Invesco, Lucid, Diamondback: What to Watch When the Stock Market
Futures tied to the S&P 500 were down 0.25% early Friday, pointing to a subdued end to a choppy week in markets. Here’s what we’re watching ahead of the market open.
- Invesco jumped over 6% in premarket trading after The Wall Street Journal reported that the investment giant is in talks to merge with State Street’s asset management business. State Street rose 0.5%.
- Soccer club Manchester United , which recently brought back star forward Cristiano Ronaldo, is scheduled to report earnings on Friday before markets open.
- Diamondback Energy climbed 4.4% after saying its board approved a plan to buy back as much as $2 billion of its shares.
- U.S.-listed shares of Chinese technology companies are edging up premarket after Hong Kong’s Hang Seng’s tech subindex jumped 3.5%. Online grocer Pinduoduo added 2%, e-commerce platform JD.com rose 2.2% and video sharing site Bilibili advanced 2.1%.
- Electric vehicle maker Lucid Group rose another 5.5% premarket after jumping over 6% on Thursday after the company received a rating from the U.S. Environmental Protection Agency that said one of its cars has a 520-mile range, the longest of any car rated by the EPA.
- U.S-listed shares of Spanish pharmaceutical company Grifols sank 3% after it said it reached an agreement to buy a majority stake in its German competitor Biotest for $1.3 billion.
- Computer accessories company Logitech slipped 3.5%, extending its decline into a fourth day. Shares have lost over 6% of their value this week.
Chart of the Day
- DoorDash, Uber Eats and Grubhub sued New York City over its move to enact permanent caps on the commissions delivery companies can charge restaurants. A loss for delivery companies could reshape their economics, says Heard on the Street’s Laura Forman.
Write to anna.hirtenstein@wsj.com
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