To the moon! Well, not quite, but into space at least today for
the billionaire baron of ecommerce. Also not going to the moon is
stock, though it is 0.4% up premarket on Tuesday morning.
- One reason for Mr. Bezos’s rocket ride is the more earthly goal of winning government contracts for the kind of less thrilling scientific projects the provide reliable revenue. His Blue Origin company is playing catch-up with Elon Musk’s SpaceX.
- Mr. Musk’s electric vehicle maker
is getting a bit of a boost Tuesday morning ahead of the open, rising 1% premarket. It is also gaining more attention on the message boards among day traders, according to Topstonks.com. The company reports earnings next Monday and tends to see its stock rise in the days ahead as investors start hoping for exciting announcements.
- In the wider markets, U.S. stock futures are trending higher ahead of the open following Monday’s broad selloff. S&P 500 futures are up 0.5%, while Dow futures are up 0.6%. Nasdaq-100 futures are up 0.4%
- Nasdaq the company, not the index, is itself rising premarket, up 1%, after The Wall Street Journal’s exclusive that it will spin out its Private Market for shares in start-ups that trade among some investors before an initial public offering. The business will go into a standalone joint venture company and get investment from three Wall Street banks and SVB Financial Group, a tech specialist bank.
is up 0.8% on large volumes following a 15% rise Monday. The shares are up nearly 80% over the past year, putting the chip maker into the top 10 list of U.S. public companies. It also executed its four-for-one stock split overnight, which has given some investors more ways to trade the stock-performance.
International Business Machines
is up 3.4% ahead of the open on Tuesday after turning in decent second-quarter numbers Monday after the close. The computing group’s efforts to refocus on cloud-based computing and spin off its old-fashioned IT services business is winning fans among investors. At the same time, it has benefitted from companies beginning to invest again as the economy reopens.
Advanced Micro Devices
is rising up the chat charts on social media platforms, according to Topstonks.com, gaining popularity among retail traders. Its shares are up 0.7% premarket on good volumes following a 0.8% rise Monday.
- Growing chatter and chunky volumes Tuesday morning for another perennial retail favourite:
The cinema chain’s shares have taken a bit of a beating so far this month, but they are 1% higher premarket Tuesday.
Zoom Video Communications
is bouncing slightly Tuesday morning, up 0.8% in premarket trading after a 2.2% drop on Monday when it revealed it would buy customer service software firm
The target’s shares jumped nearly 6% Monday, are 0.5% higher premarket.
- Shares in big U.S. investments banks, which all took a knock Monday with the drop in financial markets, look set to rebound a bit Tuesday:
are both up about 0.5%, while and
up about 1.1% in premarket trading.
- Bitcoin dropped below $30,000 Tuesday for the first time in a month.
Chipotle Mexican Grill
are due to report earnings after Tuesday’s close.
Chart of the Day
- Stocks, commodities and other financial markets took a stumble Monday on growing concerns about the strength of the post-Covid-19 global recovery.
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