Traders and financial professionals on the floor of the New York Stock Exchange on December 27, 2018.
Drew Angerer | Getty Images
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8:29 am: Virgin Galactic ‘overdue’ for correction, Morgan Stanley says
Shares of Virgin Galactic vaulted 310% in the past three months and Morgan Stanley says the space tourism stock is due for “a bit of a breather here.” The firm added that “a modest correction is overdue, and frankly, healthy, in our opinion.” Despite the warning, Virgin Galactic shares rose 2% in premarket trading. —Sheetz
8:25 am: Domino’s Pizza surges after earnings
Shares of Domino’s Pizza rose more than 17% during Thursday’s premarket trading after the company reported fourth quarter earnings that topped analyst expectations. For the quarter the company earned $3.13 per share, compared to consensus estimates of $2.98 per share, according to FactSet. Revenue came it at $1.15 billion, exceeding the expected $1.12 billion. —Stevens
8:22 am: Zillow Group jumps 14% as revenue beats estimates
Shares of Zillow Group gained more than 14% ahead of Thursday’s open after the company reported revenue of $944 million for the fourth quarter. According to estimates from FactSet, analysts had been calling for $814.6 million in sales. In the same quarter a year earlier, the company reported $365.3 million in revenue. As the online real estate company moves into buying and selling homes, the company said it earned $603 million in its homes segment. —Stevens
8:19 am: L Brands slides 14% as Sycamore Partners says it will acquire majority stake in Victoria’s Secret
8:15 am: Morgan Stanley to acquire E-Trade for $13 billion
Morgan Stanley has agreed to buy E-Trade in a $13 billion all-stock deal, the companies said on Thursday. The investment bank will pay $58.74 a share in stock for E-Trade, and the deal is expected to close in the fourth quarter of 2020. The takeover is set to bring together $3.1 trillion in client assets. Morgan Stanley shares fell more than 4% in premarket trading. E-Trade shares jumped about 23% to $55.16. —Li
8:11 am: Stock futures fall, S&P 500 and Nasdaq to slip from record highs
Stock futures are falling on Thursday as Wall Street is set to take a breather following a record-setting session. S&P 500 and Nasdaq 100 futures both indicate declines of 0.2% at the open. Dow Jones Industrial Average futures were down 43 points. The S&P 500 and Nasdaq hit record highs in the previous session, led by a rally in tech shares. However, lingering worries over the coronavirus tempered sentiment on Thursday. —Imbert
With reporting by Michael Sheetz.
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