U.S. stock futures gained, suggesting major indexes will steady after the highest inflation reading in more than 30 years knocked markets Wednesday. Here’s what we’re watching before the opening bell.
- Beyond Meat’s revenue forecast for the fourth quarter was well short of Wall Street expectations. The company cited pandemic-related uncertainty and its potential impact on demand. Shares slid 16% premarket.
- Elon Musk sold about $5 billion in Tesla shares this week as he exercised stock options that he received as part of his compensation package, according to regulatory filings made public late Wednesday. Shares rose 3.3% premarket.
- Rivian Automotive shares were poised to extend their IPO-day pop. The electric-vehicle stock, which jumped in its public-market debut Wednesday, rose a further 7.7% premarket.
- Medical device maker Cooper Cos. will buy Generate Life Sciences from investment firm GI Partners for $1.6 billion. The deal sent Cooper shares down 2.2%.
- Walt Disney shares lost 5.7% ahead of the bell. The world’s largest entertainment company posted a slowdown in subscriber sign-ups at its flagship streaming service.
- Nvidia shares rose 3.4% after analysts at Bank of America raised their price target for the chip stock.
- Copper prices rose, boosting shares of U.S. miner Freeport-McMoRan 2.8% ahead of the bell.
- U.S.-listed shares of Wix.com rose 3.9% premarket after the Israeli software firm reported earnings.
- Roblox shares gained 2.3%, after the videogame platform posted strong third-quarter results earlier this week. Roblox is making notable progress in diversifying its player base, writes Heard on the Street columnist Dan Gallagher.
- Investors weren’t impressed with Fair Isaac’s earnings for the fiscal fourth quarter. Shares of the analytics firm fell 2.5%.
