U.S. stock future was mixed on Tuesday amid growing bets that the U.S. Federal Reserve will push back on tapering of its bond purchases. Last week’s soft U.S. payroll report has affirmed bets that the central bank is unlikely to change its monetary policy in its next meeting.
Dow futures were up 0.03%, S&P futures were down 0.02%, and Nasdaq futures had slid 0.06% at the time of writing.
Forte Biosciences Inc. (FBRX), Centogene NV (CNTG), and Cheetah Mobile Inc.(CMCM) are set to report their quarterly earnings before the market opens. Applied Genetic Technologies Corp (AGTC), Adamis Pharmaceuticals Corp (ADMP), and Brundage-Bone Concrete Pumping Holdings Inc. (BBCP) will report their earnings after the market close.
Camber Energy, Inc. (CEI) was the most active stock in the pre-market session, with about 3.54 million shares exchanging hands at the time of writing. Currently, there is no specific company news fuelling the increased market activity.
IronNet (IRNT) was the biggest gainer in pre-market session, jumping 85.95% at the time of writing. The spike in the market comes on the heels of the company completing a business combination with special purpose acquisition company LGL Systems Acquisition Corp.
Forward Pharma A/S (FWP) was one of the biggest losers in the pre-market session, dropping 19.11% at the time of writing. The sell-off comes after the company announced that the Technical Board of Appeal (TBA) of the European Patent Office (EPO) dismissed its appeal of the previous decision of the EPO Opposition Division to revoke the EP2801355 patent.
In M&A news, VEON Ltd. (VEON) has confirmed the sale of its mobile network tower assets in Russia for $970 million to Service-Telecom. The transaction, which is scheduled to close in the fourth-quarter, will allow the connectivity and internet service company to realize the value of its infrastructure portfolio. Funds from the sale should also allow the company to deleverage its balance sheet and invest in new projects.
Public Storage (PSA) has priced a public offering as it looks to raise €700 million aggregate principal amount from Senior Notes due 2030. The notes bear a 0.5% annual interest rate and will be issued at 99.388% par value. The company intends to use net proceeds from the offering to strengthen its self-storage facilities and make additional investments.
Meanwhile, ICL Group Ltd. (ICL) has secured a sustainability loan worth €250 million. The five-year term loan comes with a fixed annual interest rate of 0.8%. The loan should allow the specialty minerals company to reduce direct and indirect Scope 1 and Scope 2 CO2 emissions from its global operations.
Alphabet’s (GOOGL) Google has joined Facebook (FB), Microsoft (MSFT), and Amazon (AMZN) in their endeavor to meet with the new Malaysian Prime Minister, Ismail Sabri Yaakob. The tech giants are seeking permission to be allowed to use foreign vessels to repair undersea cables. The companies plan to discuss the cabotage policy with the premier.
