Pinterest, Bakkt, Tesla, Facebook: What to Watch When the Stock Market Opens Today
- Date: 25-Oct-2021
- Source: The Wall Street Journal
- Sector:Financial Markets
- Country:Middle East
Pinterest, Bakkt, Tesla, Facebook: What to Watch When the Stock Market Opens Today
Stock futures are ticking higher ahead of a busy week of earnings from big technology companies. Here’s what we’re watching ahead of Monday’s open:
Pinterest shares dropped 12% premarket after U.S. payments giant PayPal Holdings said it isn’t currently pursuing a deal for the social-media platform, days after media reports that the companies were in early talks for a multibillion-dollar deal. PayPal shares climbed 6.9%.
Bakkt , a cryptocurrency trading platform that went public through a SPAC deal last week, jumped 6% premarket. Rival crypto exchange Coinbase was also up, by 2.2%. Bitcoin itself was up more than 3% from its Friday 5 p.m. ET level.
Cruise operator Carnival slipped 1%. Citi cut its rating of the stock to neutral from buy, though the bank also expects the company to shift from burning cash to generating cash over the next 12 months as fleet deployments ramp up.
Analysts at Citi also cut the price target on Coupang shares to $32 from $39. The South Korea-based e-commerce company’s stock slipped
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