Pfizer, Gilead, Ross: What to Watch When the Stock Market Opens Today
November 20 2020 - 8:30AM
Dow Jones News
By Jem Bartholomew
Here's what we're watching as markets kick into gear Friday.
-- Stock futures wavered near the flatline, putting Wall Street
on track to end a choppy week with muted losses. Futures tied to
the S&P 500 edged down 0.1%, while Dow Jones Industrial Average
futures fell 0.2%. Read our full market wrap here.
-- What's coming up. A measure of European consumer confidence
is due at 10 a.m. ET, and the Baker Hughes rig count, a proxy for
drilling activity in the oil industry, is expected at 1 p.m.
-- IPOs to watch. Maravai LifeSciences Holdings and Sotera
Health are expected to begin trading Friday.
-- Pfizer said it plans to ask U.S. health regulators on Friday
to permit use of its Covid-19 vaccine, a milepost in months of
frantic efforts to find a medicine that could beat back a rampaging
pandemic. It could put the vaccine on track for distribution in
December if cleared quickly. The pharmaceutical company's shares
climbed 1.7% in offhours trading.
Market Movers to Watch
-- Gilead Sciences fell 1.2% before the bell after the World
Health Organization recommended against the use of antiviral drug
remdesivir for Covid-19.
-- Moderna, another company in the race for a coronavirus
vaccine, saw its shares climb premarket more than 3%.
-- Ross Stores gained 3.5% offhours after the retailer posted
third-quarter earnings that beat analysts' predictions.
-- Workday dropped 2.8% premarket after the cloud-software
company warned of lingering Covid-19 effects, despite reporting
profit and revenue that topped Wall Street's expectations.
-- Foot Locker advanced 2.6% premarket after the shoe retailer
posted quarterly earnings that beat analysts' expectations.
-- Occidental Petroleum jumped 2% before the market opened after
Susquehanna Community Financial said the oil company's share price
would rise to $18 a share. Occidental closed Thursday at
$13.36.
Must Reads Since You Went to Bed
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Social Causes?
Job Market Growth Slows Across U.S. as Covid-19 Cases Surge
Lumber Prices Rise Again, Defying the Normal Seasonal
Slowdown
Brexit: What You Need to Know About the U.K.'s Prospective Deal
With the EU
Suffering Emerging Markets Can Bounce Back From the Depths
(END) Dow Jones Newswires
November 20, 2020 08:15 ET (13:15 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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