Wall Street stocks fell in morning trading after Russian President Vladimir Putin ordered the deployment of troops to contested regions of Ukraine. Here’s what we’re watching in Tuesday’s trading:
Chart of the Day
Write to James Willhite at james.willhite@wsj.com
...Wall Street stocks fell in morning trading after Russian President Vladimir Putin ordered the deployment of troops to contested regions of Ukraine. Here’s what we’re watching in Tuesday’s trading:
- Crude prices are up, hovering below $100 a barrel, and energy stocks are benefiting. Shares of Devon Energy, Exxon Mobil, Hess and Occidental Petroleum were all up. Oil-services companies Halliburton and Baker Hughes benefited as well, as did pipeline operator Williams Cos.
An Exxon Mobil gas station in Mountain View, Calif., Jan. 27, 2022.
Photo: David Paul Morris/Bloomberg News
- SoFi Technologies is buying banking-software maker Technisys for about $1.1 billion, the latest in a string of deals designed to transform the lender into a one-stop financial shop.
- Shares of Digital World Acquisition Corp. , the blank-check company that is merging with Donald Trump’s social-media venture, were up in early trading. The platform, Truth Social, has gone live in the U.S., but some would-be users reported being unable to create an account or received error messages when trying to do so. Others were prompted to join a wait list.
- Home Depot logged faster-than-expected sales growth in the three months through January and raised its dividend.
- Macy’s reported earnings that beat forecasts and also lifted its dividend.
- Major technology stocks were down, including Apple, Tesla, Microsoft, Alphabet and Meta Platforms.
- Carl Icahn has launched a proxy fight for two board seats at McDonald’s, as the activist investor pushes the fast-food chain to require its suppliers to change their treatment of pigs.
- Both Needham and Wells Fargo cut their price targets for DraftKings shares.
- Unisys reported revenue growth of 1.4% in 2021, but a net loss from continuing operations.
- Palo Alto Networks, Agilent Technologies, Virgin Galactic and Toll Brothers are among the companies reporting earnings after the close.
Chart of the Day
- Investors are wagering that the recent pain in the stock and bond markets will intensify. Short sellers are adding to their positions against the SPDR S&P 500 Exchange-Traded Fund Trust, which tracks the broad U.S. stock index, at the fastest rate in nearly a year.
Write to James Willhite at james.willhite@wsj.com
https://www.wsj.com/articles/dwac-virgin-galactic-exxon-mobil-draftkings-what-to-watch-when-the-stock-market-opens-today-11645531045
2022-02-22 14:40:00Z
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