Good morning traders of the r/StockMarket sub! Welcome to Thursday! Here are your pre-market stock movers & news this AM-
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Frontrunning: December 6th
- Canada arrested Huawei's CFO in Vancouver, where she is facing extradition to the United States. The shock arrest of Meng Wanzhou, the daughter of Chinese tech giant Huawei's founder, is riling authorities in Beijing. (CNBC & Reuters)
- Arrest of Huawei CFO shows 'the gloves are now fully off,' says Eurasia Group (CNBC)
- President Donald Trump called on China to seek the death penalty for distributors of fentanyl, a synthetic opioid linked to thousands of deaths in the United States each year. China is the largest source of the drug. (CNBC)
- Why states might start taxing opioids (Axios)
- Mike Bloomberg, owner of Bloomberg LP, said he will likely try to sell his company if he becomes president. It would probably fetch more than $40 billion in a sale, according to two investment bankers familiar with its finances. (CNBC)
- Former President George H.W. Bush's body was carried inside St. Martin's Episcopal Church in Houston yesterday. And mourners, some dressed in their finest and some in the clothing of blue-collar workers, paid final respects. (USA Today)
- A weather system that's gaining strength in California will become a powerful six-day, coast-to-coast storm, the National Weather Service said. At least a dozen states are expected to see snow and more than 20 will see rain. (USA Today)
- Artie Starrs, president of Pizza Hut U.S., told investors he is "dissatisfied" with the company's growth as same-store sales lag. It committed $130 million in 2017 to improve Pizza Hut's equipment, technology and advertisements. (CNBC)
- Google plans to kill chat app Allo by the middle of next year, it said in a blog post, confirming a report. The app will stop work in March 2019, at which point users will have to download any conversations they want to save. (CNBC)
- SpaceX CEO Elon Musk shared video of the company's rocket booster splashing down just off the Florida coast after missing its intended target. Musk tweeted that the rocket "appears to be undamaged" and "is transmitting data." (CNBC)
- The U.K. Parliament have released internal Facebook (FB) emails. Lawmakers say they show how execs, including CEO Mark Zuckerberg, gave some developers special access to user data and contemplated charging for access. (WSJ)
STOCK FUTURES NOW:
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TUESDAY'S MARKET HEAT MAP:
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TODAY'S MARKET HEAT MAP:
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TUESDAY'S S&P SECTORS:
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TODAY'S S&P SECTORS:
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TODAY'S ECONOMIC CALENDAR:
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THIS WEEK'S ECONOMIC CALENDAR:
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THIS WEEK'S UPCOMING IPO'S:
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THIS WEEK'S EARNINGS CALENDAR:
($LULU $MOMO $AVGO $AZO $DG $OKTA $ULTA $KR $FIVE $COUP $DOCU $FNSR $RH $MRVL $CLDR $RMR $AEO $BMO $SIG $HPE $TOL $ZS$MDB $THO $PLCE $GMS $HDS $OLLI $PDCO $HQY $AOBC $MOV $SMAR $BNED $DLTH $HOME $CONN $MIK $GIII $AVYA $BIG $FGP)
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THIS MORNING'S PRE-MARKET EARNINGS CALENDAR:
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N/A.
THIS AFTERNOON'S POST-MARKET EARNINGS CALENDAR:
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T.B.A.
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:
- SPY
- AMZN
- QQQ
- DJIA
- TVIX
- KR
- MOMO
- CLDR
- MNK
- TSLA
- THO
- MEI
- PLCE
- OKTA
- APH.CA
- GIII
- ULTA
- LULU
- AVGO
- GCO
- VXX
- LE
- AAPL
- SGU
- NTLA
- SJI
- SIG
- FB
- SUPN
- FIVE
THIS MORNING'S STOCK NEWS MOVERS:
(source: cnbc.com)
Facebook – Stifel Nicolaus cut its rating on the stock to “hold” from “buy,” saying that Facebook’s management team has created too many adversaries to avoid a long term negative impact on its business.
STOCK SYMBOL: FB
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Alphabet, Twitter – Guggenheim initiated coverage on both stocks with “buy” ratings, citing Twitter’s large user base and efforts to improve its platform. In Alphabet’s case, Guggenheim said the rating was a combination of financial health, talented employees, and intellectual property.
STOCK SYMBOL: GOOGL
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STOCK SYMBOL: TWTR
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Mallinckrodt – The British drug maker announced plans to spin off its specialty generics business to shareholders as a separate publicly traded company. The spin-off company will take the Mallinckrodt name, while the remaining specialty pharmaceuticals operation will be renamed.
STOCK SYMBOL: MNK
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Signet Jewelers – The jewelry retailer lost $1.06 per share for its latest quarter, smaller than the loss of $1.10 per share that analysts were anticipating. Revenue beat forecasts, and comparable store sales were up 1.6 percent, compared to a consensus forecast of a 0.1 percent rise.
STOCK SYMBOL: SIG
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Thor Industries – The recreational vehicle maker reported fiscal first quarter earnings of $1.28 per share, below the consensus estimate of $1.67 per share, Revenue was also short of forecasts, but the company said it is confident in the industry’s short and long term fundamentals.
STOCK SYMBOL: THO
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Brown-Forman – The spirits producer matched forecasts with quarterly earnings of 52 cents per share, while revenue fell short of estimates. Brown-Forman said its underlying sales growth was cut two basis points by the impact of tariffs.
STOCK SYMBOL: BF.A
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Deere & Co – The heavy equipment maker raised its quarterly dividend by seven cents to 76 cents per share, an increase of about 10 percent. The new dividend is payable on February 1, 2019 to shareholders of record on December 31.
STOCK SYMBOL: DE
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Wells Fargo – The bank is firing about three dozen managers over the sales scandal that came to light two years ago, according to the Wall Street Journal. The paper said the Office of the Comptroller of the Currency has been briefed on the firings.
STOCK SYMBOL: WFC
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CVS Health – The company said its Caremark pharmacy benefits unit will offer a new “guaranteed net cost” option in 2019, assuring that clients receive all rebates, discounts, and fees paid by drug makers.
STOCK SYMBOL: CVS
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Blackstone – The private equity firm is planning an initial public offering of benefits manager Alight Solutions, according to Reuters. The IPO could be valued at more than $7 billion, including debt.
STOCK SYMBOL: BX
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Mastercard – The payment network operator increased its quarterly dividend to 33 cents per share from 25 cents, an increase of 32 percent. Mastercard also announced a $6.5 billion share repurchase program.
STOCK SYMBOL: MA
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Northrop Grumman – Northrop Grumman announced a new $3 billion share repurchase authorization, increasing the defense contractor’s total buyback authorization to $4.1 billion.
STOCK SYMBOL: NOC
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Hewlett Packard Enterprise – Hewlett Packard Enterprise reported adjusted quarterly profit of 45 cents per share, two cents above estimates, while the enterprise hardware and software company’s revenue also beat forecasts. Results were driven by stronger demand for storage and data center products.
STOCK SYMBOL: HPE
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Marvell Technology – Marvell came in one cent ahead of estimates with adjusted quarterly profit of 33 cents per share, with revenue also above estimates. However, the semiconductor maker also issued lower than expected current quarter guidance.
STOCK SYMBOL: MRVL
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AIG – The insurance giant named Mark Lyons as its new chief financial officer, replacing Sid Sankaran, but did not specify why the move was made. Lyons joined the insurer in June as senior vice president and chief actuary for general insurance.
STOCK SYMBOL: AIG
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Yum Brands – The restaurant chain operator said it expected same-restaurant sales growth of 2-3 percent in 2019, largely above the 2.25 percent consensus estimate of analysts polled by Refinitiv. Separately, the company’s Pizza Hut unit announced the acquisition of online ordering company QuikOrder. Terms of the deal were not disclosed, but Pizza Hut said it was one of its largest acquisitions ever.
STOCK SYMBOL: YUM
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Okta – The identity management software company lost four cents per share for its latest quarter, smaller than the 11 cent loss anticipated by Wall Street analysts. The company also saw revenue beat forecasts, and also gave an upbeat current quarter forecast.
STOCK SYMBOL: OKTA
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Five Below – The company beat estimates by five cents with quarterly profit of 19 cents per share, with the discount retailer’s revenue also beating Street forecasts. Five Below also raised its revenue and earnings guidance.
STOCK SYMBOL: FIVE
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Macy’s – The retailer’s stock was downgraded to “underweight” from “neutral” at Atlantic Equities, which said the Street is too optimistic about Macy’s ability to deliver earnings and sales outperformance.
STOCK SYMBOL: M
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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 Thursday, December 6th, 2018!
Submitted December 06, 2018 at 08:44AM by bigbear0083 https://ift.tt/2PmXod2
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