Gamestop – Robin Hood, Didi, Facebook, Credit Suisse: Things to watch when the stock market opens today
Wall Street sees the slate of aftermarket revenue from Facebook, PayPal, Qualcomm and Ford in a variety of favors. And today, even more corporate profits are expected. Here’s what we’re seeing before the action begins:
- Diddy Global’s listing in the U.S. after the Wall Street Journal soothed Chinese authorities and reported that the company was considering going private to compensate investors for losses incurred since its late listing in the U.S. Stocks surged nearly 40% temporarily in pre-market trading in June. But profits were quickly driven to a 16% rise after Diddy said in a Weibo account in China that “rumors of Diddy’s privatization are wrong.” The company added that it is actively cooperating with cyber security investigations.
- Today, we are celebrating the trading debut of Robinhood Markets. The app helped drive the day trading frenzy of supercharging stocks such as GameStop, AMC Entertainment Holdings and Koss. Traded on the Nasdaq Stock Exchange with the HOOD symbol.
- Facebook continued to scrutinize the size and impact of its platform, resulting in a surge in quarterly revenue and profits, supported by strong digital advertising spending. Its share fell 4% before the market.
- PayPal Holdings shares fell 5% prior to opening the market. Digital payments companies have exceeded their earnings forecasts for the most recent quarter, but their outlook for the quarter has fallen short of expectations.
- Ford Motor Co. raised its earnings outlook this year with a staggering second-quarter profit. It states that the shortage of computer chips has eased and vehicle production has been hampered for months. Its share rose 4.6% before it went on sale.
- Qualcomm shares rose 2.7% before the market after tech companies reported a net profit of about $ 2 billion in the last quarter. That’s more than double the year-ago quarter and better than Wall Street’s expectations.
- Credit Suisse Group shares fell 3.1% in Swiss transactions. Banks said Thursday that top employees were unable to respond to numerous warning signals before losing billions of dollars from family office Archegos Capital Management in March.
- Meme stocks are quiet ahead of the first trading day of Robinhood Market. GameStop’s share rose 2.3% and AMC Entertainment Holdings fell 0.3%.
- Bitcoin traded close to $ 40,000 and maintained profits from the rally earlier this week.
- Amazon.com, Gilead Sciences, Edwards Lifesciences and T-Mobile US will report revenue after Closing Bell.
- The American Petroleum Institute, Washington’s largest oil and gas industry lobby, has spent decades using its money to fight almost every green initiative along the way. Its recent green makeover faces skepticism from friends and enemies.
Robin Hood, Didi, Facebook, Credit Suisse: Things to watch when the stock market opens today
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