Stock futures traded higher Monday as Wall Street comes off a losing week and turns its attention to U.S. inflation and how the data will influence the Federal Reserve’s path on interest rates.
These stocks were poised to make moves Monday:
Warren Buffett’s
Berkshire Hathaway
(BRK.A, BRK.B) reported second-quarter after-tax operating earnings of $10 billion, a quarterly record, up from $9.4 billion a year earlier on strength in insurance underwriting and higher investment income. Net income was $35.9 billion, swinging from a year-earlier loss of $43.6 billion. Stock repurchases in the second quarter were $1.4 billion, compared with $4.4 billion in the first quarter and $1 billion a year earlier.
Berkshire Hathaway
‘s class B shares rose 1.2% in premarket trading to $354.19.
Shares of
Yellow
(YELL) were falling 28% to $2.56 after the trucking company filed for bankruptcy and said it would be closing the business. The stock soared more than 400% last week even as Yellow—one of the country’s largest and oldest trucking companies— was expected to file for bankruptcy.
Lucid
(LCID) reduced prices on most of its lineup of Air luxury sedans, and shares of the electric-vehicle maker were rising 0.3% in premarket trading.
Lucid
is scheduled to report earnings after the closing bell Monday.
Others earnings reports are scheduled Monday from
Palantir Technologies
(PLTR),
BioNTech
(BNTX),
Tyson Foods
(TSN),
Skyworks Solutions
(SWKS),
RingCentral
(RNG), and
Paramount Global
(PARA).
Reports are expected later in the week from
Eli Lilly
(LLY),
United Parcel Service
(UPS),
Datadog
(DDOG),
Walt Disney
(DIS),
AMC Entertainment
(AMC),
Roblox
(RBLX),
Take-Two Interactive
(TTWO),
Wynn Resorts
(WYNN), and
Alibaba
(BABA).
Wayfair
(W) was rising 2.8% in premarket trading to $85.45 after shares of the online home-furnishings retailer were upgraded to Buy from Neutral at
UBS
and the price target was raised to $110 from $72.
Write to Joe Woelfel at [email protected]
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