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Roblox, BlackBerry, Pfizer, Adagio Therapeutics: What to Watch in the Stock Market Today
Wall Street stocks are in a holding pattern ahead of a policy decision from the Federal Reserve. Here’s what we’re watching in Wednesday’s trading:
- Roblox shares dropped after the gaming platform reported its November user metrics.
- Preliminary laboratory tests gave encouraging signs that the Pfizer ’s experimental Covid-19 pill for the newly infected could work against Omicron, the company said.
- Eli Lilly raised its 2021 financial guidance and set its outlook for its performance in 2022.
- Manufacturer Entegris plans to acquire CMC Materials in a cash-and-stock deal with an enterprise value of about $6.5 billion
- Goldman Sachs lifted its rating for the Host Hotels & Resorts shares to neutral and nudged up the price target to $18 from $17.
- Home improvement and building product maker Masco was also the beneficiary of a ratings upgrade, from Barclays , who lifted the price target to $83 from $67.
- Regeneron Pharmaceuticals wasn’t so lucky, with its shares down after Bernstein cut its rating of the stock to market perform. Adagio Therapeutics also got a ratings cut, from Stifel, who slashed the price target to $9 from $50.
- Some meme stocks were drifting lower in early trading, including AMC Entertainment and GameStop .
