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.
- 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.
Chart of the Day
- The sunshine and breezes that make Brazil’s beaches a tourist destination have also drawn a large share of the world’s investment in solar and wind power to the country in recent years.
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