This article was originally published on TipRanks.com
U.S. stock futures were trending higher on Wednesday as investors continue to position their portfolios for the New Year. Investors remain cautious amid growing concerns over the impact of increasing Omicron coronavirus cases.
Dow futures (DJIA) were up 0.15%, S&P futures (SPX) were up 0.20%, and Nasdaq futures (NDX) were up 0.34% at the time of writing.
FuelCell Energy (FCEL) and Puxin Ltd. (NEW) are set to report their quarterly results before the market opens.
ShiftPixy, Inc. (PIXY) was the most active stock in the pre-market session, with 6.86M shares changing hands at the time of writing. The stock was also up by about 90.18%. It is still unclear what is triggering the increased market activity as no fundamental news has been released.
Pop Culture Group (CPOP) was one of the biggest gainers in the pre-market session, jumping 23.81% at the time of writing. It is still unclear what is causing the stock to spike as no fundamental news has been released to justify the pop.
Chembio Diagnostics (CEMI) was the biggest loser in the pre-market, falling 18.59% at the time of writing. The sell-off comes on the company announcing that the U.S. Food and Drug Administration refused to review its CO’s application for EUA for DPP Respiratory antigen panel.
Darling Ingredients, Inc. (DAR) has reached an agreement to acquire cooking oil facilities operator Valley Proteins for $1.1 billion in cash. The acquisition will allow the organic ingredients manufacturer to gain a strong foothold in southeast and mid-Atlantic areas. The company will also access low-carbon feedstock to produce renewable diesel and sustainable aviation fuel.
Meanwhile, Vista Outdoor, Inc. (VSTO) has confirmed the acquisition of Stone Glacier. The acquisition will allow the sports product manufacturer to widen its offerings to include packs, camping equipment, and technical apparel. The acquisition also reinforces the company’s reputation in the outdoor industry.
JD.com, Inc.’s (JD) board has approved an increase of the existing stock repurchase program from $2 billion to $3 billion. The authorization has been extended until March 17, 2024. Meanwhile, Tencent Holdings Ltd. (TCEHY) intends to reduce its holding in the Chinese e-commerce company to 2.3%. It currently owns a 17% stake.
Accenture plc. (ACN) subsidiary Accenture Federal Services (AFS) has secured a contract worth $87 million from the U.S. Patent and Trademark office. Under the terms of the agreement, AFS is to work with the Chief Information Officer to enhance the Trademark Product Line. The contract entails coming up with solutions to make the full trademark lifecycle more efficient.
Starboard Value has reached an agreement to acquire a 6.5% stake in GoDaddy, Inc. (GDDY). Citing regulatory filings, Reuters reports that the activist investor’s new purchase is valued at about $800 million. The investor is also open to increasing or decreasing stakes in the web services firm, depending on overall market conditions.
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