Good morning traders of the r/StockMarket sub! Welcome to Tuesday! Here are your pre-market stock movers & news this morning-
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Frontrunning: February 6th
- U.S. Dow futures this morning were indicating another nosedive at the open that breach the correction level, defined as a decline of 10 percent over time from recent new highs. Monday was the worst day for the Dow and S&P 500 since August 2011 as well as the biggest single-day point drop for the Dow in history. Futures have been volatile all night and have been positive at various junctures. (CNBC)
- Why the stock market plunged Monday (CNBC)
- White House says it's 'concerned' about stock market drop (CNBC)
- Cramer: Stop yourself from panicking and find the sell-off's opportunities (CNBC)
- The yields on the benchmark 10-year Treasury note and on the 30-year Treasury bond were lower today as investors continued to keep abreast of the volatile trading seen across international and domestic markets. Bond yields move inversely to prices. (CNBC)
- The Cboe Volatility index (VIX), widely considered the best gauge of fear in the market, was higher this morning after doubling during regular market hours Monday. The key market measure jumped above 50, its highest level since August 2015. (CNBC)
- Obscure security linked to stock volatility plummets 80% after hours, sparking worries of bigger market effect (CNBC)
- European stocks reduced some of their earlier losses after tumbling 3 percent in the early hours of today's session amid inflation growth expectations. The pan-European Stoxx 600 was 1.7 percent lower with every sector in the red. (CNBC)
- Economic numbers will get no attention today, but there are a few on the schedule beginning with the December trade deficit at 8:30 a.m. ET. The Labor Department releases its December JOLTS report at 10 a.m., its measure of job opportunities and labor turnover. (CNBC)
- Corporate earnings reports this morning include Dunkin' Brands (DNKN), Emerson (EMR) and General Motors (GM). After the bell reports today include Dow component Walt Disney (DIS), Chipotle Mexican Grill (CMG) and Gilead Sciences (GILD). (CNBC)
- Disney looks expensive ahead of earnings, market watcher says(CNBC)
- Bitcoin fell below $6,000 to its lowest level in more than two months, according to CoinDesk. The move came amid worries of increased regulation. With the decline, it has now lost more than 50 percent for the year so far. (CNBC)
- Over $550 billion wiped off cryptocurrencies since record high (CNBC)
- House GOP lawmakers are proposing a long-term boost to military funding in a short-term spending bill slated for a vote this week. The move is likely to cause tension with some Democrats and complicate plans to keep the government open. (Washington Post)
- President Donald Trump's lawyers have reportedly cautioned him not to take wide-ranging questions from Robert Mueller, the special counsel investigating Russian efforts to influence the 2016 election. Trump has publicly said he wants to interview with Mueller. (NY Times)
- A House panel has voted to release the Democratic rebuttal to the GOP's accusation that the FBI misled a secret surveillance court. President Trump will have a work week's time to decide to release the information publicly. (Washington Post)
- Carter Page on Nunes memo: 'Worse than I could have possibly imagined' (Politico)
- 'Treasonous': Trump goes after Dems who didn't clap during State of the Union (CNBC)
- Vice President Mike Pence was heading to the Winter Olympics in South Korea today. During Pence's visit, Washington wants to keep the focus on North Korea's disregard for calls to halt its nuclear program and convince allies to keep up pressure. (Reuters)
- Elon Musk said SpaceX's new Falcon Heavy rocket is unlikely to carry humans to the moon or deeper into outer space. Instead, the company said it will focus on developing an even larger booster announced last year. (WSJ)
STOCK FUTURES NOW:
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YESTERDAY'S MARKET HEAT MAP:
(CLICK HERE FOR YESTERDAY'S MARKET HEAT MAP!)
YESTERDAY'S S&P SECTORS:
(CLICK HERE FOR YESTERDAY'S S&P SECTORS CHART!)
TODAY'S ECONOMIC CALENDAR:
(CLICK HERE FOR TODAY'S ECONOMIC CALENDAR!)
THIS WEEK'S ECONOMIC CALENDAR:
(CLICK HERE FOR THIS WEEK'S ECONOMIC CALENDAR!)
THIS WEEK'S IPO'S:
(CLICK HERE FOR THIS WEEK'S IPO'S!)
THIS WEEK'S EARNINGS CALENDAR:
($NVDA $TSLA $TWTR $SWKS $SNAP $DIS $ATVI $GILD $GM $CMG $BMY $AGN $TEVA $TTWO $BP $COHR $SYY $REGN $NTES $FEYE $ARNC$CVS $EXPE $SKX $HES $BAH $CMI $OCLR $GOLD $CHD $IRBT $LITE $GRUB $CTLT $GOOS $HAS $KORS $MCY $TRVG $ONVO $PM)
(CLICK HERE FOR THIS WEEK'S EARNINGS CALENDAR!)
THIS MORNING'S PRE-MARKET EARNINGS CALENDAR:
($GM $AGN $BP $CMI $LITE $CNC $DNKN $CMCO $EMR $ACM $AGCO $ATKR $WCG $VSH $SAVE $ARW $BDX $ADM $ARMK $ABC $ARRY $LII$IT $FIS $LH $ENTG $SPGI $LABL $GPK $TPR $AXTA $TECH $IRMD $CTS $HAE $CEVA $VSM $DLHC $ROL)
(CLICK HERE FOR THIS MORNING'S EARNINGS CALENDAR!)
EARNINGS RELEASES BEFORE THE OPEN TODAY:
(CLICK HERE FOR THIS MORNING'S EARNINGS RELEASES LINK #1!)
(CLICK HERE FOR THIS MORNING'S EARNINGS RELEASES LINK #2!)
EARNINGS RELEASES AFTER THE CLOSE TODAY:
(CLICK HERE FOR THIS AFTERNOON'S EARNINGS RELEASES LINK #1!)
(CLICK HERE FOR THIS AFTERNOON'S EARNINGS RELEASES LINK #2!)
THIS MORNING'S ANALYST UPGRADES/DOWNGRADES:
(CLICK HERE FOR THIS MORNING'S UPGRADES/DOWNGRADES!)
THIS MORNING'S INSIDER TRADING FILINGS:
(CLICK HERE FOR THIS MORNING'S INSIDER TRADING FILINGS!)
TODAY'S DIVIDEND CALENDAR:
(CLICK HERE FOR TODAY'S DIVIDEND CALENDAR LINK #1!)
(CLICK HERE FOR TODAY'S DIVIDEND CALENDAR LINK #2!)
THIS MORNING'S MOST ACTIVE TRENDING DISCUSSIONS:
- TVIX
- SPY
- SVXY
- XIV
- UVXY
- DJIA
- SPX
- VXX
- QQQ
- AGN
- NVDA
- GM
- CMG
- DIA
- CS
- DNKN
- NDX
- SNAP
- HMNY
- CMI
- TPR
- BP
- LH
- EMR
- CFX
- DIS
- SPGI
- FIS
- VMIN
- BDX
THIS MORNING'S STOCK NEWS MOVERS:
(source: cnbc.com)
General Motors – The automaker beat estimates by 27 cents a share, with quarterly profit of $1.65 per share. Revenue also came in above forecasts. GM saw record income for 2017, although it did take a one-time $7.3 billion non-cash charge related to tax reform.
STOCK SYMBOL: GM
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Allergan – The drug company earned an adjusted $4.86 per share for its latest quarter, 12 cents a share above estimates. Revenue was also above forecasts. Allergan was helped by strong sales growth for products like Botox and Juvederm, although it did see a negative impact from the loss of patent exclusivity for some of its other products.
STOCK SYMBOL: AGN
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Tapestry – The company formerly known as Coach earned an adjusted $1.07 per share for its fiscal second quarter, beating the consensus estimate of 89 cents a share. The handbag maker was helped by higher sales for the Coach and Stuart Weitzman brands. Tapestry also raised its full-year forecast.
STOCK SYMBOL: TPR
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Centene – The health insurer beat estimates by 4 cents a share, with adjusted quarterly profit of 97 cents per share. Revenue also topped expectations and Centene raised its full-year forecast, as its Affordable Care Act-related business grows and as it benefits from tax reform.
STOCK SYMBOL: CNC
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WellCare Health – WellCare reported adjusted quarterly earnings of 32 cents per share, 11 cents a share above estimates. Revenue beat forecasts, as well, benefiting from growth in its Medicare and Medicaid business. WellCare raised its full-year forecast due to benefits from the new tax law.
STOCK SYMBOL: WCG
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Becton Dickinson – The medical device maker came in 7 cents a share above estimates, with adjusted quarterly profit of $2.48 per share. Revenue came in above Street projections, helped by strong growth in its life sciences division.
STOCK SYMBOL: BDX
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Dunkin' Brands – The restaurant chain reported adjusted quarterly profit of 64 cents per share, 1 cent a share above estimates. Revenue beat forecasts and the company raised its quarterly dividend by 7.75 percent to 34.75 cents per share.
STOCK SYMBOL: DNKN
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SandRidge Energy – Midstates Petroleum proposed a combination with SandRidge in an all-stock transaction. The proposal comes a few weeks after SandRidge ended a $746 million deal to buy Bonanza Creek Energy following opposition from large shareholders including Carl Icahn.
STOCK SYMBOL: SD
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Lululemon – Lululemon stock is under pressure, following the sudden surprise resignation of CEO Laurent Potdevin, with the yogawear maker only saying he had "fallen short of the company's standards of conduct." No further details were given.
STOCK SYMBOL: LULU
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BP – BP posted better than expected profits which were more than double year earlier levels. BP's results were helped by higher prices and production, and the energy giant resumed share buybacks after a three-year hiatus.
STOCK SYMBOL: BP
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Toyota – Toyota raised its full year profit forecast by 10 percent, following a quarterly operating profit that was its best in two years. The automaker's results were helped both by stronger sales in Japan and a weaker yen.
STOCK SYMBOL: TM
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Cirrus Logic – Cirrus reported earnings and revenue that fell below Street forecasts, with weaker smartphone sales a key factor. Cirrus supplies chips that are used in Apple's iPhones.
STOCK SYMBOL: CRUS
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Pfizer – Pfizer reported upbeat results in a study involving its Xtandi cancer drug to treat early stage prostate cancer. The drug maker said using Xtandi in combination with standard hormone therapy reduced the risk of the disease spreading by 71 percent compared with just using hormone therapy.
STOCK SYMBOL: PFE
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Skyworks Solutions — Skyworks reported earnings that topped Street forecasts as well as announcing a new stock buyback program. However, the chipmaker and Apple supplier did issue an outlook that is shy of consensus estimates.
STOCK SYMBOL: SWKS
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Logitech – Logitech was downgraded to "underweight" from "neutral" at JPMorgan Chase, which cited valuation and cut its price target on the computer peripheral device maker's stock to $40 from $43.
STOCK SYMBOL: LOGI
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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, February 6th, 2018! :)
Submitted February 06, 2018 at 08:45AM by bigbear0083 http://ift.tt/2BcKcEd
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