U.S. stock futures wavered and bond yields rose as fresh data on inflation and the labor market were released. Here’s what we’re watching in Thursday’s trading:
- Shares of Virgin Galactic tumbled 10% premarket after the space company said Thursday it is planning to offer $425 million of convertible bonds that mature in 2027 in a private offering.
- Earnings season is back. Delta Air Lines said Thursday it expects to shake off the impact of the Omicron variant of Covid-19. Shares rose 2.4% premarket. Other airliners also gained premarket, with American Airlines up 1.6% and United Airlines up 1.8%.
- Shares of BTCS , a blockchain technology company, surged 22% premarket, poised to continue a recent rally after the Nasdaq-listed company said last week that it would pay a dividend in the cryptocurrency bitcoin.
- Cryptocurrency companies also saw shares climb premarket. Cryptocurrency exchange Coinbase Global added 2% while bitcoin-miner Marathon Digital Holdings edged up 1.6%.
- KB Home shares jumped more than 9% premarket after the home builder reported higher profit and revenue for the fourth quarter, helped by strong demand despite supply-chain disruption.
- U.S.-listed shares of Taiwan Semiconductor Manufacturing added more than 5% premarket after the world’s largest contract chip maker’s fourth-quarter net profit rose 16% from a year earlier, driven by strong demand for chips used in computers and smartphones.
- ElectroCore shares fell 13% premarket Thursday. Shares surged more than 60% Wednesday after the company said its gammaCore noninvasive vagus nerve stimulation received U.S. Food and Drug Administration breakthrough device designation for the treatment of post-traumatic stress disorder.
- Boeing shares added 2.3% premarket. On Tuesday, the company said it sold more aircraft than Airbus last year but delivered half as many passenger jets, in a sign of the changing landscape facing the world’s two dominant plane makers.
- Snap shares fell 3% premarket. Cowen cut the stock to market perform from outperform and lowered its price target.
- Regulators in South Korea authorized Novavax’s Covid-19 vaccine Wednesday, allowing it to join the ranks of previously authorized shots. Despite this, shares of Novavax fell more than 2% premarket.
- Match Group added 3% after Piper Sandler set a price target of $130 a share for the dating company. The stock closed Wednesday at $124.08.
- Shares of homebuilder Lennar added 2.8% premarket after the company said Wednesday that its board of directors has increased its annual dividend to $1.50 per share from $1.00 per share.
Chart of the Day
- Europe’s growing dependence on Russian gas and oil is limiting the continent’s room to maneuver in the mounting U.S.-Russia crisis over security in the region and making it highly vulnerable in the event of an escalation.
Write to Caitlin Ostroff at caitlin.ostroff@wsj.com
Read More: Delta, Virgin Galactic, KB Home, Taiwan Semiconductor: What to Watch in the Stock Market