GameStop, Clover Health, FuelCell Energy: What to Watch When the Stock Market Opens Today

Updated June 10, 2021 8:46 am ET

Here’s what we’re watching as Thursday’s trading gets underway.

U.S. stock futures were mixed after a data showed a pickup in the pace of inflation as the economy emerges from the pandemic.

Futures for the S&P 500 rose 0.1% and Dow Jones Industrial Average futures added 0.3%. Contracts for the technology-focused Nasdaq-100 slipped 0.3%. Read our full markets wrap here.

Bitcoin was trading around $37,600, a 3.4% rise from Wednesday’s level at 5 p.m. ET. The cryptocurrency is still down over 40% from its mid-April high.

What’s Coming Up Earnings are due after the close from

Chewy

CHWY -2.14%

and

Beyond Air.

XAIR 1.34%

Market Movers to Watch

GameStop

GME 0.85%

is down 7.5% in premarket trading. The videogame retailer said it is considering a new equity offering, and disclosed that the SEC has requested documents and information for its investigation into the recent trading frenzy. It also reported stronger-than-expected sales in the most recent quarter.

GameStop Corp. reset its leadership team as the videogame retailer looks to leverage its recent popularity with investors.

Photo:

Bing Guan/Bloomberg News

FuelCell Energy

FCEL -7.17%

shares dropped 12.6% after it reported a fall in revenue during the recent quarter

Clover Health

CLOV -23.61%

rose over 7% earlier in the morning, before retreating to a 4.5% rise. The stock was up 88% for the week at yesterday’s close.

AMC Entertainment

AMC -10.37%

slid 3.7%. The cinema chain fell over 10% on Wednesday.

BlackBerry,

BB -4.05%

another stock frequently discussed on Reddit forums, was down 4.2%.

ContextLogic

WISH -8.86%

shares continued to swing, jumping 3.7% ahead of the bell. On Wednesday they closed down 8.9% in heavy-volume trading, after having been up more than 25% early in the session.

Biogen

BIIB 2.93%

slipped 1.3% premarket, pulling back after rallying more than 40% this week after the FDA approved its Alzheimer’s drug, a long-awaited breakthrough.

Market Facts Issuance of green bonds hit a record $270 billion last year and is on pace to exceed that amount in 2021, according to data from the Climate Bonds Initiative.

The yield on the benchmark 10-year Treasury note closed below 1.5%, its lowest level in more than three months, dragged down by tepid economic data and high demand from investors both in the U.S. and elsewhere.

Chart of the Day

Bankers estimate that initial public offerings could raise some $40 billion in the coming months, the most ever during a summer stretch. 

Must Reads Since You Went to Bed

Copyright ©2020 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8


Source link

error: Content is protected !!