U.S. stock futures were trending lower on Wednesday after retreating from record highs on Tuesday. Sentiments in the stock markets have taken a hit as investors remain wary of spiking coronavirus infection rates across the U.S. and threaten the economic reopening.
Dow futures were down 0.33%, S&P futures were down 0.18%, and Nasdaq futures were down 0.08% at the time of writing.
Market participants await the release of the Federal Open Market Committee meeting minutes later in the day, which is likely to provide clues on the tapering timeline.
Scienjoy Holding Corp. (SJ), Target Corp. (TGT), and Lowe’s Companies Inc. (LOW) are set to report their quarterly earnings before the market opens. DLocal Ltd. (DLO), Bath & Body Works Inc. (BBWI), and Robinhood Markets Inc. (HOOD) will report after the market close.
TD Holdings (GLG) was the most active stock in the pre-market session, with 3.01 million shares changing hands at the time of writing. The stock was also up by about 37.65% a day after reporting second-quarter results that showed a 2,981% increase in revenue to $59.84 million.
Virpax Pharmaceuticals (VRPX) was the biggest gainer in pre-market trading, jumping 62.81% at the time of writing. The spike comes a day after the company confirmed it had received a written pre-investigational new drug response from the Food and Drug Administration for MMSO19.
Zenvia, Inc. (ZENV) was the biggest pre-market loser, falling 14.30% at the time of writing. Given the lack of news or fundamental developments, it is still unclear what is fueling the sell-off.
KKR & Co. Inc. (KKR) has reached an agreement to sell its infill and light industrial portfolio for $2.2 billion to Oxford Properties. The estate portfolio that is up for sale spans an area of about 14.5 million square feet and includes 149 distribution buildings. The deal is expected to close in the coming months.
Meanwhile, Humana Inc. (HUM) has completed the acquisition of Kindred Home, a provider of home healthcare hospice and related services. The terms of the deal remain under wraps. The investment should allow the health insurance company to gain a strong foothold in the home health hospice and personal care services space.
Salesforce (CRM) has moved to make sales, services, and marketing activities on its Slack-First Customer platform more efficient. The company has added new features on the platform that it hopes will reshape how work gets done on the platform by connecting employees, customers, and partners.
Walmart, Inc. (WMT) delivered better-than-expected second-quarter results and raised its full-year 2021 guidance. Total revenue in the quarter was up 2.4% to $141.05 billion, surpassing consensus estimates of $136.74 billion. Adjusted earnings increased 14% year-over-year to $1.78 a share, surpassing Street estimates of $1.56 a share.
monday.com (MNDY) shares popped 24.45% after the company delivered solid second-quarter results and issued strong third-quarter and full-year guidance. Revenue increased 94% year-over-year to $70.6 million, beating consensus estimates of $62.11 million. The diluted loss narrowed to $0.26 a share, better than the loss of $1 a share expected by the Street.
