This article was originally published on TipRanks.com
U.S. stock futures were trending lower on Tuesday as concerns about the potential impact of the Omicron variant sent jitters through investors. U.S. Federal Reserve Chairman Jerome Powell has already pointed out that the new variant and surge in infections pose a significant threat to the U.S. economy.
Dow futures (DJIA) were down 1.39%, S&P futures (SPX) were down 1.10% and Nasdaq futures (NDX) were down 0.54% at the time of writing.
Bank of Nova Scotia (BNS), Hello Group (MOMO), and ICLICK INTERACTIVE ASIA GROUP (ICLK) are scheduled to report their quarterly results before the market opens. Arteris (AIP), Box (BOX), and Emcore Corp (EMKR) will report after the market close.
Cumberland Pharmaceuticals, Inc. (CPIX) was the most active stock in the pre-market session, with 1.50M shares changing hands at the time of writing. The increased market activity comes on the heels of the U.S. Food and Drugs Administration approving the expanded labeling of Caldolor to include use in pre-operative administration.
Pioneer Power Solutions (PPSI) was one of the biggest gainers in the pre-market session, jumping 29.23% 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.
Skylight Health Group (SLHG) was one of the biggest losers in the pre-market session, falling 21.23% at the time of writing. It is still unclear what is causing the stock to fall, as no fundamental news has been released to justify the drop.
Church & Dwight Co., Inc. (CHD) has entered into an agreement to acquire the oral care products brand, TheraBreath, for $580 million. The household products manufacturer will finance the deal through debt, with the transaction expected to close before the end of the year. The acquisition should allow the company to gain a foothold in the alcohol-free mouthwash category.
Apollo Global Management (APO) and Athene Holding (ATH) are joining forces to acquire a controlling stake in Aqua Finance for about $1 billion. The investment will be managed by Apollo, with Blackstone (BX) expected to continue to maintain a minority stake in the company. The transaction is expected to close in the first half of next year.
EBay, Inc. (EBAY) has completed the acquisition of Sneaker Con Digital’s sneaker authentication business. The financial terms of the deal remain under wraps. The acquisition is a big addition in eBay’s sneaker section and will go a long way in strengthening and accelerating the company’s sought-after sneaker segment.
Shares of Chegg, Inc. (CHGG) popped by 2.8% after the company announced the acquisition of the leading language learning platform Busuu. The company also announced plans to accelerate its share repurchasing program, worth $300 million. With the acquisition, the company should strengthen its foothold in the growing digital language learner market.
Tencent (TCEHY) has conceded to regulatory pressure and now plans to open up its social networking app, WeChat. Bloomberg reports that the company will allow people to share third-party links on WeChat Group’s as part of a new update. The company had initially allowed people to only share third party links in one-on-one conversations.
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