Rivian Share Price Climbs Higher: What To Look For In The Stock Exchange Today

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WSJ.com: Markets

Stocks opened a little higher on Friday, but major indices are still poised to break a five-week winning streak hit by concerns over high inflation rates. We see the following in the markets:

  • Rivian Automotive stocks are up. In the first two days of trading, the electric car maker reached a market value of more than $ 100 billion, about a tenth the size of Tesla.
  • Tesla CEO Elon Musk sold more shares in the electric vehicle manufacturer on Thursday.
  • Lordstown Motors reported a larger loss in the third quarter due to higher spending as the company announced that commercial production and shipping of its electric pickup truck will begin next year.
  • Johnson & Johnson plans to split into two companies, spinning off the $ 15 billion-a-year division that sells patches, Tylenol drugs, and Johnson’s baby powder.
  • AstraZeneca’s US-listed shares fell as the market opened after the company posted a net loss despite a jump in sales in the third quarter as the recent acquisition of Alexion Pharmaceuticals and increased research and development costs weighed on earnings.
  • The shares of the single-serve coffee filter manufacturer NuZee rose again in opening trading. Shares rose more than 160% Thursday after its partner, specialty coffee roaster Cuvee Coffee, announced it would sell its product in 3,000 Walmarts in the US
  • Spectrum Brands Holdings, a staple food company, said its profits and sales rose in the fourth quarter of the fiscal year, although supply chain disruptions weighed on results.
  • Eyewear maker Warby Parker said its loss increased in the third quarter as the surge in spending dwarfed sales growth.
Chart of the day
  • Founded just four years ago, Binance is the stock exchange giant that towers above the world of digital currencies, a crypto equivalent of the London, New York and Hong Kong exchanges combined. According to data provider CryptoCompare, Binance processes more trades for cryptocurrencies such as Bitcoin and Ether worth $ 76 billion each day than its four largest competitors combined.

Write to Caitlin Ostroff at caitlin.ostroff@wsj.com

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