Uber, US Bancorp, Lennar: What to watch out for when the stock market opens today


WSJ.com: Markets

US stock futures are rising, suggesting markets will rebound one day after worries over China’s real estate sector helped fuel a global selloff in stocks and commodities. We’ll see that before the opening on Tuesday.

  • Uber Technologies rose 5.9% before the bell. The ride-hailing company said it could hit some level of profitability in the current quarter, months earlier than previously expected.
  • Uber’s rival Lyft was up 2.3% in pre-trading.
  • U.S. Bancorp shares rose 0.8% after the lender agreed to buy MUFG Union Bank, which operates about 300 branches mostly on the West Coast, for about $ 8 billion.
  • Lennar lost more than 2% in pre-trading. The home builder said its third quarter earnings were impacted by supply chain challenges that are showing no signs of easing.
  • Bill.com announced it will sell $ 1 billion worth of shares. The financial software share lost 5.1%.
  • ConocoPhillips rose 1.7% after the oil and gas company agreed to buy all of Royal Dutch Shell’s assets in the Permian Basin for approximately $ 9.5 billion in cash. Shell investors cheered the deal: US-listed stocks rose more than 5%.
  • Occidental Petroleum, Devon Energy and Phillips 66 rose early in trading as oil prices rose and the energy sector recovered from a broad sell-off. Occidental has repaid $ 4.5 billion in debt this year, the company said in a government filing late Monday.
  • KKR gained nearly 2% after slipping more than 6% on Monday. Private equity stocks have broken this year.
  • Bitcoin prices stabilized after plummeting Monday as investors abandoned riskier and speculative assets.
Chart of the day

Today’s inflation may be temporary, but how long means “temporary” is becoming a real headache for investors. At the risk of intellectual incoherence, they seem to be more concerned about the next five years than the next 10, writes Jon Sindreu for Heard on the Street.

Source Link

Leave a Reply