Nasdaq, S&P 500, Dow futures fall as Wall Street braces for CPI inflation data

🎮 GameStop stock sinks after eBay rejects takeover bid

GameStop stock fell 4% in premarket trading on Tuesday.

What’s behind the move: Online marketplace eBay rejected the video game retailer’s unsolicited $56 billion takeover bid.

In a letter to GameStop chairman and CEO Ryan Cohen, eBay’s board said it had thoroughly reviewed the proposal with its independent advisors and decided to reject it.

“We have concluded that your proposal is neither credible nor attractive,” the letter stated. Yahoo Finance reports.


🔋 Why is Plug Power stock soaring Tuesday?

Plug Power shares rose in premarket trading Tuesday after the hydrogen fuel cell company reported first-quarter results that topped Wall Street estimates on both revenue and earnings.

The company reported a quarterly loss of 8 cents per share, narrower than analysts’ expectations for a loss of 9 cents per share, according to Benzinga Pro data.

Revenue increased 22% year over year to $163.5 million, beating analyst estimates of $141.2 million and rising from $133.7 million in the same quarter last year. Benzinga reports.


⚛️ Quantum Computing options imply 10.5% move in share price post-earnings

Pre-earnings options volume in Quantum Computing is normal, with calls leading puts 19:4.

Implied volatility suggests the market is anticipating a move near 10.5%, or about $1.08, after results are released.

The median move over the past eight quarters is 5.3%. TipRanks reports.


🔋 FuelCell Energy stock hits 52-week high as AI data center power bets lift FCEL

FuelCell Energy rallied to a new 52-week high on Monday, closing up 16.35% at $15.94.

Investors bought into the stock after the company promoted its fuel-cell technology as a solution for AI data centers facing grid bottlenecks.

Trading volume surged to 12.9 million shares, well above the 50-day average of 4.1 million shares, according to MarketWatch. TechStock² reports.


🔗 POET Technologies soars 27% ahead of this week’s earnings

POET Technologies rallied for a second straight day on Monday, climbing 27.09% to close at $13.90 per share as investors increased positions ahead of the company’s upcoming earnings report.

Based on its historical reporting schedule, POET Technologies is expected to release its first-quarter financial and operating results on Wednesday, May 13.

The rally was boosted by announcements late last month that the company secured a new $5 million order from an unnamed technology firm for its optical engines and light products, despite the cancellation of an order from one of its major customers over an alleged confidentiality breach. Yahoo Finance reports.

Time (ET)/ Report/ Period

3:15 AM - New York Fed President John WilliAMs speaks in Zurich - N/A
6:00 AM - NFIB optimism index - April
8:30 AM - Consumer price index - April

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– Ralph Seger

Sourced in: Investment writings — GoodReads.

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