Robinhood, Didi Global, Facebook, Credit Suisse: What to watch out for when the stock exchange opens today

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WSJ.com: Markets

Updated July 29, 2021 9:17 a.m. ET

Wall Street is looking at a number of aftermarket wins from Facebook, PayPal, Qualcomm, and Ford in mixed favor, and more corporate profits are due today. Here’s what we’ll look at before the action begins.

  • Didi Global DIDI shares are listed in the United States 3.61%

    briefly up nearly 40% in pre-IPO trading after the Wall Street Journal reported the company is considering going private to appease the authorities in China and compensate investors for losses it has suffered since the company was listed in the US Created at the end of June. But profits were quickly reduced to about a 20% increase after Didi said on his Weibo account in China that “rumors of Didi’s privatization are false”. The company added that it is actively partnering with a cybersecurity investigation.

Didi shares rose ahead of the market.


Photo:

Li Shengli / VCG / Getty Images

  • Today marks the trading debut of Robinhood Markets, whose app helped enable a day trading frenzy that launched stocks like GameStop,

    AMC Entertainment Holdings and Koss. It is traded on the Nasdaq Stock Exchange under the symbol HOOD.

  • Facebook FB -3.56%

    saw strong quarterly revenue and earnings growth, driven by robust digital ad spend as the company continues to scrutinize the size and impact of its platforms. The shares fell by 3.3% before the IPO.

  • Nikola NKLA -9.34%

    Shares lost more than 9% in pre-trading after Trevor Milton, the founder and former CEO of the electric truck startup, was charged Thursday for making misleading and false statements to the company’s investors.

  • Shares in PayPal Holdings PYPL -5.30%

    plunged 5.9% ahead of market opening. The digital payments company beat earnings expectations for its final quarter, but delivered a lower-than-expected outlook for the current quarter.

  • Ford Motor F. 5.92%

    a surprising profit in the second quarter and raised its profit forecast for the year as it sees an easing in the computer chip shortage that has been hampering vehicle production for months. The share rose by 5.1% before the IPO.

  • Qualcomm QCOM 5.51%

    Shares rose 2.8% pre-launch after the tech company reported net income of roughly $ 2 billion for the last quarter, more than double the prior-year period and above Wall Street’s expectations.

  • US-listed shares of Credit Suisse Group CS -2.87%

    pre-trading decreased by 1.9%. The bank announced on Thursday that top employees had failed to respond to numerous warning signals before they lost billions from the family office Archegos Capital Management in March.

  • Meme stocks are quiet ahead of Robinhood Markets’ first day of trading. GameStop’s shares were up 0.9% and AMC Entertainment Holdings was up AMC 0.22%

    down by 0.8%.

  • Bitcoin was trading at nearly $ 40,000 and held on to gains on a rally earlier this week.
  • Comcast CMCSA 2.74%

    Shares were up 1.9% after the company posted a 25% profit jump in the second quarter as its broadband and cellular businesses added more customers and its theme parks benefited from the country’s reopening.

  • Quarterly revenue and profit increased at Nokia NOK 5.51%

    As the Finnish telecommunications giant recovered from a chip sourcing mistake and benefited from governments around the world imposing restrictions on its biggest rival, the U.S.-listed shares of China’s Huawei Technologies Co. rose 6%.

  • Shares in the Taco Bell parent company Yum Brands YUM 4.36%

    rose 2.8% ahead of the market after the fast food company announced profits and sales that exceeded analysts’ expectations.

  • New data showed that 400,000 Americans first applied for unemployment benefits in the week ending July 24, up from 424,000 the week before. While unemployment claims fell, they were higher than the economists surveyed by the Wall Street Journal projected.
  • US GDP grew at an annual rate of 6.5% in the second quarter, slightly higher than at the beginning of the year, according to figures released on Thursday. The size of the economy is now exceeding its pre-pandemic level.
  • Amazon.com,

    AMZN -0.54%

    Gilead Sciences,

    GILD -0.11%

    Edwards Lifesciences EW 0.29%

    and T-Mobile US TMUS 0.26%

    are expected to report on the results after the closing bell.

  • The American Petroleum Institute, Washington’s largest lobby for the oil and gas industry, has spent decades harnessing its financial might to oppose almost every green initiative on its way. His recent green makeover is met with skepticism from friends and foes alike.

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