October 11, 2021
  • October 11, 2021

Invesco, Lucid, Diamondback: what to watch for when the stock market opens today

By on September 17, 2021 0

S&P 500-linked futures were down 0.25% on Friday morning, indicating a moderate end to a choppy week in the markets. Here is what we are seeing before the market opens.

  • Invesco jumped more than 6% in pre-market trading after the Wall Street Journal reported that the investment giant was in talks to merge with State Street’s asset management business. State Street rose 0.5%.
  • Manchester United football club, which recently brought back star striker Cristiano Ronaldo, are expected to release their results on Friday before markets open.
  • Diamondback Energy climbed 4.4% after saying its board approved a plan to repurchase $ 2 billion of its shares.
  • U.S.-listed shares of Chinese tech companies edged up pre-market after Hong Kong’s Hang Seng tech sub-index jumped 3.5%. Online grocer Pinduoduo grew 2%, e-commerce platform JD.com rose 2.2%, and video-sharing site Bilibili grew 2.1%.
  • Electric vehicle maker Lucid Group was still up 5.5% pre-market after jumping more than 6% on Thursday after the company received a note from the U.S. Environmental Protection Agency that the one of its cars has a range of 520 miles, the longest of any car rated by the EPA.
  • U.S.-listed shares of Spanish pharmaceutical company Grifols fell 3% after it said it had reached a deal to buy a controlling stake in German competitor Biotest for $ 1.3 billion.
  • Computer accessories company Logitech slipped 3.5%, extending its decline for a fourth day. Stocks have lost more than 6% of their value this week.
Card of the day
  • DoorDash, Uber Eats and Grubhub have sued New York City over its decision to adopt permanent caps on the commissions delivery companies can charge restaurants. A loss for delivery companies could reshape their economy, says Laura Forman of Heard on the Street.

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