U.S. stock futures were trending higher on Friday ahead of the release of the much-awaited jobs report for December. The report comes on the heels of the hawkish stance taken by the Federal Reserve that has roiled markets in the first week of the year.
Dow futures (DJIA) were up 0.17%, S&P futures (SPX) were up 0.25%, and Nasdaq futures (NDX) were up 0.31% at the time of writing.
Upcoming Earnings
Acuity Brands, Inc. (AYI) is scheduled to report its quarterly results before the market opens. Greenbrier Companies (GBX), Lawson, Inc. (LWSOF), Ryohin Keikaku Co. Ltd. (RYKKF), Schmitt Industries (SMIT), and Stevens Gold Nevada (STVGD) are also scheduled to report during the day.
Pre-Market Movers
Siyata Mobile (SYTA) was the most active stock in the pre-market session, with 1.28M shares changing hands at the time of writing. The stock was down about 43.03% as investors reacted to the pricing of a $20 million underwritten public offering.
Marin Software Incorporated (MRIN) was the biggest gainer in the pre-market session, jumping 27.25% at the time of writing. The spike comes on the company announcing integration with Amazon Ads’ demand-side platform. The integration should allow brands to easily manage, measure, and optimize their Amazon advertising campaigns.
China Natural Resources (CHNR) was one of the biggest losers in the pre-market session, falling 16.28% at the time of writing. It is still unclear what is causing the stock to fall as no fundamental news has been released to justify the drop.
Market News
In M&A news Alteryx, Inc. (AYX) has entered into an agreement to acquire cloud computing company Trifacta for $400 million. The deal looks set to close in the current quarter. The acquisition is a perfect fit as it aligns with the company’s push to develop cloud-first capabilities to help enterprises drive their analytics transformation.
Meta Platforms, Inc. (FB) and Alphabet, Inc. (GOOGL) are staring at a combined fine of up to $235 million in France. The fine is in relation to claims the companies violated the country’s data privacy rules. Media reports indicate Meta could be hit with a €60 million fine and Google €150 million for failing to allow French users to reject cookie tracking technology.
AT&T’s (T) WarnerMedia and ViacomCBS (VIAC) are exploring the possibility of selling a large stake or the entire CW Network. The Wall Street Journal reports that Nexstar Media (NXST) has shown strong interest in acquiring the unit, best known for content that targets teens and young adults. The divestment push comes at a time when AT&T is also in the process of selling its WarnerMedia business.
Shares of Walgreens Boots Alliance, Inc. (WBA) fell 2.9% after the company delivered its Fiscal first quarter 2022 results and provided guidance for the year. The company posted adjusted earnings of $1.68 a share, easily beating consensus estimates of $1.33 a share. Total sales were up 7.8% year over year to $33.9 billion, exceeding analysts’ expectations of $32.74 billion.
Shares of Bed Bath & Beyond Inc. (BBBY) popped about 22.5% despite the merchandise retailer delivering disappointing fiscal third-quarter results. The company delivered an adjusted quarterly loss of $0.25 a share, worse than analyst estimates of $0.00 a share. Net sales were down 28% year-over-year to $1.88 billion, falling short of the $1.96 billion expected.
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