U.S. stock futures are ticking lower after indexes posted gains for a second straight week; U.S.-listed shares of Novo Nordisk (NVO) are rising in premarket trading after its weight-loss drug Wegovy was approved to also treat liver disease; shares of Dayforce (DAY) are soaring on a report Thoma Bravo is in talks to acquire the HR software firm; Winklevoss twins-owned Gemini becomes the latest crypto firm to file for an IPO; and meme stock Opendoor (OPEN) continues to climb. Here's what investors need to know today.
1. US Stock Futures Edge Lower
U.S. stock futures are ticking lower after indexes finished higher for a second straight week. Investors are looking ahead this week to key remarks from Fed Chair Jerome Powell and a string of retailer earnings reports. Dow Jones Industrial Average futures are 0.1% lower after the blue-chip index closed the prior week just 68 points away from a new record high. S&P 500 and Nasdaq futures also are edging lower after those indexes ended a positive week on a down note Friday. The 10-year Treasury note yield is lower. Oil and gold futures are higher. Bitcoin (BTCUSD) is down more than 2% at around $115,000.
2. Novo Nordisk's Wegovy Approved for Treatment of MASH Liver Disease
Novo Nordisk (NVO) won approval from the U.S. Food and Drug Administration (FDA) for its Wegovy weight-loss drug to be used for treatment of noncirrhotic metabolic dysfunction-associated steatohepatitis (MASH) liver disease. MASH affects one in three people who are overweight or obese, Novo Nordisk said, including 22 million Americans. U.S.-listed shares of Novo Nordisk, which plunged late last month when the company cut its outlook and announced a new CEO, are 4% higher in premarket trading.
3. Dayforce Stock Soars on Report HR Software Firm May Be Acquired
Shares of Dayforce (DAY) are surging more than 25% after a report that private equity firm Thoma Bravo is in talks to acquire the human resource software firm. Bloomberg said a deal to take the Minneapolis-based company private “could be announced as soon as the coming weeks.” Shares of Dayforce entered Monday down 27% this year.
4. Winklevoss Twins' Crypto Platform Gemini Files for IPO
Cryptocurrency exchange Gemini Space Station, which is owned by Cameron and Tyler Winklevoss, has filed for an initial public offering (IPO). The platform features trading in 150 cryptocurrencies, including its own Gemini dollar (GUSD) stablecoin. It intends to list on the Nasdaq Global Select Market under the ticker “GEMI.” It's the latest in a string of IPOs for cryptocurrency firms, with stablecoin provider Circle Internet Group (CRCL) and crypto exchange Bullish (BLSH) having had successful debuts.
5. Opendoor Rises Further as Investors Buy Into Meme Stock
Meme stock Opendoor Technologies (OPEN) shares are up 3% in premarket trading, extending their recent run. The online home-buying company's stock rose more than 4% Friday following news that its CEO and chair would step down. Recent enthusiasm for the stock has been driven by meme-stock traders and encouraged by a highly bullish money manager, helping drive action as traders to dip into riskier corners of the market.
