Dow futures flat after 30-stock average dropped sharply


BY THE NUMBERS

IN THE NEWS TODAY

Democratic California Gov. Gavin Newsom survived a Republican try to take away him from workplace, according to an NBC News projection. The gubernatorial recall vote was the second in California’s historical past to qualify for the poll. Newsom, who was elected by an awesome margin to a four-year time period ending in 2023, spent months warding off the GOP-led effort. (CNBC)

President Joe Biden plans to meet with main U.S. employers Wednesday on the White House to debate the federal vaccine mandate. The gathering comes because the Biden administration is drafting guidelines to require massive employers to have their staff vaccinated or examined weekly. In steerage to federal companies earlier this week, the White House stated federal staff have to be “fully vaccinated” no later than Nov. 22. (Reuters)

Regeneron Pharmaceuticals (REGN) announced that the U.S. authorities would purchase a further 1.4 million doses of Regeneron’s Covid-19 antibody cocktail. That will convey the overall variety of doses bought by the federal government to almost 3 million. Regeneron rose 1.8% in premarket buying and selling. (Reuters)

Yum China (YUMC) warned that the unfold of the delta variant would end in a 50% to 60% hit to its third-quarter revenue. The restaurant operator stated it needed to shut or restrict service at greater than 500 eating places in August because of the delta variant outbreak in China. Yum China shares tumbled 4.8% within the premarket. (Reuters)

Four newbie house vacationers, led and paid for by e-commerce billionaire Jared Isaacman, was set for liftoff Wednesday evening overseas a rocket ship from Elon Musk’s SpaceX. They would change into the primary all-civilian crew launched into Earth’s orbit. Earlier this summer time, Virgin Galactic‘s Richard Branson and Blue Origin’s Jeff Bezos went into house. Musk has not gone into house but. (Reuters)

Walmart (WMT) is increasing its self-driving vehicle program to incorporate Ford (F) and Argo AI, an autonomous automotive start-up backed by the automaker. The firms stated Wednesday the collaboration will use Ford Escape hybrids with Argo AI know-how for Walmart deliveries in Miami, Washington, D.C., and Austin, Texas. (CNBC)

The Treasury Department has decided that the nation’s child-care system is “unworkable,” saying it is affected by market failures that put high quality care out of attain for a lot of households. In a report back to be launched Wednesday, Treasury particulars the wrestle many mother and father face to afford baby care, particularly as payments pile up earlier than their peak incomes years. (CNBC)

* House Democrats vow ‘meaningful’ relief for SALT deduction cap (CNBC)

STOCKS TO WATCH

Weber (WEBR) jumped 3.8% within the premarket, following its first quarterly report since going public in August. The grill maker gross sales rose 19% from a 12 months earlier, and the corporate projected full-year gross sales largely above present Wall Street forecasts.

Canadian National Railway (CNI) is not going to enhance its supply to purchase Kansas City Southern (KSU), in keeping with individuals accustomed to the state of affairs who spoke to CNBC’s David Faber. That would clear the way in which for Canadian Pacific Railway (CP) to purchase Kansas City Southern.

Citrix Systems (CTXS) is working with advisers to contemplate a attainable sale of the corporate, in keeping with individuals accustomed to the matter who spoke to Bloomberg. The maker of office software program will gauge potential curiosity within the firm over the following few weeks and will resolve to stay impartial. Citrix rallied 4.4% within the premarket.

Crocs (CROX) added 1% in premarket buying and selling following Tuesday’s 8.5% achieve. That got here after the shoe maker’s Investor Day the place it projected better-than-expected full-year income and introduced an accelerated share repurchase program.

Skillsoft (SKIL), a supplier of company digital studying packages, jumped 4.5% within the premarket after reporting better-than-expected income and bookings for its newest quarter in addition to elevating its full-year steerage.

European supply large Just Eat Takeaway (GRUB) slid 3.2% in premarket buying and selling after Amazon (AMZN) and Deliveroo introduced a partnership that can supply free meals supply within the U.Ok. to Amazon Prime members. Just Eat Takeaway closed its buy of U.S.-based GrubHub in June.

Sage Therapeutics (SAGE) rallied 5.7% within the premarket after the FDA granted fast-track standing to the corporate’s experimental therapy for Huntington’s illness. Sage expects to start out a part 2 trial for the therapy earlier than the top of 2021.

SoFi Technologies (SOFI) added 2.8% in premarket motion after Mizuho started protection with a “buy” score and a $28 worth goal in contrast with Tuesday’s shut of $14.50. Mizuho stated SoFi is turning into a “full-fledged, super-app neo-bank” with next-generation capabilities.

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