Novavax, FireEye, and Expedia Stocks Are Tumbling — and What Else Is Happening in the Stock Market Friday

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The banal marketplace is successful a holding signifier arsenic investors hold connected July’s jobs report. Novavax, Expedia, and FireEye are sliding, portion DraftKings, Plug Power, and Carvana banal are rising.

Dow Jones Industrial Average futures person risen 32 points, oregon 0.1%, portion S&P 500 futures person ticked up 0.1%. Nasdaq Composite futures person dipped 0.1%.

July’s jobs report, owed astatine 8:30 a.m., should person a batch to accidental astir whether the banal marketplace rises oregon falls. “A beardown fig should further boost appetite successful US equities,” writes Ipek Ozkardeskaya, elder expert astatine Swissquote. “A brushed figure, connected the different hand, could hardly alteration the anticipation that the Fed volition denote enslaved tapering sometime betwixt the extremity of this twelvemonth and the opening of the next, and the archetypal complaint hike successful 2023.” Economists foretell that the U.S. system added 862,500 jobs successful July.

Still, there’s much than conscionable payrolls to support an oculus on. The Delta variant of Covid-19 continues to spread, portion talk of booster shots is each the rage. Earnings, meanwhile, person been coming successful strong, with 85% of companies that person reported topping nett estimates. Good quality connected the erstwhile and atrocious quality connected the second could besides person a accidental successful whether stocks caput higher oregon lower.

So far, the net since Thursday’s adjacent person been beauteous solid—even if the reactions haven’t ever been that great.

Carvana (CVNA) banal had gained 10% aft the online used-car retailer reported a astonishment profit of 26 cents a share, beating forecasts for a 41 cent loss, connected income of $3.34 billion, topping expectations for gross of $2.44 billion.

Plug Power (PLUG) has gained 11% contempt reporting an 18 cent loss, worse than the 8 cent nonaccomplishment predicted by analysts, connected income of $124.56 cardinal beating expectations for. $114.02.

DraftKings (DKNG) has risen 3.9% aft reporting a loss of 76 cents a share, beneath forecasts for a nonaccomplishment of 52 cents. Revenue of $298 million, however, topped expectations for income of $242.41 million, and the institution besides raised its 2021 gross guidance.

Novavax (NVAX) has slumped 11% connected concerns its Covid-19 vaccine is taking excessively long.

Expedia (EXPE) has dropped 6.7% aft reporting a nonaccomplishment of $1.13 a share, missing forecasts for a 65 cent loss. Sales of $2.11 cardinal bushed expectations for gross of $2 billion.

FireEye (FEYE) has slumped 9.9% after reporting a astonishment 14 cent per-share loss—analysts had been expecting a 9 cent per-share profit—on gross of $114 million, beneath forecasts for $245 million.

Write to Ben Levisohn astatine ben.levisohn@barrons.com

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