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Wall Street traders were awaiting U.S. inflation data Wednesday.
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Stock futures were higher Wednesday as investors awaited a U.S. inflation report that Wall Street hopes provides a clearer picture of the Federal Reserve’s next move on interest rates.
These stocks were poised to make moves Wednesday:
Emerson Electric
(EMR) is in advanced talks to acquire
National Instruments
(NATI), the testing-equipment maker, Bloomberg reported, citing people familiar with the matter.
Emerson has discussed paying around $60 a share, Bloomberg reported, adding that an announcement could be made as soon as this week. National Instruments was up 9.9% in premarket trading to $57.78. Emerson had made a hostile bid for National Instruments back in January, but National Instruments said it wanted to seek alternatives. Emerson Electric declined 0.5%.
Tesla
(TSLA), the electric-vehicle giant, was down 0.5% ahead of the release from the Environmental Protection Agency of tighter tailpipe emission standards, which will make it harder and more expensive to sell cars that burn gasoline and emit carbon dioxide. Shares of EV makers
Rivian Automotive
(RIVN) and
Lucid Group
(LCID) were up slightly.
Bed Bath & Beyond
(BBBY) was rising 3.6% in premarket trading to about 33 cents after disclosing in a filing that it has sold as of Monday about 100.1 million shares for roughly $48.5 million under an agreement with B. Riley Securities. Bed Bath & Beyond could sell up to $300 million under the “at the market offering” program.
Shares of
MongoDB
(MDB), the database company, gained 3.4% in premarket trading to $218.66 after being upgraded to Overweight from Equal Weight at
Morgan Stanley
,
the Fly reported. The price target on the stock was raised to $270 from $230.
Horizon Acquisition
(HZON) was rising more than 12.6% in premarket trading after the blank-check company said it terminated a business combination with subscription-based private aviation company Flexjet.
Write to Joe Woelfel at joseph.woelfel@barrons.com
