Kidpik, Biogen, Block, Ally Financial: What to Watch When the Stock Market Opens Today

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Stock futures are edging up ahead of inflation data that are expected to register the largest annual jump in consumer prices in decades.

  • Shares of e-commerce clothing company Kidpik PIK 27.37% rocketed 26% higher premarket, building on Tuesday’s 27% gain. No clear catalyst for the penny stock’s gains: even their website was down for scheduled maintenance. Trading in the stock was briefly paused on Tuesday due to volatility.
  • Block SQ 2.73% shares gained 1.7% premarket. The company formerly known as Square’s acquisition of Afterpay has cleared its final regulatory hurdle and will be implemented on Feb. 1, the Australian buy-now-pay-later provider said.
  • Biogen BIIB 2.64% dropped 10% ahead of the bell. Medicare officials said they would cover Biogen’s controversial Alzheimer’s disease drug Aduhelm on the condition that patients are in clinical trials and have early-stage symptoms.

The Biogen headquarters in Cambridge, Mass., June 7, 2021.

Photo: cj gunther/Shutterstock

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Write to James Willhite at james.willhite@wsj.com

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