Futures are flat as investors await another big batch of earnings reports. Here’s what we’re watching ahead of Wednesday’s action:
-
Novavax
NVAX -3.43%
shares plunged 26% premarket after Politico reported that the pharmaceutical company was running into difficulties manufacturing a Covid-19 vaccine that met regulators’ quality standards. Fellow vaccine maker
Moderna
MRNA -0.37%
added 0.9%.
A scientist at Novavax worked at a purification machine at the Novavax offices in Gaithersburg, Md., Feb. 11, 2021.
Photo:
T.J. Kirkpatrick for The Wall Street journal
-
Netflix
NFLX 0.16%
slipped 2.3% ahead of the bell. The streaming giant added 4.4 million memberships in the third quarter amid increased competition and the typical summer slowdown.
-
United Airlines,
UAL -2.01%
whose profit was boosted by federal aid, said the spread of the highly transmissible strain of Covid-19 slowed flying during the third quarter but hasn’t derailed its recovery. Its shares added 1.7% premarket.
-
Verizon Communications,
VZ 0.85%
Abbott Laboratories
ABT 2.16%
and
Canadian Pacific Railway
CP 0.11%
are due to report before the opening bell.
-
Baker Hughes
BKR -0.33%
shed 2.4% premarket after it swung to profit in the third quarter, but fell shy of analyst expectations, as revenue and orders rose in the period.
-
Omnicom Group
OMC 0.08%
slipped 1.4% premarket. The advertising company said its business continued to improve from the damage caused by the pandemic, with third-quarter organic revenue gains in each of its major disciplines.
-
Canadian National Railway
CNI 0.62%
gained 1%. The rail operator’s profit increased in the third quarter, helped by higher freight rates and a rise in some fuel surcharges.
-
Interactive Brokers Group
IBKR 2.95%
slipped 1.4% premarket. The electronic broker reported a decline in earnings per share for the recent quarter compared with a year ago.
-
Tesla,
TSLA -0.67%
Las Vegas Sands,
LVS 0.65%
CSX,
CSX -0.35%
Discover Financial Services
DFS 0.86%
and
IBM
IBM -0.24%
are among the companies reporting earnings after the close.
Chart of the Day
- The launch of ProShares Bitcoin Strategy ETF is being closely watched on Wall Street, where finding a way to sell securities linked to bitcoin has been a priority for many firms.
Write to James Willhite at james.willhite@wsj.com
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