- GameStop GME -2.34% fell 4.5% premarket after the videogame retailer turned day-trading sensation reported a wider loss for last quarter as it continued efforts to revitalize its business under an overhauled executive team and board of directors.
- CVS Health CVS 0.18% said it plans to raise its dividend and buy back stock for the first time since 2017. Shares rose 2.7% premarket.
- Southwest Airlines LUV 0.13% fell 1.9% after analysts at Jefferies cut their target price for the stock. Other travel-related stocks including Wynn Resorts WYNN 2.00% also came under pressure, suggesting investor unease over coronavirus.
- Novavax NVAX -0.60% rose 4.4%. The head of the European Medicines Agency said this week the company’s Covid-19 vaccine could soon gain approval, Reuters reported. Vaccine stocks have been volatile since the identification of the Omicron variant.
- Digital World Acquisition, DWAC 28.10% the blank-check company that is merging with Donald Trump’s media venture, fell more than 3% premarket. Earlier this week the company, known by its ticker symbol DWAC, said in a regulatory filing the SEC was investigating the merger.
- Rent the Runway RENT -10.23% reported high costs, mostly related to its initial public offering in October. Shares of the subscription fashion service sank 10%.
- RH RH 0.11% shares rose 10% after the luxury home retailer reported better-than-expected results for the third quarter and lifted the low end of its revenue outlook.
- Roku ROKU 18.23% shares were steady premarket. They jumped 18% Wednesday after the streaming device maker signed an agreement with Alphabet that restores the YouTube TV app to its service.
- UiPath PATH 1.55% fell 1.4% before the bell. Analysts at KeyBanc cut their target share price after the software company reported earnings.
- Allstate ALL -1.11% fell 1.9% after analysts at Wells Fargo cut their recommendation for the insurance stock from equal-weight to underweight.
- Lululemon, LULU -2.06% Vail Resorts, MTN 1.69% Broadcom AVGO -0.31% and American Outdoor Brands are among the companies reporting earnings Thursday.
Chart of the Day
- Death-benefit payments rose 15.4% in 2020 to $90.43 billion, mostly due to the pandemic, according to the American Council of Life Insurers. It is the sharpest rise since the 1918 influenza epidemic.
Write to Joe Wallace at email@example.com
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