Stock indexes opened higher amid earnings from some of the country’s biggest companies. Here’s what we’re watching in Tuesday’s trading:
Chart of the DayWrite to Joe Wallace at joe.wallace@wsj.com
...Stock indexes opened higher amid earnings from some of the country’s biggest companies. Here’s what we’re watching in Tuesday’s trading:
- Facebook posted a third-quarter profit of $9.19 billion, up 17% from the same period last year.
- Bakkt edged down in early trading, after the stock more than tripled Monday. Mastercard said it had partnered with the crypto firm to enable cryptocurrency card payments.
- General Electric beat Wall Street forecasts for earnings per share, and said orders rose 42%.
- 3M topped predictions of net income and sales, saying demand for its products remained strong.
- Google owner Alphabet is one of several companies, including Microsoft, Twitter and Robinhood Markets, due to report after the close.
Sundar Pichai, Alphabet’s chief executive, at WSJ Tech Live on Oct. 18.
Photo: The Wall Street Journal
- Hasbro posted a 15% rise in net earnings in the third quarter.
- U.S.-listed shares of Up Fintech jumped after the brokerage, based in Beijing, said Hong Kong’s securities regulator had approved its acquisition of Ocean Joy Securities.
- B. Riley Principal 150 Merger was gaining in morning trading. The SPAC is combining with FaZe Clan to take the youth-focused digital platform public, a $1 billion deal earlier reported by The Wall Street Journal.
- Crane reported earnings and gave the green light to a share repurchase plan.
- Shares of Digital World Acquisition, the SPAC that has agreed to take former President Donald Trump’s social-media venture public, was extending gains in early trading, after having surged over the past week.
- Phunware, an unprofitable tech company that worked for the former president’s campaign, was reversing course to fall by double-digit percentages in early trading after having also jumped amid the excitement over DWAC.
Chart of the Day
- U.S. banks are overrun with cash. So they are loading up on debt, propelling a corporate-bond market that otherwise had slowed from last year’s pandemic-induced debt bonanza.
Write to Joe Wallace at joe.wallace@wsj.com
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October 26, 2021 at 08:38PM
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Facebook, Bakkt, GE, Alphabet: What to Watch in the Stock Market Today - The Wall Street Journal
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