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It’s time now for today’s trending tickers and it we’ve need to look at some of the stocks before Wall Street opens
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and it’s not just crypto that’s dominating, but we do start with a crypto one.
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First up, Coinbase, the crypto exchange is under pressure again after Bitcoin slid below $19,000 overnight,
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wiping out its gains for the year and extending a nearly 30% drop from its October peak.
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Now, Coinbase’s shares closed over 7% lower on Monday and they’re edging lower again in the pre-market.
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The stock stock’s fate is clearly tied to whatever happens next in crypto.
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Next, the buy now pay later giant Klarna is posting its first earnings report since its September IPO on the New York Stock Exchange.
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The shares closed up around 1.8% before giving back a little in after hours trading.
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The stock is down nearly 24% since its debut on Wall Street, and today our analysts are looking for double digit revenue growth.
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but still expect a net loss as Klarna invests heavily in expansion.
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With regulators watching closely the buy now pay later space, today’s numbers will be a key test for the Swedish lender.
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Now, if you’re a sports buff, you know Arc’teryx, Salomon or the tennis gear from Wilson.
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Well, the owner of all those brands, Amer Sports, just beat earnings predictions this morning, continuing its strong growth on almost all fronts, revenue, margin, earnings per share.
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And investors are loving it. The stock is up more than 8% on that impressive beat, helped by direct to consumer sales and upmarket positioning in the premium segment.
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Now, a quick word on another stock that’s soaring.
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Ax Axlat Axalta. There’s a big deal in the paint and coatings world.
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Axalta and Dutch rival Akzo Nobel are combining in an all-stock merger of equals,
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worth more than $9 billion. But what we are seeing is a tale of two stocks.
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Akzo is down and Axalta is up more than 7% as you can see.
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This deal creates a global giant in in automotive and industrial coatings.
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And finally, Lockheed Martin is in focus today after President Trump said he will approve the sale of its F-35 fighter jets to Saudi Arabia.
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Now, Lockheed shares closed around $471 last night, up just over 1% on the day, but no big moves this morning, at least for now.