U.S. stock futures were trending lower on Thursday amid growing fears that the spread of the coronavirus Delta variant could stunt the economic recovery. Uncertainty as to when the Federal Reserve will taper monetary support also continued to weigh on sentiments.
Dow futures were down 0.24%, S&P futures were down 0.27%, and Nasdaq futures were down 0.20% at the time of writing.
Academy Sports & Outdoors Inc. (ASO), VIA Optronics AG (VIAO), and Lovesac Co. (LOVE) are set to report their quarterly earnings before the market opens. Affirm Holdings Inc. (AFRM), A-Mark Precious Metals Inc. (AMRK), and Lakeland Industries Inc. (LAKE) will report after the market close.
PharmaCyte Biotech (PMCB) was the most active stock in the pre-market session, with 2.32 million shares changing hands at the time of writing. It is still unclear what is causing the increased market activity as no fundamental news has been released.
Torrid Holdings (CURV) was one of the biggest gainers in the pre-market session, jumping 12.95% at the time of writing. The spike comes after the apparel and intimate brands for women delivered better-than-expected second-quarter results. Net income more than doubled to $38.8 million from $16.8 million delivered the same quarter last year.
Humanigen (HGEN) was the biggest loser in the pre-market session, dropping 53.28% at the time of writing. The sell-off comes after the U.S. Food and Drug Administration declined emergency use for the company’s COVID-19 drug.
JPMorgan Chase & Co. (JPM) has reached an agreement to acquire a 75% stake in Volkswagen AG’s (VWAGY) payments platform. The acquisition will allow the financial and investment banking service company to expand its footprint in the wider car industry. It should also strengthen its digital payment capabilities.
Square, Inc. (SQ) has launched Square Register in Canada. The new program will allow Canadians to process transactions in a seamless and cashless manner. The service is designed to enable integrated omnichannel transactions. It is also configured to allow sellers to manage their in-person and online businesses from one place.
Walmart Inc. (WMT) has priced $2 billion worth of green bonds. The company intends to use net proceeds from the offering to fund its existing and future projects. The funds should also enable the retail giant to achieve its sustainability goals. The company has already established a portfolio of Eligible Green Investments that will benefit from the funds.
AT&T (T) has inked a strategic partnership with OneWeb as it looks to enhance network connectivity in some of the “Hard-to-Serve” areas across the U.S. The partnership will allow the company to use satellite technology to enhance network connections. Consequently, the company should be able to reach areas that existing broadband networks cannot reach.
Chevron U.S.A Inc., a subsidiary of Chevron Corporation (CVX), is teaming up with Caterpillar (CAT) to explore the potential use of hydrogen as an alternative fuel. The two intend to explore the potential use of hydrogen to power locomotives and hydrogen fueling infrastructure.
