Stock futures are ticking higher ahead of a busy week of earnings from big technology companies. Here’s what we’re watching ahead of Monday’s open:
-
Pinterest
PINS -5.36%
shares dropped 12% premarket after U.S. payments giant
PayPal
PYPL -1.16%
Holdings said it isn’t currently pursuing a deal for the social-media platform, days after media reports that the companies were in early talks for a multibillion-dollar deal. PayPal shares climbed 6.9%.
PayPal shares climbed after it denied it was pursuing a deal to acquire Pinterest.
Photo:
Yichuan Cao/Zuma Press
-
Bakkt,
BKKT 13.95%
a cryptocurrency trading platform that went public through a SPAC deal last week, jumped 6% premarket. Rival crypto exchange
Coinbase
COIN 0.28%
was also up, by 2.2%. Bitcoin itself was up more than 3% from its Friday 5 p.m. ET level.
- Cruise operator
Carnival
CCL -0.18%
slipped 1%. Citi cut its rating of the stock to neutral from buy, though the bank also expects the company to shift from burning cash to generating cash over the next 12 months as fleet deployments ramp up.
- Analysts at Citi also cut the price target on
Coupang
CPNG -0.51%
shares to $32 from $39. The South Korea-based e-commerce company’s stock slipped 0.7%.
- Trading in
Digital World Acquisition,
DWAC 107.03%
the SPAC that is merging with Donald Trump’s media company, calmed down after last week’s wild ride. Class A shares were down 2.1% premarket, after Friday’s 107% jump
-
Otis Worldwide
OTIS 0.33%
and
Kimberly-Clark
KMB 1.34%
are due to report earnings before the opening bell.
-
Tesla
TSLA 1.75%
shares added 2.4% premarket. Japan’s
Panasonic
PCRFY 3.09%
showed off for the first time a larger lithium-ion battery that it plans to supply to the U.S. electric-vehicle maker.
-
Facebook
FB -5.05%
and Crane are among the companies reporting after Monday’s close.
Chart of the Day
- Propane prices haven’t been so high heading into winter in a decade, which is bad news for the millions of rural Americans who rely on the fuel to stay warm.
Write to James Willhite at james.willhite@wsj.com
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