U.S. stock futures were trending higher on Friday as investors await crucial jobs data that could provide clues on the Federal Reserve’s tapering schedule. Investors also welcomed news about the U.S Senate temporarily lifting the debt ceiling.
Dow futures were up 0.13%, S&P futures were up 0.14%, and Nasdaq futures were up 0.10% at the time of writing.
MTY Food Group (MTYFF), North Bud Farms, Inc. (NOBDF), TAL Education Group (TAL), Four Seasons Education (Cayman), Inc. (FEDU), and New Frontier Health Corp. (NFH) are set to report their quarterly earnings before the market opens. GreenTree Hospitality Group Ltd. (GHG) will report after the market close.
Camber Energy, Inc. (CEI) was the most active stock in the pre-market session, with 15.55 million shares changing hands at the time of writing. The increased market activity comes after the company confirmed it is not considering a reverse stock split. The company also reported condensed combined revenues of $19.79 million for the six months ended September 30, 2020.
Sundial Growers (SNDL) was one of the biggest gainers in the pre-market session, jumping 17.28% at the time of writing. The pop comes after the cannabis producer announced it has reached an agreement to acquire Alcanna for a total consideration of $346 million.
Macquarie Infrastructure Company (MIC) was the biggest loser in the pre-market session, falling 91.35% at the time of writing. It is still unclear what is causing the stock to implode as no fundamental news has been released to justify the drop.
In M&A news, Fiverr International Ltd. (FVRR) has confirmed the acquisition of the online learning company CreativeLive. The financial terms of the deal remain under wraps. With the acquisition, the online marketplace and freelance services company gains access to over 2,000 classes and 10 million users. CreativeLive offers learning opportunities across various creative and business categories.
Meanwhile, KKR & Co., Inc. (KKR) has acquired a Class A industrial distribution property in the Papago industrial park in Phoenix, Arizona. The financial terms of the deal remain under wraps. The acquisition is in a high conviction market for the company’s real estate business, and the property has been previously leased to a leading industrial building products manufacturer.
Shares of Tetra Tech, Inc. (TTEK) popped 3.5% after the high-end consulting and engineering services company announced an additional $400 million stock repurchase program. The company now has $563 million to spend on buybacks. Over the last 12 months, it has returned $98 million to shareholders through buybacks, with its cash flow from operations having surged to $294 million.
Visa, Inc. (V) has expanded its Visa Installment service to Australia. The expansion will allow people in Australia to enjoy the “Buy Now Pay later” offering using ANZ credit cards in-store and online. Additionally, acquirers on the network will be able to activate the ability to accept installments for any of their retailers.
Conagra Brands, Inc. (CAG) delivered better-than-expected fiscal first-quarter results after shrugging off inflationary pressures. Adjusted earnings landed at $0.50 a share, down 28.6% year-over-year but slightly above consensus estimates of $0.49 a share. Net sales fell 1% year-over-year to $2.65 billion but exceeded consensus estimates of $2.52 billion.
