U.S. stock futures were relatively flat Tuesday, pointing to a second day of calm after last week’s earnings-driven trading swings.
Pfizer has started a clinical trial late last month of a Covid vaccine that targets the omicron variant in adults ages 18 to 55. CEO Albert Bourla has said the company expects to have the vaccine ready by March. Pfizer is also working to ramp up production and delivery of Paxlovid. Bourla has said Pfizer expects to produce 6 million to 7 million courses in the first quarter and 120 million courses by year-end.
John Foley, co-founder and chief executive officer of Peloton Interactive Inc., stands for a photograph during the company's initial public offering in front of the Nasdaq MarketSite in New York, on Thursday, Sept. 26, 2019. Peloton shares dropped more than 8% in Tuesday's premarket after the embattled connected fitness company said it will replace co-founder John Foley as CEO with former Spotify and Netflix CFO Barry McCarthy. Foley will become executive chairman. Peloton also plans to slash 2,800 jobs or about 20% of corporate employees.
In addition, the company cut full-year revenue and connected fitness subscriber guidance. Peloton on Monday closed up 20% on speculation that companies including Amazon and Nike may be interested in buy it. However, even including Monday's pop, the stock was down 80% from its February 2021 all-time high of $155.52.David Paul Morris | Bloomberg | Getty Images
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