Last Updated, Sep 13, 2021, 1:25 PM
Airbnb, Uranium Energy, AMC: What to Watch When the Stock Market Opens Today
U.S. stock futures rose Monday, pointing to major indexes recovering some ground following the S&P 500’s worst weekly performance since February. Here’s what we’re watching ahead of Monday’s open.
- Airbnb shares slipped 1.8% after analysts at Goldman Sachs Group recommended investors sell the stock. Airbnb and other companies offering drive-to-lodging might benefit as the Delta variant dampens enthusiasm for air travel, Heard on the Street columnist Laura Forman writes.
- Uranium Energy, a Texas-based miner and explorer, jumped 7.2%. Shares of uranium miners are surging as retail traders from Reddit’s Wall Street Bets forum focus their energies on the rallying radioactive metal.
- AMC Entertainment, a favorite of Reddit-active individual traders, rose 3%. Meme stocks are distorting the way some investors see parts of the market.
- Lyft gained 2.1% after Goldman recommended buying the ride-hailing stock and set a target price of $64 a share.
- Avantor said it would sell stock valued at $750 million. Shares of the chemicals and materials company fell 4.3%.
- ViacomCBS shares rose 0.8%. The media company is revamping the operations of its Paramount Pictures movie and television production unit as part of a broader shake-up of the management, The Wall Street Journal reported.
- Biogen shares rose 0.3% ahead of the bell. The pharma stock dropped last week after the company said the launch of its Alzheimer’s drug, Aduhelm, “was slower than we initially anticipated.“
- Invitation Homes gained 0.3% premarket. The single-family-home leasing company said early this month it recently received a letter from the Federal Trade Commission requesting information about how the company conducts its business generally and specifically during the Covid-19 pandemic.
- APA Corp . , the holding company for oil-and-gas company Apache, rose 3.4% in premarket trading. Crude-oil prices climbed after OPEC said it expected global oil demand to exceed pre-pandemic levels next year.
- Wayfair added 1.6%. Shares of the home-goods retailer have fallen over the past month and both Citigroup and Credit Suisse cut their target for the stock in August.
- Unum Group , a Tennessee-based insurer, ticked up 0.6%. S&P Dow Jones Indices said earlier this month Unum would fallout of the S&P 500 and into the S&P MidCap 400 index.
Chart of the Day
After a record-breaking bull run for the U.S. stock market this year, many Wall Street analysts are starting to warn that investors could be in for a bumpy ride.
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