Thursday’s Pre-Market: Here’s What You Need to Know Before the Market Opens

U.S. stock futures were trending lower on Thursday as there seems to be no immediate end to the Russia-Ukraine conflict, despite diplomatic negotiations between the countries temporarily offering some reprieve on Wednesday.

Dow Futures (DJIA) were down 0.77%, S&P futures (SPX) were down 0.60%, and Nasdaq Futures (NDX) were down 0.82% at the time of writing.

Upcoming Earnings

AcuityAds Holdings, Inc. (ATY), AiHuiShou International Co. Ltd. (RERE), and Autolus Therapeutics Plc (AUTL) are set to report their quarterly results before the bell. 360 Finance, Inc. (QFIN), AcelRx Pharmaceuticals (ACRX), and Acreage Holdings (ACRDF) will report after the market close.

Market News

Twitter, Inc. (TWTR) has announced a pilot of its “Shops” feature, allowing firms to showcase up to 50 products on their profiles. The pilot expands on Twitter’s existing test feature allowing firms to display a maximum of five products.

Laboratory Corporation of America Holdings (LH) has entered a strategic partnership with a South Carolina non-profit health group Prisma Health. Details of the deal expected to close in H2 2022 have not been made public. The partnership will expand Labcorp’s capabilities in Carolina while giving Prisma Health access to Labcorp’s extensive lab testing capabilities.

Amazon (AMZN) is set to receive approval from the E.U. antitrust authority to acquire MGM Studios. Sources familiar with the matter claim that the European Commission will give a verdict on the deal on March 15, 2022. The deal is also under review by the U.S. Federal Trade Commission.

Tesla (TSLA) has increased the price of some of its electric vehicle models by as much as $1,600 in China and the U.S. The price increases apply to the Long Range models of the Model Y SUV and Model 3 Sedan. The hikes come amid a rise in the raw material costs due to the Russia-Ukraine conflict.

Amazon.com, Inc. (AMZN) has joined other tech firms, including Apple Inc. (AAPL) and Alphabet Inc. (GOOGL), in making its shares more accessible to investors via a stock split. The company’s board has approved a 20-for-1 stock split, subject to shareholder approval.

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