Lyft, Twitter, Cisco, Yelp: What to Watch for When the Stock Market Opens Today


Futures of US stocks rose On Wednesday, when investors pinned their hopes on fresh stimulus from Washington.

Futures linked to the S&P 500, the Dow Jones Industrial Average and the high-tech Nasdaq-100 were up 0.5%. Read our full market overview here.

What’s coming

Profits are due by Zillow,

ZG 2.28%

Zynga ZNGA 2.81%

and Wyndham Hotels & Resorts WH -0.30%

after closing.

Market drivers to consider

– Lyft LYFT 0.43%

Shares are taking off up 11% pre-market after Uber’s competitor reported a tighter quarterly loss even as its business was hit by the pandemic. Uber UBER 0.54%

she herself added 6.4%.

—Technology and security company Akamai AKAM 0.59%

The shares were down 7.8% before the bell. After Tuesday’s close, it reported higher revenue in the fourth quarter, but profits fell due in part to higher costs and operating expenses.

– Coca-Cola KO -0.44%

The earnings report put some fizz on its shares, which were up 2% pre-market. Their adjusted profit beat expectations even as sales declined.

– General Motors GM -1.44%

shares were down 1% even after their fourth-quarter earnings beat Wall Street expectations.

– Twitter TWTR 2.87%

Shares rose more than 7% pre-market after the social media platform reported continued user growth during a period in which it ousted the former chairman of its platform, a move that Twitter’s finance chief said advertisers welcomed.

Another SPAC on the prowl: Forest Road Blank Check Company Acquisition FRX -0.28%

The shares were up 13% before trading. The Beachbody Company Group fitness and nutrition business plans to merge with SPAC, which is affiliated with former TikTok CEO Kevin Mayer, in a deal that values ​​the combined company at nearly $ 3 billion.

– Cisco CSCO -0.90%

It fell 4.7% pre-market after reporting a lower profit in the last quarter. The network equipment maker also said it expects revenue to grow again this quarter.

– Mattel MAT 2.17%

Shares rose 2.3% pre-market after the toy maker’s quarterly earnings report beat Wall Street expectations as sales rose 10%.

—YELP Yelp e-commerce platform 2.18%

Shares of ‘rose 2.7% in after-hours trading after they posted better-than-expected sales and earnings.

Company stocks favored by the Reddit crowd they are expanding their recent pattern of bouncing in smaller increments. GameStop GME -16.15%

is up 1.1%, Koss KOSS -5.68%

is down 4.1% and AMC Entertainment AMC -11.00%

it has risen 4.4%.

An air traveler walks to a Lyft pickup area at Los Angeles International Airport, August 20, 2020.


Photo:

Mario Tama / Getty Images

Market fact

Hong Kong Stock Exchanges and Clearing 388 3.79%

It is now the most valuable exchange group in the world, according to data from S&P Global Market Intelligence. HKEX shares have risen 92% in the past 12 months, according to S&P.

Chart of the day

Lenders are full of cash they want to use, and banks expect loan growth to pick up in 2021.

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