Adobe, Smith & Wesson, BlackBerry, Orphazyme: What to Watch When | Sidnaz Blog

U.S. stock futures ticked lower, putting the Dow on track for its worst weekly performance since the end of January. Here’s what we’re watching ahead of Friday’s trading action.

  • Futures tied to the Dow Jones Industrial Average slipped 0.4% The index of blue-chip stocks had dropped 1.9% this week through Thursday.
  • S&P 500 futures were down 0.3%, putting the benchmark index on track to end a three-week streak of gains. Nasdaq-100 futures edged down 0.1%, pointing to modest losses in large technology stocks at the opening bell. Read our full market wrap.
  • A handful of small biotech companies were among the big movers premarket, including Orphazyme, which was plunging, and AnPac Bio-Medical Science which notched a big jump.
What’s Coming Up
  • The U.S. Juneteenth federal holiday is observed for the first time. The actual holiday falls on June 19, a Saturday this year. Markets will be open as usual, at least this time around.
  • The Baker Hughes rig count, a proxy for drilling activity, is out at 1 p.m. ET.
Market Movers to Watch
  • With guns a-blazing:

    Smith & Wesson

    SWBI -3.07%

    shares were among the premarket risers, adding 5.3% after the firearms maker said its sales surged in the latest quarter amid strong demand.

Smith & Wesson Brands launched its first dividend.


Bing Guan/Bloomberg News

  • Adobe

    ADBE 1.48%

    shares climbed 2.9% premarket after the software maker’s quarterly profit and forward guidance came in ahead of expectations.

  • Trading was mostly quiet among the meme stocks, but a few were managing to post mild gains.


    BB 4.89%

    was up 2.1% premarket and

    Clover Health

    CLOV -3.01%

    added 1.3%.

  • Orphazyme

    ORPH -10.18%

    is on the move again, and this time there’s a catalyst—unlike the recent volatility that the company said it could not explain. The FDA rejected the biopharmaceutical company’s application for approval of a treatment for a rare progressive genetic disorder, and it’s U.S.-traded shares plunged 53% ahead of the bell.

  • Drug company


    was flying in the opposite direction, up 22% ahead of the bell. Late Thursday it released data from a phase 2 study of a treatment of myelofibrosis.

  • AnPac Bio-Medical Science

    ANPC 0.70%

    shares jumped 20% premarket after the Chinese biotech company said Friday it has been granted its first disease-treatment patent by the U.S. Patent and Trademark Office.

Market Facts
  • Gold futures declined 4.5% on Thursday, the largest drop in over 10 months. That took gold down to $1,777.80 a troy ounce, its lowest since early May. Friday morning they edged up 0.6%.
  • record $756 billion flowed into the Federal Reserve’s reverse repo facility on Thursday, a day after the central bank boosted the return on a key part of its interest rate control tool kit.
Chart of the Day
  • Nonprofessional investors are continuing to upend financial markets and build on their forceful entrance into the trading arena last year.
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