Airbnb, Merck, High Tide, Square: What to Watch in the Stock Market Today

Wall Street stocks edged up after the opening bell, as investors weighed rising energy prices and lingering worries about China’s property sector. Here’s what we’re watching in morning trading:

  • Airbnb ABNB -1.00% shares ticked up after the stock was raised to outperform from market perform by Cowen.
  • Credit Suisse on Tuesday raised the price target for shares of MGM Resorts International MGM 0.58% to $68 per share from $33 a share.
  • Shares of CureVac CVAC 3.83% dropped after the German drug maker said its shot—once considered a promising Covid-19 vaccine candidate—would arrive too late to have a viable market. The company is shelving its most advanced Covid-19 vaccine and focusing on a new version.
  • NanoVibronix NAOV -0.83% shares were giving up some of Monday’s gains that came after the healthcare device company said results were positive from a study of its tennis elbow treatment.
  • Shares of cannabis company High Tide HITI -0.71% had been up premarket but pulled back after the opening bell. Its wholly-owned subsidiary Canna Cabana received approval to operate in British Columbia.
  • Shares of Merck MRK -0.59% edged down a day after it and partner Ridgeback Biotherapeutics said they have filed an application asking U.S. health regulators to authorize their Covid-19 pill, the next step toward adding a long-sought drug for use at home.

The Merck & Co. campus in Rahway, N.J., July 12, 2018.

Photo: brendan mcdermid/Reuters

  • Bionano Genomics BNGO 0.65% agreed to buy BioDiscovery, a provider of software for analysis, interpretation and reporting of genomics data, for up to $100 million in cash and equity.
  • Citrix Systems CTXS 1.22% shares slipped after William Blair cut the stock to market perform from outperform Tuesday.
  • Digital payments company Square SQ 2.60% was up, with no clear news though the stock was among the trending tickers on Stocktwits.
  • Fastenal FAST 3.13% shares inched up in early trading. The maker of fasteners and other industrial equipment posted a rise in sales and earnings for the third quarter, though it noted that supply-chain and other input costs have risen.
  • Westwater Resources shares climbed as the battery-grade graphite company approved Phase 1 construction of the Coosa Graphite Project in Alabama.
  • Earnings from Pinnacle Financial Partners and Smart Global Holdings are due after markets close.
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Write to Caitlin Ostroff at caitlin.ostroff@wsj.com

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