Stock-market

Novavax, AMC, Orphazyme, Corsair Gaming: What to Watch When the Inventory Market Opens At the moment

Novavax

NVAX -0.05%

shares received a shot within the arm from optimistic outcomes for its Covid-19 vaccine. Bitcoin took one other leg increased over the weekend after Elon Musk once more took to

Twitter.

TWTR 1.43%

Right here’s what we’re watching as Monday’s buying and selling exercise heats up.

  • U.S. inventory futures wavered between small beneficial properties and losses, instructed the S&P 500 may maintain close to a document after it ended final week at an all-time excessive.
  • Futures tied to the S&P 500 ticked up lower than 0.1%. The broad market gauge has climbed for 3 consecutive weeks. Nasdaq-100 futures added 0.1%, pointing to a average rise in expertise shares on the opening bell.
  • Bitcoin jumped 6.9% from its degree at 5 p.m. ET Friday to commerce round $39,450, based on CoinDesk. Elon Musk tweeted Sunday that

    Tesla

    TSLA 2.34%

    will resume accepting the cryptocurrency as a type of cost when miners use extra clear power.

What’s Coming Up
  • The Credit score Suisse Communications Convention begins Monday, and can embody shows from

    Verizon,

    VZ -0.56%

    Warner Music Group

    WMG 2.00%

    and

    Comcast.

    CMCSA -0.84%

  • The Cantor Fitzgerald Canadian LPs Hashish Discussion board additionally begins Monday, with shows from corporations together with

    Aurora Hashish

    ACB -1.53%

    and

    Auxly Hashish Group.

Market Movers to Watch
  • Novavax jumped 7% premarket after it launched check outcomes exhibiting that its Covid-19 shot had an total efficacy of 90%, and 100% in opposition to average and extreme illness.

Nita Patel, senior director of vaccine improvement at Novavax, holds a vial of Novavax’s Covid-19 vaccine, Feb. 11, 2021.



Picture:

T.J. Kirkpatrick for The Wall St

  • Oh lordy.

    Lordstown Motors

    shares plunged 18% after the electric-truck firm mentioned its chief government and prime monetary chief have resigned. The corporate additionally mentioned Monday {that a} particular board committee discovered that some disclosures it made about preorders for the truck it hopes to fabricate had been inaccurate.

  • Marqeta

    was up 1.3% earlier than the open, which might carry the cost card-issuing expertise firm’s shares again near their highest degree after its IPO final week.

  • Orphazyme

    was persevering with its wild experience, including 18% forward of the bell. The Denmark-based biopharmaceutical firm’s shares rocketed increased final week solely to surrender a lot of the beneficial properties. The corporate mentioned it was unaware of the rationale for the volatility.

  • Meme-stock favourite

    AMC Leisure

    added 3.9%. A multipronged wager on AMC boomeranged this month on Mudrick Capital Administration, the most recent hedge fund to fall sufferer to swarming day merchants.

  • Corsair Gaming

    shot 28% increased premarket. The inventory has appear some chatter over the weekend among the many Reddit crowd.

  • Senseonics,

    a maker of implantable glucose displays for diabetics, was additionally rocketing increased, with a 13% premarket acquire.

  • Chipotle Mexican Grill

    shares gained 2.4%. Analysts at Raymond James lifted their ranking on the inventory, pointing to current menu value hikes.

Market Information
  • The Nasdaq Biotechnology Index rose 6% final week, after the FDA gave the inexperienced gentle to Biogen’s Alzheimer’s drug Aduhelm on Monday.
  • About 83% of recorded-music income within the U.S. final yr got here from streaming, in contrast with lower than 7% in 2010, when paid downloads and CD gross sales nonetheless drove the majority of the business’s income, based on information from the Recording Business Affiliation of America.
  • On at the present time in 2000, the SEC, the FBI, and the U.S. Lawyer for the Southern District of New York cracked down on greater than 100 alleged mobsters and their cronies, claiming that the mafia—in cahoots with brokers, funding bankers, a cash supervisor, and a retired New York Metropolis cop—manipulated the costs of 19 shares, defrauding hundreds of buyers out of an estimated $50 million. 
Chart of the Day
  • Tesla and different corporations that maintain the notoriously risky cryptocurrency typically should document impairment expenses when its worth falls.
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