Good morning traders of the r/StockMarket sub! Happy Wednesday to all of you! Here are your pre-market stock market movers & news this morning-
Frontrunning: October 18
- Proponents of a bipartisan deal struck by two senators to stabilize Obamacare were seeking today to win Republican support for the measure, which would restore subsidies to health insurers that President Donald Trump has scrapped. (Reuters)
- Trump appears to support a short-term deal to stabilize health-care markets (CNBC)
- With Obamacare in limbo, insurers brace for drop in enrollment (WSJ)
- Talks to revise the NAFTA will go into next year, top officials say. In a joint statement following the fourth round of talks, officials from the U.S., Canada and Mexico said "significant conceptual gaps" will change the negotiating time frame. (CNBC)
- A federal judge in Hawaii blocked President Trump's latest bid to impose restrictions on citizens from eight countries entering the United States, which had been set to take effect this week. It was supposed to commence at midnight today. (CNBC)
- The top U.S. communications regulator dismissed Trump's suggestionthat the NBC network's broadcast licenses could be pulled after it ran stories the president declared untrue, saying "the FCC under my leadership will stand for the First Amendment." (AP)
- President Trump said Rep. Tom Marino withdrew from consideration for the nation's drug czar, following an investigation that detailed his role in pushing for a law that weakened DEA enforcement during a growing opioid crisis. (CNBC)
- Chinese President Xi Jinping says China supports an open world economy and pledged further liberalization of its market to foreign investors, even as he touted the benefits of a socialist system at the opening of the 19th Communist Party Congress. (CNBC)
- Harvey Weinstein has resigned from the board of The Weinstein Company, as he faces allegations that he sexually harassed or assaulted a number of women over three decades in the film business. (Reuters)
- Amazon (AMZN) said the head of Amazon Studios, Roy Price, resignedfrom that job following his suspension over sexual harassment allegations. He had been put on leave last week after the allegations first surfaced. (CNBC)
- Retailer Kohl's is officially in business with the online shopping giant. Starting today, 10 Kohl's stores in the Los Angeles and Chicago markets will both sell Amazon's smart home products and accept the online retailer's returns. (CNBC)
- JPMorgan Chase (JPM) is buying payments technology company WePay for an undisclosed amount, though a source quoted by the Wall Street Journal said it was above the roughly $220 million valuation that stemmed from a 2015 fundraising round.
- Tesla (TSLA) is trying to disguise layoffs by calling the widespread terminations performance related, allege several current and former employees. One fired employee says direct performance reviews were thrown out and rewritten by upper management. (CNBC)
STOCK FUTURES NOW:
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YESTERDAY'S MARKET HEAT MAP:
(CLICK HERE FOR YESTERDAY'S MARKET HEAT MAP!)
YESTERDAY'S S&P SECTORS:
(CLICK HERE FOR YESTERDAY'S S&P SECTORS CHART!)
TODAY'S ECONOMIC CALENDAR:
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THIS WEEK'S ECONOMIC CALENDAR:
(CLICK HERE FOR THIS WEEK'S ECONOMIC CALENDAR!)
THIS WEEK'S IPO'S:
(CLICK HERE FOR THIS WEEK'S IPO'S!)
THIS WEEK'S EARNINGS CALENDAR:
($NFLX $GE $IBM $GS $UNH $JNJ $LRCX $PYPL $CLF $CSX $MS $VZ $ABT $HOG $BX $PGR $ISRG $ASML $UAL $AA $CMA $EBAY)
(CLICK HERE FOR THIS WEEK'S EARNINGS CALENDAR!)
THIS MORNING'S PRE-MARKET EARNINGS CALENDAR:
($ABT $ASML $USB $NTRS $MTB $UNF $SVU $CTBI $MTG $FCCO $AKZOY $UBSH)
(CLICK HERE FOR THIS MORNING'S EARNINGS CALENDAR!)
EARNINGS RELEASES BEFORE THE OPEN TODAY:
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EARNINGS RELEASES AFTER THE CLOSE TODAY:
(CLICK HERE FOR THIS AFTERNOON'S EARNINGS RELEASES!)
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 LINK #1!)
(CLICK HERE FOR THIS MORNING'S INSIDER TRADING FILINGS LINK #2!)
(CLICK HERE FOR THIS MORNING'S INSIDER TRADING FILINGS LINK #3!)
(CLICK HERE FOR THIS MORNING'S INSIDER TRADING FILINGS LINK #4!)
(CLICK HERE FOR THIS MORNING'S INSIDER TRADING FILINGS LINK #5!)
(CLICK HERE FOR THIS MORNING'S INSIDER TRADING FILINGS LINK #6!)
TODAY'S DIVIDEND CALENDAR:
(CLICK HERE FOR TODAY'S DIVIDEND CALENDAR!)
THIS MORNING'S MOST ACTIVE TRENDING DISCUSSIONS:
- IBM
- JNUG
- EBAY
- GPRO
- CMG
- CBS
- PG
- USB
- RXDX
- VIAB
- FEYE
- MTEM
- ABT
- MRK
- LOXO
- AXP
- SVU
- MTB
- P
- OMC
- ASML
- URI
- PCG
- HCLP
- OSTK
THIS MORNING'S STOCK NEWS MOVERS:
(source: cnbc.com)
Chevron – The energy giant's stock was downgraded to "market perform" from "outperform" at BMO Capital Markets after the stock reached the firm's $120 per share price target. BMO said Chevron does have promising growth prospects but not enough to justify a widening valuation premium.
STOCK SYMBOL: CVX
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MGM Resorts – Stifel Nicolaus cut its rating on the resort operator's stock to "hold" from "buy," and removed it from the "Stifel Select List." Stifel said it does not see any compelling growth catalysts over the next year that would justify the "buy" rating.
STOCK SYMBOL: MGM
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Anthem – The health insurer established a new pharmacy benefits unit known as IngenioRx, which will begin offering a suite of pharmacy benefit services beginning in 2020. CVS Health has signed a five-year contract to provide services for IngenioRx, starting in 2020.
STOCK SYMBOL: ANTM
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IBM – IBM reported adjusted quarterly earnings of $3.30 per share, two cents a share above estimates. Revenue also exceeded forecasts, but IBM did report its 22nd consecutive quarter of year-over-year revenue declines. The company continues to transition to newer, higher growth businesses.
STOCK SYMBOL: IBM
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Cree – Cree earned an adjusted four cents per share for its latest quarter, matching forecasts, with the lighting product's companies revenue also matching estimates. The stock is being pressured, however, by a lower-than-expected current-quarter outlook.
STOCK SYMBOL: CREE
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Amazon.com – Amazon said the head of Amazon Studios, Roy Price, resigned from that job following his suspension over sexual harassment allegations. He had been put on leave last week after the allegations first surfaced.
STOCK SYMBOL: AMZN
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Rio Tinto – Rio Tinto and two former top executives were charged with fraud by the Securities and Exchange Commission, which accused the mining company of inflating the value of coal assets in Mozambique and concealing critical information while raising billions of dollars from investors.
STOCK SYMBOL: RIO
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AstraZeneca, Merck – The drugmakers received good news on their jointly developed ovarian cancer drug Lynparza, with the Food and Drug Administration granting priority review for use of the drug to treat breast cancer. That puts the drug on track for possible approval for the new use during the first quarter of 2018. Separately, Merck was upgraded to "buy" from "neutral" at Citi, based on increased sales forecasts for Merck's Keytruda cancer drug.
STOCK SYMBOL: AZN
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STOCK SYMBOL: MRK
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McDonald's – McDonald's is reportedly the subject of a probe in South Korea, following complaints of illness following the consumption of allegedly undercooked hamburger patties. Media reports in that country say investigators have raided the McDonald's office in Seoul in search of evidence.
STOCK SYMBOL: MCD
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ADP - Activist investor Bill Ackman's Pershing Square continues its push for board seats at ADP, holding an event this Thursday at which Ackman and two dissident board candidates will be interviewed by a Sanford C. Bernstein analyst. The ADP board vote will take place at the annual meeting November 7.
STOCK SYMBOL: ADP
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Viacom – Viacom has struck a carriage agreement with Spectrum, the cable operator owned by Charter Communications. That will keep Viacom networks like Nickelodeon and Comedy Central on Spectrum's systems in 16.6 million households.
STOCK SYMBOL: VIAB
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JPMorgan Chase – The bank is buying payments technology company WePay for an undisclosed amount, though a source quoted by The Wall Street Journal said it was above the roughly $220 million valuation that stemmed from a 2015 fundraising round.
STOCK SYMBOL: JPM
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Verizon – Verizon will pay $17.7 million to resolve Justice Department allegations regarding its "E-rate" program, which provides subsidized broadband service to schools and libraries. Regulators had accused Verizon of invoicing the Federal Communications Commission for charges not allowed under the E-rate contract, but Verizon maintained that it was a victim of fraud by a consultant who was eventually sentenced to 37 months in prison.
STOCK SYMBOL: VZ
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Tesla – Tesla has yet another competitor for its electric vehicles, with Volvo unveiling its first high-performance electric car model in Shanghai.
STOCK SYMBOL: TSLA
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Microsoft – Microsoft has added a new model to its Surface lineup, with a 15-inch laptop designed to compete with Apple's MacBook Pro.
STOCK SYMBOL: MSFT
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Ulta Beauty – The cosmetics retailer was downgraded to "neutral" from "overweight" at Piper Jaffray, which cited a survey showing a slowdown in beauty spending by teenagers. Ulta had been removed from the "Conviction Buy" list at Goldman Sachs earlier this week.
STOCK SYMBOL: ULTA
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Select Comfort – Select Comfort reported quarterly profit of 62 cents per share, falling six cents a share shy of forecasts. The mattress maker's revenue was also short of analysts' estimates. The maker of the Sleep Number mattress line said its results were impacted by the hurricanes that occurred in August and September.
STOCK SYMBOL: SCSS
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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.
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, October the 18th! :)
Submitted October 18, 2017 at 08:35AM by bigbear0083 http://ift.tt/2yxEJ9I
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