DoorDash, GameStop, Pfizer: What to Watch When the Stock Market Opens Today

By Mischa Frankl-Duval 

Here's what we are watching as markets kick into gear Wednesday.

-- U.S. stock futures edged higher, suggesting the major indexes may grind toward new all-time highs after the opening bell as investors bet on fresh fiscal stimulus spending.

Futures tied to the S&P 500 ticked up 0.2%, a day after the benchmark notched its 30th record close of 2020. Nasdaq-100 futures were down 0.1%, indicating technology stocks may be subdued after the New York opening bell. Read our full market wrap here.

What's Coming Up

-- DoorDash shares will begin trading today after the food-delivery company priced its IPO at $102 apiece. That equates to a valuation of $39 billion. DoorDash was privately valued at more than $15 billion earlier this year.

-- Shares in software company C3.ai are also expected to start trading today. The company priced shares at $42 apiece, above their expected range. Advertising-software company PubMatic is also set to float.

-- Job openings and wholesale inventories data are due at 10 a.m.

-- Adobe will give results for its most recent quarter after the market closes.

Market Movers to Watch

-- GameStop shares fell 15% in off-hours trade after the company released sales figures that missed analysts' expectations.

-- Insurance software company Guidewire dipped 3.4% off-hours after its quarterly results disappointed investors.

-- United Airlines rose 1.6% in premarket trade. Boeing yesterday delivered a 737 MAX aircraft to the carrier, which became the first to receive a newly produced model of the jet after U.S. regulators ended a nearly two-year grounding last month.

-- Shares in Pfizer rose 1.4% premarket. The Food and Drug Administration yesterday said a Covid-19 vaccine the company developed with BioNTech "met the prescribed success criteria" in a clinical study, paving the way for the agency to green-light distribution as early as this weekend.

-- Regenerative-medicine company Pluristem Therapeutics tumbled more than 41% off-hours after the results of an interim analysis of one of its treatments disappointed investors.

-- Shares in MTS Systems, a maker of test systems and industrial sensors, rose almost 50% premarket on news that the Amphenol, which makes electrical communications components, would buy the company.

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(END) Dow Jones Newswires

December 09, 2020 09:21 ET (14:21 GMT)

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