- 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.
- General Motors GM 0.64% added 1.2% premarket. The auto maker’s new CarBravo marketplace will let U.S. GM dealers sell used cars online, a move that adds new competition to the used-vehicle market and reflects a strategic shift for GM.
- Results are due from Jefferies Financial Group JEF 2.22% this morning.
- Ally Financial ALLY 0.76% shares rose 2.9% premarket. The financial services company’s board approved a dividend hike and a share-repurchase program.
- DoorDash DASH 7.64% gained 2.8%. Evercore ISI Group lifted its rating on the stock and set a price target of $256 a share. On Tuesday it closed at $143.64.
- KB Home KBH 2.58% and E2open Parent Holdings ETWO 1.90% are due to report after Wednesday’s close.
Chart of the Day
- Streetwise columnist James Mackintosh looks at three ways the market seems to be returning to normal after its pandemic unruliness, plus one possible change in its long-term pattern.
Write to James Willhite at email@example.com
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