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Home Markets Intel, Gilead, Uber, Mattel: What to Watch When the Stock Market Opens...

Intel, Gilead, Uber, Mattel: What to Watch When the Stock Market Opens Today

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Here’s what we are watching as markets kick into gear Friday.

Stock futures are wavering, putting the S&P 500 on track to snap a three-week winning streak. Money managers say stocks are likely to lack clear direction in the coming weeks as they avoid placing big bets ahead of the Nov. 3 election. Read our full market wrap here.

What’s coming up. Investors may get fresh insights into the pace of recovery in the manufacturing and services sectors from surveys of purchasing managers, due to be released at 9:45 a.m. ET. The data is likely to show that the economy is continuing to grow, albeit at a slower pace.

Mattel shares jump after Barbie emerges as one of the pandemic's biggest winners, with the doll line's quarterly sales climbing by the most in at least 20 years.

Mattel shares jump after Barbie emerges as one of the pandemic’s biggest winners, with the doll line’s quarterly sales climbing by the most in at least 20 years.

Photo: Richard Drew/Associated Press

Market Movers To Watch

Intel
plunged 9.6% in offhours trading after third-quarter earnings were hit by consumers gravitating to cheaper laptops and data-center sales softening. The results pointed to the work-from-home boost fading for the chip giant.

Gilead Sciences
jumped 4.1% before the opening bell. The Food and Drug Administration granted full approval for remdesivir, making it the first Covid-19 treatment deemed safe and effective by the regulator.

Uber Technologies
slid 1.5% premarket. The ride-hailing company and
Lyft
must comply with an order that requires them to reclassify their drivers as employees, a California appeals court said. The ruling threatens to upend the companies’ business models.
Lyft
edged down 1.5% in offhours trading.

Mattel
rose over 8% ahead of the opening bell after Barbie emerged as one of the pandemic’s biggest winners. The flagship doll posted a 29% sales increase in the third quarter, the largest quarterly increase for Barbie going back at least two decades.

American Express
dropped 3% premarket after its third-quarter profit didn’t meet Wall Street’s expectations.

Seagate Technology
dropped 3.5% after the disk-drive maker’s revenue fell more than Wall Street had expected.

Capital One Financial
rose 4.5% premarket after third-quarter profit and sales beat analysts’ expectations.

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A Global Asset Management Seoul Korea Magazine

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