Stock Groups

5 things to know before the stock market opens Thursday, Oct. 21

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These are the top news, trends, and analyses that traders need in order to get started with trading.

1. Dow will fall following an intraday high

Traders are seen working on the New York Stock Exchange’s floor in New York City (USA), October 20, 2021.

Brendan McDermid | Reuters

2. American and Southwest report adjusted losses, but higher revenues

Southwest Airlines Co.’s Boeing 737 passenger plane arrives at Midway International Airport in Chicago (MDW), Illinois, U.S.A, Monday Oct. 11, 2021.

Luke Sharrett | Bloomberg | Getty Images

Southwest AirlinesFederal payroll assistance helped to boost the profit for third quarter on Thursday, which was reported by the company. However excluding one-time itemsPer-share, the loss was 23 cents. Analysts had also expected a higher revenue. Southwest cancelled more than 2000 flights earlier in the month, attributing it to bad weather conditions in Florida and problems with air traffic control. Staffing shortages also contributed. Southwest claimed that customer cancellations were costly at $75 million. Shares of Southwest — up just 6% this year — rose slightly in the premarket.

At Dallas-Ft Worth International Airport, pilots speak as they examine the tail of American Airlines planes.

Mike Stone | Reuters

American AirlinesOn Thursday, American reported that it had made a profit during the third quarter due to federal payroll assistance. American reported a loss per share of 99 cents, excluding one-time expenses. Also, revenue for the quarter exceeded expectations. Shares of American — up nearly 24% in 2021 — gained 1% in the premarket.

3. Tesla wins on revenue, earnings; Tesla delivers more cars

On April 26, 2021, a Tesla car was charged at Corte Madera’s Tesla Supercharger station.

Justin Sullivan | Getty Images

The shares of Tesla — up more than 20% in 2021 and up 100% over the past 12 months — slipped 1% in Thursday’s premarket, the morning after the electric automaker reported third-quarter earnings and revenue that best estimatesThis. Tesla shipped 73% more cars than the previous quarter one year ago. Tesla reiterated its prior guidance, stating that it expected to achieve a 50% annual average growth in vehicle delivery over the long-term, despite citing several challenges such as semiconductor shortages or rolling blackouts.

4. WeWork plans to become public through a SPAC acquisition at a lower valuation

On April 12, 2018, in Shanghai, China, a general view of WeWork Weihai Road is taken. WeWork is the largest co-working space in the world. WeWork has acquired naked Hub, a Chinese competitor for 400 millions U.S. Dollars. (Photo via Jackal Pan/Visual China Group via Getty Images

VCG | Getty Images

WeWork is set to start tradingThe company became a publicly traded corporation Thursday afternoon, just two years after the planned IPO was canceled due to concerns from investors about its business model as well as its founder Adam Neumann’s leadership style. Japan’s SoftBank, an already major investor, saved WeWork from certain doom after Neumann was forced out. The office-sharing firm, BowX Acquisition, agreed in March to merge with it and make the company public. WeWork is valued at $9 billion. This far exceeds its $47 billion valuation for 2019.

5. Trump announces plan to launch social media platforms, SPAC deal

Website and announcement for “Truth Social” Donald Trump, former US president, wants to create an alternative social network. The announcement is all there is.

Getty Images| picture alliance | Getty Images

An ex-President Donald TrumpOn Wednesday, he announced that he was launching his media network. social media platform. According to the app, it is believed that this project was the first one of Trump Media and Technology Group. The SPAC merger will bring the company together with Digital World Acquisition. According to Liz Harrington’s announcement, this is according to her Twitter account. Trump’s posts about Jan. 6th riot at U.S. Capitol were notoriously blocked by the major social media platforms earlier in the year.

— Reuters contributed to this report. You can follow all market activity like a professional. CNBC Pro Find the most recent information about the pandemic here CNBC’s coronavirus coverage

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