Stocks to Watch: Petrobras, CoreWeave, Moderna

Dow Jones10-26 17:49

XP (XP), Petrobras (PBR), MercadoLibre (MELI): Shares of the Brazil-linked companies slid after President Luiz Inácio Lula da Silva unexpectedly beat out Flávio Bolsonaro in Sunday's election. U.S.-traded shares of Brazilian financial-services company XP tumbled more than 40% premarket, while state oil company Petrobras's U.S. shares slid more than 20%. MercadoLibre, an e-commerce and payments company, fell 10% in early trading.

CoreWeave (CRWV), Nebius (NBIS), Iren (IREN): Shares of the so-called neocloud providers fell around 3% premarket. Worries over the sustainability of AI spending have knocked the stocks in recent weeks. Elon Musk yesterday warned that hundreds of neocloud companies could see "guppy-level death."

SpaceX (SPCX): Musk also said on X that his rocket company has closed on $40 billion in debt financing for graphics processing units. Shares rose 1% premarket.

Moderna (MRNA): Shares fell 5% ahead of the bell, on track to extend last week's selloff after results from a closely watched cancer vaccine study fell short of investors' expectations.

Verizon (VZ), Welltower (WELL) and Whirlpool $(WHR)$ are among those expected to report earnings today.

At the request of the copyright holder, you need to log in to view this content

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment