| What to watch today: Stocks set to drop after Dow, S&P 500 record closes | | |  | MON, APR 19, 2021 | | | | AS OF MON, APR 19, 2021 • 08:30 ET | | Dow Jones Fut | | 34,200.67 | | Current: | 34,009.00 | | Change: | -72.00 | | Impl. Open: | -76.67 | | | S&P 500 Fut | | 4,185.47 | | Current: | 4,166.00 | | Change: | -10.25 | | Impl. Open: | -11.47 | | | NASDAQ 100 Fut | | 14,041.91 | | Current: | 13,970.50 | | Change: | -59.00 | | Impl. Open: | -60.41 | | | Russell 2000 Mini | | 2,262.67 | | Current: | 2,239.70 | | Change: | -19.30 | | Impl. Open: | -15.17 | | GameStop (GME) rose 8% to around $167 per share in premarket trading after the video-game retailer said Monday that CEO George Sherman will step down. The board is looking for a successor. It's the biggest shakeup since investor Ryan Cohen, co-founder of online pet supplier Chewy, joined GameStop's board in January. (CNBC)
Keith Gill, known as "Roaring Kitty" and credited as an inspiration for the Reddit-fueled trading frenzy in GameStop, exercised options Friday, giving him 50,000 more shares at a strike price of just $12. If he had sold the options at Friday's price, he could have made over $7 million. Gill also bought 50,000 more GameStop shares, bringing his total investment to 200,000 shares worth more than $30 million. (CNBC) | | | | Police investigating Saturday night's crash of a 2019 Tesla Model S in Spring, Texas, just north of Houston, said it appears that no one was in the driver's seat when the vehicle slammed into a tree and burst into flames, killing the two men inside. Police told the New York Times that minutes before the crash, the wives of the men heard them say they wanted to go for a drive and talked about the car's Autopilot feature. Shares of Tesla fell roughly 1.5% in Monday's premarket. (CNBC) | | | | Shares of Peloton dropped 7% in Monday's premarket after the Consumer Product Safety Commission said Saturday that consumers should stop using the Peloton Tread+ treadmill if small children or pets are around. One month ago, Peloton disclosed an accident involving the treadmill that resulted in the death of a child. Peloton called the CPSC's advisory "inaccurate and misleading," insisting its treadmills are safe when all safety recommendations are followed. (CNBC) | | | | The Supreme Court will hear a case Monday that's drawn little attention in Washington even as it raises significant questions about the Biden administration's approach to immigration, not to mention the status of hundreds of thousands of immigrants living in a state of limbo. (USA Today) | | | | Princeton University is ramping up its effort to increase enrollment of first-generation and low-income students and ease their path to graduation, backed by a $20 million gift from Bloomberg Philanthropies. On Monday, the school is announcing a new center, focused on improving access and opportunities. (WSJ) | | Coinbase (COIN) was down 2% in the premarket, with two notable transactions involving the stock in the news. Cathie Wood's ARK funds bought more shares on Friday, according to her firm's daily trade summary, while regulatory filings show that Coinbase CEO Brian Armstrong sold about $292 million in shares on Coinbase's first day of trading. | | | | Harley-Davidson (HOG) best estimates with quarterly earnings. Revenue was essentially in line with forecasts. The company also raised full-year guidance for motorcycle revenue and profit margins. Separately, Harley said it would appeal a European Union ruling that could subject it to a massive tariff increase for European sales. Shares gained 8.4% in premarket action. | | | | M&T Bank (MTB) exceeded estimates on quarterly earnings and revenue. The bank noted improvements in its residential mortgage banking and trust businesses, among other factors. The stock rose 1.4% in Monday's premarket trading. | | | | Herman Miller (MLHR) tumbled 12% in premarket action after announcing a deal to buy furniture and accessories company Knoll (KNL) for $1.8 billion in cash and stock. The deal is worth $25.06 per share, compared to Knoll's Friday closing price of $17.23. Knoll's shares surged more than 28% in the premarket. | | | | Swiss billionaire Hansjorg Wyss has dropped out of a bid for Tribune Publishing (TPCO) , according to The Wall Street Journal. That leaves Choice Hotels Chairman Stewart Bainum searching for a new partner in his bid for the newspaper publisher, as he tries to outbid hedge fund Alden Capital for Tribune. Shares of Tribune were little changed. | | NASA on Monday successfully conducted the first controlled flight on another planet. The agency's Mars helicopter Ingenuity flew a short way. The chopper carried a tiny piece of fabric from the wing of Flyer 1, the Wright brothers' aircraft that in 1903 made the first powered flights on Earth. (CNBC) | | |
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