Stock futures are edging up ahead of another set of major corporate earnings reports. Here’s what we’re watching in Monday’s trading:
- Peloton Interactive soared 31% premarket. The stationary-bike maker is drawing interest from potential suitors including Amazon , according to people familiar with the matter, as its stock slumps and an activist urges it to explore a sale.
- Hasbro gained 2% premarket. The toy maker raised its dividend as its quarterly profit beat expectations.
- Tyson Foods also reported an earnings beat and its stock climbed 5% ahead of the bell.
- Bitcoin was up 5.1% from Friday, and crypto stocks were also posting gains. Coinbase added 3.8% premarket, and bitcoin miner Marathon Digital gained 5.9%.
- Snap shares nudged up 0.4% premarket—just slightly improving on the stock’s 59% rally on Friday that came on the heels of its first profitable quarter.
- Amazon.com edged up 0.4%, also building on its 14% Friday jump, which highlighted the diverging courses of FANG+ stocks since Facebook parent Meta Platforms delivered an earnings disappointment and gloomy forecast.
- Frontier Airlines parent Frontier Group and Spirit Airlines said they plan to merge. Frontier shares slipped 3% premarket and Spirit shares jumped 12%.
- Spotify slipped 2.1%. Chief Executive Daniel Ek apologized to employees for the backlash that has followed the emergence of Joe Rogan’s use of a racial slur in previous podcast episodes. He said he has no plans to remove the star podcaster from the streaming platform.
- Simon Property Group and Take-Two Interactive Software will give updates after the close.
Chart of the Day
- Electric-vehicle startups and other green tech companies soared early last year. Now a wave of investigations, outside allegations and growing investor skepticism have sent shares down 75% or more for many of them.
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