Good morning traders of the r/StockMarket sub! Welcome to Wednesday! Here are your pre-market stock movers & news this morning-
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Frontrunning: January 3
- President Trump last night said that his "nuclear button" is "much bigger and more powerful" than the one controlled by North Korea's Kim Jong-Un. Earlier, Kim had said that the North's nuclear weapons can reach anywhere in the U.S. (CNBC)
- North Korea reopens cross-border talks with South Korea (AP)
- Trump has escalated tensions with Democratic leaders over the fate of young undocumented immigrants known as "dreamers". He claimed lawmakers were "doing nothing" to protect them from deportation, even though he ended the program. (Washington Post)
- Homeland chief: Wait and see on citizenship for immigrants (AP)
- Trump to announce "most dishonest" and "corrupt media awards" next week (USA Today)
- Former Massachusetts Gov. Mitt Romney changed his Twitter location from Massachusetts to Utah. Romney is reportedly considering a run for the open seat in Utah after Sen. Orrin Hatch announced his retirement. (Axios)
- A record-shattering freeze kept its grip on much of the eastern U.S. this morning, causing at least eight deaths and closing schools. Forecasters warned of a storm that could slam some areas with blizzard conditions later this week. (AP)
- Amazon (AMZN) is in talks to let companies promote their products on Alexa, sources tell CNBC. Ads will focus on sponsorship opportunities within skills or use data about a buyer's shopping history to suggest products.
- Spotify was sued by Wixen Music Publishing last week for allegedly using thousands of songs without a license. Wixen, an exclusive licensee of songs from artists including Tom Petty and Stevie Nicks, is seeking damages worth at least $1.6 billion along with injunctive relief. (Reuters)
- Vice has suspended two top executives after a New York Times report on sexual misconduct at the digital media company. The company put its president, Andrew Creighton, and Chief Digital Officer Mike Germano on leave. (AP)
STOCK FUTURES NOW:
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YESTERDAY'S MARKET HEAT MAP:
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YESTERDAY'S S&P SECTORS:
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TODAY'S ECONOMIC CALENDAR:
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THIS WEEK'S ECONOMIC CALENDAR:
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THIS WEEK'S IPO'S:
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NONE.
THIS WEEK'S EARNINGS CALENDAR:
($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:
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EARNINGS RELEASES AFTER THE CLOSE TODAY:
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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:
- AMD
- INTC
- NFLX
- JPM
- CRSP
- GE
- CMC
- MLNX
THIS MORNING'S STOCK NEWS MOVERS:
(source: cnbc.com)
Alibaba – Alibaba's Ant Financial Services affiliate has ended its agreement to buy payment services company MoneyGram, following objections by federal regulators. The companies were unable to garner the approval of the Committee on Foreign Investment in the United States, which reviews acquisitions by foreign entities for possible national security risks.
STOCK SYMBOL: BABA
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IBM – IBM was upgraded to "outperform" from "sector perform" at RBC Capital Markets, which also raised its price target on the stock to $180 from $160. RBC sees both cyclical and secular drivers that could improve IBM's performance, among them: a new cycle of mainframe purchases, as well as currency tailwinds that haven't been seen for a number of years.
STOCK SYMBOL: IBM
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American Express – Deutsche Bank began coverage on the financial services giant with a "buy" rating, noting benefits from tax reform and a cutback in federal regulation. The bank cites similar reasons in issuing a "buy" rating on Discover Financial Services.
STOCK SYMBOL: AXP
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Alexion Pharmaceuticals – Alexion will work with activist investor Elliott Management on filling a board seat. Elliott has built a stake in the drugmaker and has been pushing for changes.
STOCK SYMBOL: ALXN
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American Airlines Group, Southwest Airlines – The airlines both announced that they would give employees a $1,000 bonus due to the new tax law and a lower corporate tax rate. Southwest also announced an increased fleet investment with jetmaker Boeing, as well as a $5 million charitable donation.
STOCK SYMBOL: AAL
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STOCK SYMBOL: LUV
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Valeant Pharmaceuticals – Valeant and investor Bill Ackman have been asked to appear in court January 16 to discuss a proposed settlement in an insider trading lawsuit involving trading in Allergan shares. The court said it has questions about whether a proposed $290 settlement is reasonable and fair.
STOCK SYMBOL: VRX
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Apartment Investment & Management Co. – The apartment REIT had its lawsuit against Airbnb dismissed by a U.S. district court. Aimco had claimed that Airbnb – which specializes in short-term rentals – allowed tenants to break leases through unauthorized sublets.
STOCK SYMBOL: AIV
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Novartis – The drugmaker received a "breakthrough therapy" designation for its breast cancer treatment Kisqali. The designation grants priority review to drugs with promising results in clinical trials.
STOCK SYMBOL: NVS
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Charter Communications – Guggenheim upgraded the cable operator to "buy" from "neutral," saying Charter not only has an attractive customer footprint but also will benefit from tax perform and lighter regulation.
STOCK SYMBOL: CHTR
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General Mills – Piper Jaffray upgraded the food company's stock to "neutral" from "underweight," pointing to higher quality brand launches and benefits from corporate tax reform.
STOCK SYMBOL: GIS
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Oracle – Morgan Stanley upgraded the stock to "overweight" from "equal-weight," saying the stock is undervalued after some disappointing cloud-related results in recent quarters.
STOCK SYMBOL: ORCL
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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 Wednesday, January 3rd, 2018! :)
Submitted January 03, 2018 at 08:19AM by bigbear0083 http://ift.tt/2CjS70b
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