Daily Stock Market News

Peloton, Marathon Digital, Coinbase, Spirit Airlines: What to Watch When the Stock Market

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

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