Take-Two, Occidental Petroleum, Moderna: What to Watch When the Stock Market Opens Today
By Mischa Frankl-Duval
Here's what we are watching as markets kick into gear Tuesday.
-- U.S. stock futures edged higher as investors cautiously welcomed
signs of progress in negotiations over an economic relief package
Futures tied to the S&P 500 rose 0.7%, suggesting the
benchmark index may open higher after falling for a fourth
consecutive day on Monday. Futures for the technology-heavy
Nasdaq-100 index ticked up 0.6%.
Read our full market wrap here.
What's Coming Up
-- Nordson, which makes dispensing equipment for adhesives,
sealants and coatings, reports its quarterly earnings after markets
close. -- Data released at 9:15 a.m. ET are expected to show that
U.S. industrial production rose in November on the back of strong
demand for autos.
Market Movers to Watch
-- Take-Two Interactive Software rose 0.4% premarket, having
earlier fallen as much as 2%. Rival videogame publisher Electronic
Arts Inc. said Monday it reached a $1.25 billion deal to acquire
Codemasters, which, had been evaluating an earlier offer from
Take-Two. -- Occidental Petroleum ticked 1.5% higher before the
bell, after falling more than 8% yesterday. Tesla is set to replace
the oil major in the S&P 100 index.
-- Apartment Investment & Management tumbled more than 82%
premarket. The company today said it had separated its businesses
into two distinct, publicly traded companies, with some assets
trading under the same ticker, AIV.
-- Shares of Moderna rose 0.9% premarket. The Food and Drug
Administration said Tuesday that its Covid-19 vaccine is " highly
effective," suggesting it could soon be added to the arsenal
against the pandemic.
-- The best performing stock in the Stoxx Europe 600 index this
year is Sinch AB, which links up businesses and consumers on
smartphones. Its shares are up 332% as of Tuesday, handily besting
the second-best performer in Europe, meal-kit delivery service
HelloFresh SE, up a mere 214%.
Chart of the Day
Stock buyers have been scooping up shares of real-estate
companies that are beaten down but stand to benefit from the
economy's eventual reopening.
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(END) Dow Jones Newswires
December 15, 2020 09:00 ET (14:00 GMT)
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