Take-Two, Occidental Petroleum, Moderna: What to Watch When the Stock Market Opens Today

By Mischa Frankl-Duval 

Here's what we are watching as markets kick into gear Tuesday. -- U.S. stock futures edged higher as investors cautiously welcomed signs of progress in negotiations over an economic relief package in Washington.

Futures tied to the S&P 500 rose 0.7%, suggesting the benchmark index may open higher after falling for a fourth consecutive day on Monday. Futures for the technology-heavy Nasdaq-100 index ticked up 0.8%.

Read our full market wrap here.

What's Coming Up

-- Nordson, which makes dispensing equipment for adhesives, sealants and coatings, reports its quarterly earnings after markets close.

-- Data released at 9:15 a.m. ET are expected to show that U.S. industrial production rose in November on the back of strong demand for autos.

Market Movers to Watch

-- Take-Two Interactive Software rose 0.6% premarket, having earlier fallen as much as 2%. Rival videogame publisher Electronic Arts Inc. said Monday it reached a $1.25 billion deal to acquire Codemasters, which, had been evaluating an earlier offer from Take-Two.

-- Shares of Prevail Therapeutics Inc. rose 95% in premarket trading after Eli Lilly & Co. agreed to buy the company for up to $1.04 billion, or $26.50 a share, in cash. -- Occidental Petroleum ticked 1.9% higher before the bell, after falling more than 8% yesterday. Tesla is set to replace the oil major in the S&P 100 index.

-- Apartment Investment & Management tumbled more than 85% premarket. The company today said it had separated its businesses into two distinct, publicly traded companies, with some assets trading under the same ticker, AIV.

-- Shares of Moderna rose 1.7% premarket. The Food and Drug Administration said Tuesday that its Covid-19 vaccine is " highly effective," suggesting it could soon be added to the arsenal against the pandemic.

Market Fact

-- The best performing stock in the Stoxx Europe 600 index this year is Sinch AB, which links up businesses and consumers on smartphones. Its shares are up 332% as of Tuesday, handily besting the second-best performer in Europe, meal-kit delivery service HelloFresh SE, up a mere 214%.

Chart of the Day

Stock buyers have been scooping up shares of real-estate companies that are beaten down but stand to benefit from the economy's eventual reopening.

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(END) Dow Jones Newswires

December 15, 2020 09:14 ET (14:14 GMT)

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