Stitch Fix, Tesla, Peloton: What to Watch When the Stock Market Opens Today
By Mischa Frankl-Duval
Here's what we are watching as markets kick into gear
-- U.S. stock futures slid as political gridlock on both sides
of the Atlantic weighed on sentiment amid a continued uptick in
coronavirus cases. Futures tied to the S&P 500 fell 0.4%,
suggesting that the broad market gauge may pull back for a second
day. Nasdaq-100 futures edged down 0.2%. Read our full market wrap
What's Coming Up
-- Videogame retailer GameStop and online pet-products company
Chewy will report earnings after the market closes.
Market Movers to Watch
-- Tesla shares fell 2.4% premarket after the company said it
would sell up to $5 billion in shares over an unspecified
timeframe. The company's shares had been trading up more than 3%
before the announcement.
-- Shares of Stitch Fix jumped 37% offhours after the online
clothing company reported quarterly results that beat expectations.
It said active client numbers rose 10% year-on-year.
-- Shares of connected-fitness company Peloton fell 2% after
Apple unveiled Fitness+, a range of workouts built around its Apple
Watch product. Shares of Spotify also fell around 2%.
-- Shares of ON Semiconductor rose 4% premarket. KeyBanc today
raised its rating on the stock.
-- Uber shares fell 2.3% premarket. The company yesterday said
it had sold its self-driving car unit to a Silicon Valley
-- Shares in Coupa Software, which creates software focused on
helping businesses manage their spending, climbed 4.7% after the
company reported better-than-expected revenue and raised its
full-year financial targets.
Must Reads Since You Went to Bed
JD Health Makes Strong Debut in Hong Kong
Goldman Sachs to Acquire 100% of China Securities Joint
U.S. Steel to Buy Remaining Stake in New, Low-Cost Steel
Greek Banks Turn Corner With Bad-Loan Sales
Chinese Household Debt Surges Through the Pandemic
(END) Dow Jones Newswires
December 08, 2020 09:19 ET (14:19 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.