U.S. stock futures were trending lower on Monday as inflation continues to worry investors. On Friday, a weaker-than-expected labor market report showed the U.S economy added only 194,000 jobs last month compared to the 500,000 expected. Investors also remain cautious ahead of the release of the FOMC minutes later in the week.
Dow futures were down 0.39%, S&P futures were down 0.53%, and NASDAQ futures were down 0.77% at the time of writing.
Navios Maritime Acquisition Corp. (NNA), UWM Holdings Corp. (UWMC), and New Frontier Health Corp. (NFH) are set to report their quarterly earnings before the market opens. Oil-Dri Corporation of America (ODC), United Bancorporation of Alabama, Inc. (UBAB), and Adamis Pharmaceuticals Corp. (ADMP) will report after the market close.
Camber Energy, Inc. (CEI) was the most active stock in the pre-market session, with 8.76 million shares changing hands at the time of writing. The stock has continued to elicit increased market activity following a short report from Kerrisdale Capital. The company has also recently quashed reports it is considering a reverse stock split.
Trevi Therapeutics, Inc. (TRVI) was the biggest gainer in the pre-market session, jumping 30% at the time of writing. The spike comes on investors reacting favorably to an SEC filing that indicated that the company has applied for an immediate withdrawal of a Registration Statement for a proposed public offering of common stock.
InflaRx NV (IFRX) was the biggest loser in the pre-market session, falling 8.92% at the time of writing. It is still unclear what is causing the stock to tank as no fundamental news has been released to justify the drop.
Rogers Corporation (ROG) has acquired silicone material solutions manufacturer Silicone Engineering Ltd. With the acquisition, the specialty engineering materials company will expand its footprint into Europe. The company should also be able to serve customers requiring premium silicone solutions for use in EV/HEV industrial, medical, and other markets.
ChemoCentryx, Inc. (CCXI) shares popped 96% after the biopharmaceutical company confirmed its orally administered selective complement 5a receptor inhibitor TAVNEOS has been approved by the U.S. Food and Drugs Administration. The drug has been approved for use in patients with severe active anti-neutrophil cytoplasmic autoantibody-associated vasculitis and microscopic polyangiitis.
Apple, Inc. (AAPL) has made an application requiring U.S. District Judge Yvonne Gonzalez Rogers to suspend orders related to an antitrust case lodged by Epic Games. In September, the judge ruled that Apple will have to make changes to its in-app payment system. Reuters reports that the iPhone maker has asked the judge to put the orders on hold as it is preparing an appeal.
Sony (SONY) plans to team up with Taiwan Semiconductor Manufacturing Co. (TSM) to construct a $7 billion semiconductor factory in Western Japan. NIKKEIAsia reports that the factory could start operating by 2024, with the Japanese Government expected to provide half of the amount for its construction.
Nuvei Corp. (NVEI) is teaming up with Visa, Inc. (V) to offer its customers access to fast payouts. The Canada-based payment technology solutions provider plans to implement the Visa Direct push payments platform. The platform will enable fast payout capabilities in addition to real-time routing and the processing of transactions.
