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CNBC
U.S. stocks futures pointed to a steady open ahead of the Federal Reserve's widely expected Wednesday afternoon announcement of a faster tapering of its bond purchases. Tech stocks once again led Wall Street lower Tuesday, with the Nasdaq dropping another 1.1% after a nearly 1.4% decline Monday. The S&P 500 and the Dow fell for the second straight session Tuesday after another hot inflation report. (CNBC)
The government said before-the-bell Wednesday that November retail sales rose just 0.3% from the prior month, only about a third of the expected advance. The slowing sales growth came against the backdrop of higher prices and reports of earlier holiday shopping. The October increase was revised slightly higher to a 1.8% increase. (Commerce Department)
IN THE NEWS TODAY
Lowe's (LOW) shares fell Wednesday after the company's sales outlook disappointed investors and raised concerns that the pandemic-fueled boom in do-it-yourself and decorating projects is cooling. Shares were down about 2% in premarket trading. (CNBC)
Eli Lilly (LLY) raised its 2022 profit and revenue forecast ahead of today's meeting with the investment community, noting it's on track to meet its goal of delivering 20 new treatments in the 10-year period through 2023. Lilly rose 4.7% in the premarket. (Reuters)
Vir Biotechnology (VIR) rallied 4.3% in the premarket, putting it in position to rise for a fifth straight day. The drugmaker announced further data showing that its Covid antibody therapy, developed in partnership with GlaxoSmithKline (GSK), was effective against the omicron variant. (Reuters)
STOCKS TO WATCH
Toyota (TM) gained 2.2% in premarket trading, after announcing it would produce a record 800,000 vehicles in January. Toyota is ramping up output to make up for prior production lost to parts shortages.
RR Donnelley (RRD) agreed to be acquired by Chatham Asset Management, the printing company's top shareholder, for about $897 million. Donnelley terminated an earlier buyout deal it reached with private equity firm Atlas Holdings after determining that Chatham's bid was a "superior proposal." The stock fell 2.8% in the premarket.
CMC Materials (CCMP) agreed to be acquired by rival Entegris (ENTG) in a cash-and-stock deal. Based on Tuesday's closing prices, the transaction is worth $197.53 per CMC share, compared with CMC's Tuesday close of $145.97. CMC rose more than 25% and Entegris fell 3% in the premarket.
CONTRIBUTORS
Matthew J. Belvedere
@Matt_Belvedere
Peter Schacknow
@peterschack
CNBC
Dow futures jumped roughly 350 points Tuesday, one day after the 30-stock average surged 646 points, or nearly 1.9%, as investors grew less worried about the new Covid omicron variant. The S&P 500 gained more than 1% and the Nasdaq, which has hit the skids of late, joined in the rally and advanced nearly 1%. Wall Street, coming off a losing week last week, has recently been volatile, evidenced by the Dow's up and downs since its 905-point plunge on Nov. 26. (CNBC)
* Cramer: Monday's market bounce may not be finished, stocks can go higher this week (CNBC) (MG NOTE: I will be deleting all future Cramer citations for using his stock pulpit to pressure folks about Covid. Bye Jim)
* Tech IPOs have been a bad bet in 2021: All but one are in bear market territory (CNBC)
IN THE NEWS TODAY
Shares of American Airlines gained 3% in the premarket after the carrier announced Tuesday that CEO Doug Parker is stepping down. He'll be succeeded by American President Robert Isom, effective March 31. Parker, 60, has been the longest-serving chief executive of a major U.S. airline. He'll continue as chairman of American's board. (CNBC)
Dow stock Intel rose about 7.5% in Tuesday's premarket, the morning after the Silicon Valley chipmaker announced plans to take its Mobileye unit public in mid-2022. Intel bought the Israeli autonomous driving firm for $15.3 billion in 2017, as part of an effort to branch out into new markets. Intel said it will remain majority shareholder of Mobileye. (CNBC)
* Toyota to build $1.29 billion EV battery plant in North Carolina, create 1,750 jobs (CNBC)
Tesla (TSLA) is replacing repeater cameras in the front fenders of at least several hundred of its Model S, X and 3 vehicles made in Fremont, California, although the company has not yet initiated a voluntary recall. That's according to internal service documents that the electric auto maker distributed in late November. (CNBC)
Tesla CEO Elon Musk, in an interview with The Wall Street Journal, said "it might be better" if President Joe Biden's $1.75 trillion social spending plan, which includes incentives to buy EVs, doesn't become law. The bill has cleared the House but not the Senate. Of course, Tesla has been helped by government subsidies.
* Musk says civilization is going to crumble if people don t have more children (WSJ) (MG NOTE: Would like to help out. Looking for a participant :)
* Samsung names new CEOs, to merge mobile, consumer electronics units (Reuters)
* Microsoft Office prices going up 20% for some business clients (CNBC)
* GOP's Devin Nunes resigns from Congress to become CEO of Trump's media firm (CNBC)
STOCKS TO WATCH
MongoDB (MDB) surged 20% in premarket action after the database platform company reported a smaller-than-expected quarterly loss and beat Street revenue forecasts. MongoDB also raised its financial outlook for the year on increased demand from businesses for online connectivity.
Coupa Software (COUP) earned an adjusted 31 cents per share for its latest quarter, well above the 2-cent consensus estimate, with revenue also topping forecasts. However, its loss widened from a year ago with a surge in operating expenses, and shares tumbled 11% in premarket trading.
Acadia Pharmaceuticals (ACAD) soared 15.5% in the premarket after announcing positive results in a late-stage trial of its experimental treatment for Rett Syndrome, a genetic disorder that primarily affects brain development in girls.
Mimecast (MIME) agreed to be acquired by private equity firm Permira for $80 per share in cash, or about $5.8 billion. The cybersecurity company jumped 6% in the premarket.
Designer Brands (DBI) beat estimates by 30 cents with adjusted quarterly earnings of 86 cents per share, but revenue fell short of Wall Street forecasts. Comparable store sales did surge by 40.8%, but that was less than the 44.5% analysts had anticipated. Nonetheless, shares rallied 3.7% in premarket trading.
AutoZone (AZO) reported a quarterly profit of $25.69 per share, beating the consensus estimate of $20.87. Revenue also beat estimates, with comparable store sales jumping 13.6%. Analysts surveyed by StreetAccount had predicted a comp-store sales rise of 5%.
Constellation Brands (STZ) agreed to build a new brewery in southeastern Mexico, according to a Wall Street Journal report. The agreement, set to be announced as early as this week, comes two years after the government forced Constellation to close a nearly completed plant near the U.S.-Mexican border.
Bumble (BMBL) rallied 7% in the premarket after JPMorgan Securities upgraded shares of the dating service operator to "overweight" from "neutral," following a meeting with management. The firm said it was now more confident in the growth trajectory and prospects for user engagement with the Bumble app.
CONTRIBUTORS
Matthew J. Belvedere
@Matt_Belvedere
Peter Schacknow
@peterschack
CNBC
Dow futures fell nearly 250 points as concern builds around European Covid outbreaks. Austria announced Friday morning that it will re-enter a full national lockdown due to a resurgence in cases. Nasdaq futures were modestly higher, however, supported by a generally upbeat premarket for tech stocks. Intuit shares soared more than 13% in Friday's premarket, the morning after the TurboTax software company blew past estimates with quarterly earnings and raised full-year revenue guidance. (CNBC)
The Nasdaq and the S&P 500 on Thursday closed at records and were tracking for positive weeks. The Dow dipped, now more than 1.5% away from its Nov. 8 record close. The 30-stock average was on pace for a negative week. (CNBC)
IN THE NEWS TODAY
Austria's fourth national Covid lockdown will start on Monday and will initially last for 10 days. The country's unvaccinated are already barred from leaving their homes for nonessential purposes. Starting Feb. 1, Austria will make vaccinations mandatory. Covid cases are spiking across Europe, prompting many governments to ramp up mitigation measures. (CNBC)
The Food and Drug Administration has cleared booster shots from Moderna and Pfizer for use in everyone 18 and older in the U.S., another key
;tep toward widespread availability. The Centers for Disease Control and Prevention still has to authorize the distribution of the additional doses. The CDC's independent panel of vaccine experts is scheduled to meet Friday. (CNBC)
* Biden administration suspends enforcement of business vaccine mandate to comply with court order (CNBC)
The House moved toward a vote on President Joe Biden's social safety net and climate plan Friday morning after a key analysis said it would only slightly add to budget deficits over a decade. Democrats had been looking at a Thursday vote, but it was postponed as House Republican leader Kevin McCarthy delivered a marathon speech. (CNBC & AP)
* TikTok usage surpassed Instagram this year among kids 12 to 17, survey says (CNBC)
Sierra Space, a unit of private aerospace contractor Sierra Nevada Corporation, raised $1.4 billion in new capital at a $4.5 billion valuation. The funding represents the first outside investment. Sierra Space has two major projects in development: The Dream Chaser spaceplane and the Orbital Reef space station, the latter which it partnered with Jeff Bezos' Blue Origin to build.
China's Xpeng (XPEV) unveiled a new electric SUV, called the G9, with plans to launch it in the third quarter of 2022 in China. Xpeng's G9 will face off against the likes of Tesla's Model Y, Nio's ES6 and Li Auto's Li One. The G9 will feature Xpeng's Xpilot semi-autonomous driving system, lidar technology and Nvidia chips. (CNBC)
* Ford plans to increase EV production to 600,000 vehicles by 2023
STOCKS TO WATCH
Foot Locker (FL) slid 3.6% in the premarket after the athletic footwear and apparel retailer said it expects global supply chain constraints to persist through this quarter. The slide comes despite a beat on both the top and bottom lines for Foot Locker's most recent quarter, as well as better-than-expected comparable store sales.
SoFi (SOFI) fell 1.9% in premarket action following news that investor Chamath Palihapitiya sold 15% of his stake in the fintech firm to help build his cash reserves and fund new investments.
Farfetch (FTCH) plunged 21.4% in the premarket after the online luxury fashion marketplace operator reported a narrower-than-expected quarterly loss but saw revenue fall short of Wall Street forecasts. The company gave weaker-than-expected adjusted earnings guidance.
Ross Stores (ROST) reported quarterly earnings of $1.09 per share, topping the 78-cent consensus estimate, with revenue also beating forecasts. However, the discount retailer said it was seeing significant supply chain issues, causing uncertainty heading into the holiday shopping season, and the stock slid 3.4% in the premarket.
Williams-Sonoma (WSM) reported adjusted quarterly earnings of $3.32 per share, beating the consensus estimate of $3.14. The housewares retailer saw better-than-expected revenue and raised its full-year forecast, noting a strong jump in e-commerce and strength across its brands.
Williams-Sonoma also reported higher-than-expected selling, general and administrative expenses during the quarter, and the stock fell 7.7% in the premarket after rising in five of the past six sessions.
Buckle (BKE) rallied 5.6% in the premarket following an upbeat quarterly earnings report. The fashion accessories retailer earned $1.26 per share for the quarter, beating the 92-cent consensus estimate, with revenue also topping Street projections.
Dillard's (DDS) added 3.2% in premarket trading after the department store operator announced a $15 per share special dividend, payable on Dec. 15 to shareholders of record as of Nov. 29.
Palo Alto Networks (PANW) jumped 3.9% in premarket trading, reversing initial losses that occurred after the cybersecurity firm gave weaker-than-expected full-year guidance. Palo Alto beat forecasts on the top and bottom lines for its most recent quarter, earning an adjusted $1.64 per share compared with a consensus estimate of $1.57.
Workday (WDAY) beat estimates by 24 cents with adjusted quarterly earnings of $1.10 per share, while the maker of human resources software saw revenue top estimates amid faster growth in subscription revenue. However, the company said the effects of the Covid-19 pandemic will weigh on growth in the coming year, and the stock tumbled 7.3% in premarket trading.
Applied Materials (AMAT) came in a penny shy of estimates with adjusted quarterly earnings of $1.94 per share. The semiconductor equipment maker's revenue fell short of forecasts as well. Applied Materials also gave a weaker-than-expected current-quarter outlook amid supply shortages of certain components, and its stock tumbled 5.7% in the premarket.
CONTRIBUTORS
Matthew J. Belvedere
@Matt_Belvedere
Peter Schacknow
@peterschack
And out 4.4
Bank in dec klic calls
Picked up some klic calls on the dip, sold too soon for 1
Holding shares for 100+
is this board supposed to be for spamming pump and dumps?
Perhaps the answer to your question lies here: Intro
Specifically the first paragraph:
PURPOSE: The purpose of this board is to post breaking news releases on NASDAQ, AMEX, and NYSE issues. We are looking for news that has the potential to move the particular stock in either direction. Please post a link for verification when possible.
FORMAT: For the initial post, please begin your post with the ticker, current SP, news, comments and your entry if you wish.
PRIMARY FOCUS: The primary focus will be news releases, which, of course, includes earnings plays, and can encompass run-ups as well as aftershocks to the news releases.
SECONDARY FOCUS: Your actual trades, share structure, charts, technical analysis, fundamental analysis, due diligence; all are very welcome topics for discussion.
STYLE: Long or Short, you are welcome here. We do intraday, short term, swing trades, continuation, and long term plays. Option trades and strategies are welcome. No limits, really.
is this board
supposed to be for spamming pump and dumps?
I thought it was for real stocks. go figure!
GOED Starting a move up?
https://stockcharts.com/h-sc/ui?s=GOED
Reports Monday, Pre-Mkt.
Total crapshoot. Same as playing the ponies. I'm holding a sizable long position into earnings.
Warning: Will shipping delays kill earnings?
Snapshot:GOED
1847 GOEDEKER INC
2.76 Up 0.09 (3.3708 %) AS OF 10:27:27AM ET 11/12/2021
1847 Goedeker Inc. Announces Date for Third Quarter Fiscal 2021 Earnings Release
BY Business Wire
— 8:00 AM ET 11/02/2021
ST. CHARLES, Mo.--(BUSINESS WIRE)-- 1847 Goedeker Inc. (GOED) ("Goedeker" or the "Company"), one of the largest specialty ecommerce players in the U.S. household appliances market, today announced that it will report third quarter fiscal 2021 earnings results before the market opens on Monday, November 15, 2021. The Company will host an investor conference call at 8:00 a.m. ET on the same day to review its results. This call and all supplemental information can be accessed on Goedeker’s investor relations site at https://investor.goedekers.com. The phone number for the investor conference call is 877-317-6789 (domestic) or 412-317-6789 (international); please ask to join the Goedeker Q3 2021 Earnings Call.
CNBC
U.S. stock futures rose Friday, helped by premarket strength in Dow component Johnson & Johnson (JNJ) on plans to split into two companies. The Nasdaq and the S&P 500 rebounded Thursday. But the Dow Jones Industrial Average fell for a third straight session, pulled down by Disney's (DIS) 7% decline on disappointing quarterly results. Dow stock Disney was modestly higher in Friday's premarket. (CNBC)
The U.S. bond market opened back up Friday after the Veterans Day holiday, with the 10-year Treasury yield ticking higher to 1.57%, holding on to gains after this week's hot inflation data. The government is out with its Job Openings and Labor Turnover Survey at 10 a.m. ET. JOLTS in September is expected to show employment vacancies dropping to 10.2 million after the prior month's 10.4 million, fueled by record quits.
IN THE NEWS TODAY
J&J shares rose roughly 3% in the premarket after the health-care giant announced Friday it's splitting into two publicly traded companies: one focused on consumer products, such as Band-Aid bandages and baby powder, and the other focused on medical devices and pharmaceuticals, including its Covid vaccine (CNBC)
* Austria to impose lockdown on millions of unvaccinated people as Covid (CNBC)
* Vaccines alone won't end the pandemic, says New Zealand's ex-prime minister (CNBC)
Shares of Rivian Automotive (RIVN) rose nearly 4% in Friday's premarket, a move that would add to the newly public electric vehicle maker's two-day gain of 57%. Since Wednesday's debut, Rivian's market value has climbed to $105 billion and CEO R.J. Scaringe's stake in the company he founded in 2009 was valued at $2.2 billion. (CNBC)
Rivian, which has Amazon (AMZN) and Ford (F) as backers, pales in comparison to Tesla's more than $1 trillion market value. Elon Musk, worth more than $275 billion, took a shot at his rival Thursday, saying high production and break-even cash flow will be the true test for Rivian. (CNBC)
* Xpeng shares spike 10% as the Chinese electric carmaker teases new SUV (CNBC)
Alibaba (BABA) and JD.com (JD) racked up around $139 billion of sales across their platforms on China's Singles Day shopping event, setting a record. Singles Day was slightly more muted this year as Chinese tech companies continued to face scrutiny from regulators and Chinese President Xi Jinping's push for so-called common prosperity. (CNBC)
STOCKS TO WATCH
Lordstown Motors (RIDE) plummeted 10% in premarket trading on Friday after the company reported another quarter with no revenue. Lordstown said it plans to produce and deliver its Endurance truck in the third quarter of 2022. The company's loss per share was narrower than expected in its most recent quarter, according to Refinitiv. BTIG also downgraded Lordstown Motors to neutral from buy.
WM Technology (MAPS) was 16% lower in premarket trading on Friday after missing on the top and bottom lines of its quarterly results. WM Technology's fourth-quarter guidance also came in under expectations.
Nvidia fell slightly in premarket trading on Friday after Wedbush downgraded Nvidia to neutral from outperform on valuation. The Wedbush analyst is struggling to justify Nvidia trading 55x the firm's 2024 numbers.
Hewlett Packard Enterprise (HPE) ticked lower in premarket trading on Friday after Goldman Sachs downgraded the stock to sell from neutral, citing a weakening IT spending environment in late 2021 and early 2022. The Wall Street firm cut its price target to $14 per share from $16 per share.
Blink Charging (BLNK) rose 5% in premarket trading on Friday as investors cheered strong third-quarter revenue. The company reported $6.4 million in revenue, well ahead of the $4.7 million expected by analysts, according to Refinitiv.
Caesars Entertainment (CZR) rose in premarket trading on Friday after B Riley Securities initiated coverage of Caesars Entertainment with a buy rating and a $191 per share price target.
Warby Parker fell in premarket trading on Friday after the company reported wider-than-expected losses as direct listing costs offset 32% sales growth. Warby's net loss for the three-month period ended Sept. 30 widened to $91.1 million, or $1.45 per share, compared with a loss of $41.6 million, or 78 cents a share, a year earlier
CONTRIBUTORS
Matthew J. Belvedere
@Matt_Belvedere
hello….. hello!!!!
I thought this was a helping board??
hello I need dry powder advice. what to do what to do?
I got some dry powder still
does anyone know where I can get a pair of those white new balance with the velcro?
and the stock symbol, too…..TIA
still dead here!!!
i was hoping for stock help
two words. ….dry powder
CNBC
U.S. stock futures were relatively flat Tuesday, one day after the S&P 500 closed above 4,700 for the first time ever. The Dow Jones Industrial Average and the Nasdaq also rallied to record-high closes Monday as industrials and materials stocks got a boost from the late-Friday approval in the House of the Senate-passed infrastructure bill. President Joe Biden is expected to sign it. (CNBC)
IN THE NEWS TODAY
U.S. industrial giant General Electric (GE) will split into three separate companies, aviation, health care and energy, following years of lackluster stock performance. GE plans to spin off the health-care unit by early 2023 and the energy unit by early 2024, the company said in a press release. Shares of GE surged in premarket trading after the announcement. (CNBC)
Bitcoin and ether hit new all-time highs Tuesday, before slightly trimming their gains, as cryptocurrencies extended their rallies. Bitcoin, the world's biggest digital currency, topped $68,500. Ether, the No. 2 crypto and native currency of Ethereum's blockchain, jumped above $4,800 for the first time ever. So far this year, bitcoin has gained more than 130% and ether has surged about 550%. (CNBC)
* Ripple to launch crypto service for financial firms amid legal battle with SEC (CNBC)
Shares of Roblox (RBLX) jumped more than 25% in Tuesday's premarket, the morning after the online gaming platform reported third-quarter results that impressed analysts. The service was unavailable between Oct. 28 and Oct. 31, a period that falls in the company's fourth quarter. Roblox started trading on the New York Stock Exchange in March following a direct listing. (CNBC)
PayPal (PYPL) shares sank more than 5% in Tuesday's premarket, the morning after the payments company reported lower-than-expected third-quarter revenue and warned on outlook. Third-quarter adjusted earnings beat estimates. PayPal also said it's teaming up with Amazon (AMZN) to let U.S. customers pay with its Venmo service at the e-commerce giant's checkout, starting in 2022. (CNBC)
AMC Entertainment (AMC) dropped almost 5% in premarket trading after its CEO said there are still Covid challenges ahead. The movie theater operator posted a third-quarter loss that was narrower than expected and revenue above estimates. The stock rose 8% in Monday's regular session before the company released after-the-bell results. AMC has been at the center of this year's meme stock craze, skyrocketing more than 2,025% in 2021. (CNBC)
CNBC's Jim Cramer said Monday evening he's skeptical Rivian will be the next Tesla (TSLA) and would rather own shares of Ford (F). With Amazon (AMZN) and Ford as sizable investors, Rivian plans to price its IPO between $72 and $74 per share tonight, with trading starting tomorrow. Ultimately, the "Mad Money" host told viewers "if you really believe in Rivian, you've got my blessing to speculate."
* Hertz shareholders increase public stock offering, raise $1.3 billion (CNBC)
* Panera Bread announces SPAC investment, to go public markets through an IPO (CNBC)
Macy's (M) will raise its minimum wage, for new and current workers, to $15 per hour by next May. Once the higher pay is in effect, Macy's average base pay will be above $17 per hour, and average total pay will be $20 an hour. The department store chain is also adding an education benefit that will cover 100% of tuition, books and fees. (CNBC)
The White House told businesses to move forward with President Joe Biden's vaccine and testing requirements for private businesses, despite a federal appeals court ordering a temporary halt to the rules. OSHA, which polices workplace safety for the Labor Department, developed the rules under emergency authority established by Congress. (CNBC)
* Federal judge rules United Airlines' employee vaccine mandate can continue (CNBC)
* United aims to find non-customer facing roles for workers exempted from mandate (Reuters)
STOCKS TO WATCH
Luminar Technologies (LAZR) jumped more than 35% in Tuesday's premarket after Nvidia (NVDA) picked the company's automotive lidar solution to be part of the sensor suite in its driverless vehicle platform. Nvidia shares rose nearly 5%.
EVgo (EVGO) rose another 30% in premarket trading after announcing an expansion of its fast charging infrastructure build-out collaboration with General Motors (GM) and an expansion of its EV charging program for Uber drivers.
Palantir (PLTR) dipped 2% in the premarket even after the software and data analytics company's third-quarter revenue beat the Wall Street forecast. The company reported revenue of $392 million versus $385 million expected, according to Refinitiv. Palantir's earnings per share were in line with estimates.
Nucor (NUE) dipped more than 1% in early morning trading after Citi downgraded the steel stock to neutral from buy. After Nucor rallied Monday following the House's passage of a massive infrastructure spending bill, Citi said the good news was already priced into Nucor shares.
TripAdvisor (TRIP) fell more than 8% premarket after the travel-booking company missed Wall Street expectations for its third-quarter financial results. The company earned an adjusted 16 cents per share on $303 million in revenue. Analysts surveyed by Refinitiv expected the company to earn 24 cents per share on $304 million in revenue.
Robinhood Markets (HOOD) retreated more than 3% in early morning trading after the company announced a data security breach. Robinhood said the breach occurred late in the evening last Wednesday, and that the third party "obtained access to a limited amount of personal information for a portion of [Robinhood's] customers."
SmileDirectClub (SDC) sunk more than 22% in early morning trading after the digital dentistry company reported weaker-than-expected. quarterly results. The company reported revenue of $138 million, short of the expected $182.5 million, according to estimates from StreetAccount.
Richard Fain has decided to step down as Royal Caribbean (RCL) CEO on Jan. 3. Chief Financial Officer Jason Liberty will succeed Fain as CEO and join the board. Fain will remain chairman. Royal Caribbean shares were little changed in the premarket.
CONTRIBUTORS
Matthew J. Belvedere
@Matt_Belvedere
Jesse Pound
@jesserpound
wow
this board is dead!
too bad….I had some dry powder to buy some stock from all the great advice here , but now I may have to use some other choices …. lmk which ones you like
Here’s what you can do with dry powder
1. Prevent chafing
Ouch! Whether it’s a hot summer’s day or if you’re about to exercise, dust talcum powder between your thighs to eliminate friction. Keeping your skin smooth and pain-free, and avoiding the risk of sores.
2. Combat smelly shoes
If you or someone in your house has stinky shoes, talcum powder works wonders to stop the stench. Simply sprinkle a light dusting of talcum powder inside the shoe and leave them overnight.
In the morning, shake out the baby powder and you’re good to go. Try with your gym trainers before you go to the gym too, and the powder will absorb any sweat leaving your shoes smelling fresher.
3. Thicken your eyelashes
Try dusting them with talcum powder before you apply mascara. The powder acts as a primer which gives you fuller, longer looking lashes without the need for falsies.
4. Face primer
A dusting of talc will help your make up stay on for longer, as it absorbs facial oils, which helps to set your make-up for the day or night.
Quick Tip: Talcum powder can also be mixed with a powder or bronzer that is a bit too dark to lighten it up.
5. Soothe dry skin and treat eczema
Talcum powder can work like a moisturiser to help soothe extra dry skin and if you have areas of irritated skin, rub a bit of talcum powder in to calm it. You can actually buy dermatologically approved powder for prone skin, too.
6. Wipe away sand easily
All beach bags should had talcum powder. To get sand off your skin simply sprinkle the powder on and wipe off.
The sweat, oil and water that’s causing the sand to stick will be absorbed by the powder meaning the sand can be easily wiped off your skin. Better still, you’ll know your car and house won’t turn into a sandy mess too.
7. Use instead of dry shampoo
Sprinkle some talcum powder underneath the top layer of hair at your roots to absorb excess oil.
If you have dark hair, mix the powder with cocoa powder and for red hair, mix in some cinnamon. Gently brush through to evenly distribute the product evenly and no-one will ever know.
8. Cool your sheets
During a hot summer’s night, sprinkle some talcum powder on your bed sheets before heading to sleep and you’ll feel cool and dry all night long.
9. Get silky smooth legs
After exfoliating, apply talcum powder to the area of skin you’ll be waxing before you begin. It will absorb any excess oil on the skin’s surface so the wax will be able to grab your hairs better. Better still, your skin will be soothed by the cooling effect of the powder.
10. Freshen up your house
If your wardrobe is smelling a bit musty freshen it up with talcum powder. Sprinkle a small amount into an open jar and leave in your wardrobe. The moisture removing properties of the powder will keep it free from that musty smell.
You can also use it to freshen up your carpets as well. Sprinkle a light covering, let it sit for about fifteen minutes and then hoover up – this works wonders for removing tough smells, such as pets or cigarettes.
11. Smooth scrolling
When using a laptop trackpad, oily hands can make it difficult to glide your fingers across the area. A sprinkle of baby powder on your fingers can make scrolling easier and prevent any accidental clicks.
12. Deodorant booster
Baby powder absorbs sweat, so adding it to your morning routine can help your deodorant to last longer.
When applied after a roll-on deodorant, the baby powder works as an extra layer of protection that keeps you smelling great. It also prevents the sticky feeling that can occur after re-applying deodorant
gonna be a tough decision. stocks or ….. ? hmmmm
CNBC
The Dow was set to start November higher, as futures showed a 150-point advance, after October on Wall Street ended Friday, with record closes for the 30-stock average, the S&P 500 and the Nasdaq. In fact, stocks in October, an infamously tricky month, finished higher. The Dow, S&P 500 and Nasdaq all logged weekly gains for four straight weeks. For the month, the Dow was up 5.8%; the S&P 500 was up nearly 7%; and the Nasdaq was up almost 7.3%. (CNBC)
While the November-December stretch has historically been positive for stocks, this year's bullish tone could be tested as the Federal Reserve starts its two-day November meeting Tuesday. Central bankers are expected to announce the beginning of a tapering of Covid-era bond purchases. Friday brings the government's October employment report. (CNBC)
IN THE NEWS TODAY
American Airlines (LUV) scrapped some 250 flights, or about 9%, of its Monday schedule, according to flight-tracking site FlightAware, on top of more than 1,700 cancellations since Friday. The carrier blamed staffing problems and high winds at its busiest hub, Dallas/Fort Worth International Airport, last week. (CNBC)
Shanghai Disney suspended entry late Sunday and asked visitors to get coronavirus tests upon exiting and another one 24 hours later. The resort is closed Monday and Tuesday, and visitors can request a refund for tickets. Shanghai Disney cited cooperation with "pandemic investigation in other provinces and cities" in China. (CNBC)
* Moderna says FDA needs more time to review its Covid vaccine for teens (CNBC)
Online gaming platform Roblox (RBLX) restored its services Sunday after an outage that began on Thursday. Early reports speculated the outage was related to a Halloween promotion event in partnership with food chain Chipotle (CMG). However, Roblox said it was "not related to any specific experiences or partnerships on the platform." (CNBC)
Coca-Cola (KO) is buying full control of BodyArmor for $5.6 billion in a deal that values the sports drink brand at about $8 billion, according to people familiar with the matter. The move ramps up a rivalry with PepsiCo (PEP) owned Gatorade, which was on track for $1.4 billion in retail sales this year. (WSJ)
* Striking Deere workers are set to vote Tuesday on new contract offer (WSJ)
Digital Currency Group is selling shares to SoftBank and Google's venture capital arm in a deal that values the crypto conglomerate at more than $10 billion. Digital Currency Group is is the parent company of several big names in the crypto space, including Grayscale. (CNBC)
* Little-known cryptocurrency spiked 400% after Facebook changed its name to Meta (CNBC)
STOCKS TO WATCH
Harley-Davidson (HOG) soared 9.4% in the premarket after the U.S. and the European Union ended a dispute involving steel and aluminum tariffs. Harley could have paid European tariffs of 56% if the dispute had not been resolved.
GameStop (GME) Chief Operating Officer Jenna Owens is leaving the videogame retailer after just seven months. GameStop did not give a reason for the departure of Owens, who had been a top executive at Amazon and Google before joining GameStop.
Trivago (TRVG) jumped 4% in the premarket after it reported an unexpected profit and better-than-expected revenue for its latest quarter. Trivago cited improving travel trends as pandemic restrictions ease and vaccinations increase.
Xpeng (XPEV) jumped 3.7% in premarket trading after the Chinese electric vehicle maker said it delivered 10,138 cars in October, an increase of 233% over a year ago.
CONTRIBUTORS
Matthew J. Belvedere
@Matt_Belvedere
Peter Schacknow
@peterschack
Hi seward. Based on your saying it had gone to zero and a cursory look now shows it trading and current, I'd say either it came back to life or another company took over the shell. The latter happens all the time. It's easier to slip into a shell than go public from scratch.
Your way up from zero!
Thanks for the question and should a similar situation occur in the future, call me when it goes from zero to .0001 or .0002. I'll buy you lunch.
Good luck!
MG
I’m confused
I had AMST some years ago and it went to zero. It shows up in my TDAmeritrade account as a 9 digit number with a value of zero for my 41000 shares. Now that ticker is trading again. What’s with that ?
TIA
hans
CNBC
U.S. stock futures were higher Tuesday morning, as Wall Street looked to build on Monday's record close for the Dow Jones Industrial Average and S&P 500. Dow futures implied an opening gain of more than 100 points, and S&P 500 and Nasdaq futures also were firmly in the green. The blue-chip Dow has risen in four of its past five sessions, while the broad S&P has posted eight positive sessions in its past nine. The tech-heavy Nasdaq, which outperformed Monday, enters Tuesday 1.15% off its record high. (CNBC)
* Treasury yields fall slightly on Tuesday (CNBC)
Tuesday's earnings slate is crowded. United Parcel Service (UPS) , Eli Lilly (LLY), 3M (MMM) and General Electric (GE), among others, reported before the bell. After the close, Alphabet (GOOGL), Microsoft (MSFT), Twitter (TWTR), Robinhood (HOOD) and Advanced Micro Devices (AMD) are scheduled to release results.
* UPS delivers profit, revenue beat on e-commerce demand (UPS)
* GE lifts 2021 earnings forecast, flags 'challenging operating environment' (Reuters)
IN THE NEWS TODAY
Facebook (FB) shares were higher by about 2% in premarket trading, as investors cheered the social media company's better-than-expected third-quarter earnings and its decision to add $50 billion to its stock repurchase plan. While Facebook's revenue fell short of estimates, per-share earnings of $3.22 topped projections of $3.19, according to Refinitiv. (CNBC)
* Zuckerberg slams recent negative press before painting rosy, futuristic vision for Facebook (CNBC)
Tesla (TSLA) reached $1 trillion in market capitalization Monday, after shares of the electric vehicle maker surged 12.66% to close at $1,024.86. The stock was down by less than 1% in Tuesday's premarket. Monday's big move followed news that car rental company Hertz is ordering 100,000 vehicles from Tesla by the end of 2022. It also came after Morgan Stanley auto analyst Adam Jonas hiked his price target on Tesla to $1,200 from $900. (CNBC)
* Americans are buying Teslas, not EVs, but experts say that s about to change (CNBC)
Verizon (VZ) and Amazon (AMZN) are partnering to expand rural broadband access in the U.S, the companies announced Tuesday. To do so, Verizon plans to use Amazon's coming satellite internet system, known as Project Kuiper, which last year received authorization from the Federal Communications Commission. (CNBC)
The Biden administration released new details Monday on its Covid rules that will go into effect Nov. 8, when the U.S. removes curbs on international travel that had been in place since the early days of the coronavirus pandemic in 2020. Airlines will be required to check the vaccination status of passengers flying to the U.S. and collect information that can be used for contact tracing. (CNBC)
Congressional Democrats and the White House are hustling to reach a deal on their signature domestic spending package, possibly before President Joe Biden heads to Europe on Thursday for a series of meetings. Should Democrats agree on a scaled-back version of the spending plan, House Speaker Nancy Pelosi would then bring up for vote the companion bipartisan infrastructure bill that's already passed the Senate. If the House approves that legislation, Biden may sign it into law later this week. (CNBC)
STOCKS TO WATCH
General Electric (GE) beat estimates by 14 cents a share, with quarterly profit of 57 cents per share. Revenue came in below analysts' forecasts, however. The company also reported better-than-expected free cash flow. Its shares rose 1.4% in premarket trading.
Recreational vehicle maker Polaris (PII) tumbled 5.9% in premarket action after the company cut its full-year outlook, hurt by supply chain constraints. Polaris matched estimates with quarterly earnings of $1.98 per share. Revenue fell short of consensus.
United Parcel Service (UPS) rallied 5% in the premarket following better-than-expected results. UPS reported quarterly earnings of $2.71 per share, 16 cents a share above estimates. Revenue also topped forecasts on strong e-commerce demand.
Corning (GLW) fell 3.4% in the premarket after it reported that the automotive industry production slowdown impacted its quarterly results. The glass and specialty materials maker missed estimates by 2 cents a share, with quarterly earnings of 56 cents per share. Revenue also missed forecasts.
Eli Lilly (LLY) shares gained 1% in premarket action despite a 4 cents a share quarterly earnings miss, with profit of $1.94 per share. Revenue beat forecasts, but the drugmaker spent more money during the quarter on research and development. The company also raised its full-year outlook.
3M (MMM) reported quarterly earnings of $2.45 per share, compared with a consensus estimate of $2.20 a share. Revenue exceeded Street forecasts.
3M saw increased demand during the quarter for both its consumer and industrial segments.
Hasbro (HAS) beat consensus forecasts by 27 cents a share, with quarterly earnings of $1.96 per share. The toy maker's revenue matched analysts' projections. Hasbro warned that supply chain bottlenecks would hit holiday sales.
The RealReal (REAL) jumped 4.8% in the premarket after Raymond James upgraded the online seller of secondhand luxury goods to outperform from market perform. Raymond James cites near-term revenue strength and the prospects for profitability growth.
Coinbase (COIN) gained 2% in premarket trading after Citi began coverage of the cryptocurrency exchange operator with a buy/high-risk rating. Citi said the risk stems from exposure to the volatile crypto market but said the company will benefit from increasing adoption.
CONTRIBUTORS
Peter Schacknow
@peterschack
Kevin Stankiewicz
@kevin_stank
CNBC
U.S. stock futures fell Monday. Energy names surged as U.S. oil prices hit seven-year highs to start the new week. Dow stock Merck was nearly flat in Monday's premarket after the drugmaker said it applied for emergency use authorization in the U.S. for its antiviral Covid pill. There was no U.S. bond trading Monday due to the Columbus Day holiday. (CNBC)
* Goldman cuts U.S. economic growth outlook, citing slower consumer spending (CNBC Pro)
The Dow, the S&P 500 and the Nasdaq all finished higher last week, despite breaking a three-day winning streak Friday. A huge miss on September employment growth was largely overshadowed by optimism about a short-term debt ceiling deal. (CNBC)
U.S. oil prices, measured by West Texas Intermediate crude, surged 3.5% on Monday to more than $82 per barrel after rising nearly 4.6% last week. Gasoline prices at the pump were also at seven-year highs, around $3.27 per gallon, according to AAA. Crude prices extended multiweek gains as an energy crisis gripping major global economies showed no sign of easing. (Reuters)
* Lebanon suffers 24-hour blackout, business closures due to fuel crisis (CNBC)
This week, major banks kick off their third-quarter earnings. JPMorgan Chase, Goldman Sachs, Bank of America, Morgan Stanley, Wells Fargo and Citigroup are scheduled to report results beginning Wednesday. Analysts estimate an earnings growth rate of 27.6% for the S&P 500 for the third quarter, which would be the third-highest growth rate since 2010. (CNBC)
IN THE NEWS TODAY
Treasury Secretary Janet Yellen said Sunday there's an "enormous amount at stake" after the Senate approved only a short-term extension of the debt ceiling, again setting up the potential for default in December if lawmakers are unable to make another deal. The House, which had been scheduled to be out this week, is set to return Tuesday to pass the measure. (NBC News)
Southwest Airlines (LUV) canceled more than 1,800 flights this weekend, disrupting the travel plans of thousands of customers and stranding flight crews. Southwest canceled 349 flights, 9% of its schedule, on Monday, according FlightAware. On Saturday, union officials said Southwest's decision this week to join its rivals in requiring Covid vaccines for workers is contributing to distractions for aviators. (CNBC)
China-based electric vehicle maker Xpeng (XPEV) said it's has surpassed 100,000 cars produced, coming six years after the company launched.
Chinese rival Nio (NIO) reached that goal in April. For comparison, Elon Musk's Tesla (TSLA) took 12 years from its launch in 2003 to produce 100,000 vehicles. (CNBC)
Three U.S.-based economists, David Card, Joshua D. Angrist and Guido W. Imbens, have been awarded the Nobel economics prize. Card was recognized for his contributions to labor economics, while Angrist and Imbens won the award for their contributions to the analysis of causal relationships. (CNBC)
STOCKS TO WATCH
Robinhood (HOOD) fell 2% in premarket action, following a Securities and Exchange Commission filing that detailed the risks of increased regulation of cryptocurrency trading as well as possible new rules surrounding payment for order flow.
SoFi Technologies (SOFI) rallied 3% in premarket action after Morgan Stanley initiated coverage with an "overweight" rating, calling it a "powerful revenue growth story" as it gains market share in the consumer finance space.
Apple (AAPL) asked a judge to delay changes to its App Store that would require it to allow developers to bypass Apple's in-app payment system. The changes stemmed from the case involving "Fortnite" creator Epic Games and is scheduled to go into effect Dec. 9, but Apple is asking that its appeal be allowed to play out first.
Starbucks (SBUX) added 1% in the premarket after Deutsche Bank upgraded the stock to "buy" from "hold," citing "incredible" U.S. momentum and the prospect of sustained unit growth in China.
Aspen Technology (AZPN) announced a deal to merge with two of Emerson Electric's (EMR) software businesses in a deal worth approximately $11 billion. Aspen Technology had been up nearly 13% over the past two sessions since reports of talks between the two companies first surfaced.
Workers at Deere & Co. (DE) represented by the United Auto Workers Union rejected a tentative contract agreement. Union members said they want bigger raises and benefits than those proposed in the rejected six-year deal, based on strong profits for Deere.
ConocoPhillips (COP) was downgraded to "neutral" from "buy" at Goldman Sachs, which cited valuation for the move. The stock has gained 88% this year and was up another 1.2% in the premarket.
Steel and iron producer Cleveland-Cliffs (CLF) shares gained 2% in premarket trading after it announced the acquisition of iron scrap processor Ferrous Processing and Trading for about $775 million.
CONTRIBUTORS
Matthew J. Belvedere
@Matt_Belvedere
Peter Schacknow
@peterschack
CNBC
Dow futures dropped about 350 points, or 1%, on Wednesday as October so far lives up to its reputation for extreme volatility. S&P 500 and Nasdaq futures fell more than 1.2% and nearly 1.5%, respectively, in premarket trading. On Tuesday, the Dow Jones Industrial Average, S&P 500 and Nasdaq all soared roughly 1% in a rebound from the prior session's slide. On Friday, Wall Street started the new month, after a rough September, with a strong rally. (CNBC)
Many market strategists pointed out that even though October can be tricky, the fourth quarter has historically been a mostly strong period for stocks. The Nasdaq was 6% away from its Sept. 7 record close. The S&P 500 was 4.2% from from its Sept. 2 record close. The Dow was 3.7% away from its Aug. 16.
Rising bond yields on Wednesday were pressuring tech stocks, with Apple, Microsoft and Amazon all falling more than 1% each in the premarket. The 10-year Treasury yield topped 1.55% ahead of the first of three key jobs reports. (CNBC)
Before the opening bell Wednesday, ADP is out with its September look at private sector employment at 8:15 a.m. ET. Economists expected that U.S. companies created 425,000 new jobs during the month compared with 347,000 in August. The Labor Department issues weekly jobless claims Thursday morning, one day before the big September employment report.
U.S. oil prices on Wednesday pulled back modestly from near seven-year highs, on track to break a four-session winning streak. West Texas Intermediate crude, however, gained 1.7% on Tuesday, settling at $78.93 per barrel after hitting a session high of almost $80. WTI has gained nearly 65% in 2021, adding price pressures in the U.S. at a time when the Fed is trying to gauge the staying power of higher inflation. (Reuters)
IN THE NEWS TODAY
Sen. Joe Manchin, a high-profile Democratic holdout, wants a bill closer to $1.5 trillion. For passage, Democrats need every vote in the 50-50 Senate and all but three in the House.
Biden said Democrats are considering a change to the Senate's filibuster rules in order to quickly pass a debt ceiling increase needed avoid a devastating credit default. The deadline set by the Treasury Department is Oct. 18. Getting rid of the filibuster would lower the typical 60-vote threshold for passage to 50. (AP)
Home Depot (HD) has hired Walmart (WMT) to deliver paint, tools and other online purchases to its customers' doors. Home Depot is the first customer for Walmart's new delivery business, GoLocal. The same-day and next-day delivery service will be limited to home improvement purchases that can easily fit into a car, such as fasteners, boxes of nails or paint brushes. (CNBC)
STOCKS TO WATCH
Constellation Brands (STZ) reported adjusted quarterly earnings of $2.38 per share, missing the $2.77 consensus estimate, although revenue did beat Wall Street forecasts and Constellation increased its full-year earnings outlook. Shares fell 2.2% in the premarket.
Acuity Brands (AYI), a maker of lighting and building management systems, reported an adjusted quarterly profit of $3.27 per share, beating the consensus estimate of $2.85, with revenue topping forecasts as well. The earnings beat came amid what the company terms a "challenging" environment that included higher labor, materials and freight costs.
Palantir Technologies (PLTR) surged 8% in the premarket following news that it won an $823 million Army contract to provide its Gotham platform, an operating system designed to optimize defense decision-making.
Norwegian Cruise Line (NCLH)CEO Frank Del Rio told CNBC's Closing Bell that the company would have its full fleet in operation by April for the first time since the pandemic began. He said 75% of ships should be sailing by the end of this year. Norwegian shares fell 1.7% in premarket trading.
Seagate Technology (STX) slid 3.3% in the premarket after Morgan Stanley downgraded the stock to "equal weight" from "overweight," citing deteriorating industry data including rising inventory levels and a drop in corporate spending plans.
General Motors (GM) shares will be on CNBC's watch list today as GM holds its investor day, set to highlight its plans for electric vehicle growth.
Southwest Gas (SWX) struck a deal to buy Questar Pipelines from Dominion Energy (D) for $1.975 billion in cash and assumed debt. Investor Carl Icahn, who holds a 4.9% stake in Southwest Gas, had sent a letter to the company objecting to such a deal when reports of it first surfaced earlier this week.
CONTRIBUTORS
Matthew J. Belvedere
@Matt_Belvedere
Peter Schacknow
@peterschack
CNBC (Friday)
Dow futures rallied Friday, reversing an earlier sharp decline, on the first day of October after the worst month of the year. Premarket trading turned on good trial news on Merck's (MRK) oral Covid treatment. The Dow, which fared relatively better than the S&P 500 and Nasdaq in last week's plunge, suffered the most severe slide Thursday, down 1.6%. The S&P 500 fell about 1.2%. The Nasdaq, getting some relief from retreating bond yields, dropped 0.4%. (CNBC)
* For September, the Dow fell 4.3%; the S&P 500 fell nearly 4.8%; and the Nasdaq fell 5.3%.
* For the third quarter, which also ended Thursday, the Dow dropped 1.9%; the S&P 500 gained 0.2%; and the Nasdaq fell 0.4%.
* However, all three benchmarks were still solidly higher for the year, with respective gains of roughly 10.6%, 14.7% and 12.1%.
* Historically, October has had some violent sell-offs but overall is typically the start of better seasonal performance for stocks.
The 10-year Treasury yield ticked lower Friday, around 1.5%. Earlier this week, the 10-year yield saw three-month highs above 1.567%. The government on Friday released an inflation measure the Federal Reserve uses to set monetary policy. The core personal consumption expenditures price index in August rose 3.6% from a year ago, slightly above estimates and the same as July's increase, which tied a 30-year high. (CNBC)
IN THE NEWS TODAY
Merck and Ridgeback Biotherapeutics plan to seek emergency authorization for their oral antiviral treatment for Covid after announcing "compelling results" in clinical trials. Dow stock Merck surged nearly 9% in Friday's premarket. The drug, molnupiravir, reduced the risk of hospitalization or death by around 50% for patients with mild or moderate Covid cases. (CNBC)
Congress prevented a government shutdown before Thursday's midnight deadline. President Joe Biden signed a bill that funds federal operations through Dec. 3. Passing the so-called continuing resolution avoided one crisis. However, lawmakers still need to deal with another: a looming threat of default unless Congress raises or suspends the debt ceiling before Oct. 18. (CNBC)
Biden failed to break a Democratic stalemate that threatens his domestic agenda. A group of progressive House members and two centrist Democratic senators were still miles apart on key issues late Thursday. House Speaker Nancy Pelosi originally scheduled a vote on a Senate-passed bipartisan $1 trillion infrastructure bill Thursday, but postponed it because it didn't have the votes to pass. (CNBC)
A U.S. Postal Service plan takes effect Friday to slow down some first-class mail deliveries as part of efforts to cut red ink as the U.S. Congress continues to consider a financial relief package for the cash-strapped agency. The new standards revise existing one- to three-day service to one to five days. (Reuters)
Lordstown Motors (RIDE) struck a deal to sell its Ohio plant to Taiwan's Foxconn for $230 million, with Foxconn taking over the manufacturing of Lordstown's full-sized electric pickup truck. It was reported earlier this week that a deal between the two sides was near. Lordstown rallied 6.3% in premarket trading. (CNBC)
* U.S. auto sales forecast to plummet in third quarter as chip shortage plagues industry (CNBC)
About $90.1 million has mistakenly gone out to users of popular DeFi staking protocol Compound after an upgrade gone epically wrong. Now, the founder is making a plea, and issuing a few threats, to incentivize the voluntary return of the platform's crypto tokens. (CNBC)
* El Salvador has just started mining bitcoin using the energy from volcanoes (CNBC)
JetBlue Airways' (JBLU) next challenge in its partnership with American Airlines (AAL) is making sure travelers know whose plane they will be on. JetBlue is revamping its website to more clearly call out services it offers, like free Wi-Fi and snacks, or its business class, Mint, for jointly sold flights. (CNBC)
STOCKS TO WATCH
Zoom Video Communications (ZM) and Five9 (FIVN) have terminated a nearly $15 billion deal by mutual consent. Zoom had struck a deal to buy the contact center operator, but it was rejected by Five9 shareholders. The two sides will continue a partnership that had been in place prior to the proposed transaction. Zoom jumped 4% in the premarket while Five9 slid 1.4%.
Coty (COTY) gained 2% in the premarket as it announced a deal to sell another 9% stake in its Wella beauty business to private equity firm KKR (KKR). In return, KKR will redeem about half its remaining convertible preferred shares in Wella, reducing Coty's stake to about 30.6%. Coty had sold a 60% stake in Wella to KKR last December.
Wells Fargo (WFC) will have to face a shareholder fraud lawsuit involving its attempt to rebound from years of scandals. A judge rejected the bank's moved to have the suit dismissed, saying it was plausible that statements by various Wells Fargo officials about the recovery were false or misleading.
Exxon Mobil (XOM) said in an SEC filing that higher oil and gas prices could boost third-quarter earnings by as much as $1.5 billion. Exxon profits have been improving amid the rising prices as well as cost cuts by the energy giant.
Nio (NIO) reported deliveries of 10,628 vehicles in September, a 126% increase over a year ago for the China-based electric vehicle maker. Nio added nearly 3.5% in the premarket.
CONTRIBUTORS
Matthew J. Belvedere
@Matt_Belvedere
Peter Schacknow
@peterschack
CNBC (Wednesday)
U.S. stocks bounced higher in Wednesday's premarket as the runup in bond yields moderated. The 10-year Treasury yield's spike to three-month highs above 1.567% slammed tech stocks Tuesday. The Nasdaq lost 2.8%. Big Tech and growth names are sensitive to higher rates since their high valuations are based on future growth and cash flow. The S&P 500 lost 2%. The Dow sank 569 points, or 1.6%. With two days left in September, the Dow was down 3%; the S&P 500 was off than 3.7%; and the Nasdaq was nearly 4.7% lower in the historically nasty month for stocks. (CNBC)
* Jeremy Grantham: U.S. stocks are in a 'magnificent bubble,' crazier than 1929 and 2000 (CNBC Pro)
* Cramer says he's keeping new money 'on the sidelines' until the stock sell-off ends (CNBC)
* Evergrande to sell $1.5 billion stake in China bank as it faces another bond interest payment (CNBC)
On Wednesday's economic calendar, the National Association of Realtors are out with pending home sales for August at 10 a.m. ET. Economists expect the measure of home contracts signed but not yet closed to rise 1.2% after declining 1.8% in July. (CNBC)
IN THE NEWS TODAY
President Joe Biden canceled a trip to Chicago that was supposed to focus Covid vaccinations so he can stay at the White House on Wednesday to try to build support for his party's $3.5 trillion budget plan. Progress on the Democrats' budget measure could determine when the House votes on the Senate-passed $1 trillion infrastructure bill. Also hanging in the balance is the immediate need to fund the federal government beyond Thursday's fiscal year-end and to raise the nation's debt ceiling. (AP)
* JPMorgan CEO Jamie Dimon cautions a U.S. default would be 'potentially catastrophic' (CNBC)
* Sen. Warren calls Fed Chair Powell a 'dangerous man,' says she will oppose his renomination (CNBC)
United Airlines (UAL) said 593 employees are facing termination for failing to comply with the carrier's Covid vaccination policy, one of the strictest mandates from a U.S. company. More than 96% of United's 67,000-person U.S. workforce complied. The deadline to show proof of vaccination was late Monday. Roughly 2,000 United employees sought exemptions from the mandate for religious or medical reasons. Employees granted exemptions were placed on temporary unpaid leave. (CNBC)
Regulatory clearance of the Pfizer (PFE) and BioNTech (BNTX) vaccine for young children may not come until November, according to a person familiar with the matter, after the companies said they won't ask for the green light for a few weeks. The companies said Tuesday they provided U.S. health regulators with data from a recent study of their vaccine in children 5 to 11. (WSJ)
Lucid (LCID) has started production of its first electric vehicles for customers, with deliveries scheduled to begin late next month. The milestone is crucial for the EV start-up, which debuted on the Nasdaq in July through a SPAC merger. It's viewed as a front-runner to rival Tesla
(TSLA). The top-end Lucid Air Dream Edition will be available in late October, followed by less expensive models. Lucid said it has received more than 13,000 reservations. (CNBC)
Tesla CEO Elon Musk said the U.S. government should steer clear of trying to regulate cryptocurrencies. "It is not possible to, I think, destroy crypto, but it is possible for governments to slow down its advancement," Musk said Tuesday at the Code Conference. Musk has frequently tweets support for digital coins on. Tesla said earlier this year that it bought bitcoin to "maximize returns on our cash." (CNBC)
STOCKS TO WATCH
Micron Technology (MU) reported adjusted quarterly earnings of $2.42 per share, 9 cents above estimates, with the chip maker's revenue also topping Street forecasts. However, its current-quarter forecast fell below consensus, due to computer-making customers facing shortages of other parts, and the stock fell 3.6% in the premarket.
Eli Lilly (LLY) gained 2.2% in premarket trading after Citi upgraded it to "buy" from "neutral." Citi points to valuation following a more than 15% drop in the share price, as well as its above-Street consensus earnings outlook for Lilly following a recent meeting with management.
Netflix (NFLX) rose 1% in the premarket after announcing that it bought videogame maker Night School Studio in a move to diversify its revenue sources. Night School Studio is best known for the supernatural-themed video game "Oxenfree."
Dollar Tree (DLTR) jumped 3.7% in the premarket after the discount retailer increased its share repurchase authorization by $1.05 billion to a total of $2.5 billion.
ASML (ASML) raised its annual sales outlook and the maker of semiconductor manufacturing equipment said it would see 11% annual growth through 2030 as demand for its products booms. The stock added 1% in the premarket.
AbbVie (ABBV) won FDA approval for its once-daily oral migraine treatment. The drug known as Qulipta was one of the treatments acquired in AbbVie's $63 billion purchase of Allergan last year.
Sherwin-Williams (SHW) cut its third-quarter guidance with the paint maker pointing to raw-material shortages and higher input costs. It said it no longer expects to see improved supply or lower prices for raw materials during the fourth quarter as it had previously projected. Sherwin-Williams fell 2% in premarket action.
Affirm Holdings (AFRM) said it will offer a debit card as well as allow customers to execute cryptocurrency transactions directly from savings accounts. Affirm shares jumped 3.6% in the premarket.
Cal-Maine Foods (CALM) rallied 4.4% in premarket trading after it reported a smaller-than-expected loss for its latest quarter. The egg producer's revenue topped Street forecasts as it benefited from higher egg prices.
Warby Parker (WRBY) on Wall Street today, going public via a direct listing at a reference price of $40 per share. That gives the eyewear maker an initial valuation of nearly $5 billion.
CONTRIBUTORS
Matthew J. Belvedere
@Matt_Belvedere
Peter Schacknow
@peterschack
CNBC (last Monday)
U.S. stock futures were under pressure Monday after the Dow Jones Industrial Average and the S&P 500 eked out gains Friday for a third straight session of advances in a week of wild swings. The Nasdaq dipped Friday, breaking a three-day winning streak. (CNBC)
While they were higher last week, all three stock benchmarks were running more than 1% declines for historically rough September with four days left in the month. The Dow and Nasdaq were more than 2% from their most recent record closes. The S&P 500 was 1.8% shy of its latest record close. (CNBC)
Bond prices fell Monday, pushing the yields on the 10-year and 30-year Treasurys to over 1.5% and 2%, respectively, to levels last seen in July. Yields move inversely to bond prices. August durable goods orders, out before the opening bell, were much stronger than expected. (CNBC)
Fed Chairman Jerome Powell is scheduled to testify before the Senate on Tuesday and the House on Thursday. He also appears on a ECB panel with other central bank leaders Wednesday. The Fed soothed markets last week by signaling no immediate intentions of removing Covid-era monetary stimulus policies. (CNBC)
* Cramer's week ahead: 'We're now headed into a calm before the storm moment here' (CNBC)
Investors will also be watching Congress this week, as lawmakers attempts to pass a funding plan in time to avert a government shutdown on Friday. The debt ceiling is expected to be part of that debate, but strategists do not expect it to be resolved at the same time. (CNBC)
As for the $1 trillion bipartisan infrastructure bill, House Speaker Nancy Pelosi expects it to be passed this week. However, voting may be pushed back from Monday's promised deadline. The Senate has already passed the measure. (CNBC)
IN THE NEWS TODAY
Facebook (FB) announced Monday morning it's pausing its work on Instagram for kids, after facing a slew of backlash from users and lawmakers. "While we believe building 'Instagram Kids' is the right thing to do, Instagram, and its parent company Facebook, will re-evaluate the project at a later date," the company said in a statement. The kids app was supposed to allow children under 13 to access a new version of the photo-sharing social media service. (CNBC)
Alphabet's (GOOGl) Google is reducing the amount of revenue it keeps when customers buy software from other vendors on its cloud marketplace, as the top tech companies face increasing pressure to lower their so-called take rates. The Google Cloud Platform is cutting its revenue share to 3% from 20%, according to a person familiar with the matter who asked not be named in order to talk about internal policies. (CNBC)
Elon Musk reassured Tesla's (TSLA) commitment to China, saying the eclectic vehicle maker will continue to expand its investments there. Musk's comments came in a recorded Q&A-style stream at the World Internet Conference, hosted by the Cyberspace Administration of China. It's the second time this month Musk was highly complimentary of China, which is an important market for Tesla. (CNBC)
Boston Fed President Eric Rosengren announced Monday he's stepping down from his position, retiring nine months earlier than he had planned due to health concerns. In an announcement that comes on the heels of controversy the regional Fed leader had faced regarding personal stock trading, Rosengren revealed that he has been on a kidney transplant list since June 2020. (CNBC) (MiamiGent Note: Health, my ass- he's recently been exposed for trading big time while enjoying inside Fed information. Public Service used to be a noble thing)
Britain could bring in the army to deliver gasoline after a weekend of panic buying left gas stations around the country without fuel. A major lack of truck drivers has meant deliveries of fuel and goods have recently fallen short in Britain. (CNBC)
* Pfizer CEO Albert Bourla predicts normal life will return within a year (CNBC)
STOCKS TO WATCH
Special purpose acquisition company Gores Guggenheim (GGPI) will take electric car maker Polestar public through a merger, at a valuation of $20 billion including debt. Polestar is controlled by car maker Volvo and its parent Zhejiang Geely Holding Group. Gores rose 2.4% in premarket trading.
Acceleron Pharma (XLRN) is in talks to be acquired by an unidentified large pharma company for a premium of about $180 per share, Bloomberg reported. Bristol-Myers Squibb (BMY) is considered one potential candidate, as it already owns an 11.5% stake in Acceleron.
Toyota Motor (TM) rose 1.3% in the premarket after the company said it had completed a 25.8 million share buyback.
Gannett (GCI), the company behind The USA Today, said it was seeking to refinance up to $550 million in senior secured debt. Gannett said its plan was subject to market conditions and that there is no assurance it will be able to execute the refinancing.
CONTRIBUTORS
Matthew J. Belvedere
@Matt_Belvedere
Peter Schacknow
@peterschack
I like GM. It’s cheap. It held up very well today.
AFRM had a pullback today, but it topped out at 133 last week.
Choppy market.
Senate GOP blocks bill that would fund government and suspend debt limit, as time runs short to avoid shutdown and default
https://www.cnbc.com/2021/09/27/government-shutdown-senate-republicans-block-funding-debt-ceiling-bill.html
CNBC (Thursday)
Dow futures rose Thursday, one day after the 30-stock average and the S&P 500 broke four-session losing streaks. The Nasdaq rose for the second straight day. All three stock benchmarks added 1% as investors looked past the troubles at Chinese property giant China Evergrande Group and took comfort in signaling from the Fed that it had no immediate intentions of removing U.S. monetary stimulus policies. (CNBC)
Wednesday's gains put a dent in Monday's plunge and the slide in September, which historically has been a rough month on Wall Street. The Dow was off nearly 4% from last month's record close. The S&P 500 and Nasdaq were off about 3% from their latest record closes earlier this month. (CNBC)
The U.S. government's weekly look at initial jobless claims unexpectedly rose to 351,000. Economists had expected a decline in new claims for week ended Sept. 18 to near Covid pandemic lows of 320,000. The prior week was revised higher to 335,000. (CNBC)
After its two-day September meeting, the Fed on Wednesday provided its quarterly economic projections. Officials see the nation's unemployment rate falling to 4.8% this year from the current 5.2%. The June estimate was for a year-end rate of 4.5%. (CNBC)
The Fed's forecasts also decreased numbers for U.S. growth and increased inflation expectations. Against that backdrop, the Fed left near-zero interest rates unchanged Wednesday afternoon. But most members now see the first interest rate increase in 2022. The Fed gave no timetable for tapering its bond purchases. (CNBC)
IN THE NEWS TODAY
Chinese authorities have told local officials to prepare for a potential collapse of heavily indebted Evergrande, The Wall Street Journal reported Thursday. Local officials described the signals from Chinese authorities as "getting ready for the possible storm" and said the government told them they should step in only at the last minute to prevent spillover effects, according to the Journal.
Investors are bracing for an imminent report from SEC Chair Gary Gensler on the GameStop, Robinhood and Reddit saga, as well as his recommendations on what, if any, changes should be made in the U.S. trading system. Gensler has told Congress his staff has been looking into both issues and promised a report by the end of summer. (CNBC)
The CDC may vote Thursday on the FDA's decision to authorize a Pfizer Covid booster shot for people 65 and older as well as other vulnerable Americans six months after they complete their first two doses. If the CDC approves, booster shots for those groups could begin immediately. But that would not go as far as the Biden administration's push to offer boosters to the general public as early as this week. (CNBC)
* Pfizer booster shouldn't be for Moderna, J&J vaccine Recipients, says FDA official (WSJ)
* Average daily U.S. Covid deaths climb above 2,000 for the first time since March (CNBC)
The Environmental Protection Agency is sharply curbing the use and production of hydrofluorocarbons, the climate-warming chemicals widely used in air-conditioning and refrigeration. The move is the Biden administration's first major regulatory action to reduce domestic greenhouse gas emissions. (CNBC)
In the continuing trial of former Theranos CEO Elizabeth Holmes on fraud charges, former U.S. Defense Secretary General James Mattis testified Wednesday that as a board member at the company he was "frankly amazed" at what was possible at first but later became disillusioned. Mattis, a retired four-star general, served on Theranos' board from 2013 until December 2016. (CNBC)
* Holmes texts reveal she described herself as best business person of the year (CNBC)
The National Labor Relations Board will hold a hearing next Wednesday to review charges that Amazon (AMZN) illegally retaliated against two of its most outspoken internal critics when it fired them last year, according to a filing. The NLRB in April found merit to the workers' complaint that Amazon engaged in unfair labor practices. (CNBC)
STOCKS TO WATCH
Darden Restaurants (DRI), the Olive Garden parent, reported earnings of $1.76 per share, higher than the $1.64-per-share forecast. The restaurant company also reported same-store sales that rose 47.5%, topping estimates. Shares rose 3% in premarket trading.
BlackBerry (BB) reported better-than-expected quarterly earnings, with an adjusted gross margin of 65%. BlackBerry reported a loss of 6 cents per share, compared with the expected loss of 7 cents per share, according to Refinitiv. Revenue came in at $175 million, topping estimates of $164 million. Shares rose more than 7% premarket.
Salesforce (CRM) raised its full-year 2022 revenue guidance to between $26.25 billion and $26.35 billion. This is higher than the company's previous estimate of revenue between $26.2 billion and $26.3 billion. Analysts expected $26.31 billion. Shares rose 2% in premarket trading.
KB Home (KBH) rose in premarket trading despite missing top and bottom-line estimates. KB Home reported quarterly earnings of $1.60 on revenue of $1.47 billion. Wall Street expected earnings of $1.62 per share on revenue of $1.57 billion, according to Refinitiv.
Morgan Stanley initiated coverage of air taxi start-up Joby Aviation (JOBY) with an overweight rating, saying in a note to clients Thursday that investors should take a look at a stock with major potential upside. Joby popped more than 5% in extended trading.
Biogen (BIIB) rose in premarket trading after Needham initiated coverage of the stock with a buy rating, saying in a note to clients on Wednesday that the company's controversial Alzheimer's drug Aduhelm will be a big seller for the company long term.
Roku (ROKU) rose 2% in premarket trading after Guggenheim upgraded the stocks to buy from neutral. The Wall Street firm assigned Roku a 12-month price target of $395, implying a 22% one-year return.
SoFi (SOFI) rose in premarket trading after gaining 11% during the regular session on Wednesday. Sofi is the sixth most-mentioned stock on Reddit's WallStreetBets, according to quiver quant.
Accenture (ACN) rose in extended trading after reporting better-than-expected earnings. The company also increased its dividend and buyback authorization.
CONTRIBUTORS
Matthew J. Belvedere
@Matt_Belvedere
CNBC (Friday)
U.S. stock futures fell Friday, marking a key date, Sept. 17, that has historically ushered in a rough patch for the market in an already traditionally tough month. The Dow Jones Industrial Average declined Thursday, though it ended way above session lows. The S&P 500 dipped as well, while the Nasdaq bucked the trend and rose slightly. (CNBC)
Despite the September angst, all three benchmarks were tracking for weekly gains. Ahead of Friday's open, the Dow, S&P 500 and Nasdaq weren't too far from their recent record closes about 2.5%, 1.4%, and 1.3% away respectively. (CNBC)
Coinciding with seasonal factors stacked against Wall Street, it's also "quadruple witching" Friday, the simultaneous expiration of stock options, index options, stock futures and index futures. The Fed holds its policy meeting next week, leaving investors already on edge this month to read the tea leaves on tapering. (CNBC)
Fed Chairman Jerome Powell has called for a review of the central bank's ethics rules for appropriate financial activities after disclosures that several senior Fed officials held significant investments and others made multimillion-dollar stock trades in 2020. (CNBC)
STOCKS TO WATCH
Invesco (IVZ) is in talks to merge with State Street's (STT) asset management unit, according to people familiar with the matter who spoke to the Wall Street Journal. Those sources said a deal is not imminent and might not happen at all. Invesco shares surged 6.5% in the premarket, while State Street edged up 0.6%.
Softbank's Vision Fund sold 57 million shares of South Korean online retailer Coupang (CPNG) for nearly about $1.7 billion, according to an SEC filing.
Unum (UNM) is launching a new digital verification tool designed to help companies manage vaccine mandates. The insurer's product allows workers to report vaccination status and upload documentation as well as helping companies manage exemptions.
Eli Lilly (LLY) won FDA approval for expansion of the emergency use authorization for its Covid treatment. The treatment can now be used in patients who could have a high risk of infection after being exposed to someone with Covid.
General Motors (GM) plans to extend downtime at seven North American factories as the worldwide semiconductor shortage continues to crimp production.
U.S. Steel (X) is planning to build a new U.S. steel mill, with construction beginning next year and production planned to kick off in 2024. The move comes amid booming demand for steel as well as prices that have roughly quadrupled since the summer of 2020. Shares fell 2.1% in the premarket.
Zumiez (ZUMZ) rose 1% in premarket trading after the streetwear and sports apparel company announced a $150 million stock buyback program.
Diamondback Energy (FANG) announced an accelerated capital return plan and approved a $2 billion stock buyback. Diamondback's stock rallied 5% in premarket trading.
CONTRIBUTORS
Matthew J. Belvedere
@Matt_Belvedere
Peter Schacknow
@peterschack
Thanks Lizzy
AFRM is still going…
I like it for the long run, even though it’s had a meteoric rise already. Check it out.
CNBC
U.S. stock futures were flat Wednesday, one day after the Dow gave up gains at the open and closed down 292 points, or 0.8%, its sixth down day in the past seven sessions. The S&P 500 on Tuesday also saw its sixth decline out of the past seven sessions as the rough September on Wall Street continued. Both benchmarks were on track for their largest monthly declines since October. The Nasdaq fell for the fifth straight session Tuesday. (CNBC)
* Cramer sees few reasons to buy stocks right now. stays cautious on market (CNBC)
A bright spot in Wednesday's premarket was Microsoft (MSFT). The Dow stock and big Nasdaq name rose more than 1% after it announced an 11% dividend hike and a $60 billion stock buyback program. Microsoft also appointed company President Brad Smith as vice chairman. (Reuters)
Wynn Resorts and Las Vegas Sands tumbled in premarket trading, after dropping roughly 10% on Tuesday, as Macao began a 45-day period of considering tighter regulations on the gaming industry. Those U.S. casino stocks have operations in the Chinese special administrative region. Hong Kong-listed shares of Wynn Macau and Sands China tanked about 30% overnight. (CNBC)
IN THE NEWS TODAY
Regeneron Pharmaceuticals (REGN) announced that the U.S. government would buy an additional 1.4 million doses of Regeneron's Covid-19 antibody cocktail. That will bring the total number of doses purchased by the government to nearly 3 million. Regeneron rose 1.8% in premarket trading. (Reuters)
Yum China (YUMC) warned that the spread of the delta variant would result in a 50% to 60% hit to its third-quarter profit. The restaurant operator said it had to close or limit service at more than 500 restaurants in August due to the delta variant outbreak in China. Yum China shares tumbled 4.8% in the premarket. (Reuters)
Four amateur space travelers, led and paid for by e-commerce billionaire Jared Isaacman, was set for liftoff Wednesday night abroad a rocket ship from Elon Musk's SpaceX. They would become the first all-civilian crew launched into Earth's orbit. Earlier this summer, Virgin Galactic's Richard Branson and Blue Origin's Jeff Bezos went into space. Musk has not gone into space yet. (Reuters)
Walmart (WMT) is expanding its self-driving vehicle program to include Ford (F) and Argo AI, an autonomous car start-up backed by the automaker. The companies said Wednesday the collaboration will use Ford Escape hybrids with Argo AI technology for Walmart deliveries in Miami, Washington, D.C., and Austin, Texas. (CNBC)
STOCKS TO WATCH
Weber (WEBR) jumped 3.8% in the premarket, following its first quarterly report since going public in August. The grill maker sales rose 19% from a year earlier, and the company projected full-year sales largely above current Wall Street forecasts.
Canadian National Railway (CNI) will not improve its offer to buy Kansas City Southern (KSU), according to people familiar with the situation who spoke to CNBC's David Faber. That would clear the way for Canadian Pacific Railway (CP) to buy Kansas City Southern.
Citrix Systems (CTXS) is working with advisers to consider a possible sale of the company, according to people familiar with the matter who spoke to Bloomberg. The maker of workplace software will gauge potential interest in the company over the next few weeks and could decide to remain independent. Citrix rallied 4.4% in the premarket.
Crocs (CROX) added 1% in premarket trading following Tuesday's 8.5% gain. That came after the shoe maker's Investor Day where it projected better-than-expected full-year revenue and announced an accelerated share repurchase program.
Skillsoft (SKIL), a provider of corporate digital learning programs, jumped 4.5% in the premarket after reporting better-than-expected revenue and bookings for its latest quarter as well as raising its full-year guidance.
European delivery giant Just Eat Takeaway (GRUB) slid 3.2% in premarket trading after Amazon (AMZN) and Deliveroo announced a partnership that will offer free food delivery in the U.K. to Amazon Prime members. Just Eat Takeaway closed its purchase of U.S.-based GrubHub in June.
Sage Therapeutics (SAGE) rallied 5.7% in the premarket after the FDA granted fast-track status to the company's experimental treatment for Huntington's disease. Sage expects to start a phase 2 trial for the treatment before the end of 2021.
SoFi Technologies (SOFI) added 2.8% in premarket action after Mizuho began coverage with a "buy" rating and a $28 price target compared with Tuesday's close of $14.50. Mizuho said SoFi is becoming a "full-fledged, super-app neo-bank" with next-generation capabilities.
CONTRIBUTORS
Matthew J. Belvedere
@Matt_Belvedere
Peter Schacknow
@peterschack
CNBC (yesterday)
The Dow Jones Industrial Average was set to open nearly 200 points higher Monday, bouncing after five straight sessions of losses. S&P 500 and Nasdaq futures were also pointing to a broad-based rally as a recent resurgence of Covid cases due to the delta variant appears to moderating. (CNBC)
All three stock benchmarks finished lower Friday, with the S&P 500 also down five sessions in a row. The Nasdaq logged its third consecutive negative session. For the week, the Dow and S&P 500 dropped almost 2.2% and 1.7%, respectively, their worst weeks since June. The Nasdaq posted its worst week since July, sliding 1.6%. (CNBC)
IN THE NEWS TODAY
House Democrats are expected to propose sweeping tax increases on U.S. companies, wealthy Americans and investors to help pay for their $3.5 trillion budget bill. The plan calls for a corporate tax hike rate to 26.5% from 21% and a 3% surtax on individual income above $5 million, according Reuters, citing two people familiar with the matter. Democrats are also considering raising the top capital gains tax rate to 28.8% from 23.8%.
Tropical Storm Nicholas was strengthening just off the Gulf Coast and could make landfall in Texas as a hurricane Monday as it brings heavy rain and floods to coastal areas from Mexico to storm-battered Louisiana. Nicholas is headed toward the same area of Texas that was hit hard by Hurricane Harvey in 2017. (AP)
U.S.-based Pfizer's Covid vaccine, developed in conjunction with German partner BioNTech, could be authorized for use in kids 5-11 as soon as next month, according to two sources familiar with the situation who spoke to Reuters. Pfizer is expected to have enough study data by then to submit an application for emergency use to the FDA. The two-dose Pfizer shot is already on emergency use for adolescents 12-15 and full approval for people 16 and older. (Reuters)
Hong Kong-listed shares of Alibaba dropped more than 4% overnight after a Financial Times report that Beijing wants to break up Ant Group's Alipay and force the creation of a separate loans app. U.S. shares of Alibaba (BABA), Ant Group's e-commerce affiliate, were also under pressure in Monday's premarket. Chinese electric vehicle stocks also dropped after the industry minister said there are "too many" EV makers in China and that consolidation in the sector is needed. (CNBC)
Disney (DIS) will show the remainder of its slate of movies this year exclusively in theaters, rather than making them simultaneously available on its Disney+ streaming service. Disney's "Shang-Chi And The Legend Of The 10 Rings," only in theaters, topped the weekend box office once again following its record Labor Day weekend debut. "Shang-Chi," in the Marvel Cinematic Universe, has grossed nearly $250 million globally, and it doesn't even have a release date in China yet. (AP)
SkyBridge Capital's Anthony Scaramucci is stepping up his firm's move into the cryptocurrency world. The firm is teaming up with trading platform NAX to raise $250 million for a fund. A formal announcement on the initiative will happen Monday morning at SkyBridge's SALT conference, which will be held for the first time in New York City. (CNBC)
* MoneyLion launches crypto investing ahead of planned SPAC deal (CNBC)
STOCKS TO WATCH
Virgin Galactic (SPCE) is delaying its first commercial research space mission after a third-party supplier warned of a potential defect in a component of the flight control system. Virgin Galactic shares slid 3.4% in the premarket.
Dell Technologies (DELL) added 2% in premarket action after Goldman Sachs added the computer maker's stock to its "Conviction Buy" list. Goldman cited strong cash flow generation and debt paydown plans, among other factors.
TransUnion (TRU) announced a deal to buy closely held information services company Neustar for $3.1 billion in cash. The credit reporting agency expects the deal to close during the fourth quarter.
Viacom (VIAC) Is planning a revamp of its Paramount Pictures unit, according to people familiar with the matter who spoke to The Wall Street Journal. The revamp, which would separate the TV and film operations, could be announced as soon as today. Viacom rose 1% in the premarket.
Kansas City Southern (KSU) said the latest takeover bid from Canadian Pacific Railway (CP) is superior to the one it previously agreed to with Canadian National Railway (CNI). Canadian National now has five days to improve its offer, should it choose to do so. Canadian Pacific rallied 2.1% in premarket trading.
Epic Games will appeal Friday's ruling that Apple's (AAPL) app store was not an illegal monopoly. Epic did win a partial victory in the case, with the judge ruling that Apple must allow developers to include external payment links. Separately, Apple is expected to release its new iPhone and maybe an Apple Watch update at an event this week.
CONTRIBUTORS
Matthew J. Belvedere
@Matt_Belvedere
Peter Schacknow
@peterschack
CNBC
U.S. stock futures were flat Wednesday, one day after the Dow dropped 269 points, or nearly 0.8%, on lingering concerns about the Covid delta variant. The S&P 500 fell for the second straight session from Thursday's record close. The Nasdaq eked out a gain for another record finish. After the bell, meme stock GameStop (GME) is set to release quarterly results. (CNBC)
The 10-year Treasury yield, which moves inversely to price, dropped to 1.35% on Wednesday, ahead of the government's release of its latest JOLTS, Job Openings and Labor Turnover Survey, at 10 a.m. ET. The Federal Reserve is out with its Beige Book survey of economic activity across its 12 districts at 2 p.m. ET. (CNBC)
IN THE NEWS TODAY
Coinbase (COIN) has received notice of a possible enforcement action from the Securities and Exchange Commission related to its interest-earning product, which the company had planned to launch in the coming weeks. The cryptocurrency exchange and services firm received a so-called Wells notice from the SEC a week ago. Shares of Coinbase fell 3% in premarket trading Wednesday. (CNBC)
BlackRock (BLK), the world's largest asset manager, has responded to sharp criticism from billionaire investor George Soros over the firm's investments in China. Soros' comments come after BlackRock said its China mutual fund subsidiary set up its first fund there after raising over $1 billion from more than 111,000 investors. (CNBC)
Amazon (AMZN) said Wednesday it's bringing its automated grab-and-go technology to two Whole Foods stores: one in California, the other in Washington, D.C. Shoppers who want to skip the checkout line can enter the store by either scanning an app, inserting a credit or debit card linked to their Amazon account, or placing their palm over the company's palm-scanning payment system, called Amazon One. (CNBC)
JPMorgan Chase (JPM) said Wednesday it plans to buy a majority stake of close to 75% in Volkswagen's payments business. The U.S. banking giant said the deal would help it expand its digital payment capabilities and enter into the automotive industry for the first time. (CNBC)
Apple (AAPL) sent invitations to the media for its annual September product event. New iPhones are expected. Apple could also release new Apple Watch and AirPods models. The company typically announces new iPhones in September. But last year, due to Covid, Apple announced the iPhone 12 in October. The September event was used to reveal new watches and iPads as well as services. (CNBC)
* AMC attendance surpasses 2019 levels for first time during Covid thanks to Shang-Chi (CNBC)
* Hulu is raising the price of its on-demand plans by a dollar on Oct. 8 (CNBC)
The White House is proposing a stopgap spending measure to fund the government beyond the end of its fiscal year this month. The plan to avoid a government shutdown comes as lawmakers haggle over a bipartisan $1 trillion infrastructure bill and a Democrat-backed $3.5 trillion budget reconciliation package. (CNBC)
To help pay for that $3.5 trillion spending plan, congressional Democrats are floating a slew of taxes, including new levies on the wealthy. A couple of proposals from Senate Finance Committee Chairman Ron Wyden call for so-called mark-to-market taxes on derivatives and carried interest, which may result in levies on gains every year. (CNBC)
STOCKS TO WATCH
Tesla (TSLA) moved 0.7% higher in the premarket after Chinese car sales numbers showed the electric vehicle maker's sales jumping in August from the month prior. Local sales of vehicles made in China jumped to 12,885 cars in August versus 8,621 cars in July, according to the China Passenger Car Association.
Nio (NIO) dropped nearly 3% in early morning trading after the Chinese electric vehicle company announced a $2 billion stock offering. The company said it would use the proceeds to "further strengthen its balance sheet, as well as for general corporate purposes.
Citrix (CTXS) jumped 5.2% in early morning trading after The Wall Street Journal reported activist hedge fund Elliott Management has a more than $1 billion stake in the software company. The fund wants Citrix to work to boost its valuation, according to the report.
PayPal (PYPL) added 1% in premarket trading after the digital payments platform said it would acquire Japanese buy-now-pay-later company Paidy in a deal worth $2.7 billion. The move comes after Square announced in August it would buy Australian BNPL firm Afterpay, and after Amazon announced a partnership with BNPL company Affirm.
Coupa Software (COUP) added 5% after better-than-expected quarterly financial results. Coupa reported earnings of 26 cents per share on revenue of 179.2 million. Wall Street expected a loss of 6 cents per share on revenue of $163 million, according to Refinitiv.
CONTRIBUTORS
Matthew J. Belvedere
@Matt_Belvedere
CNBC
Stock futures were slightly higher Thursday as Wall Street eyed labor market reports that shed insight into the U.S. economic recovery. Dow futures were up by more than 100 points, while futures for the S&P 500 and Nasdaq were also in the green. (CNBC)
Initial jobless claims for the week ended Saturday came in at 340,000, the lowest level since March 2020 when the coronavirus pandemic was in its early days, according to the Labor Department. Economists expected first-time unemployment insurance claims of 345,000, according to Dow Jones estimates. The key August nonfarm payrolls report is due out Friday. (CNBC)
* U.S. trade deficit narrows slightly to $70.1 billion in July (Associated Press)
Signet Jewelers (SIG), Hormel Foods (HRL), American Eagle Outfitters (AEO) and Lands' End (LE) are among the companies that reported earnings before the bell Thursday. After the close, Hewlett Packard Enterprise (HPE), Broadcom (AVGO), MongoDB (MDB), DocuSign (DOCU) and PagerDuty (PD) are set to post quarterly results.
* Here are Thursday's biggest analyst calls of the day: Okta, Five Below, Costco and more (CNBC PRO)
IN THE NEWS TODAY
In a 5-4 decision late Wednesday, the Supreme Court declined to block the implementation of a Texas law that bans most abortions in the nation's second-most populous state. Chief Justice John Roberts joined the high court's three liberals Justices Stephen Breyer, Sonia Sotomayor and Elena Kagan in dissent. (CNBC)
Apple is allowing some apps to provide a link to their websites, where users could then directly register for a paid subscription. The change, which the iPhone maker announced Wednesday, comes as Apple faces intense criticism and regulatory scrutiny for its App Store payment policies. (CNBC)
* Apple announces first states that will let you keep a digital version of your driver's license on your iPhone (CNBC)
States of emergency were issued for New York and New Jersey after they were battered by the remnants of Hurricane Ida, leaving at least eight people dead. Torrential rain flooded streets and homes in the region Wednesday night, and service on many of New York City's subway lines were suspended as water overwhelmed the transportation system. (NBC News)
* Wildfires are putting water supplies at risk, and corporate America is scared (CNBC)
Chinese regulators interviewed 11 ride-hailing companies in the country, including Didi Global (DIDI), over what they claim is "illegal behavior" involving the recruitment of unapproved drivers and vehicles. The development is the latest in a series of regulatory crackdowns from Beijing in recent weeks that has rattled investors. (CNBC)
Burger King is launching its rewards program more broadly across the country, and it's on track to have the loyalty program available in restaurants in two-thirds of its U.S. locations by October. It's part of a push from Restaurant Brands International (QSR) to jolt its U.S. business. Burger King's loyalty program has been available nationwide for mobile orders, as well as those placed through its website. (CNBC)
STOCKS TO WATCH
Hormel (HRL) reported adjusted quarterly earnings of 39 cents per share, matching forecasts, with revenue coming in above estimates. However, the food producer gave a weaker-than-expected full-year outlook, noting the impact of higher costs, although it said price hikes and cost cuts should help its margins moving forward. Hormel fell 3.5% in premarket trading.
Lands' End (LE) beat estimates by 6 cents with quarterly earnings of 48 cents per share and revenue above estimates as well. However, the apparel retailer also said its profit margins would moderate in the back half of its fiscal year due to supply chain challenges, and the stock fell 3% in premarket action.
Hill-Rom Holdings (HRC) agreed to be bought by medical products maker Baxter International (BAX) for $156 per share in cash or about $10.5 billion. It had been reported earlier this week that the two sides were in talks about a potential $10 billion deal. Hill-Rom, a medical equipment maker, gained 3.1% in premarket trading, while Baxter edged higher by 0.7%.
Signet Jewelers (SIG) reported adjusted quarterly earnings of $3.57 per share, well above the consensus estimate of $1.69, with revenue exceeding forecasts as well. Comparable store sales surged 97%, more than the 79.2% increase that analysts were anticipating. The jewelry retailer also raised its full-year outlook, and its stock rallied 5.4% in the premarket.
Chewy (CHWY) tumbled 10.2% in the premarket, following a wider-than-expected quarterly loss and revenue that fell slightly short of estimates. The pet products retailer's adjusted loss of 4 cents per share was twice as wide as analysts had anticipated, with Chewy noting a higher-than-usual level of out-of-stock products. The company also issued a weaker-than-expected outlook.
ChargePoint (CHPT) saw its shares soar 12.3% in the premarket after quarterly sales beat estimates and the electric vehicle charging company raised its full-year revenue guidance. For its most recent quarter, ChargePoint matched Street forecasts with an adjusted loss of 13 cents per share.
Okta (OKTA) posted an adjusted quarterly loss of 11 cents per share, smaller than the 35 cent loss that analysts were anticipating. Revenue came in above estimates, and the identity management software company issued a better-than-expected outlook, but its shares fell 1.5% in the premarket.
C3.ai (AI) tumbled 7.7% in premarket trading after it reported a surprise quarterly loss. The artificial intelligence software provider lost an adjusted 37 cents per share for its latest quarter, compared with analyst forecasts of a 28 cents per share profit, and it also issued a weaker-than-expected current-quarter revenue outlook.
Five Below (FIVE) saw its stock slide 8.6% in the premarket, despite a 4 cent beat with quarterly earnings of $1.15 per share. Five Below's revenue was shy of Street forecasts, and the discount retailer is not giving sales or earnings guidance for the full year due to uncertainties surrounding Covid.
Ciena (CIEN) earned an adjusted 92 cents per share for its latest quarter, beating estimates by 13 cents, while revenue beat estimates as well amid what the company calls "robust demand." Separately, the networking equipment maker announced the acquisition of AT&T's (T) Vyatta virtual routing and switching technology unit. Ciena jumped 6.3% in premarket trading.
CONTRIBUTORS
Peter Schacknow
@peterschack
Kevin Stankiewicz
@kevin_stank
News So Late, It's likely Unactionable!
U.S. stock futures fell slightly steady Tuesday, on the last day of August, with the S&P 500 tracking for a seventh straight monthly gain, its longest monthly winning streak since December 2017. The S&P 500 and Nasdaq again closed at record highs Monday. The Dow fell slightly, sending the 30-stock average to just over 0.6% away from its latest record close earlier this month. The Dow and Nasdaq were also poised for solid gains for August. (CNBC)
Zoom Video Communications shares sank more than 14% in Tuesday's premarket, a drop that would wipe out 2021 gains and then some. While beating estimates with quarterly earnings and revenue, the stock was under pressure on slowing growth from the meteoric levels seen as the Covid pandemic began in 2020. Zoom also delivered forward guidance that basically matched estimates.
Home prices rose 18.6% annually in June, up from the 16.8% increase in May, according to the S&P CoreLogic Case-Shiller national home price index. That is the largest annual gain in the history of the index dating back to 1987. Prices nationally are now 41% higher than their last peak during the housing boom in 2006. (CNBC)
IN THE NEWS TODAY
South Korea's parliament passed a bill Tuesday to curb the payment policies of Apple and Alphabet's Google that force developers to only use the tech giants' proprietary billing systems. The measure, when signed into law, will make South Korea the first country to go after major app store operators, which can charge commissions as high as 30% on in-app transactions. (CNBC)
President Joe Biden plans to address the nation Tuesday afternoon about his decision not to prolong the U.S. mission in Afghanistan. The U.S. has finished its evacuation efforts from Kabul's airport, effectively ending America's longest war. The nearly two-decade conflict began not long after the Sept. 11, 2001 terrorist attacks. In the final weeks of the U.S. troop and diplomatic withdrawal from Afghanistan, the civil government fell to the Taliban. (CNBC)
Power outages from Hurricane Ida could take weeks to fix in some parts of Louisiana, according to officials. Ida ravaged the region's power grid, leaving the entire city of New Orleans and hundreds of thousands of other Louisiana customers in the dark. Power outages and widespread flooding slowed efforts Tuesday by energy companies to assess damages at oil production facilities, ports and refineries, many of which were shuttered ahead of the storm. (AP)
A wildfire swept toward Lake Tahoe on Tuesday, hours after the entire California resort city of South Lake Tahoe was ordered to evacuate. Communities just across the state line in Nevada were warned to get ready to leave. The threat of fire is so widespread in the region that the U.S. Forest Service announced Monday that all national forests in California would be closed until Sept. 17. (AP)
A CDC scientist said Monday the data needed to properly evaluate Covid vaccine boosters for the general population is limited; even as the president pressures health officials to clear the additional shots for wide distribution beginning the week of Sept. 20. The CDC emphasized that vaccinating the unvaccinated should be a "top priority," adding that delivery of booster doses to vaccinated individuals should not deter outreach to those who remain unprotected from the virus. (CNBC)
Moderna's (MRNA) Covid vaccine produced more than twice the number of antibodies as the Pfizer (PFE) vaccine, according to a study published by the Journal of the American Medical Association. Moderna rose 1.4% in the premarket. Shares had been under pressure recently after the suspension of 1.63 million doses in Japan on contamination concerns. (MarketWatch)
Elizabeth Holmes, founder and ex-CEO of Theranos, goes on trial on allegations of defrauding investors and patients. Jury selection begins on Tuesday in San Jose federal court. Holmes, a one-time billionaire on paper, is facing 10 counts of wire fraud and two counts of conspiracy. She pleaded not guilty. (CNBC)
STOCKS TO WATCH
Robinhood (HOOD) fell another 2.8% in premarket trading, following a 6.9% Monday tumble. The trading platform operator saw its stock pressured after CNBC reported that PayPal (PYPL) was exploring the launch of its own stock trading platform, as well as SEC Chairman Gary Gensler's comment that a ban of payment for order flow, which constitutes the bulk of Robinhood's revenue, was "on the table."
Designer Brands (DBI), The footwear retailer formerly known as DSW, reported quarterly earnings of 56 cents per share, compared to a 24 cents a share consensus estimate. Revenue was well above Wall Street forecasts. Comparable-store sales surged 84.9%, more than the 62.2% increase forecast by analysts surveyed by StreetAccount. Its shares surged 7.5% in premarket trading.
Chico's FAS (CHS) shares rallied 4.5% after the company reported an unexpected quarterly profit. Chico's earned 21 cents per share, compared to consensus estimates of an 8 cents per share loss. Revenue was also well above estimates. Chico's said the results represented the company's best second quarter in eight years.
Russian technology company Yandex (YNDX) announced a deal to buy out Uber Technologies' (UBER) interest in several food delivery and ride-hailing joint ventures for $1 billion. Uber was little changed in the premarket, but Yandex gained 1.2%.
Virgin Galactic (SPCE) gained 3.3% in the premarket after Jefferies initiated coverage on the space travel company with a "buy" rating. Jefferies notes an expected ramping up in capacity by Virgin Galactic as well as rapidly growing demand.
Square (SQ) plans to offer a new paid version of its invoicing software called Invoices Plus, according to announcements shared with some sellers and seen by TechCrunch. The new service will offer some advanced features that had been tested over the past year in limited trials.
CONTRIBUTORS
Matthew J. Belvedere
@Matt_Belvedere
Peter Schacknow
@peterschack
CNBC
U.S. stock futures rose slightly Monday after the S&P 500 and Nasdaq closed at record highs Friday. The S&P 500 ended above 4,500 for the first time ever. The Dow's rally brought it to within 0.5% of its record close on Aug. 16. Stocks rallied Friday after Fed Chairman Jerome Powell signaled that central bankers are in no rush to raise interest rates. He said decision-making on rate hikes is on a different track than tapering bond purchases, which he acknowledged could start this year. (CNBC)
With two days left in August, the Dow was up nearly 1.5%, the S&P 500 was 2.6% higher and the Nasdaq was up 3.1%. Whether Wall Street's gains can continue may depend on the government's latest monthly employment report, which is set for release on Friday. While saying the Fed has seen sufficient progress on inflation, Powell said the labor market has not yet improved enough to start the tapering. (CNBC)
IN THE NEWS TODAY
U.S. oil prices fell modestly early Monday after surging 10.6% for their strongest week in more than a year. Gasoline prices rose over 1% after Ida made landfall Sunday in Louisiana as a Category 4 hurricane. More than 1 million Louisiana customers were without power, including the entire city of New Orleans. Ida came ashore 16 years to the day after Hurricane Katrina. In advance of Ida, more than 95% of U.S. Gulf of Mexico crude oil production was shuttered. Many refineries were also closed. (Reuters & CNBC)
* Colonial Pipeline halts gasoline deliveries to the U.S. East Coast due Ida (Reuters)
Senior Biden administration officials said the U.S. has the capacity to evacuate some 300 U.S. citizens remaining in Afghanistan who want to leave before the president's Tuesday deadline for pulling out American forces from the war-torn country. The evacuations turned chaotic as the U.S. government was caught by surprise when the Afghan army collapsed and the Taliban swept back to power Aug. 15. (CNBC)
* Rockets target U.S. troops as Afghanistan withdrawal enters final stage (Reuters)
* U.S. drone strikes an ISIS-K vehicle packed with explosives in Kabul (CNBC)
Moderna (MRNA) fell 2.7% in the premarket after 1 million more Covid-19 vaccine doses were pulled from circulation in Japan on contamination concerns. An initial withdrawal of 1.63 million doses had taken place last week after foreign substances were found in some batches, with contamination now linked to two deaths. Spain's Rovi, which bottles the does for markets outside the U.S., said it's investigating. (Reuters)
Cases in Israel, a barometer of U.S. trends, saw daily infections reach a pandemic high of more than 12,100. Just months ago, after an aggressive national vaccine drive, new cases in Israel had fallen to double digits. Around 63% of the Israeli population has been fully vaccinated. In the U.S., 52.3% of the population has been fully vaccinated. (CNBC)
The seven-day average of new daily Covid cases in the U.S. rose 5% to 155,277 as of Sunday. Over than same period, daily Covid deaths averaged 1,290. That's an increase of 29% over the prior week, fanned by the delta variant. (JHU)
In a bombshell revelation just days before her criminal fraud trial, defense attorneys for Elizabeth Holmes claim she's suffered a "decade-long campaign of psychological abuse" from her former boyfriend and business partner Ramesh "Sunny" Balwani. Both have pleaded not guilty and deny any wrongdoing. (CNBC)
The driver of a 2019 Tesla Model 3 told officers she was using Autopilot, Tesla's (TSLA) advanced driver assistance system, when she collided with a police car and a Mercedes SUV Saturday morning around 5 a.m. ET in Orlando, Florida. No injuries or fatalities were reported. (CNBC)
CVS Health (CVS) is betting Americans will get therapy at the same place they buy their snacks, soda and prescription drugs. The pharmacy company is among several retailers including Walmart (WMT) and Walgreens (WBA) experimenting with offering counseling services in or near stores. (WSJ)
STOCKS TO WATCH
Satellite services provider Globalstar (GSAT) soared 41% in the premarket following a report in AppleInsider that the iPhone 13 will have the ability to utilize satellite communications.
Li Auto (LI) reported a smaller-than-expected loss and revenue that exceeded analysts' forecasts for its latest quarter. The China-based electric vehicle maker also said it delivered 17,575 vehicles during the quarter, a 166% increase over a year earlier. Li Auto shares gained 2.3% in premarket trading.
Hill-Rom (HRC) is in advanced talks to be acquired by health-care products maker Baxter International (BAX), according to people familiar with the matter who spoke to The Wall Street Journal. The potential deal for the medical equipment maker is about $10 billion or $150 per share, compared to Hill-Rom's Friday close of $132.90. Hill-Rom rallied 8.7% in the premarket.
Contract drug manufacturer Catalent (CTLT) struck a deal to buy nutritional supplement maker Bettera from private-equity firm Highlander partners for $1 billion. Separately, Catalent reported better-than-expected earnings and revenue for its fiscal fourth quarter, and the stock jumped 2% in the premarket.
Support.com (SPRT) surged 46% in the premarket after the provider of technical support saw its stock rise for the past seven sessions in a row and jump 223% over that stretch. There has been no news of significance from the company over that stretch.
CONTRIBUTORS
Matthew J. Belvedere
@Matt_Belvedere
Peter Schacknow
@peterschack
CNBC
U.S. stock futures rose ahead of Federal Reserve Chairman Jerome Powell's speech Friday morning at the central bank's annual economic summit, held virtually for a second year due to Covid. One day after record closes, the S&P 500 and Nasdaq on Thursday snapped five-session winning streaks. The Dow also declined, ending four straight sessions of gains and moving the 30-stock average more than 1% away from last week's record close. (CNBC)
The Fed's favorite inflation gauge is out at 8:30 a.m. ET. Economists expect the July personal consumption expenditures price index to increase 3.6% year over year, just about the same amount as the prior month. Rising inflation has been a concern in markets. Powell has said in the past that while prices pressures are mounting, they're transitory. (CNBC)
U.S. oil prices, on track for strong weekly gains, rose about 1.5% early Friday on concerns about near-term supply disruptions as energy companies began shutting down production in the Gulf of Mexico ahead of a potential hurricane forecast to hit this weekend. Gulf of Mexico offshore wells account for 17% of U.S. crude oil production. (Reuters)
* Southwest to cut fall flights following a tough summer (WSJ)
Shares of Peloton (PTON) fell about 7.5% in the premarket as investors grappled with a slew of bad news. On Friday, the company said it's been subpoenaed by the DOJ and DHS over reporting of treadmill injuries. Late Thursday, the fitness equipment maker posted disappointing quarterly results and outlook. It also cut the price of its original bike. (CNBC)
IN THE NEWS TODAY
The U.S. and its allies have warned that more terrorist attacks in Kabul are likely, as Tuesday's deadline for military withdrawal from Afghanistan draws near. Two suicide bombers struck on Thursday near Hamid Karzai International Airport in Kabul, where thousands of people are still hoping to be evacuated following the Taliban's takeover of the country. Thirteen U.S. servicemembers were among the more than 100 killed in the attacks. (CNBC)
* Cramer explains why the tragic events in Afghanistan are not really impacting Wall Street (CNBC)
President Joe Biden vowed on Thursday to complete the evacuations and hunt down leaders of ISIS-K, which claimed responsibility for the bombings. The president said, "We will not forgive. We will not forget. We will hunt you down and make you pay." He added, "I'll defend our interests and our people with every measure in my command." (CNBC)
New daily Covid cases are still on the rise in the U.S., climbing to their highest levels since January to a seven-day average of nearly 156,000. That's a 10% increase from the prior week. The seven-day average of daily new Covid deaths was 1,194. That's 39% higher than the prior week. (CNBC)
The pace of infections, however, is showing signs of slowing, especially in some states hit hardest by the delta variant. The U.S. has seen a handful of case peaks throughout the pandemic. They peaked at a seven-day average of 251,000 per day in January. The curve in nationwide hospitalizations may be also bending as growth in admissions appears to be slowing. (CNBC)
The Supreme Court late Thursday blocked the CDC from enforcing a federal moratorium on evicting renters during the Covid pandemic, a defeat for the Biden administration's effort to continue the moratorium despite an earlier signal from the court that the government's action lacked the proper legal basis. (NBC News)
Apple (AAPL) will allow app developers to email their users about alternative purchase options, in a major change to App Store policies. App makers want to contact their customers directly to encourage them to pay directly and avoid Apple's App Store fees, which range from 15% to 30% of gross sales. (CNBC)
* CEO Tim Cook receives over 5 million shares of Apple stock worth $750 million (CNBC)
Microsoft (MSFT) on Thursday warned thousands of its cloud computing customers, including some of the world's largest companies, that intruders could have the ability to read, change or even delete their main databases, according to a copy of the email and a cyber security researcher. (Reuters)
Tesla (TSLA) filed an application with the Texas Public Utility Commission to sell electricity in the state. The application follows the start of a big battery build out by Tesla near Houston. Tesla has also built several utility-scale energy storage systems around the world, including two in California and two in Australia. (CNBC)
Johnson & Johnson (JNJ) will be allowed to separate its talc-related liabilities from the rest of its business after a judge declined to prohibit the company from doing so. Personal injury lawyers had sought to prevent the move, fearing that it could put thousands of claims into bankruptcy. (Reuters)
STOCKS TO WATCH
Gap (GPS) reported adjusted quarterly earnings of 70 cents per share, beating the 46 cents consensus estimate, and the apparel retailer's revenue was also above Wall Street forecasts. Gap also raised its full-year guidance, largely on the strength of its Old Navy and Athleta brands. The stock rallied 8.5% in premarket trading.
Big Lots (BIG) shares tumbled 9.5% in premarket trading after it missed top and bottom-line estimates for its latest quarter. Big Lots earned $1.09 per share, 3 cents shy of analyst forecasts, and its comparable store sales slid a greater-than-expected 13.2%. The company also said it was hit by supply chain issues and inflation pressures.
Hibbett Sports (HIBB) jumped 6% in the premarket after reporting better-than-expected sales and profit for its latest quarter, and raising its full-year forecast. Hibbett earned $2.86 per share, almost double the $1.44 consensus estimate.
Ollie's Bargain Outlet (OLLI) plunged 13% in premarket trading after it fell 3 cents short of Wall Street forecasts with adjusted quarterly earnings of 52 cents per share. The discount retailer's revenue fell short as well, with comparable store sales falling 28% from a year earlier.
HP Inc. (HPQ) beat estimates by 16 cents with adjusted quarterly earnings of $1.00 per share, though revenue fell below analyst forecasts. The personal computer and printer maker saw the worldwide chip shortage hurt its ability to meet demand, with the company saying it is selling everything it can produce. HP lost 4.6% in premarket action.
Dell Technologies (DELL) reported adjusted quarterly earnings of $2.24 per share, 21 cents above estimates, with revenue also topping analyst projections. Dell benefited from the ongoing boom in demand for personal computers and said it is dealing successfully with supply chain challenges. However, the stock fell 1.8% in the premarket.
Workday (WDAY) earned an adjusted $1.23 per share for its latest quarter, with the provider of cloud-based human resources and financial software also reporting better-than-expected revenue. Subscription revenue jumped more than 23% from a year earlier. Workday shares surged 7% in premarket trading.
Marvell Technology (MRVL) came in 3 cents above estimates with an adjusted quarterly profit of 34 cents per share. However, the chip maker's revenue merely matched Street forecasts, and its cost of goods sold jumped from a year earlier. Shares slid 3.6% in the premarket.
VMWare (VMW) reported adjusted quarterly earnings of $1.75 per share, beating the $1.64 consensus estimate, while the enterprise software company's revenue was slightly above Wall Street forecasts. However, cloud business revenue did fall short of some analyst forecasts, and shares slid 5.7% in the premarket
CONTRIBUTORS
Matthew J. Belvedere
@Matt_Belvedere
Peter Schacknow
@peterschack
CNBC
U.S. stock futures rose Tuesday, one day after a strong rally led by reopening names as the FDA gave full approval to Pfizer's Covid vaccine. The Nasdaq closed at a record. The S&P 500 finished just shy of a new high. The Dow on Monday ended less than 1% away from its latest record close last week. The approval of Pfizer's two-shot vaccine was seen as clearing the path for more mandates in the face of the spread of the delta variant. (CNBC)
* Chinese tech stocks rally as JD.com surges 15%, Tencent climbs nearly 9% (CNBC)
* China's cyberspace regulator lays out two conditions for IPOs (CNBC)
IN THE NEWS TODAY
Disney (DIS) has reached a deal with its unions to require all of its unionized employees working at Walt Disney World in Florida to be fully vaccinated against Covid by Oct. 22. The move comes nearly a month after Disney mandated that all of its salaried and nonunion hourly employees in the U.S. needed to be fully vaccinated by the end of September. No deal has been struck with unions on the West Coast. (CNBC)
The FAA has launched a review of how Boeing employees handle safety matters on the agency's behalf, according The Wall Street Journal. Some company engineers said they face undue pressure, the Journal reports. Boeing told the publication the company is working to boost the independence of workers who help the FAA with certain tasks.
The House plans to reconvene Tuesday as Democrats try to strike a deal to move forward with legislation they see as a boon for American households. The House scrapped a planned Monday vote to advance two key economic proposals. House Speaker Nancy Pelosi wants to pass a $1 trillion bipartisan infrastructure bill and Democrats' separate $3.5 trillion spending plan at the same time. (CNBC)
British Prime Minister Boris Johnson will host an emergency meeting of G-7 leaders Tuesday to address the chaotic situation in Afghanistan. The meeting comes just a week ahead of the U.S. Aug. 31 deadline for the complete withdrawal of its forces from Afghanistan. Johnson is expected to request that Washington extend that deadline. (CNBC)
* Kathy Hochul, New York's first female governor, inherits vast challenges (AP)
Tesla (TSLA) CEO Elon Musk has tweeted that the latest release of the electric auto maker's experimental driver assistance software, FSD Beta 9.2, is "actually not great." Tesla sells a Full Self-Driving capability package for $10,000 or $199 per month in the U.S. (CNBC)
* CNBC road test: The U.S. EV charging network isn't ready for your family road trip
Best Buy (BBY) shares rallied 4% in the premarket after the electronics retailer beat estimates on its top and bottom lines for the second quarter. Best Buy earned $2.98 per share on total quarterly revenue of $11.85 billion. Comparable-store sales in Q2 rose a better-than-expected 19.6%. (CNBC)
Walmart (WMT) on Tuesday announced the launch of a delivery service called GoLocal, which will carry goods from other local retailers to consumers. The company said it expects to begin shipping by the end of 2021 and the delivery fleet would include newer technologies, such as self-driving vehicles and drones. (CNBC)
STOCKS TO WATCH
Palo Alto Networks (PANW): surged nearly 12% in the premarket, after being estimates by 16 cents a share, with quarterly earnings of $1.60 per share. The cybersecurity company's revenue was also above estimates, and it issued an upbeat outlook as well.
Camping World (CWH), the maker of RVs and other recreational products, announced it would double its quarterly dividend to 50 cents per share from 25 cents a share, payable on September 28 to shareholders of record on September 14. Camping World shares rallied 6% in premarket trading.
Advance Auto Parts (AAP) reported quarterly profit of $3.40 per share, beating estimates. Revenue came in slightly above forecasts. Comparable-store sales grew 5.8%, slightly shy of the 6% consensus estimate. Advance Auto raised its full-year forecast for overall sales and for comparable-store sales growth. The company's shares fell 1% in the premarket.
Medtronic (MDT) beat estimates by 9 cents a share, with quarterly profit of $1.41 per share. Revenue also topped estimates, helped by a rebound in demand as patients underwent non-urgent procedures that had been delayed by the pandemic. Share of the medical device maker added 1.8% in the premarket.
Shares of insurance company Cigna (CI) rose 1% in premarket trading after it announced a $2 billion accelerated stock repurchase agreement.
Didi Global (DIDI) climbed almost 4% in the premarket, extending Monday gains on reports that it would suspend plans to launch its ride-hailing service in the U.K. and continental Europe.
Casino stocks such as Las Vegas Sands (LVS) and Wynn Resorts (WYNN) rallied in premarket trading after the easing of travel curbs in Macau as the outlook for Covid cases improved.
Cara Therapeutics (CARA) shares soared 19.8% in premarket trading after it received FDA approval for its Korsuva injection, designed to treat a kidney disease-related condition known as pruritis.
CONTRIBUTORS
Matthew J. Belvedere
@Matt_Belvedere
Peter Schacknow
@peterschack
CNBC
Dow futures slumped Thursday, a day after minutes from July's Federal Reserve meeting indicated that the central bank will start to tap the brakes on the policy it has used to juice up the economy and financial markets. Futures contracts tied to the blue chip index tumbled more than 350 points following news that Fed officials think they can start cutting monthly bond purchases by the end of the year. The market also confronted fears that the economy is starting to slow. Goldman Sachs sharply cut its view on third-quarter GDP, reducing its growth expectations to 5.5% from 9%. Investors will be watching the latest reading on weekly jobless claims as well as manufacturing activity in the Philadelphia region.
Bond yields fell Thursday as concerns rose about growth and amid tremors from the situation in Afghanistan. Fed minutes indicated that officials took a mostly optimistic view on the path ahead but worried about the impact the delta variant of Covid-19 would have and said "uncertainty was quite high" about the future. Central bankers also expressed concern about price pressures that could last longer than anticipated, though there appeared to be considerable difference in views on inflation. The benchmark 10-year Treasury note most recently yielded 1.23%, down more than 4 basis points on the session and 13 basis points from a week ago.
Amazon shares nudged lower following news that it is preparing to broaden its presence in the brick-and-mortar retail world. The company plans to open locations that resemble larger department stores, according to a Wall Street Journal report. The online goliath is looking to open locations in California and Ohio, with stores that will occupy about 30,000 square feet. That would be comparable to a typical Kohl's or T.J. Maxx. Elsewhere in retail, Macy's shares got a lift on better-than-expected earnings, while Kohl's shares slipped even though it topped estimates.
IN THE NEWS TODAY
Despite a Taliban promise to respect human rights and ensure a peaceful transition to power, reports of violence around Afghanistan escalated. At least 12 people have been killed in and around Kabul airport alone since Sunday when the Taliban entered the Afghan capital, NATO and Taliban officials said. Beatings by Taliban fighters left some adults and at least one child injured and bleeding, according to reports. The Taliban deny their members' involvement in the violence.
Wells Fargo has backed off a controversial plan to pull the plug on its customers' lines of credit. The bank has decided to keep the credit lines available for those who actively used them or want to reactivate old ones, according to a spokeswoman for the San Francisco-based company. It will not offer the product to new customers, however. Uproar over the cancellation plans occurred following a CNBC report in July. Shares fell 1.7% premarket.
Macy's (M) reported adjusted quarterly earnings of $1.29 per share, well above the 19-cent consensus estimate, with revenue also above forecasts. The retailer reported a better than expected increase in comparable store sales as well, raised its annual sales forecast, and announced a share buyback and the reinstatement of its dividend. Shares jumped 3.7% in the premarket.
Kohl's (KSS) fell 2.6% in premarket action despite quarterly results that beat analyst forecasts. Kohl's reported adjusted quarterly profit of $2.48 per share, well above the $1.21 consensus estimate.
Tapestry (TPR), the company behind the Coach and Kate Spade brands, beat estimates by 5 cents with adjusted quarterly earnings of 74 cents per share, with revenue above estimates as well as a reopening of economies around the world boosted demand for luxury goods. Tapestry also reinstated its dividend, but shares fell 2.3% in premarket trading.
Petco (WOOF) beat estimates by 5 cents with adjusted quarterly earnings of 25 cents per share and revenue that beat analyst forecasts as well. The pet supplies retailer also raised its full-year earnings and revenue outlook.
BJ's Wholesale (BJ) beat estimates on the top and bottom lines for its latest quarter, earning an adjusted 82 cents per share for the second quarter, 17 cents above estimates. The warehouse retailer also reported unexpected growth in same-store sales.
Robinhood (HOOD) slumped 9.9% in the premarket after the company behind the popular app warned of a slowdown in trading activity during the current quarter. In its first report as a public company, Robinhood did note that quarterly revenue surged 131% compared to a year earlier, driven by a surge in cryptocurrency activity.
Cisco Systems (CSCO) beat estimates by 2 cents with adjusted quarterly earnings of 84 cents per share and revenue above estimates as well. The networking equipment and services company did give a current quarter profit forecast that fell shy of analyst forecasts, due to supply chain issues, and shares lost 1.4% in premarket trading.
Bath & Body Works (BBWI) added 2.7% in premarket trading, after beating Street forecasts in its first quarterly report since L Brands spun off Victoria's Secret and renamed itself Bath & Body Works.
Victoria's Secret (VSCO) shares plunged 8.6% in premarket action, after reporting quarterly sales that fell short of analyst expectations. The women's apparel company did see an improvement in profit margins as it kept tight inventories and ran fewer promotions.
Nvidia (NVDA) came in above estimates with adjusted quarterly earnings of $1.04 per share, while revenue also topped estimates. The graphics chipmaker shares gained 1.4% in the premarket after it also forecast better than expected current quarter revenue.
Toyota Motor (TM) dropped 3.1% in premarket trading, following a report by Japan's Nikkei News service that the automaker would slash planned September production by 40% due to the global chip shortage.
Red Robin Gourmet Burgers (RRGB) shares tumbled 9.4% in premarket trading, after posting an unexpected quarterly loss and lower than expected revenue. Red Robin said a worker shortage led to reduced operating hours at certain restaurants during the quarter.
CONTRIBUTORS
Peter Schacknow
@peterschack
Jeff Cox
@JeffCoxCNBCcom
hahahahahahahahahahahahaha
NOPE!
GOED was up 5.54% yesterday. I suspect more today, in anticipation of tomorrow's ER.
MG
GOED 1847 Goedeker Inc. Announces Second Quarter 2021 Earnings Release Date and Webcast BY PR Newswire — 4:14 PM ET 08/06/2021
BALLWIN, Mo., Aug. 6, 2021 /PRNewswire/ -- 1847 Goedeker Inc. ("Goedekers" or the "Company") and its Appliances Connection Business, the largest pure-play online retailer of household appliances in the U.S., today announced that it will hold a conference call and webcast to discuss results for the second quarter ended June 30, 2021, on Thursday, August 12, 2021 at 8:00 a.m. EDT. The company expects to release its financial results before the market opens that morning.
The call and webcast will be available via:
Webcast:
https://investor.goedekers.com on the Events & Webcasts page
Conference Call:
877-317-6789 (domestic) or 412-317-6789 (international); Please ask to join the Goedeker 2Q 2021 Earnings Call
If you are unable to participate during the live webcast, the call will be recorded and later made available on the Company's website.
CNBC
Stocks futures were quiet on Tuesday morning, with those for the Dow Jones Industrial Average slipping about 20 points. The Dow and S&P 500 retreated on Monday after hitting record highs last week.
* Treasury yields are little changed ahead of inflation data (CNBC)
Tesla sold 32,968 of its China-made cars last month, but less than 9,000 of those were local sales. The company made more than 28,000 local sales in June. (Reuters)
Movie theater chain AMC reported a smaller-than-expected loss for the second quarter and $444.7 million revenue, which also beat estimates. The stock jumped in premarket trading. (CNBC)
* AMC says it will accept bitcoin as payment for movie tickets by year-end. (CNBC)
* AMC reaches deal with Warner Bros. for 45 days theatrical exclusivity in 2022 (CNBC)
IN THE NEWS TODAY
Amazon cloud executive Charlie Bell is leaving the company, which he joined in 1998. Bell's departure is the latest in a series of high-level turnover at Amazon Web Services. The company also switched CEOs earlier this year, with Andy Jassy taking the reins as founder Jeff Bezos stepped back. (CNBC)
Softbank's SB Northstar trading unit sold shares in major U.S. tech companies, including Facebook, Alphabet and Netflix, according to financial reports released on Tuesday. (CNBC)
Tropical storm warnings and watches were issued for many Caribbean islands, including Puerto Rico and the U.S. Virgin Islands. (AP)
STOCKS TO WATCH
Casper Sleep (CSPR) The sleep products company reported record quarterly revenue that came in above Street forecasts, though it still reported a quarterly loss. Casper Sleep said it saw strong growth in both retail and direct-to-consumer sales channels, but noted that it is also dealing with higher input costs and supply chain difficulties. Shares initially rallied in the premarket, but subsequently tumbled 6.1%.
Kansas City Southern (KSU) Canadian Pacific Railway (CP) raised its cash-and-stock offer for Kansas City Southern to about $300 per share. Canadian Pacific had struck a deal to buy its rival rail operator for $275 per share, but Kansas City Southern subsequently agreed to a higher offer from Canadian National Railway (CNI). Kansas City Southern surged 7.2% in the premarket, while Canadian Pacific lost 1.7% and Canadian National rose 1.9%.
Aramark (ARMK) The foodservice company reported a quarterly profit of 3 cents per share, beating the penny a share consensus estimate. Revenue came in slightly below forecasts. Aramark said it benefited from rebounding sales volume as well as effective cost management. Aramark shares added 1.3% in the premarket.
Planet Fitness (PLNT) Planet Fitness missed estimates by 2 cents a share, with quarterly earnings of 21 cents per share. Revenue topped estimates as gyms reopened and membership numbers increased for the fitness center operator. Shares fell 3.2% in the premarket.
CONTRIBUTORS
Peter Schacknow
@peterschack
Jesse Pound
@jesserpound
CNBC from yesterday. There goes my tip this month when I collect :(
U.S. stock futures rose modestly Thursday after jobless claims matched forecasts and ahead of Friday's employment report. Investors want to see if the ADP's disappointing job growth at U.S. companies in July indicates a labor recovery running out of steam. The Dow on Wednesday fell 323 points, or 0.9%. The S&P 500 slipped almost 0.5%. The Nasdaq rose slightly. (CNBC)
* 10-year Treasury yield hold under 1.2% after steady claims data (CNBC)
The government Thursday morning reported initial jobless claims for last week dipped to 385,000, matching estimates. The previous week was revised a bit lower to 399,000. The latest reading on continuing claims, which runs one week behind the headline weekly number, showed a sharp drop to under 3 million. On Friday, the government is set to release its July employment report. (CNBC)
Shares of Robinhood (HOOD) fell 10% in Thursday's premarket after the popular online trading platform said in an amended filing that existing shareholders will sell up 97.9 million shares over time. Robinhood won't receive any of the proceeds. Shares soared 50% on Wednesday and more than doubled since last week's first-day close after the company's IPO. (CNBC)
* Outdoor grills maker Weber raises $250 mln in downsized IPO (Reuters)
IN THE NEWS TODAY
Moderna (MRNA) said its Covid vaccine booster shot produced a "robust" antibody response against the highly contagious delta variant, according to details of a study released Thursday with the company's better-than-expected quarterly earnings report. Moderna also said a final analysis of its phase three study found the two-dose vaccine was 93% effective, with efficacy "remaining durable" through six months after administration of the second dose. (CNBC)
* CVS stops giving J&J Covid vaccines in pharmacies (CNBC)
Regeneron (REGN) stock added 3.3% in premarket trading after beating top and bottom-line estimates by a wide margin. Results were boosted by demand for its Covid antibody cocktail, which surged to nearly $2.6 billion, accounting for more than half of the drugmaker's total U.S. net product revenue. (Reuters)
Booking Holdings (BKNG) lost an adjusted $2.55 per share for the second quarter, wider than the loss Wall Street had been anticipating. However, revenue was above estimates and nearly tripled for the parent of Priceline, Kayak and other travel services, as travel demand jumped amid increasing vaccinations and an easing of restrictions. The stock added 3.1% in the premarket. (Reuters)
Etsy (ETSY) shares sank 12% in the premarket after the online crafts marketplace late Wednesday reported lower-than-expected user growth. Etsy did top estimates with quarterly earnings of 68 cents per share. Revenue also beat projections. The stock was up 55% over the past 12 months. (CNBC)
Shares of Roku (ROKU) fell more than 8% in Thursday's premarket, one day after the video streaming device maker reported disappointing user growth. Roku did crush estimates with quarterly earnings of 52 cents per share. Revenue also exceeded estimates. The stock was up over 150% in the past 12 months. (CNBC)
Uber (UBER) shares dropped 4% in Thursday's premarket, the morning after the ride-hailing and food delivery company reported a surprise quarterly profit of 58 cents per share. Analysts had expected a 51 cent loss. While revenue also beat, the stock was under pressure with Uber revealing that quarterly profit came largely come from its investments. The stock was up more than 25% in the past 12 months. (CNBC)
President Joe Biden will set a new national target on Thursday for the adoption of electric vehicles, calling for them to represent 40% to 50% of all new auto sales by 2030, according to senior administration officials. Executives from each of the Detroit automakers are scheduled to attend an event Thursday at the White House. The president will sign an executive order on the sales target, but it's not mandatory. (CNBC)
STOCKS TO WATCH
Penn National (PENN) is buying digital media and sports betting company Score Media (SCR) for $2 billion in cash and stock, sending Score shares soaring by 72.4% in premarket trading.
Fastly (FSLY) lost 14 cents per share for the second quarter, less than analysts had predicted. However, the cloud software company's revenue missed forecasts, and it said a widespread network outage in June will continue to impact results for the rest of the year. Shares tumbled 22% in the premarket.
Electronic Arts (EA) beat estimates by 12 cents with adjusted quarterly earnings of 79 cents per share, and the videogame maker's revenue also topped analyst forecasts. EA also gave an upbeat current-quarter forecast, on strength in franchises like "FIFA 2021". The stock jumped 3.4% in premarket trading.
Lemonade (LMND) shares lost 8.8% in the premarket after the insurance company reported a sales decline and quarterly losses that more than doubled from a year earlier. However, Lemonade did issue a better than expected full-year revenue forecast.
Cigna (CI) beat estimates by 28 cents with adjusted quarterly earnings of $5.24 per share, with revenue also beating estimates. The insurance company did note a negative impact of higher medical costs, and the stock fell 3.7% in premarket trading.
Wayfair (W) shares leaped 8.7% in the premarket after its quarterly profit of $1.89 per share came in well above the consensus estimate of $1.15. The home furnishings seller also said it's $3.9 billion in revenue during the quarter is well above pre-pandemic run rates.
CONTRIBUTORS
Matthew J. Belvedere
@Matt_Belvedere
Peter Schacknow
@peterschack
That Hood was just like doggie coin etc
I missed it in the low 30s
be crazy to short even though they have huge losses
be crazy to chase it long
oh well
CNBC
Wall Street is set to open lower on the final trading day of July as investors get three Dow stock earnings reports and another reading on inflation to digest. Nasdaq futures were leading the way down Friday, with a decline of more than 1% as Amazon (AMZN) shares fell nearly 7% in the premarket after its first revenue miss in three years. (CNBC)
The Dow and S&P 500 hit all-time highs during Thursday's trading and broke two-day losing streaks. But they failed to top Monday's record closes. The Nasdaq advanced modestly, but still finished about 0.4% away from its latest record close on Monday. All three stock benchmarks were tracking for solid monthly gains. (CNBC)
The Fed's favorite inflation gauge came in slightly below expectations for June. The Commerce Department's latest core personal consumption expenditures price index rose 3.5% on a year-over-year basis, up slightly from May's advance, which was the fastest pace since the early 1990s. At the conclusion of its July meeting on Wednesday, the Fed noted "progress" on inflation and employment goals. (CNBC)
IN THE NEWS TODAY
Dow stock Chevron just reported a second straight profitable quarter as improving demand for petroleum products and a jump in oil prices boosted operations. The company also reinstated its share repurchase program. The oil giant earned an adjusted $1.71 per share on $37.6 billion in revenue, both topping estimates. Shares rose about 1.5% in the premarket. (CNBC)
* Exxon tops estimates with biggest quarterly profit in a year (Reuters)
Caterpillar (CAT), another Dow component, dropped nearly 2.5% in Friday's premarket, despite the heavy equipment maker saying it earned an adjusted $2.60 per share on nearly $12.9 billion in revenue. The industrial bellwether has been benefiting from higher infrastructure spending around the globe. (Reuters)
Procter & Gamble (PG) on Friday topped estimates with quarterly earnings and revenue as consumers bought more premium health and personal care products. The Dow stock rose 1% in the premarket. P&G reported a per-share profit of $1.13 on almost $19 billion in revenue. However, the company warned that increasing commodity costs could hit its earnings in the upcoming year. (CNBC)
Amazon said second-quarter revenue grew by 27% year over year to more than $113 billion, the third $100 billion quarter in a row but actually a slower pace of growth from the blistering 41% advance in the year-ago period. The e-commerce and cloud giant reported Q2 earnings per-share of $15.12, which exceeded expectations. Looking ahead, Amazon warned about lower sales numbers and a lower growth rate for the third quarter. (CNBC)
Unpublished CDC data that was the basis for the decision to recommend that fully vaccinated people begin wearing masks indoors again in places with high Covid transmission rates is expected to be released Friday, according to The Washington Post. The internal CDC document, obtained by the Post, reveals that the delta variant is as contagious as chickenpox.
* Dr. Scott Gottlieb estimates up to 1 million Americans infected with Covid daily as delta spreads (CNBC)
Congress on Thursday approved a $2.1 billion spending bill that would address security concerns at the U.S. Capitol, and bolster federal efforts to relocate Afghans that aided U.S. forces during the war in Afghanistan. It passed the Senate with unanimous support in a 98-0 vote, and later passed the House in a 416-11 vote. The measure will now go to President Joe Biden, who backed the measure in a statement Tuesday. (CNBC)
* VP Kamala Harris unveils strategy to address illegal immigration at the border (CNBC)
Tesla (TSLA) agreed to pay $1.5 million to settle claims that one of the company's over-the-air software updates temporarily limited maximum battery charging capacity and range in 1,743 Model S sedans. The proposed settlement would cover attorneys' fees and costs, and pay owners $625 each in most cases for the reduced battery performance. (CNBC)
* Tesla Megapack caught fire at Victorian Big Battery site in Australia (CNBC)
Elon Musk's brain-machine interface company, Neuralink, has raised $205 million from investors including Google Ventures, Peter Thiel's Founders Fund, and OpenAI CEO Sam Altman. Founded in 2016, Neuralink is trying to develop high-bandwidth brain implants that can communicate with phones and computers. (CNBC)
Robinhood CEO Vlad Tenev on Thursday sought to assuage worries about the company's stock price decline after its initial public offering. "I'm used to being doubted, personally, I think, from the very beginning. We felt like underdogs here at Robinhood and, you know, we'll see underdogs hopefully evolving into comeback kids," he said in a "Mad Money" interview. Shares on Day 2 in the public market fell modestly in the premarket. (CNBC)
* For CNBC Pro subscribers: Cathie Wood buys $45 million of Robinhood shares
Disney (DIS) fired back against Scarlett Johansson after the Marvel actress filed a lawsuit against the studio for releasing "Black Widow" on Disney+. "There is no merit whatsoever to this filing," Disney said in a statement Thursday. (CNBC)
* Amanda Knox slams 'Stillwater' movie in powerful essay (CNBC)
STOCKS TO WATCH
Pinterest (PINS) shares were hammered 21% in premarket trading after the image-sharing website operator reported a quarterly decline in monthly average users. Pinterest had seen usage surge during the pandemic as people remained at home and spent more time in front of their computers. Pinterest did, however, beat analyst estimates for both profit and revenue for its latest quarter.
Capri Holdings (CPRI), the company behind the Michael Kors and Versace luxury brands, earned an adjusted $1.42 per share for its latest quarter, well above the 80 cent consensus estimate. Revenue also exceeded forecasts and Capri raised its annual outlook for the second time this year. The stock jumped 4% in premarket action.
Restaurant Brands (QSR), parent of Tim Hortons, Popeyes and Burger King, reported adjusted quarterly earnings of 77 cents per share, 51 cents above estimates, and revenue also came in above Wall Street forecasts. Results got a boost from an increasing number of customers visiting restaurants as the pandemic receded. Shares rose 2% in Friday's premarket.
Texas Roadhouse (TXRH) beat estimates by 9 cents with quarterly earnings of $1.08 per share, while the restaurant chain's revenue was also above Street forecasts. However, Texas Roadhouse did say it expects food costs to continue to rise and its stock fell 5% in the premarket.
T-Mobile US (TMUS) reported quarterly earnings of 78 cents per share, 25 cents higher than Street forecasts, while the mobile service provider also saw revenue beat estimates. Higher demand for 5G devices and services helped boost its subscriber numbers. Shares dropped 1% in the premarket.
Gilead Sciences (GILD) came in 14 cents ahead of estimates with an adjusted quarterly profit of $1.87 per share, while the drug maker's revenue exceeded estimates as well. However, sales of Gilead's flagship HIV drugs fell 2% during the quarter, and the stock lost 1.5% in premarket trading.
CONTRIBUTORS
Matthew J. Belvedere
@Matt_Belvedere
Peter Schacknow
@peterschack
CNBC
Dow futures rose Wednesday as Wall Street tried to keep its rebound rally going. However, earlier gains were cut sharply and Nasdaq futures slipped. The Dow jumped 549 points, or 1.6%, on Tuesday after starting the week with a 725 point rout. The S&P 500 and Nasdaq recovered more than 1.5%. The delta variant-driven surge in new daily Covid cases in the U.S. and around the world has put investors on edge. (CNBC)
As of Tuesday's close, all three stock benchmarks were still over 1% away from last week's record closes. Adding to swings in stocks this week, the 10-year Treasury yield bounced off Tuesday's 5 -month lows of nearly 1.13%, trading early Wednesday around 1.25%. Bitcoin climbed back above $30,000, rebounding after a sell-off in cryptocurrencies. (CNBC)
Shares of Netflix fell in the premarket after the video-streaming giant late Tuesday missed estimates with second-quarter earnings of $2.97 per share. Revenue of $7.34 billion basically matched forecasts. Global paid net subscriber additions of 1.54 million beat expectations. Netflix also confirmed a push into gaming. (CNBC)
IN THE NEWS TODAY
Dow stock Johnson & Johnson (JNJ) rose about 1% in premarket trading after the U.S. drugmaker Wednesday delivered better-than-expected earnings of $2.48 per share in the second quarter. Revenue of $23.31 billion also beat expectations. (CNBC)
J&J expects to sell $2.5 billion of its one-shot Covid vaccine this year, even as concerns mount over its effectiveness against the delta variant. A new NYU study suggests that people who got the J&J vaccine get a second shot of it or a booster of the Pfizer or Moderna vaccines. (CNBC)
The world is in the "early stages of another wave" of Covid infections and death, WHO Director General Tedros Adhanom Ghebreyesus said Wednesday. Speaking to International Olympic Committee members in Tokyo, Tedros also called on the world's leading economies to share vaccines. (CNBC)
The pandemic drove average life expectancies in the U.S. down by about a year and a half last year, marking the largest one-year decline since World War II, according to new data from the CDC. Americans are now expected to live an average of 77.3 years. Hispanics saw the biggest drop in life expectancy last year, followed by Black Americans. (CNBC)
* China scraps fines, allows families have as many children as they like (CNBC)
The bipartisan infrastructure deal senators brokered with President Joe Biden is hanging precariously ahead of a crucial Wednesday test vote as they struggle over how to pay for nearly $1 trillion in public works spending. Tensions were rising as Republicans prepared to mount a filibuster. (AP)
The Biden administration has reached a preliminary agreement with Germany over a controversial Russia-to-Europe gas pipeline, called the Nord Stream 2. It's vehemently opposed by Ukraine and Poland as well as both Republicans and Democrats in Congress. (AP)
STOCKS TO WATCH
Shares of Dow component Coca-Cola (KO) jumped about 2% in the premarket after the beverage giant reported better-than-expected earnings of 68 cents per share. Revenue of $10.13 billion also exceeded forecasts. Sales surpassed 2019 pre-Covid levels, prompting the company to raise its full-year outlook.
Verizon (VZ), also a Dow stock, rose about 1.5% in premarket trading, after the company beat estimates by 7 cents with adjusted quarterly profit of $1.37 per share. Verizon also reported better-than-expected revenue and subscriber growth, and raised its full-year outlook.
Shares of United Airlines gained about 1% in Wednesday's premarket, the morning after the carrier matched estimates with a second-quarter loss of $3.91 per share. Revenue beat expectations and quadrupled to $5.47 billion. Sales were still down 50% from 2019 levels. United expects to generate positive adjusted pretax income for the third and fourth quarters and plans to ramp up flights.
Harley-Davidson (HOG) reported quarterly earnings of $1.33 per share, 16 cents above estimates, although revenue was short of analyst projections. Its bottom line benefited from sales of more high-margin products like touring and cruiser bikes. Harley shares jumped more than 2.5% in the premarket.
Chipotle Mexican Grill (CMG) earned an adjusted $7.46 per share, beating consensus forecasts of a $6.52 per share profit. The restaurant chain's revenue was slightly above Wall Street forecasts, and comparable sales also beat analyst projections as indoor dining continued to rebound. Chipotle shares surged roughly 4.5% in premarket trading.
Sleep Number (SNBR) shares fell 28 cents shy of estimates with quarterly earnings of 88 cents per share, with the mattress retailer's revenue below estimates as well. Sleep Number said supply shortages continue to impact its sales, and its stock tumbled more than 12% in the premarket.
SAP (SPA) raised its outlook for the second time this year, with the business software giant benefiting from its work helping customers transition IT operations to the cloud. Despite the raise, SAP shares fell almost 5% in the premarket.
Intuitive Surgical (ISRG) reported adjusted quarterly profit of $3.92 per share, compared with a $3.07 consensus estimate. The surgical equipment maker also reported better-than-expected revenue, as sales and usage of its da Vinci surgical robotic systems increased as medical procedures rebounded post-pandemic. Intuitive Surgical gained 3% in premarket trading.
JPMorgan Chase (JPM) awarded Jamie Dimon 1.5 million stock options that are not exercisable for at least 5 years, with the board saying the award reflects its desire for the 65-year-old CEO to continue in that role "for a significant number of years."
CONTRIBUTORS
Matthew J. Belvedere
@Matt_Belvedere
Peter Schacknow
@peterschack
Earnings tomorrow:
U.S. Earnings Announcements for July 20, 2021
Company Symbol Time of Day Confirmed Earnings Quarter Estimated EPS NEXT EARNINGS ANNOUNCEMENT
Date Confirmed
AAR Corp
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AIR After Market No Q4 $0.454 9/22/2021 No
Ally Financial Inc
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ALLY Not Specified Yes Q2 $1.476 10/14/2021 No
Amphenol Corp
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APH Not Specified No Q2 $0.553 10/19/2021 No
Armour Residential REIT Inc
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ARR Not Specified No Q2 $0.274 10/19/2021 No
Avangrid Inc
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AGR After Market Yes Q2 $0.411 10/26/2021 No
Badger Meter Inc.
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BMI Before Market Yes Q2 $0.458 10/14/2021 No
Bank First Corp
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BFC Not Specified No Q2 $1.375 10/18/2021 No
BayCom Corp
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BCML Not Specified No Q2 $0.42 10/20/2021 No
Cambridge Bancorp
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CATC Before Market Yes Q2 $1.801 10/18/2021 No
Canadian National Railway Co
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CNI Not Specified No Q2 $1.489 10/19/2021 No
Central Valley Community Bancorp
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CVCY Not Specified No Q2 $0.47 10/26/2021 No
Chipotle Mexican Grill Inc
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CMG After Market Yes Q2 $6.505 10/19/2021 No
Citizens Financial Group Inc
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CFG Before Market Yes Q2 $1.104 10/20/2021 No
Colony Bankcorp Inc
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CBAN Not Specified No Q2 $0.5 10/13/2021 No
Consumer Portfolio Services Inc
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CPSS Not Specified No Q2 $0.213 10/25/2021 No
Dover Corp
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DOV Not Specified Yes Q2 $1.836 10/18/2021 No
Farmers & Merchants Bancorp Inc
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FMAO Not Specified No Q2 $0.46 10/19/2021 No
First Community Corp
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FCCO Not Specified No Q2 $0.458 10/19/2021 No
First Midwest Bancorp Inc
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FMBI Before Market Yes Q2 $0.372 10/18/2021 No
Forestar Group Inc
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FOR After Market Yes Q3 $0.399 11/3/2021 No
Fulton Financial Corp
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FULT After Market Yes Q2 $0.33 10/18/2021 No
GATX Corp.
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GATX Before Market Yes Q2 $1.025 10/18/2021 No
Grupo Aeroportuario del Sureste SAB de CV
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ASR Not Specified No Q2 $2.012 10/20/2021 No
Halliburton Co
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HAL Before Market Yes Q2 $0.228 10/18/2021 No
Hancock Whitney Corp
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HWC After Market Yes Q2 $1.113 10/18/2021 No
HCA Healthcare Inc
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HCA Before Market Yes Q2 $3.162 10/25/2021 No
Helix Energy Solutions Group Inc
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HLX Not Specified No Q2 -$0.079 10/19/2021 No
Heritage-Crystal Clean Inc
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HCCI Not Specified No Q2 $0.375 10/12/2021 No
Hope Bancorp Inc
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HOPE After Market Yes Q2 $0.382 10/18/2021 No
Interactive Brokers Group Inc
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IBKR After Market Yes Q2 $0.829 10/18/2021 No
Intuitive Surgical Inc
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ISRG After Market Yes Q2 $3.063 10/13/2021 No
Iridium Communications Inc
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IRDM Before Market Yes Q2 -$0.056 10/18/2021 No
KeyCorp
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KEY Before Market Yes Q2 $0.535 10/19/2021 No
Limestone Bancorp Inc
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LMST Not Specified No Q2 $0.36 10/19/2021 No
ManpowerGroup Inc
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MAN Before Market Yes Q2 $1.415 10/18/2021 No
Mercantile Bank Corp
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MBWM Before Market Yes Q2 $0.78 10/18/2021 No
Metropolitan Bank Holding Corp
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MCB Not Specified No Q2 $1.41 10/19/2021 No
Monarch Casino & Resort Inc
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MCRI Not Specified No Q2 $0.928 10/27/2021 No
Neogen Corp
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NEOG Before Market No Q4 $0.165 9/20/2021 No
Netflix Inc
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NFLX Not Specified Yes Q2 $3.156 10/18/2021 No
New Residential Investment Corp
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NRZ Not Specified No Q2 $0.314 10/25/2021 No
Northfield Bancorp Inc
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NFBK Not Specified No Q2 $0.303 10/26/2021 No
NVR Inc.
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NVR Not Specified No Q2 $72.527 10/18/2021 No
Old National Bancorp
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ONB Before Market Yes Q2 $0.403 10/18/2021 No
Omnicom Group Inc.
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OMC Before Market Yes Q2 $1.381 10/25/2021 No
Peoples Bancorp Inc
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PEBO Before Market Yes Q2 $0.65 10/18/2021 No
Philip Morris International Inc
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PM Before Market Yes Q2 $1.551 10/19/2021 No
Pinnacle Financial Partners Inc
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PNFP After Market Yes Q2 $1.445 10/18/2021 No
Preferred Bank of Los Angeles
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PFBC After Market Yes Q2 $1.455 10/18/2021 No
Pzena Investment Management Inc
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PZN Not Specified Yes Q2 n/a n/a n/a
Qualtrics International Inc
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XM After Market Yes Q2 -$0.021 n/a n/a
Rexnord Corp
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RXN After Market Yes Q2 $0.497 10/25/2021 No
Rush Enterprises Inc
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RUSHA After Market Yes Q2 $0.789 10/19/2021 No
Signature Bank
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SBNY Before Market Yes Q2 $3.145 10/18/2021 No
Silvergate Capital Corp
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SI Before Market Yes Q2 $0.51 10/25/2021 No
Sleep Number Corp
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SNBR After Market Yes Q2 $1.075 10/12/2021 No
SmartFinancial Inc
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SMBK Not Specified Yes Q2 $0.463 10/18/2021 No
Stock Yards Bancorp Inc
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SYBT Not Specified No Q2 $0.773 10/26/2021 No
Synchrony Financial
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SYF Before Market Yes Q2 $1.415 10/18/2021 No
Synovus Financial Corp.
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SNV Before Market Yes Q2 $1.037 10/18/2021 No
Travelers Companies Inc (The)
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TRV Before Market Yes Q2 $2.386 10/18/2021 No
UBS Group AG
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UBS Not Specified No Q2 $0.44 n/a n/a
United Airlines Holdings Inc
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UAL After Market Yes Q2 -$3.956 10/12/2021 No
United Community Banks Inc
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UCBI After Market Yes Q2 $0.656 10/18/2021 No
Data provided by Thomson Reuters
CNBC
Dow futures dropped Thursday, one day after the S&P 500 hit an all-time high but failed to close at a record. In a muted session, the Dow finished slightly higher and the Nasdaq ended slightly lower. Both both benchmarks were less than 1% away from their record closes on Monday. (CNBC)
Fed Chairman Jerome Powell is set to deliver his semiannual economic testimony to the Senate Banking Committee on Thursday. He told the House Committee on Financial Committee on Wednesday that the Fed is still a ways off from altering monetary policy. He also said he expects inflation to moderate even as the latest readings this week on consumer prices and wholesale prices surged. (CNBC)
Bond yields fell on Powell's dovish message Wednesday. The 10-year Treasury yield continued to drop Thursday to around 1.32%. The Labor Department reported that initial jobless claims for last week came in as expected at 360,000. That's a new Covid-era low. First-time claims, which rose unexpectedly for the week ended July 3, were upwardly revised. (CNBC)
* U.S. oil prices extend losses on expected supply increase (Reuters)
The Social Security cost-of-living adjustment for 2022 could be 6.1% due to inflation, according to a new estimate. That would be the biggest increase since 1983, according to non-partisan advocacy group The Senior Citizens League, which calculated the figure. (CNBC)
IN THE NEWS TODAY
Shares of Morgan Stanley (MS) dropped 1.2% in the premarket after the bank reported Thursday morning better-than-expected earnings and revenue in the second quarter on strength in equities trading and investment banking. (CNBC)
UnitedHealth (UNH) on Thursday morning reported quarterly earnings that beat expectations. The largest U.S. health insurer also raised its full-year earnings target. The Dow stock fell 0.4% in premarket trading. (CNBC)
Shares of AMC Entertainment (AMC) dropped another 6% in Thursday's premarket, indicating a fifth straight session of losses, one day after dropping 15%. The volatile meme-stock has lost a total of 30% over the past four down sessions. As of Wednesday's close, AMC shares have lost more than half of their value after hitting an all-time of $72.62 on June 2. (CNBC)
GameStop (GME), the original meme stock, has fallen more than 21% this month, and it continued to so in the premarket as the reality of bubble-like rallies and failing businesses started to become apparent for Reddit-obsessed investors. However, for 2021, AMC was still up more than 1,450% and GameStop was up nearly 800%.
General Motors (GM) is telling owners of 2017-2019 Bolt EVs that were part of a recent recall not to park their vehicles inside or charge them unattended overnight. The warning comes after two Bolt EVs caught fire. Those vehicles had been repaired as part of a recall of nearly 69,000, which were flagged for fire risks. (CNBC)
Johnson & Johnson (JNJ) is recalling some batches of its Neutrogena and Aveeno spray sunscreen products after benzene was found in some samples. J&J said benzene, which can potentially cause cancer, is not used in the manufacture of the products and it's investigating how it wound up in some of them. (Reuters)
Netflix (NFLX) hired former Facebook executive Mike Verdu to lead its video games unit, as it steps up efforts to grow beyond its flagship video streaming business. Prior to his two years at Facebook, Verdu worked at gaming companies Electronic Arts, Kabam, Zynga and Atari, dating back to the late 1990s. (CNBC)
Coca-Cola (KO) changed the flavor of its soda in 1985 and enraged a nation. Now, the company is doing it again. This time, it is changing the taste and look of one of its most popular soft drinks: Coke Zero, the diet spinoff that's supposed to closely resemble the sugary version of "classic" Coke. (NY Times)
As Congress considers making the greatest single investment in passenger rail in U.S. history, a bipartisan group led by three former transportation secretaries is trying to mobilize support for a $205 billion infusion of funding for new high-speed rail projects around the country. (WSJ)
STOCKS TO WATCH
American International Group (AIG) shares surged 5% in premarket trading after it announced a deal to sell a 9.9% stake in its life insurance and retirement services unit to Blackstone (BX) for $2.2 billion. The deal also calls for Blackstone to manage an initial $50 billion in assets backing AIG's life insurance policies and annuities, increasing to about $100 billion over the next six years.
Bank of NY Mellon (BK) beat estimates by 13 cents with quarterly earnings of $1.13 per share and revenue topping estimates as well. Its board also reauthorized the repurchase of up to $6 billion in common stock.
Truist Financial (TFC), which resulted from the 2019 merger of SunTrust and BB&T, reported an adjusted quarterly profit of $1.55 per share, beating the $1.19 consensus estimate, while revenue also came in above Wall Street projections. Results were helped by strong fee and wealth management income, among other factors.
US Bancorp (USB) earned $1.28 per share for the second quarter, 14 cents above estimates, with revenue beating estimates as well. Its results got a boost from an improving economy which helped boost credit and debit card revenue and allowed it to lower its credit loss provision.
Norton LifeLock (NLOK) is in talks to buy fellow cybersecurity firm Avast, in a deal that would expand Norton's presence in consumer software. Avast said the two sides were in advanced discussions about a possible cash-and-stock deal. Norton LifeLock fell 2.6% in the premarket.
CONTRIBUTORS
Matthew J. Belvedere
@Matt_Belvedere
Peter Schacknow
@peterschack
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PURPOSE: The purpose of this board is to post breaking news releases on NASDAQ, AMEX, and NYSE issues. We are looking for news that has the potential to move the particular stock in either direction. Please post a link for verification when possible.
FORMAT: For the initial post, please begin your post with the ticker, current SP, news, comments and your entry if you wish.
PRIMARY FOCUS: The primary focus will be news releases, which, of course, includes earnings plays, and can encompass run-ups as well as aftershocks to the news releases.
SECONDARY FOCUS: Your actual trades, share structure, charts, technical analysis, fundamental analysis, due diligence; all are very welcome topics for discussion.
STYLE: Long or Short, you are welcome here. We do intraday, short term, swing trades, continuation, and long term plays. Option trades and strategies are welcome. No limits, really.
Do not post OTCBB, PINKIES, or GREY SHEET ISSUES, they will be deleted. There will be no exceptions to this. No spamming or pumping will be tolerated.
GAPPER/TANKER DISCUSSION STARTS ANYTIME, NO OTCBB OR PINKIES
For fun, each afternoon, we like to each pick a stock that we believe has the potential to gap up or tank down the next day. Feel free to participate. No prizes offered, just a bit of friendly competition, and, who knows, we might all profit from it, as well. At least, that's the plan. Enjoy.
1. All entries MUST be in between 12:00:00am and 3:50:59pm IHUB time on the preceding trading day.
2. Each participant may enter one ticker symbol in each contest, but that player may NOT put the same stock in both contests.
3. The entry post MUST begin with the word 'Gapper'; or the word 'Tanker'. Please post your picks either in separate posts OR put them both on the same line.
4. The entry post should contain a brief explanation of the reasoning behind the pick.
5. Once a Gapper or a Tanker is chosen, it may not be changed. (Please, no editing once posted.)
6. In the case of duplications, the earlier post is the holder of that Gapper or Tanker pick.
7. All listed stocks and ETF's are eligible, except leveraged ETF's, and stocks under $1.
8. A duplication error can be remedied with an alternate pick (follow the usual protocol).
Winners of the GAPPER or TANKER contests will be determined by the actual gap on that day, i.e., today's opening price minus the previous day's closing price, converted to a percentage. The gap must be at least 3% to be considered as a winning entry.
Links to past daily contest results:
2012
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=82936477
2011
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=70416259
2010
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=58312402
2009
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=45046090
Links to past Hall of Fame/Shame results:
2012
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=82936515
2011
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=70416280
2010
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=58312388
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=58312394
==========================================================================
MARKET CLOSURES FOR 2014:
The 2014 holiday schedule for NASDAQ is as follows:
Coming soon....
MARKET SCHEDULE http://www.nasdaq.com/about/schedule.stm
SECTOR LINKS (COURTESY OF MADROSE1:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=66467590
HOW TO POST A CHART USING A TEMPLATE
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=45870564
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=58712235
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