Lucid, Tesla, Nvidia, Cisco: What to watch out for on the stock market today

0
34

WSJ.com: Markets

The Wall Street indices opened lower amid yet another string of earnings reports from retailers and tech companies. Let’s see on Wednesday:

  • On Tuesday, the Lucid Group is the youngest electric vehicle startup for the top automotive icon Ford Motor in market value.
  • Tesla CEO Elon Musk continued his sales frenzy on Tuesday, unloading an additional 934,000 shares for around $ 973 million.
  • Rivian stocks were bearish in early trading – though that doesn’t seem like a big deal for a stock that has more than doubled in the past week. Rivian, another new electric vehicle maker focused on trucks and SUVs, went public last week with a market value that quickly overtook Ford’s and has since surpassed GM’s.
  • Amazon said it will stop accepting Visa credit cards issued in the UK, blaming the fees Visa charges. Visa described the move as a threat to consumer choice.
  • Target said sales rose last quarter as Christmas sales started early and that it stocked up before Black Friday and joined other retail giants who have avoided supply chain herbs.
  • TJX said third quarter net sales were up 24% year over year.
  • La-Z-Boy said sales hit a record high in the second quarter of the fiscal year and the company is in a position to increase capacity to meet increased demand.
  • Star Bulk Carriers’ profits have soared over the last period and sales have more than doubled amid a supply chain crisis that helped dry matter volumes recover.
  • Pfizer said Tuesday it had asked U.S. health regulators to approve its oral Covid-19 drug for use in high-risk patients and put the pill on a path that could make it available for people at home by the end of the year .
  • Cisco Systems, Nvidia, Bath & Body Works and Americas Car-Mart should report after the close of trading.
Chart of the day
  • South Korea was one of the top performing major stock markets in the world, valued at over $ 1.6 trillion in August, according to the World Federation of Exchanges. However, since then it has been hit by rising interest rates, a slowdown in global growth, constrained household borrowing and concerns that memory chip prices have peaked.

Write to James Willhite at james.willhite@wsj.com

Source Link

Leave a Reply