Updated October 21, 2021 at 9:37 a.m. ET
Wall Street indices opened with muted losses amid a spate of earnings reports and after jobless claims fell to a pandemic low. The following moves in the session on Thursday:
Digital world survey DWAC 110.64%
Shares rose after they announced they would merge with Trump Media & Technology Group, which aims to launch a social media platform backed by former President Donald Trump.
- China’s Luckin Coffee LKNCY traded in the US -1.31%
were in opening trading after releasing unaudited results for the first half of 2021.
Tesla TSLA 2.95%
posted a record quarterly profit for the third consecutive year, thanks in part to its ability to handle persistent global supply chain disruptions.
AT&T T -0.54%
added 928,000 postpaid telephone subscribers in the third quarter.
Pinterest PINS -2.60%
Stocks gave up some of Wednesday’s gains after the Wall Street Journal reported PayPal PYPL -4.79%
is in talks to acquire the social media platform.
Blackstone BX 2.89%
‘S net income nearly doubled in the third quarter, driven by strong investment performance for its largest strategies and continued expansion into rapidly growing new businesses.
American Airlines AAL 1.38%
took a profit in the third quarter, although the increase in the Covid-19 Delta variant delayed some of the revenue recovery.
IBM IBM -8.18%
reported weaker-than-expected revenue in the last quarter, negatively impacted by its cloud business and some customers’ hiatus from spending.
The IBM Foster City, California office, July 14, 2021.
David Paul Morris / Bloomberg News
- The shares of the railway operators increased after their earnings reports. Union Pacific UNP 0.28%
recorded higher earnings and higher sales in the last quarter despite no increase in freight volume. CSX CSX 1.87%
published third quarter results above expectations.
- Activist investor Elliott Management has a large stake in the Canadian National Railway,
Increased pressure on the railroad after CEO resigned after a failed bid for rival Kansas City Southern.
Las Vegas Sands LVS -2.58%
“Losses decreased in the third quarter as revenues improved, but tightened pandemic restrictions and slow tourism continued to hurt financial results.
Discover DFS financial services -5.37%
reported better-than-expected earnings for the last quarter, but a loss of investment caused the company to miss revenue expectations.
Mattel MAT 1.89%
and Whirlpool WHR -0.55%
will report earnings upon completion.
Chart of the day
- Chinese dollar bond defaults are growing rapidly as the country’s housing market collapses, and the problem could worsen as a wave of debt from the troubled industry matures in the coming months.
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