Stock futures are rising, suggesting that major indices will start trading Monday through the weekend after a bumpy week. This is what we are seeing before the opening.
- Shares of Uber, Lyft and DoorDash are reaching the premarket. A California judge ruled that the November vote measure that allowed companies to continue to treat their drivers as independent contractors is inapplicable and unconstitutional. Uber fell 3%, Lyft lost 4.6% and DoorDash fell 2.5%.
- Shares of General Motors fell 1.6% ahead of the market. The automaker is expanding its all-electric Chevy Bolt safety recall to include newer models.
- Madison Square Garden Entertainment reported losses during the recent quarter, but also noted a recovery in activity at its establishments as Covid-19 measures eased. Its shares gained 1.9% premarket.
- Coinbase shares advanced 3.4% ahead of the bell and the price of bitcoin gained 3.3% from its ET level at 5pm on Friday. The rise of the cryptocurrency put it back above $ 50,000 for the first time since May.
- Pfizer gained 3.1% premarketing. This week the FDA is expected to grant full approval of Pfizer’s Covid-19 vaccine and its partner BioNTech, according to people familiar with the planning. Vaccine manufacturer Coverna-19, mRNA, Moderna, also increased, by 2.4%.
- And Pfizer is also driving the first offering market: it’s acquiring Trillium Therapeutics for $ 18.50 per share in cash, or an implied capital value of $ 2.262 billion. Trillium shares closed Friday at $ 6.09 per share. Premarket shot an impressive 190%.
- Crude oil prices have risen more than 3% and shares of major energy producers are approaching the trip. Occidental Petroleum gained 3.9%, Devon Energy rose 3.5%, Diamondback Energy rose 3.7% and Exxon Mobil rose 2.3%.
- Palo Alto Networks will post an update of earnings after closing.
Table of the day
- Wall Street companies are repackaging and selling mortgages that government-backed companies cannot and do not want.
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