| What to watch today: Wall Street looks to pad this week's gains | | |  | FRI, SEP 18, 2020 | | | | AS OF FRI, SEP 18, 2020 • 08:30 ET | | Dow Jones Fut | | 27,901.98 | | Current: | 27,779.00 | | Change: | -40.00 | | Impl. Open: | -8.98 | | | S&P 500 Fut | | 3,357.01 | | Current: | 3,352.75 | | Change: | 1.75 | | Impl. Open: | 5.84 | | | NASDAQ 100 Fut | | 11,080.95 | | Current: | 11,120.25 | | Change: | 45.00 | | Impl. Open: | 49.30 | | | Russell 2000 Mini | | 1,542.60 | | Current: | 1,536.80 | | Change: | -.90 | | Impl. Open: | 3.50 | | The big week for initial public offerings brings Unity to Wall Street on Friday. The video game software developer on Thursday evening priced shares at $52 after lifting the anticipated range Wednesday to $44 to $48 per share. Unity wraps up one of the busiest weeks for IPOs this year, highlighted by Wednesday's debut of Snowflake, which more than doubled in value to close the day with a market cap over $70 billion. Snowflake, which gave back about 10% on Thursday, was under some pressure in Friday's premarket. (CNBC)
* Amwell co-CEO: Telehealth transformation will still take years despite pandemic boom (CNBC) | | Shares of Oracle fell 1.5% in the premarket after the Commerce Department announced Friday morning that it would ban U.S. business transactions with China-owned social apps WeChat and TikTok, starting Sunday. President Donald Trump is expected to announce Friday whether or not the government will approve a deal for Oracle to take a minority stake in TikTok and become a "trusted technology partner" for the company in the U.S. Walmart was also aiming to take a stake. (CNBC) | | | | Shares of Dave & Buster's Entertainment (PLAY) rebounded from steep losses in Friday's premarket trading. The restaurant and arcade chain on Thursday closed down 26% after The Wall Street Journal reported the company warned of bankruptcy if an agreement can't be reached with lenders. | | | | United Parcel Service (UPS) is offering buyouts to some employees as new UPS Chief Executive Carol Tome aims to curb costs. The Wall Street Journal reported that workers would leave in two phases; by the end of 2020 and mid-2021. UPS said last week it would hire more than 100,000 workers for the winter holiday season. | | | | Oppenheimer downgraded both Home Depot (HD) and Lowe's (LOW) to "perform" from "outperform," and lowered price targets on both stocks. Oppenheimer said that in the near term, "we're increasingly concerned that the market is becoming too lax toward chances of a post-Covid-19 sales growth downshift at HD/LOW and potential impact on shares." | | | | Ambarella (AMBA) shares rose more than 1% in the premarket after a Berenberg analyst initiated the semiconductor design company with a "buy" rating and a price target of $67 per share. That price target implies a 28.4% upside over the next 12 months. | | | | J.P. Morgan downgraded Beyond Meat (BYND) to "underweight" from "neutral," sending the stock down more than 4%. "The stock is ahead of itself and we view Street estimates as too high, thanks to chief rival Impossible Foods taking share at grocery and restaurants hesitating to add menu complexity during the Covid-19 crisis," J.P. Morgan said. | | | | Tesla (TSLA) shares were up 4% in the premarket after an analyst at Piper Sandler hiked his price target on the electric car maker to $515 per share from $480 per share. The new target implies a 21.6% upside from Thursday's close of $423.43 per share. | |  | | |
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