Futures have fallen and bond yields have reached their highest levels in months due to uncertainties about China Evergrande Group, a major real estate giant with huge debt. This is what we see before the opening bell on Friday.
- Bitcoin prices fell by as much as 5% after China’s central bank said all cryptocurrency-related transactions were illegal, strengthening the country’s strict stance on digital rivals for government-issued money. Cryptographic exchange coin base decreased by 3.6%.
- Meredith shares soared 19% before the market. IAC / InterActive Corp. Negotiations are underway to buy the publisher of the magazine, according to people familiar with the situation.
- Nike’s share price fell 4.7% before it went on sale. The sneaker giant reported quarterly sales growth of 16%, but said production problems in Asia and delays in shipping across the Pacific were holding back sales.
- Progress Software surged 15% pre-launch after business software companies outperformed their revenues and raised their full-year outlook.
- Biopharmacy company vTvTherapeutics said positive results were seen from dose studies for the treatment of psoriasis. Its share surged 32% before the market.
- Costco rose 0.8%. Retailer sales increased in the last quarter, but inflationary pressures continued to rise.
- Aehr Test Systems, a semiconductor testing provider with a market capitalization of approximately $ 287 million, has raised its revenue outlook for the fiscal year. Its share surged 30% before the market.
- Cruise Operator Carnival is one of the companies reporting revenue on Friday.
- Last year, China Evergrande Group’s stock and bond prices soared, offering significant discounts to keep sales growing during a pandemic, and the government said it was effectively over-borrowing. Still, real estate developer auditors gave it a clean health bill in its annual report issued this spring.
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Bitcoin, Nike, Meredith, Carnival: Things to watch when the stock market opens today
Source link Bitcoin, Nike, Meredith, Carnival: Things to watch when the stock market opens today