Stock futures are lower for the third consecutive day as investors brace for the Federal Reserve monetary policy meeting this week.
Here are 4 tickers trending on Yahoo Finance in premarket trading:
Ford Motor Company (F): Shares of the carmaker are lower after Ford cautioned that supply chain bottlenecks would clip its third-quarter bottom line. The automaker is projecting adjusted operating results for the third quarter would fall between $1.4 billion and $1.7 billion. Ford said it expects to have between 40,000 and 45,000 vehicles in inventory at the end of the third quarter “lacking certain parts presently in short supply.” Ford’s stock has fallen over 31% this year.
Nikola Corporation (NKLA): Shares of Nikola are higher in premarket trading after the truck maker’s top executive, Mark Russell, testified that he learned the company’s debut electric truck had neither a gas-powered turbine nor a fuel cell after joining the company. He said Nikola founder Trevor Milton had “extraordinary control” at the company. Milton has pleaded not guilty to securities and wire fraud charges two years after resigning from the company. Nikola did not admit to any wrongdoing last year when it paid $125 million to settle Securities and Exchange Commission claims.
Nikola stock has fallen 53% this year.
Moderna, Inc. (MRNA): Shares of Moderna are lower in premarket trading following President Joe Biden remarks that the pandemic is “over.” In an interview with “60 Minutes” that aired on Sunday, Biden alluded that the worst of the pandemic was behind the country. “We still have a problem with COVID,” he said. “We’re still doing a lotta work on it, but the pandemic is over.” Moderna stock has fallen 49% this year.
Beyond Meat, Inc. (BYND): Shares of Beyond Meat are trending after reports that the chief operating officer was arrested on Saturday on allegations he bit a man’s nose during a confrontation. Doug Ramsey was arrested on charges of terroristic threatening and third-degree battery, court records show. According to the court records, Ramsey was released on Sunday on an $11,085 bond. A spokesperson did not respond when asked if Ramsey is still with the company.
The arrest is the latest blow to the company, which cut its revenue outlook guidance for the year and plans to slash 4% of its labor force.
Dani Romero is a reporter for Yahoo Finance. Follow her on Twitter @daniromerotv