American Outdoor Brands, Tilray: What to Watch When the Stock Market Opens Today
By Caitlin Ostroff
Here's what we are watching as markets kick off Wednesday.
-- U.S. stock futures ticked higher as investors awaited
progress on stimulus talks, fresh guidance from the Federal Reserve
and key economic data.
Futures tied to the S&P 500 ticked 0.2% higher, signalling
that the broad market gauge may climb for a second day after the
New York opening bell. Nasdaq-100 futures rose 0.2%.
Fresh retail sales figures showed U.S. consumers have pulled
back on purchases and limited holiday shopping in recent weeks as
the coronavirus pandemic triggered new business restrictions,
potentially snapping a six-month stretch of growth.
Read our full market wrap here.
What's Coming Up
-- Surveys of purchasing managers, which will be released
starting at 9:45 a.m., are likely to point to a continued expansion
in the U.S., albeit at a slower pace than in recent months.
-- The Federal Reserve will issue its latest policy statement
and economic projections at about 2 p.m.
Market Movers to Watch
-- American Outdoor Brands Inc. climbed more than 11% premarket
after the provider of hunting equipment swung to a profit for its
latest quarter as sales increased with more people, according to
the company, looking to spend time on outdoors activities.
-- Shares in Tilray Inc. rose almost 30% in premarket trading
after Bloomberg reported that it and fellow Canadian cannabis
company Aphria Inc. are in advanced talks to merge. If the two
merge, the combined company could be largest marijuana producer in
Canada. Aphria's shares gained 7.3%.
-- Good Times Restaurants shares gained more than 8.7% premarket
after fourth-quarter financial results showed the company swinging
to a profit from the year-ago period.
-- Brinker International Inc. shares fell 5% in premarket
trading after the restaurant operator said it was withdrawing its
fiscal second-quarter guidance after a surge in Covid-19 cases
drove dining room closures. The company's chains include Chili's
Grill & Bar and Maggiano's Little Italy.
-- Shares in Southwest Airlines Co. declined 0.7% premarket
after the airline said trip cancellations are rising and leisure
bookings are softening for December.
-- The Euro Stoxx Banks index is down more than 20% this year,
compared with a 6% fall in the Euro Stoxx 50 blue-chip index. The
European Central Bank said Tuesday that lenders can restart limited
dividend payments next year following a nine-month ban.
Chart of the Day
BP has bought a controlling stake in the largest U.S. producer
of carbon offsets, doubling down on a bet that preserving forests
will be key to companies meeting their carbon-reduction goals.
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(END) Dow Jones Newswires
December 16, 2020 08:57 ET (13:57 GMT)
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