- Moderna shares rose 1.9% in premarket trading. The U.S. Food and Drug Administration is nearing a decision to authorize Covid-19 booster shots for certain people with weak immune systems, The Wall Street Journal reported. Moderna’s vaccine is one of three shots authorized for use in the U.S.
- Palantir Technologies , due to report earnings before the market opens, rose 2.7%.
- Upstart manufacturer Lordstown Motors posted a $108 million loss for the second quarter, revised its financial outlook and said it was talking to strategic partners. Its shares added 5.6% premarket.
- U.S.-listed shares of Coupang dropped 6%. The South Korea-based e-commerce company reported a widening loss in the second quarter, in part because of a fire at one of its warehouses.
- Clover Health Investments leaped 15% ahead of the bell. The provider of health insurance services and occasional meme stock reported a loss of $318 million in the second quarter.
- Opendoor Technologies gained 18% premarket. The online real-estate platform also reported earnings after Wednesday’s close.
- EBay shares slipped 1%. The online marketplace reported a decline in active buyers in the latest quarter, in another sign of softening e-commerce trends. Crafts marketplace Etsy was also down, by 1.1%, ahead of the bell.
- Seagate Technology ticked up 1.1% after analysts at Goldman Sachs bumped up their target price for the stock.
- Unity Software slipped 2.5% premarket. Shares of the company, which provides tools and services for videogame publishers, had jumped in response to a big rise in revenue reported on Tuesday.
- CVS Health gained 1.1%. The health company said late Wednesday it would borrow $1 billion, due in 2031, by selling senior notes with a 2.125% coupon.
- Micron Technology fell 2.2%. Morgan Stanley analysts lowered their recommendation for the semiconductor stock from “overweight” to “equal weight”.
- U.S.-listed shares of Dutch semiconductor manufacturer NXP Semiconductors fell 1.6%. “We expect supply to be a challenge for the foreseeable future,” Chief Executive Kurt Sievers told analysts in early August.
- Universal Health Services lost 0.9%. On Wednesday, the company said it would borrow a total of $1.2 billion, due in 2026 and 2032, to refinance existing debt.
Chart of the Day
- Securities regulators are rethinking rules on popular plans that let corporate executives sell stock without violating insider-trading provisions.
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