Good morning traders of the r/StockMarket sub! Happy Wednesday to ya! Here are your stock market movers & news for today-
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Frontrunning: March 22
- U.S. stock futures slip as concerns mount over delays to Trump tax cuts (Reuters)
- Global Markets Follow U.S. Stocks Lower (WSJ)
- Gorsuch, Avoiding Pitfalls, Moves Closer to Approval (WSJ)
- Trump, Koch brothers at odds over 'Trumpcare' vote (Reuters)
- Manafort's plan to 'greatly benefit the Putin Government' (AP)
- Ryan Is Tested by Republicans’ Civil War (WSJ)
- North Korea missile test fails, U.S. and South say, as tensions simmer (Reuters)
- Pillar of Trump Rally Fractures as Banks Sink Most Since Brexit (BBG)
- Iron Ore Takes a Battering as Bear Market Engulfs China (BBG)
- Trump’s Environmental Spending Cuts Could Cost Republican Districts Billions (BBG)
- As E-Sports Grows, Videogame Companies Battle Cheaters (WSJ)
- Uber Pledges to Fix the Company’s ‘Cult of the Individual’ (BBG)
- It’s Illegal for Uber Drivers to Accept Tips in Some States (BBG)
- PPG Increases Bid for Akzo to $24 Billion; Offer Is Rejected (WSJ)
- Portugal PM demands Dijsselbloem step down over 'xenophobic' remarks (Reuters)
- Libor Mastermind Tom Hayes Deserves a Lot of Company in Prison (BBG)
STOCK FUTURES NOW:
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YESTERDAY'S MARKET HEAT MAP:
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YESTERDAY'S S&P SECTORS:
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TODAY'S ECONOMIC CALENDAR:
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THIS WEEK'S IPO'S:
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THIS WEEK'S EARNINGS CALENDAR:
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THIS MORNING'S PRE-MARKET EARNINGS CALENDAR:
(CLICK HERE FOR THIS MORNING'S PRE-MARKET EARNINGS CALENDAR!)
EARNINGS RELEASES BEFORE THE OPEN TODAY:
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EARNINGS RELEASES AFTER THE CLOSE TODAY:
(CLICK HERE FOR THIS AFTERNOON'S EARNINGS RELEASES!)
THIS MORNING'S ANALYST UPGRADES/DOWNGRADES:
(CLICK HERE FOR THIS MORNING'S UPGRADES/DOWNGRADES!)
THIS MORNING'S MOST ACTIVE TRENDING DISCUSSIONS:
- SPY
- NKE
- SHLD
- FDX
- AKS
- BAC
- AYA
- WGO
- UVXY
- DLTH
- MDRX
- AAL
- CALA
- PPG
- CNK
- PM
- TASR
- OPK
- TWTR
- AGN
- DIA
- STM
- ATVI
- JPM
- QQQ
THIS MORNING'S STOCK NEWS MOVERS:
(source: cnbc.com)
American Airlines Group – Morgan Stanley downgraded the airline's stock to "equal-weight" from "overweight", in a report that downgraded the industry as a whole to "in-line." Morgan Stanley is concerned about increases in capacity, with American being especially aggressive at the same time its margins are below average.
STOCK SYMBOL: AAL
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Urban Outfitters – KeyBanc upgraded the apparel retailer to "overweight" from "sector weight," citing the company's well-positioned and differentiated stores, as well as a reasonable number of total stores.
STOCK SYMBOL: URBN
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Nike – Nike reported quarterly profit of 68 cents per share, 15 cents a share above estimates. The athletic footwear and apparel maker's revenue was slightly below forecasts, however, hit by competition and a strong dollar. The company also gave a weaker-than-expected reading of future orders.
STOCK SYMBOL: NKE
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FedEx – FedEx missed estimates by 27 cents a share, reporting adjusted quarterly profit of $2.35 per share. Revenue was essentially in line with expectations. The delivery company said it handled fewer packages than expected from its largest retail customers during the holiday season, after increasing resources in anticipation of a holiday surge. Investors were encouraged, however, by optimistic comments about the company's profit margins.
STOCK SYMBOL: FDX
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Sears Holdings — Sears issued a warning about its ability to continue as a going concern. The retailer's annual report said "substantial doubts exist" about its future after losing money year after year and seeing sales decline.
STOCK SYMBOL: SHLD
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Winnebago Industries – The recreational vehicle maker beat estimates by three cents a share, with quarterly profit of 48 cents per share. Revenue was well above forecasts. The company credits a more balanced portfolio and greater scale, among other factors.
STOCK SYMBOL: WGO
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Perry Ellis – The apparel maker fell a penny shy a share of Street forecasts, with quarterly profit of 59 cents per share. Revenue fell well short of estimates. The company is also forecasting a full-year profit range of $2.07 to $2.17 per share, mostly below the consensus estimate of $2.16 a share. Perry Ellis noted that many customers cut back shipments due to a challenging retail environment.
STOCK SYMBOL: PERY
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Novartis – The drugmaker said its experimental heart failure drug Serelaxin failed to produce the desired results in a late-stage trial.
STOCK SYMBOL: NVS
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PPG Industries – PPG saw its second unsolicited bid for rival paint producer AkzoNobel rejected by the Dutch company. AkzoNobel issued a statement saying the new bid undervalues the company and does not address risks for shareholders. Major shareholder Elliott Management said AkzoNobel was right to reject the latest offer but wants the company to engage with PPG about revising the bid.
STOCK SYMBOL: PPG
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Snap – Snap was rated "buy" in new coverage at Drexel Hamilton, which praised the Snapchat parent's view of itself as a camera company and that its platform is so ingrained with millennials that competitors will have a difficult time matching it.
STOCK SYMBOL: SNAP
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Avon Products – The household products maker is undergoing a revamp of its North American business, led by Cerberus, which took over control of the North American operations last year. Cerberus executive Steven Mayer told The Wall Street Journal this will include the elimination of some products that have been sold by Avon for decades.
STOCK SYMBOL: AVP
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Bebe Stores –The fashion retailer plans to close all its brick and mortar stores and concentrate on online sales, according to a Bloomberg report.
STOCK SYMBOL: BEBE
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Duluth Holdings – The Duluth Trading parent reported quarterly profit of 43 cents per share, beating estimates by nine cents a share. The casual wear maker's revenue also beat forecasts, with the company saying it was able to overcome the effects of unseasonably warm weather in early December.
STOCK SYMBOL: DLTH
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DISCLOSURE:
/u/bigbear0083 has no positions in any stocks mentioned. Reddit, moderators, and the author do not advise making investment decisions based on discussion in these posts. Analysis is not subject to validation and users take action at their own risk. /u/bigbear0083 is an admin at the financial forums Stockaholics.net where this content was originally posted.
DISCUSS!
What is on everyone's radar for today's trading day ahead here at r/StockMarket?
Hope you all have a wonderful trading day ahead here on this Wednesday, March the 22nd! :)
Submitted March 22, 2017 at 08:56AM by bigbear0083 http://ift.tt/2nBlcjG
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