U.S. stock futures rose Monday, pointing to major indexes recovering some ground following the S&P 500’s worst weekly performance since February. Here’s what we’re watching ahead of Monday’s open.
- Biogen shares rose 3.4% ahead of the bell. The pharma stock dropped last week after the company said the launch of its Alzheimer’s drug, Aduhelm, “was slower than we initially anticipated.“
- Airbnb shares slipped 1.4% after analysts at Goldman Sachs Group recommended investors sell the stock. Airbnb and other companies offering drive-to-lodging might benefit as the Delta variant dampens enthusiasm for air travel, Heard on the Street columnist Laura Forman writes.
- ViacomCBS shares rose 1.3%. The media company is revamping the operations of its Paramount Pictures movie and television production unit as part of a broader shake-up of the management, The Wall Street Journal reported.
- APA Corp . , the holding company for oil-and-gas company Apache, rose 2% in premarket trading. Crude-oil prices were heading higher ahead of closely watched supply-and-demand forecasts from OPEC.
- Best Buy rose 1.9% ahead of the bell. The retailer, along with Amazon.com, last week set out a new lineup of smart televisions.
- Wayfair added 2.4%. Shares of the home-goods retailer have fallen over the past month and both Citigroup and Credit Suisse cut their target for the stock in August.
- Global Payments fell 2.1% premarket. Analysts at Morgan Stanley lowered their price target for the payment-technology firm from $219 to $185 a share Friday.
- Unum Group , a Tennessee-based insurer, slipped 2%. S&P Dow Jones Indices said earlier this month Unum would fallout of the S&P 500 and into the S&P MidCap 400 index.
Chart of the Day
After a record-breaking bull run for the U.S. stock market this year, many Wall Street analysts are starting to warn that investors could be in for a bumpy ride.