Welcome to the stock market today! More importantly, welcome to the end of a frustrating trading week. We have watched massive negative-to-positive reversals, the tech-heavy Nasdaq Composite slump and seen fear readings spike. Today, it looks like we are in for more of the same. So what will the stock market do today? Dive in with these three top stories.
To start, investors will find some familiar names on the morning list of top tickers. Airbnb (NASDAQ:ABNB), Tesla (NASDAQ:TSLA), Nikola (NASDAQ:NKLA) and DraftKings (NASDAQ:DKNG) are all hanging out at the top. Interestingly, three of those four are relatively new to the public markets, all having come public in 2020.
So where do these top movers come from? And what else do you need to know? Some of the top stories to watch today include an earnings slump, vaccine news and another chapter in a popular blockchain story. Dive in with InvestorPlace below.
What Will the Stock Market Do Today? Reflect on Earnings.
It is hard to believe earnings season is here and well underway, especially with so much news coming from seemingly every corner of Wall Street.
However, a quick look at the top tickers today will show you that earnings season can have a big impact. Perhaps most importantly, it is clear that investors are looking most for signs of what is to come. Revenue and earnings are largely down from pre-pandemic times, and companies are navigating all sorts of messes. But as we saw earlier with Royal Caribbean (NYSE:RCL) and the subsequent jump in cruise stocks, a bold plan for the future can be enough to inspire investor confidence.
Today, you can see that in Airbnb. Analysts were bullish on ABNB stock going into fourth-quarter earnings, its first quarterly report as a public company. The consensus was that it would benefit from a reopening rally, and that work-from-home travel was helping keep business afloat. The actual earnings report sent shares down 9%, but they are reversing course this morning. Although the company reported a $3.89 billion loss, investors are hoping for what is to come. Can rural and smaller-city bookings save the day for ABNB?
Other companies navigating the earnings maze today include Nikola (NASDAQ:NKLA) and Twitter (NYSE:TWTR). Virgin Galactic (NYSE:SPCE) is similarly tanking, after announcing a delayed test flight and the resignation of CFO Jon Campagna before earnings. Shares are down nearly 15% on Friday morning.
Want to Take a Shot? Pay Attention to the FDA.
The big day is here for Johnson & Johnson (NYSE:JNJ). In just a few hours, the Vaccines and Related Biological Products Advisory Committee will take a vote on its Covid-19 vaccine candidate. If JNJ receives this key endorsement, the full U.S. Food and Drug Administration could authorize its vaccine as early as Saturday. As CNBC reported, the FDA does not have to follow the recommendations of its advisory committee. However, history shows us that the regulatory agency often does.
Investors should closely watch the vaccine proceedings. Johnson & Johnson plans to deliver a Covid-19 vaccine with a one-shot dosing regimen. This promises to speed up the rollout, and to be more accessible than current vaccines from Moderna (NASDAQ:MRNA) and Pfizer (NYSE:PFE). Plus, with President Joe Biden focusing on mass vaccination, any way to make that easier could land JNJ stock in the good graces of investors.
So what should you watch today? Reopening plays have been on a tear this week, with airline, cruise and other travel stocks pushing ahead. However, some analysts think these stocks are overbought. At the heart of these concerns is the fact the reopening timeline is unclear. Diving into a name like JetBlue (NASDAQ:JBLU) now or American Airlines (NASDAQ:AAL) has its appeals. But if the rollout stalls or a new virus variant emerges, that narrative would face disruption. That means investors should do their own research and decide how much risk they are willing to take.
The Latest in the HUMBL Saga
Today, HUMBL finds itself once again the focus of great investor attention. The company shared yesterday that it has received approval from the Financial Industry Regulatory Authority (FINRA), and will be moving forward with the next steps in its reverse takeover. As a reminder, Tesoro and HUMBL merged in December 2020, thrusting HUMBL into the public eye.
FINRA has authorized a name change from Tesoro Enterprises to HUMBL, Inc. Additionally, it has cleared the way for TSNP stock to become HMBL. The first step is TSNPD, which the company is now trading as on the OTC markets. It will seal the deal and trade as HMBL stock starting March 26.
What else do you need to know? HUMBL announced a 1-for-4 reverse stock split, and is also hosting an investor call tonight at 5:00 p.m. Eastern. You can register for the event here.
While our questions remain about HUMBL, we encourage investors to do their own due diligence and make sure they know exactly what they are getting into. At the time of writing, TSNPD stock was up just over 16%.
On the date of publication, Sarah Smith did not have (either directly or indirectly) any positions in the securities mentioned in this article.
Sarah Smith is a Web Content Producer with InvestorPlace.com.