Tesla, Pinterest, IBM, Intel: What to Watch When the Stock Market Opens Today

Futures put Wall Street indexes on course to open with muted losses. Here’s what’s moving in premarket trading:

• Digital World Acquisition

  DWAC -0.50%

  jumped 20% premarket in volatile trading, after announcing a plan to merge with Trump Media & Technology Group, which aims to launch a social-media platform backed by former President Donald Trump.

• U.S.-traded shares of China’s

  Luckin Coffee

  LKNCY 1.01%

  were up 6.2% premarket after it reported unaudited results for the first half of 2021.

• Tesla

  TSLA 0.18%

  shares slipped 1.4% ahead of the opening bell. The electric-vehicle maker notched a third consecutive record quarterly profit, thanks in part to its ability to navigate persistent global supply-chain disruptions.

• AT&T

  T 1.25%

  gained 1.2%. The carrier added 928,000 postpaid phone subscribers in the third quarter, showing how a year of deep handset discounts for new and existing customers is proving a winning formula.

• Pinterest

  PINS 12.77%

  edged down 0.9% premarket, eating into Wednesday’s 13% rise that came after The Wall Street Journal reported that

  PayPal

  PYPL -4.91%

  is in talks to acquire the social-media platform.

• Blackstone

  BX 1.50%

  jumped 2.9% premarket after the private-equity firm’s net income nearly doubled in the third quarter, driven by strong investment performance for its largest strategies and continued expansion into fast-growing new business lines.

• American Airlines

  AAL -0.05%

  gained 1%. The airline turned a profit for the third quarter despite the rise of the Covid-19 Delta variant delaying some of its revenue recovery.

• IBM

  IBM -0.06%

  fell 5.5% premarket after it reported weaker-than-expected revenue in the latest quarter, weighed down by its cloud business and some clients’ pause in spending.

• Rail operators were taking different trajectories after their earnings reports.

  Union Pacific

  UNP 1.00%

  ticked down 0.8% premarket after it logged higher earnings and revenue in the latest quarter, despite no growth in freight volumes.

• CSX

  CSX 1.03%

  gained 3.3% premarket after the rail operator posted third-quarter results ahead of expectations, as a 24% surge in revenue just outpaced a 23% increase in expenses.

• Canadian National Railway

  CNI 5.23%

  nudged up 0.9% premarket. Activist investor Elliott Management has a big stake in the company, adding to pressure on the railroad after its CEO resigned following a failed bid for rival

  Kansas City Southern.

  KSU 1.20%

• Las Vegas Sands

  LVS -1.94%

  slipped 2.7% premarket. The casino operator’s losses narrowed in the third quarter as revenue improved, but increased pandemic-related restrictions and slow tourism continued to hurt financial results.

• Discover Financial Services

  DFS 1.39%

  was down 2.1% premarket after the company reported a better-than-expected profit in the latest quarter, but a loss on investment caused the company to miss revenue expectations.

• Intel,

  INTC 0.29%

  Chipotle,

  CMG -0.98%

  Snap,

  SNAP -1.02%

  Mattel

  MAT -2.21%

  and

  Whirlpool

  WHR 1.75%

  will report earnings after the close.

Chart of the Day

• Chinese dollar-bond defaults are rising quickly as the country’s housing market slumps, and the problem could worsen as a wave of debt from the beleaguered industry comes due in the coming months.

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

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