Wall Street stocks opened higher, putting major indexes on course to extend gains that followed the Federal Reserve’s move to speed up its plans to tighten policy. Here’s what we’re watching in Thursday’s trading:
- Korean electric vehicle maker Edison Motors agreed to partner with the hydrogen fuel cell provider
Plug Power
PLUG -2.12%
to develop and bring to market an electric city bus.
-
Rivian,
RIVN 0.26%
FedEx
FDX 0.03%
and
Steelcase
SCS 0.86%
are among the companies reporting earnings Thursday.
A Rivian R1T electric pickup truck during the company’s IPO outside the Nasdaq MarketSite in New York, Nov. 10, 2021.
Photo:
Bing Guan/Bloomberg News
- Crypto firm
Bakkt Holdings
BKKT -3.95%
opened sharply lower. The company’s shares had gotten a boost in October after it partnered with
Mastercard
MA -0.46%
to enable cryptocurrency card payments, but since then the stock has mostly declined.
- Meme stocks
AMC Entertainment
AMC -6.01%
and
GameStop
GME -4.47%
both had a spring in their step premarket.
- Exchange-traded funds under the umbrella of
Cathie Wood’s
ARK Investment bought shares of
Roblox
RBLX 2.62%
and
Roku
ROKU -3.39%
on Wednesday after shares of both companies fell sharply, Barrons reported.
-
Accenture
ACN 0.17%
shares jumped in New York. The Dublin-based consulting company raised its full-year earnings guidance and said it expects double-digit revenue growth in the fiscal second quarter.
- Software company
Adobe
ADBE -0.61%
matched profit forecasts for the recent quarter, but its guidance for fiscal 2022 fell short of expectations.
- Industrial machinery company
Nordson
NDSN 0.20%
said profit rose in the recent quarter driven by higher sales, but it projected sales growth next year to climb at a slower pace.
- U.S.-traded shares of Stockholm-based
Calliditas Therapeutics
CALT -0.44%
soared ahead of the bell. The U.S. Food and Drug Administration granted accelerated approval to a treatment aimed to reduce proteinuria in adults, according to a press release.
- Home builder
Lennar’s
LEN.B 1.36%
earnings and sales reported after Wednesday’s close were both below forecasts.
-
Heico
HEI -0.12%
reported an increase in quarterly operating income and said the negative impact of the pandemic on its business had been declining over time.
Chart of the Day
- The Federal Reserve could make a mistake by tightening too aggressively, but even worse would be a Covid-19 outbreak that takes tightening off the table, writes Heard on the Street columnist Justin Lahart.
Write to James Willhite at [email protected]
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https://www.wsj.com/articles/plug-power-rivian-roblox-lennar-what-to-watch-when-the-stock-market-opens-today-11639655582
