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 PINS -5.36% shares dropped 16% premarket after U.S. payments giant PayPal PYPL -1.16% 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 5.1%.
PayPal shares climbed after it denied it was pursuing a deal to acquire Pinterest.
Photo: Yichuan Cao/Zuma Press
- Bakkt, BKKT 13.95% a cryptocurrency trading platform that went public through a SPAC deal last week, jumped 9.3% premarket. Rival crypto exchange Coinbase COIN 0.28% was also up, by 2%. Bitcoin itself was up more than 3% from its Friday 5 p.m. ET level.
- Trading in Digital World Acquisition, DWAC 107.03% the SPAC that is merging with Donald Trump’s media company, was picking up again after last week’s wild ride. Class A shares were up 14% premarket, after Friday’s 107% jump.
- Phunware, PHUN 471.24% a penny stock also with Trump ties, was up 28% premarket, after Friday’s 471% surge. The small technology company isn’t profitable, but it has worked for the former president’s campaign.
- Cruise operator Carnival CCL -0.18% slipped 1.4%. 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.
- Otis Worldwide OTIS 0.33% gained 1.3% after the maker of elevators and escalators said its profit rose for the third quarter as sales grew in both the new-equipment and service segments.
- Kimberly-Clark KMB 1.34% shares dropped 2.7%. The paper-products maker lowered its full-year earnings guidance as the company said supply-chain challenges have raised costs.
- Tesla TSLA 1.75% shares added 4% premarket. Japan’s Panasonic PCRFY 3.09% showed off for the first time a larger lithium-ion battery that it plans to supply to the U.S. electric-vehicle maker.
- Clearway Energy CWEN 1.32% gained 1.3% premarket after it agreed to sell its thermal-energy business to KKR for $1.9 billion.
- Facebook FB -5.05% and Crane are among the companies reporting after Monday’s close.
Chart of the Day
- Propane prices haven’t been so high heading into winter in a decade, which is bad news for the millions of rural Americans who rely on the fuel to stay warm.
Write to James Willhite at james.willhite@wsj.com
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