Good morning traders of the r/StockMarket sub! Happy Thursday! Here are your stock market movers & news on this Thursday morning-
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Frontrunning: October 13
- Weak China data, stronger dollar send global stocks skidding (Reuters)
- Oil price gains limited by higher OPEC output, U.S. crude stocks (Reuters)
- A Trans-Atlantic Revolt Against Central Bankers (WSJ)
- Wells Fargo CEO Stumpf Quits in Fallout From Fake Accounts (BBG)
- Stumpf’s departure likely to have big consequences for US banks (FT)
- SEC Said to Demand That Cooperman Agree to Hedge Fund Suspension (BBG)
- FBI, DOJ roiled by Comey, Lynch decision to let Clinton slide by on emails, says insider (Fox)
- Frenzy surrounds ‘Apprentice’ tapes (NYT)
- U.S. Launches Strikes on Yemen After Warship Targeted (BBG)
- U.S. lawmaker urges Saudi arms sales halt, cites possible Yemen 'war crimes' (Reuters)
- Kremlin tells Britain: You have to keep our diplomats safe (Reuters)
- Emir instructs 17 ambassadors to return to Qatar (Doha News)
- Haim Saban wants to put Clinton in the White House and take Univision public (BBG)
- UK faces Brexit divorce bill of up to €20bn (FT)
- U.S. military strikes Yemen after missile attacks on U.S. Navy ship (Reuters)
- China corporate raider’s wealth soars ninefold to $17bn (FT)
- Trump Attacks Washington Insiders Over Clinton Emails (WSJ)
- France’s Sapin Says No Doubt Now About Banks Leaving London (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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TODAY'S EARNINGS CALENDAR:
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THIS MORNING'S MOST ACTIVE TRENDING DISCUSSIONS:
- VRX
- OCUL
- GILD
- GPRO
- SPY
- DAL
- UVXY
- TGTX
- HZNP
- WGO
- ESPR
- OMER
- BABA
- WFC
- TSM
- UL
- GDX
- IBB
- SNE
- FE
- NUGT
- NTES
- XIV
- TLT
- NI
THIS MORNING'S STOCK NEWS MOVERS: DAL, WFC, PFE, CSX, K, HOG, NOK, DLTR, FIVE, AMZN, ANF, DECK
Delta Air Lines — The airline reported adjusted quarterly profit of $1.70 per share, beating estimates by five cents a share. However, revenue was below forecasts as the key metric of revenue per available seat mile fell 5.6 percent from a year earlier. Delta also said an August outage cost the airline $100 million.
STOCK SYMBOL: DAL
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Wells Fargo — Chief Executive Officer John Stumpf announced his retirement, effective immediately, following the sales practices scandal that's engulfed the bank over the past few weeks. Chief Operating Officer Tim Sloan will succeed Stumpf as CEO, while lead director Stephen Sanger will take the chairman's slot.
STOCK SYMBOL: WFC
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Pfizer — Jefferies downgraded the drugmaker to "hold" from "buy," due to a lack of catalysts and drivers for a higher stock price. The firm said AbbVie and Eli Lilly remain its top U.S. picks in the drug sector. Separately, Pfizer lost its appeal in a patent case over its pain drug Lyrica in a U.K. court, but said it would seek a further appeal.
STOCK SYMBOL: PFE
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CSX — CSX reported quarterly profit of 48 cents per share, three cents a share above estimates. Revenue for the railroad operator was slightly ahead of forecasts. CSX's results were hurt by a drop in freight volumes, but did manage to beat expectations nonetheless.
STOCK SYMBOL: CSX
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**Kellogg — The cereal maker bought Ritmo Investimentos, the controlling shareholder of Brazilian food company Parati. Kellogg also said it would cut back on stock buybacks this year to "preserve financial flexibility."
STOCK SYMBOL: K
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Harley-Davidson — The motorcycle maker is planning to increase its emphasis on Asian sales, according to Chief Executive Officer Matthew Levatich. He told Reuters he is optimistic about growing the company's business in both existing and new Asian markets.
STOCK SYMBOL: HOG
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Nokia — The wireless technology company was removed from the "Conviction Buy" list at Goldman Sachs, although the firm retained a "buy" rating. Goldman said the move reflects further declines in global capital expenditures by the wireless industry.
STOCK SYMBOL: NOK
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Dollar Tree, Five Below — The two stocks were both rated "overweight" in a new report on discount retailers at KeyBanc, which also rated Dollar General at "sector weight." Keybanc said Dollar Tree is executing well at its legacy stores, as well as successfully turning around the Family Dollar stores it acquired when it bought that company last year. Five Below got praise for good product value, as well as an "exciting shopping experience."
STOCK SYMBOL: DLTR
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STOCK SYMBOL: FIVE
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HCA — HCA was upgraded to "overweight" from "sector weight" at KeyBanc, which pointed to both valuation of the hospital operator's stock and a potential upside catalyst of a more likely Hillary Clinton win in the presidential election.
STOCK SYMBOL: HCA
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Amazon.com — Amazon announced it would hire more than 120,000 seasonal workers for this y year's holiday season. The online retailer noted that more than 14,000 of last year's seasonal hires stayed on as full-time employees.
STOCK SYMBOL: AMZN
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Abercrombie & Fitch — The apparel retailer announced a redefined identity for the Abercrombie & Fitch brand, to be accompanied by its largest-ever ad campaign. It will feature a redesigned website and all new digital advertising.
STOCK SYMBOL: ANF
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Deckers Outdoor — Susquehanna Financial downgraded the footwear maker to "negative" from "neutral," saying the health of its UGG brand is at risk due to an increase in promotional activity.
STOCK SYMBOL: DECK
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Good trading day to everyone in here at r/StockMarket on this Thursday! :)
Submitted October 13, 2016 at 08:48AM by bigbear0083 http://ift.tt/2dP6oer
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