This article was originally published on TipRanks.com
U.S. stock futures were trending higher on Thursday as investors cheered reports that the Omicron Covid-19 variant might be less severe than initially feared. Solid economic data out of the U.S. also continues to affirm investor sentiment.
Dow futures (DJIA) were up 0.18%, S&P futures (SPX) were up 0.15%, and Nasdaq futures (NDX) were up 0.04% at the time of writing
Mogu, Inc. (MOGU) is expected to report quarterly results before the market opens. Forward Industries (FORD), GEE Group (JOB), Sanderson Farms (SAFM), and Western Resources Corp. (WTRNF) are also scheduled to report during the day.
Pasithea Therapeutics Corp. (KTTA) was the most active stock in the pre-market session, with 2.96M shares changing hands at the time of writing. The increased market activity comes on the company confirming the acquisition of a second Ketamine Therapy Clinic in the United Kingdom.
Tarena International (TEDU) was the most active stock in the pre-market session, jumping 351.8% 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.
SciPlay Corp. (SCPL) was the biggest loser in the pre-market session, falling 17.07% at the time of writing. The sell-off comes on the company’s independent committee announcing it is unable to reach an agreement with Scientific Games regarding Scientific Games’ proposal to minority shareholders.
Discovery, Inc. (DISCA) has secured regulatory approval from the European Commission for its proposed acquisition of AT&T’s (T) WarnerMedia business. The company is acquiring high-profile brands under WarnerMedia, including CNN, TBS, TNT, Food Network, and Discovery Channel. The deal is expected to close in the middle of next year.
MoneyGram International, Inc. (MGI) has inked a strategic partnership agreement with Indian payments bank Paytm Payments Bank to enable smooth money transfer. The partnership will allow MoneyGram customers to send money in near real-time directly to millions of fully KYC-compliant Paytm wallets in India and worldwide.
Tesla (TSLA) has submitted all the necessary documentation as it continues to push for the approval of its electric vehicle factory in Berlin, Germany, according to Reuters. It is still unclear whether the company will secure approval given the environmental resistance and red tape. A decision on the factory could come early next year.
CarMax, Inc. (KMX) shares fell 6.7% despite the company delivering robust third-quarter results. Quarterly earnings jumped 14.8% year-over-year to $1.63 a share, exceeding consensus estimates of $1.44 a share. Net revenue was up 64.5% year-over-year to $8.52 billion, exceeding consensus estimates of $7.53 billion.
Cintas Corporation (CTAS) shares fell 1.8% after the provider of corporate identity solutions delivered disappointing Fiscal 2022 earnings guidance. Earnings landed at $2.76 a share, beating consensus estimates of $2.64 a share. Revenue grew 9.4% year-over-year to $1.92 billion, exceeding consensus estimates of $1.9 billion.
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