Money

Pinterest, Bakkt, Tesla, Facebook: What to Watch When the Stock Market Opens Today

Stock futures are ticking higher ahead of a busy week of earnings from big technology companies. Here’s what we’re watching ahead of Monday’s open:

  • Pinterest

    shares dropped 12% premarket after U.S. payments giant

    PayPal

    Holdings said it isn’t currently pursuing a deal for the social-media platform, days after media reports that the companies were in early talks for a multibillion-dollar deal. PayPal shares climbed 6.9%.

PayPal shares climbed after it denied it was pursuing a deal to acquire Pinterest.



Photo:

Yichuan Cao/Zuma Press

  • Bakkt,

    a cryptocurrency trading platform that went public through a SPAC deal last week, jumped 6% premarket. Rival crypto exchange

    Coinbase

    was also up, by 2.2%. Bitcoin itself was up more than 3% from its Friday 5 p.m. ET level.

  • Cruise operator

    Carnival

    slipped 1%. Citi cut its rating of the stock to neutral from buy, though the bank also expects the company to shift from burning cash to generating cash over the next 12 months as fleet deployments ramp up.

  • Analysts at Citi also cut the price target on

    Coupang

    shares to $32 from $39. The South Korea-based e-commerce company’s stock slipped 0.7%.

  • Trading in

    Digital World Acquisition,

    the SPAC that is merging with Donald Trump’s media company, calmed down after last week’s wild ride. Class A shares were down 2.1% premarket, after Friday’s 107% jump

  • Otis Worldwide

    and

    Kimberly-Clark

    are due to report earnings before the opening bell.

  • Tesla

    shares added 2.4% premarket. Japan’s

    Panasonic

    showed off for the first time a larger lithium-ion battery that it plans to supply to the U.S. electric-vehicle maker.

  • Facebook

    and Crane are among the companies reporting after Monday’s close.

Chart of the Day

Write to James Willhite at james.willhite@wsj.com

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