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Thursday, 01/13/2022 10:22:42 AM

Thursday, January 13, 2022 10:22:42 AM

Post# of 648882
CNBC

U.S. stock futures rose slightly Thursday ahead of what's expected to be another hot inflation report. The Nasdaq edged higher Wednesday, led by tech stocks rebounding for a third straight session. The Dow Jones Industrial Average and the S&P 500 eked out gains for a second day in a row, with each ending Wednesday less than 1.5% away from last week's record closes. The Nasdaq finished Wednesday 5.4% away from its latest record close in November. (CNBC)

* Profits for S&P 500 companies rose nearly 50% in 2021, estimates show (CNBC)

The government's December data on the producer price index, set for release at 8:30 a.m. ET on Thursday, is expected to show a year-over-year rise of 9.8%. The November PPI, a measure of wholesale inflation, rose 9.6% year over year at the fastest clip on record. Thursday's report comes after December's consumer price index rose 7% year over year at the quickest pace since June 1982 but matched estimates. (CNBC)

Also at 8:30 a.m. ET, the Labor Department is scheduled to release its Thursday look at initial jobless claims. Economists expect a total of 200,000 first-time filings for unemployment benefits for the week ended Jan. 8. That would be down by 7,000 from the prior week, which showed data well anchored around a level that's even lower than before the Covid pandemic, when new claims were averaging around 215,000. (CNBC)

Delta Air Lines (DAL) shares rose more than 1.5% in the premarket after the carrier on Thursday posted its highest quarterly revenue since late 2019. Fourth-quarter earnings also beat estimates. Delta said it expects a first-quarter loss, blaming the Covid omicron variant. However, the airline still sees a travel demand rebound further down the road and a profit this year. (CNBC)

Looking ahead, global alternative asset management firm TPG (TPG) is set to debut on the Nasdaq on Thursday, the morning after pricing its initial public offering at $29.50 per share, the middle of the expected range. (Press Release).


IN THE NEWS TODAY


Moderna (MRNA) expects to report data by March from its Covid vaccine trials involving children aged 2 to 5. If the study is supportive, the company said it would then file for emergency approval for vaccinating that age group. Moderna shares were modestly lower in the premarket. (Reuters)

* Omicron disrupts transit, emergency services as workers call out sick (CNBC)

STOCKS TO WATCH

KB Home (KBH) reported quarterly earnings of $1.91 per share, 14 cents above estimates, although the home builder's revenue was slightly below analyst forecasts. KB Home also issued a positive outlook for 2022, and its stock surged 7.7% in premarket trading.

Lennar (LEN) increased its dividend by 50%, raising its annual payout to $1.50 per share from $1.00. The home builder's next quarterly dividend of 37.5 cents per share will be paid on February 10 to shareholders of record as of January 27. The stock added 2.4% in the premarket.
Boeing's (BA) 737 MAX jet could resume service in China as soon as this month, according to a Bloomberg report. Boeing added 2.6% in the premarket.

Virgin Orbit (VORB) Virgin is scheduled later today to launch its first commercial satellite since going public. The stock added 2.1% in the premarket after falling 5.8% in Wednesday trading.

Taiwan Semiconductor (TSM) reported record quarterly profit, with the chipmaker beating analyst forecasts while also issuing an upbeat outlook amid surging demand for semiconductors. The stock rallied 3.8% in the premarket.


CONTRIBUTORS

Matthew J. Belvedere
@Matt_Belvedere

Peter Schacknow
@peterschack

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