Futures are rising, signaling that Wall Street indices will build on the gains posted after the Federal Reserve’s latest policy update – even if nervousness about the struggling China Evergrande Group continues. We’ll see that before the opening on Thursday.
- Occasional meme stocks BlackBerry rose 7.2% ahead of the market. The network company reported better-than-expected results for the second quarter after close of trading on Wednesday. Another long-running retailer, AMC Entertainment, gained 3.5%.
- The electric vehicle maker Lucid Group gained 2% ahead of the market. The company, which went public in July, has received a few nods from Wall Street analysts in the past few days.
- Trimble stock lost 1.9% early on the market. The tech company’s stock was downgraded by Morgan Stanley with a price target of $ 74 per share. The stock closed at $ 90.54 on Wednesday.
- Blank check company Amplitude Healthcare Acquisition, with a market cap of approximately $ 133 million, rose 44% prior to launch. Late on Wednesday it was said that shareholders had approved the merger with the biotech company Jasper Therapeutics.
- Rite Aid fell 4.5% after the pharmacy chain updated its full-year guidance by scaling its adjusted profit outlook to a higher loss.
- Darden Restaurants, the parent company of Olive Garden, delivered a profit, sending its shares up 4.3% ahead of market price. The company approved the repurchase of an additional $ 750 million of outstanding common stock, bringing the total remaining repurchase authorization to approximately $ 1 billion.
- HB Fuller’s shares rose 2.8% before the IPO. The chemical company recorded better than expected sales growth in the most recent period.
- Steelcase lost 4.2% ahead of the market after the furniture company posted a year-over-year revenue decline in the last quarter.
- KB Home gained 0.9% prior to market launch. The home builder reported higher profits in the third fiscal quarter as sales rose 47% due to continued high demand.
- Nike, Costco and Vail Resorts will report their profits after Thursday’s close of trading.
Chart of the day
- Environmental shortage bets are driving everything from natural gas to aluminum, increasing costs for consumers and businesses.
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