| What to watch today: Nasdaq set to rebound from 2.8% drop as bond yields moderate | | |  | WED, SEP 29, 2021 | | | | AS OF WED, SEP 29, 2021 • 08:16 ET | | Dow Jones Fut | | 34,299.99 | | Current: | 34,324.00 | | Change: | 149.00 | | Impl. Open: | 162.01 | | | S&P 500 Fut | | 4,352.63 | | Current: | 4,367.00 | | Change: | 23.50 | | Impl. Open: | 25.07 | | | NASDAQ 100 Fut | | 14,770.30 | | Current: | 14,865.75 | | Change: | 101.00 | | Impl. Open: | 107.95 | | | Russell 2000 Mini | | 2,229.78 | | Current: | 2,241.80 | | Change: | 15.80 | | Impl. Open: | 16.72 | | | United Airlines (UAL) said 593 employees are facing termination for failing to comply with the carrier's Covid vaccination policy, one of the strictest mandates from a U.S. company. More than 96% of United's 67,000-person U.S. workforce complied. The deadline to show proof of vaccination was late Monday. Roughly 2,000 United employees sought exemptions from the mandate for religious or medical reasons. Employees granted exemptions were placed on temporary unpaid leave. (CNBC) | | | | Lucid (LCID) has started production of its first electric vehicles for customers, with deliveries scheduled to begin late next month. The milestone is crucial for the EV start-up, which debuted on the Nasdaq in July through a SPAC merger. It's viewed as a front-runner to rival Tesla (TSLA). The top-end Lucid Air Dream Edition will be available in late October, followed by less expensive models. Lucid said it has received more than 13,000 reservations. (CNBC) | | | | Tesla CEO Elon Musk said the U.S. government should steer clear of trying to regulate cryptocurrencies. "It is not possible to, I think, destroy crypto, but it is possible for governments to slow down its advancement," Musk said Tuesday at the Code Conference. Musk has frequently tweets support for digital coins on. Tesla said earlier this year that it bought bitcoin to "maximize returns on our cash." (CNBC) | | Micron Technology (MU) reported adjusted quarterly earnings of $2.42 per share, 9 cents above estimates, with the chip maker's revenue also topping Street forecasts. However, its current-quarter forecast fell below consensus, due to computer-making customers facing shortages of other parts, and the stock fell 3.6% in the premarket. | | | | Eli Lilly (LLY) gained 2.2% in premarket trading after Citi upgraded it to "buy" from "neutral." Citi points to valuation following a more than 15% drop in the share price, as well as its above-Street consensus earnings outlook for Lilly following a recent meeting with management. | | | | Netflix (NFLX) rose 1% in the premarket after announcing that it bought videogame maker Night School Studio in a move to diversify its revenue sources. Night School Studio is best known for the supernatural-themed video game "Oxenfree." | | | | Dollar Tree (DLTR) jumped 3.7% in the premarket after the discount retailer increased its share repurchase authorization by $1.05 billion to a total of $2.5 billion. | | | | ASML (ASML) raised its annual sales outlook and the maker of semiconductor manufacturing equipment said it would see 11% annual growth through 2030 as demand for its products booms. The stock added 1% in the premarket. | | | | AbbVie (ABBV) won FDA approval for its once-daily oral migraine treatment. The drug known as Qulipta was one of the treatments acquired in AbbVie's $63 billion purchase of Allergan last year. | | | | Sherwin-Williams (SHW) cut its third-quarter guidance with the paint maker pointing to raw-material shortages and higher input costs. It said it no longer expects to see improved supply or lower prices for raw materials during the fourth quarter as it had previously projected. Sherwin-Williams fell 2% in premarket action. | | | | Affirm Holdings (AFRM) said it will offer a debit card as well as allow customers to execute cryptocurrency transactions directly from savings accounts. Affirm shares jumped 3.6% in the premarket. | | | | Cal-Maine Foods (CALM) rallied 4.4% in premarket trading after it reported a smaller-than-expected loss for its latest quarter. The egg producer's revenue topped Street forecasts as it benefited from higher egg prices. | | | | Warby Parker (WRBY) on Wall Street today, going public via a direct listing at a reference price of $40 per share. That gives the eyewear maker an initial valuation of nearly $5 billion. | | Wednesday is National Coffee Day, a made up holiday when coffee shops, restaurants, convenience stores and coffee brands are dishing up deals. You can get free coffee at Starbucks (SBUX), Dunkin', Panera, and Krispy Kreme (DNUT). Starbucks is celebrating its 50th anniversary Wednesday. (USA Today) | | |
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