Money

Tesla, Intel, Bitcoin: What to Watch in the Stock Market Today

Stock futures climbed as investors bet that the impact of the Omicron variant of Covid-19 would be milder than previously thought. Here’s what we’re watching in Tuesday’s trading:

  • Intel climbed nearly 8% premarket. The Wall Street Journal reported that the tech giant is planning to list its Mobileye self-driving car unit, which may be valued at $50 billion, citing people familiar with the matter.
  • Tesla rose 3.2% in premarket trading. CEO Elon Musk spoke about what’s next for the auto maker and SpaceX in an interview with The Wall Street Journal. Watch the full interview here.
  • Meta, formerly known as Facebook , climbed 1.5%. Executives at Instagram, which is owned by Meta, unveiled new features that they say will make their platform safer for teens to use.
  • Private-equity firm Permira will acquire cybersecurity-software developer Mimecast in an all-cash deal that values the company at $5.8 billion. Shares of Mimecast are up 6.6%.
  • Coupa Software fell nearly 8% in off-hours trading after it said its loss in the third quarter widened from a year earlier as operating expenses jumped.
  • Shares in HealthEquity tumbled 26%. The health savings account manager reported a loss in the recent quarter and said it expects a full-year loss as well.
  • British pharma giant GlaxoSmithKline said new early-stage studies showed its antibody medication is effective against the Omicron coronavirus variant, adding to data provided last week. Its shares are edging up and have added nearly 2% this week so far.
  • GitLab declined over 4%. The software maker’s first results as a public company revealed a wider quarterly loss than Wall Street expected.
  • MongoDB shares surged over 20%. The database company raised its full-year guidance above analysts’ estimates.
  • Cryptocurrency exchange Coinbase rose 4%, reversing direction after closing down for five straight trading sessions. Bitcoin rose above $51,000, recovering after touching a low of $42,000 on Saturday.
  • AutoZone added 2.7% after the auto parts retailer reported higher quarterly earnings per share than Wall Street’s estimates.
  • Apparel company Designer Brands jumped more than 7% after posting a surge in profit.
  • Toll Brothers , ChargePoint , Stitch Fix , Dave & Buster’s , Avid Bioservices and Casey’s General Stores are expected to post earnings after markets close.
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Write to Anna Hirtenstein at anna.hirtenstein@wsj.com



Tesla, Intel, Bitcoin: What to Watch in the Stock Market Today Source link Tesla, Intel, Bitcoin: What to Watch in the Stock Market Today

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