Good morning traders of the r/StockMarket sub! Happy first trading day of 2018! Here are your pre-market stock movers & news this morning-
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Frontrunning: January 2
- President Donald Trump issued a strong statement of support for protesters in Iran as a crackdown intensified against anti-government demonstrations. Police have arrested more than 450 people and there have been at least 20 deaths. (WSJ & Reuters)
- Democrats in high-tax states are reportedly plotting to blunt the impact of the Republicans' newly passed tax bill. Officials object to the law's cap on state and local tax deductions, in particular, which were previously unlimited. (NY Times)
- New year, new tax brackets. Here's where you stand (CNBC)
- Bone-chilling cold gripped much of the central U.S. as 2018 began this week, breaking century-old records, icing over some New Year's celebrations and leading to at least two deaths attributed to exposure to the elements. (AP)
- Powerful Hollywood women have formed an initiative called "Time's Up" to fight systemic sexual harassment in Hollywood and in blue collar workplaces nationwide. It came after a number of sexual misconduct allegations against men in the entertainment industry. (NY Times)
- Chicago, the nation's third-largest city, ended 2017 with 650 murders, 15 percent fewer than a year earlier. It's a sign of improvement as Trump has ridiculed Chicago officials for doing too little to stem the violence. (USA Today)
- South Korea today offered talks with North Korea amid a standoff over the latter's weapons program. It came a day after Kim Jong Un said he was open to negotiations, but that his country would push ahead with "mass producing" nuclear warheads. (Reuters)
- Kim Jong Un declares North Korea is a nuclear power, says 'button' is on his desk (AP) Immigration desk computers at various airports went down for about two hours Monday, which caused long lines for travelers coming into the U.S. Customs gave no explanation for the disruption and said travelers were processed using alternative procedures. (Reuters)
STOCK FUTURES NOW:
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FRIDAY'S MARKET HEAT MAP:
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FRIDAY'S S&P SECTORS:
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TODAY'S ECONOMIC CALENDAR:
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THIS WEEK'S ECONOMIC CALENDAR:
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THIS WEEK'S IPO'S:
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NONE.
THIS WEEK'S EARNINGS CALENDAR:
($RAD $WBA $STZ $MON $CMC $UNF $NEOG $RPM $LW $ANGO $SONC $CALM $GBX $RECN $LNDC $AEHR $PSMT $FC)
(CLICK HERE FOR THIS WEEK'S EARNINGS CALENDAR!)
THIS MORNING'S PRE-MARKET EARNINGS CALENDAR:
()
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NONE.
EARNINGS RELEASES BEFORE THE OPEN TODAY:
([CLICK HERE FOR THIS MORNING'S EARNINGS RELEASES!]())
NONE.
EARNINGS RELEASES AFTER THE CLOSE TODAY:
([CLICK HERE FOR THIS AFTERNOON'S EARNINGS RELEASES!]())
NONE.
THIS MORNING'S ANALYST UPGRADES/DOWNGRADES:
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THIS MORNING'S INSIDER TRADING FILINGS:
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TODAY'S DIVIDEND CALENDAR:
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THIS MORNING'S MOST ACTIVE TRENDING DISCUSSIONS:
- GPRO
- CRCM
- TIVO
- SBGL
- SVXY
- MJX
- JNUG
- BGNE
THIS MORNING'S STOCK NEWS MOVERS:
(source: cnbc.com)
Johnson & Johnson – The stock was downgraded to "neutral" from "overweight" at JPMorgan Chase. The firm's view on J&J is still upbeat, but it sees more upside potential in other large-cap names.
STOCK SYMBOL: JNJ
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Lennar – Wells Fargo upgraded the home builder to "outperform" from "market perform," citing both tax law changes and prospects for improved profits from its planned purchase of CalAtlantic.
STOCK SYMBOL: LEN
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Abbott Labs – The drugmaker was upgraded to "overweight" from "neutral" at JPMorgan Chase, and also received upgrades from Morgan Stanley and Guggenheim. Analysts are encouraged by the prospects for Abbott's product pipeline.
STOCK SYMBOL: ABT
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BP — The British energy giant said it expected a positive impact on earnings from changes in U.S. tax law.
STOCK SYMBOL: BP
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Las Vegas Sands, Wynn Resorts – These and other casino companies with operations in Macau could benefit, following news that gaming revenue in the Chinese territory rose 19 percent in 2017. That was the first annual revenue gain in three years.
STOCK SYMBOL: LVS
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STOCK SYMBOL: WYNN
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Sears Holdings – Sears has not run any paid national television commercials since late November, according to The Wall Street Journal. The parent of Sears and Kmart has run no national TV ads since late November, compared to $8.4 million a year earlier for the Sears brand and $6.5 million for the company's Kmart division.
STOCK SYMBOL: SHLD
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L Brands – The apparel retailer was upgraded to "outperform" from "neutral" at Baird, which said it believes the Victoria's Secret unit is turning the corner under new leadership.
STOCK SYMBOL: LB
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Altice USA – Altice pulled the Starz and Encore movie channels from its cable lineup after the two sides could not come to an agreement on a new carriage contract.
STOCK SYMBOL: ATUS
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Apple – Apple is offering $29 replacement batteries immediately, a month earlier than planned. That comes after Apple's admission that iOS software may slow down older iPhones in order to prevent spontaneous shutdowns due to battery wear.
STOCK SYMBOL: AAPL
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Alibaba – Alibaba's UC Browser is overtaking Alphabet's Google Chrome in some of Asia's fastest-growing markets, according to The Wall Street Journal. Users tell the paper that the Alibaba browser works better in companies where mobile service is spotty and low-end smartphone use is prominent.
STOCK SYMBOL: BABA
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Genesco – Genesco was upgraded to "buy" from "hold" at Jefferies, which also increased its price target on the specialty retailer's stock to $40 from $27.
STOCK SYMBOL: GCO
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Allstate – Allstate was downgraded to "underperform" from "market perform" at Keefe Bruyette & Woods, which also cut the price target on the insurer's stock to $93 from $103. KBW notes decelerating rate increases and auto segment profit margin pressures.
STOCK SYMBOL: ALL
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Walt Disney – Disney's "Star Wars: The Last Jedi" stayed on top of the holiday weekend box office, ringing up another $68.4 million in North American ticket sales. That brings its domestic total to $533.1 million.
STOCK SYMBOL: DIS
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Nordstrom – The retailer's stock was upgraded to "neutral" from "underweight" at JPMorgan Chase, which notes Nordstrom's strong finish to 2017 and the best holiday season in three years.
STOCK SYMBOL: JWN
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Planet Fitness – The fitness center operator's stock was downgraded to "hold" from "buy" at Jefferies, which calls the shares expensive and said that competition is increasing.
STOCK SYMBOL: PLNT
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Deckers Outdoor – Jefferies cut its rating on the footwear retailer to "hold" from "buy," citing the current valuation and saying that an upbeat winter season for the Uggs maker is already priced in.
STOCK SYMBOL: DECK
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Sirius XM – The satellite radio operator's stock was downgraded to "underweight" from "neutral" at JPMorgan Chase, following the assessment of higher royalty rates beginning this year. JPMorgan feels the higher rates will impact profit margins and possibly subscriber growth rates.
STOCK SYMBOL: SIRI
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FULL 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?
I hope you all have an excellent trading day ahead today on this Tuesday, January 2nd, 2018! :)
Submitted January 02, 2018 at 08:37AM by bigbear0083 http://ift.tt/2q8SJUM
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