Novavax, AMC, Orphazyme, Corsair Gaming: What to watch out for when the stock market opens today

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Updated June 14, 2021 9:30 a.m. ET

Novavax NVAX -0.94%

Stocks got a shot in the arm due to positive results for their Covid-19 vaccine. Bitcoin raised another leg over the weekend after Elon Musk returned to Twitter.

TWTR 0.55%

Here’s what we’re watching as Monday’s trading activity heats up.

  • US stock futures fluctuated between small gains and losses, indicated the S&P 500 could hold near a record after ending at an all-time high last week.
  • Futures linked to the S&P 500 rose less than 0.1%. The broad market dimension has risen for three weeks in a row. Nasdaq 100 futures rose 0.1%, suggesting a modest rise in technology stocks for the opening bell.
  • Bitcoin jumped 6.9% from its level at 5 p.m. ET on Friday to around $ 39,450, according to CoinDesk. Elon Musk tweeted on Sunday that Tesla TSLA 1.28%

    will accept cryptocurrency as a means of payment again if miners use more clean energy.

What’s up
  • The Credit Suisse communications conference begins Monday and includes presentations from Verizon,

    VZ -0.26%

    Warner Music Group WMG -0.37%

    and Comcast.

    CMCSA 0.70%

  • The Cantor Fitzgerald Canadian LPs Cannabis Forum also starts on Monday with presentations from companies like Aurora Cannabis ACB -1.53%

    and Auxly Cannabis Group.

    XLY -1.92%

Market movers in view
  • Novavax rose 7% ahead of the market after test results were released showing its Covid-19 syringe had 90% and 100% overall effectiveness against moderate and severe illnesses.

Nita Patel, Senior Director of Vaccine Development at Novavax, holds a vial of Novavax’s Covid-19 vaccine on February 11, 2021.


TJ Kirkpatrick for the Wall Street Journal

  • Oh lord Lordstown Motors RIDE -18.84%

    Shares slumped 18% after the electric truck maker announced the resignation of its CEO and chief financial officer. The company also said Monday that a special committee of the board of directors found that some pre-order information was inaccurate for the truck it is supposed to manufacture.

  • Marqeta MQ 1.59%

    was up 1.3% prior to opening, which would bring shares of the payment card-issuing tech company back near their highs after last week’s IPO.

  • Orphazym ORPH 19.08%

    continued his wild ride adding 18% before the bell. The shares of the Denmark-based biopharmaceutical company soared last week, only to give up most of its profits. The company does not know the reason for the volatility.

  • Meme Share Favorite AMC Entertainment AMC 15.38%

    3.9% added. A multi-pronged bet on AMC boomed this month on Mudrick Capital Management, the newest hedge fund to fall victim to the swarming of day traders.

  • Corsair Gaming CRSR 11.25%

    Shot 28% higher in front of the market. The stock seemed to babble a bit among the Reddit crowd over the weekend.

  • Senseonics,

    IMPORTANCE -1.25%

    a manufacturer of implantable glucose monitors for diabetics, also jumped 13% prior to launch.

  • Chipotle Mexican Grill CMG 1.79%

    Shares gained 2.4%. Raymond James analysts raised their rating on the stock, citing recent menu price hikes.

Market facts
  • The Nasdaq Biotechnology Index rose 6% last week after the FDA gave the green light to Biogen’s Alzheimer’s drug Aduhelm on Monday.
  • About 83% of music recording revenue in the United States came from streaming last year, compared with less than 7% in 2010 when paid downloads and CD sales came from, according to the Recording Industry Association of. America still made up the bulk of industry revenue.
  • On that day in 2000, the SEC, the FBI, and the U.S. Attorney General for Southern New York City cracked down on more than 100 suspected gangsters and their cronies, claiming the mafia was in cahoots with brokers, investment bankers, managers, and a retired man New York Police Officer – rigged 19 stocks, cheating thousands of investors out of an estimated $ 50 million.
Chart of the day
  • Tesla and other companies that hold the notoriously volatile cryptocurrency often have to record depreciations in value when it is lost.
Must have read since you went to bed

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