Bitcoin, Virgin Galactic, Chewy, Quanta: What to Watch When the Stock Market Opens Today

 Futures are edging up after the Nasdaq Composite reached its 33rd record close of the year. Here’s what we’re watching ahead of Thursday’s open.

Bitcoin is up 3.5% from its 5 p.m. ET level on Wednesday, bringing it close to $50,000, and companies in the crypto universe were also ticking higher. Trading platform Coinbase Global added 2.5% premarket, and bitcoin miner Marathon Digital gained 5.1%.

Shares of the online pet-products retailer Chewy fell 9.4% premarket after revenue in the latest quarter and its third-quarter guidance came in slightly below analysts’ expectations for both.

Virgin Galactic shed 1.3%. Aviation regulators are investigating how the spacecraft returned to the ground after taking billionaire entrepreneur Richard Branson to the edge of space.

Quanta Services surged 13% premarket. The energy infrastructure company is acquiring Blattner, a utility-scale renewable energy infrastructure provider, for $2.7 billion in stock and cash.

Hill-rom added 4.1%. Baxter International is buying the medical-technology company for $156 a share, a premium over Hill-rom’s Wednesday’s $145.06 closing price.

Shares of American Eagle Outfitters dropped more than 11% premarket. The clothing retailer’s revenue was lower than expected for the company’s second quarter, though adjusted earnings beat analysts’ consensus estimate.

Home retailer  Kirkland’s soared 14% premarket. Its earnings report showed an increase in same-store sales and it authorized a new share-repurchase plan.

Smith & Wesson Brands dropped 5.6% premarket, though the gun maker’s profit rose in its first quarter amid strong demand for its firearm even as the company cut its costs.

Five Below was trading 6% below its Wednesday closing price. The youth-focused retailer’s earnings more than doubled but sales came in a little short of expectations.

Hewlett Packard Enterprise ,   Broadcom ,   Tilly’s and  DocuSign  will provide earnings updates after the close.

Chart of the Day

Bitcoin’s recent lull can be attributed to investor interest in other corners of the crypto market—including Ethereum and NFTs.