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Zynga, Lululemon, Virgin Orbit, Tilray: What to see when the stock market opens today




Wall Street stock indices opened lower ahead of inflation data and the first wave of major earnings reports later this week. Here’s what we see in Monday’s trade:

  • It’s a happy day at FarmVille: Take-Two Interactive buys Zynga into a share-and-cash deal. Zynga shares rose sharply; Take-Two has slipped.
  • GameStop shares were down in the morning trading, and reversed the course from Friday̵[ads1]7;s rise which came after an announcement that they launched a new division with a focus on non-fungible tokens and cryptocurrencies.

  • Lululemon Athletica said that sales and profits for the fourth quarter will enter the low end of the guidance area, amid the staffing challenges presented by the Omicron variant.

  • Virgin Orbit shares rose in early trading, building on Friday’s 26% rise when the company debuted on Nasdaq.

Richard Branson’s Virgin Orbit, with a rocket under the wing of a modified Boeing 747 jetliner, before launching a key drop test of its high-altitude launch system for satellites, July 10, 2019.


Photo:

mike blake / Reuters

  • Cannabis product company Tilray‘s

    sales increased in the second accounting quarter as the loss was reduced and it almost turned into a profit.

  • Intel removed references to the Chinese region of Xinjiang from an open letter it sent to suppliers last month, after the contents of the note sparked an uprising on social media in China and led it to apologize to the Chinese public.

  • JPMorgan Chase,

    Citigroup and Wells Fargo start the earnings season when they report results at the end of the week.

  • R1 RCM said on Monday that they are buying Cloudmed, a software company for healthcare professionals, from New Mountain Capital in a share transaction.

  • Accolade and Limoneira will report results after the closing.

Today’s chart
  • Government pension funds pump record sums into private equity, and defy concerns about risk and costs while trying to close pension deficits.

Write to James Willhite at james.willhite@wsj.com

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