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Novavax, Moderna, Tesla: What to Watch in the Stock Market Today

Novavax, Moderna, Tesla: What to Watch in the Stock Market Today

Futures on Wall Street indexes are rising to start the month, pointing to modest opening gains for the S&P 500 ahead of another batch of earnings. Here’s what we’re watching before the bell.

  • Novavax said it had completed its rolling submission to Canada’s health regulator to authorize its Covid-19 vaccine candidate. Shares jumped 15% in premarket trading.
  • Over at Moderna , there was less good news. The Food and Drug Administration is delaying a decision on the firm’s application to authorize use of its Covid-19 vaccine in adolescents to assess whether the shot leads to a heightened risk of myocarditis. Shares slipped 2.7%.
  • U.S.-listed shares of Nio fell 4.5% premarket. The China-based electric vehicle company said deliveries fell by more than a quarter from a year before in October.
  • Also in electric-vehicle land, U.S.-listed shares of XPeng added 2.8% premarket. The Chinese carmaker reported strong sales for October.
  • Tesla gained 2.8% premarket. Ganfeng Lithium said it has signed a contract to supply the electric-car maker with battery products from 2022 to 2024. Tesla options have changed hands at a frenetic pace of late.
  • CrowdStrike shares lost 2.6% after BTIG downgraded the stock from “buy” to “neutral”.
  • Plug Power , which develops hydrogen fuel systems and whose stock often experiences big price swings, rose 4.9%. Shares were among the most heavily traded premarket.
  • Day-trader favorite AMC Entertainment gained 2.5%. AMC said ticket-admission revenues from its cinemas in the U.S. were the highest of any month since February 2020.
  • Also trading at a brisk pace: Palantir Technologies . The software company ticked up 1.5%.
Chart of the Day

High-speed trading firms are paying brokers billions of dollars a year to execute options orders, leading them to promote the risky trades whose popularity has boomed among small investors. Here’s how Robinhood Markets cashed in on the derivatives frenzy.

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