Good morning traders of the r/StockMarket sub! Welcome to Friday! Here are your pre-market stock movers & news this morning-
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Frontrunning: January 19
- The House passed a last-minute bill to avoid a government shutdown late last night, sending it to the Senate, where it faces a much higher hurdle on the way to * * * President Donald Trump's desk. The Senate needs 60 votes in the affirmative to pass a spending bill. (CNBC)
- What happens during a US government shutdown (Reuters)
- Trump is the only person who doesn't seem worried about a shutdown (CNBC)
- Trump scored a 39 percent approval rating, the lowest for any modern president one year into their term, a NBC/WSJ poll shows. The poll was conducted during the uproar over Trump's vulgar description of Haiti and African nations.
- The Trump administration is reportedly acting quickly to transfer the American Embassy to Jerusalem from Tel Aviv by 2019. A move of the embassy, however, was not expected to happen until the end of President Trump's term. (NY Times)
- Trump to address US anti-abortion march, cementing U-turn on issue(Reuters)
- Trump called Tim Cook after Apple revealed its US investment plan(CNBC)
- The Justice Department asked the Supreme Court to overturn a lower court ruling that blocked Trump's move to end the Obama-era DACA program. In September, Trump moved to end the program unless Congress can come up with a fix by March. (Reuters) There are 3.6 million 'Dreamers'... a number far greater than commonly known (USA Today)
- Florida deal to detain undocumented immigrants gains sheriffs' support (WSJ)
- Pope Francis accused victims of Chile's most notorious paedophile of slander. He said until he sees proof Bishop Juan Barros was complicit in covering up sex crimes of the Rev. Fernando Karadima, such accusations against Barros are "all calumny." (AP)
- Washington, D.C. and Austin are shaping up to be strong contendersfor Amazon's (AMZN) second headquarters, based on the criteria the company identified. * * * Amazon narrowed down its list of places for its headquarters to 20 on Thursday. (CNBC)
- Netflix pitches fictional TV town as Amazon HQ2 possibility(GeekWire)
- Co-founder and ousted Uber CEO Travis Kalanick will get with $1.4 billion from SoftBank's completed investment agreement with Uber. SoftBank is officially Uber's largest shareholder and could value Uber at $48 billion. (CNBC)
- Snap (SNAP) laid off two dozen workers in New York and London, half of whom worked producing content. The parent company of Snapchat has struggled as larger rivals like Facebook (FB) copies its features. (CNBC)
STOCK FUTURES NOW:
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YESTERDAY'S MARKET HEAT MAP:
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YESTERDAY'S S&P SECTORS:
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TODAY'S ECONOMIC CALENDAR:
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NEXT WEEK'S ECONOMIC CALENDAR:
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NEXT WEEK'S IPO'S:
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NEXT WEEK'S EARNINGS CALENDAR:
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N/A.
THIS MORNING'S PRE-MARKET EARNINGS CALENDAR:
($IBM $SLB $AXP $SYF $STI $TEAM $RF $FHN $KSU $CFG $CP $MLNX $WIT $PBCT $FFBC $ENFC $INDB $URG)
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EARNINGS RELEASES BEFORE THE OPEN TODAY:
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EARNINGS RELEASES AFTER THE CLOSE TODAY:
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NONE.
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:
- SQ
- SLB
- AAOI
- LOW
- ACOR
- IBM
- SYF
- CARA
THIS MORNING'S STOCK NEWS MOVERS:
(source: cnbc.com)
IBM – IBM broke a long string of revenue declines, chalking up its first gain in 23 quarters. It reported adjusted quarterly profit of $5.18 per share, beating estimates by a penny a share, but the company did warn that a higher tax rate for 2018 would impact its profits.
STOCK SYMBOL: IBM
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American Express – The company earned an adjusted $1.58 per share for the fourth quarter, beating estimates by 4 cents a share. The financial services giant also saw revenue beat forecasts, however, the company reported its first overall quarterly loss in 25 years stemming from charges related to tax law changes. The company will maintain its quarterly dividend but has suspended share buybacks for the first half of 2018.
STOCK SYMBOL: AXP
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Acorda Therapeutics – The drugmaker has reportedly received takeover interest from biotech firm Biogen, according to a Bloomberg report. Separately, Acorda announced a corporate restructuring designed to reduce expenses.
STOCK SYMBOL: ACOR
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Lowe's – The home improvement chain named two new directors and said it would nominate a third at its annual meeting, following talks with activist investor D.E. Shaw.
STOCK SYMBOL: LOW
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Foot Locker – The athletic footwear and apparel retailer was upgraded to "outperform" from "market perform" at Telsey Advisory Group, which thinks the worst is behind the industry as a whole and that Foot Locker acted quickly and decisively to adjust expenses and reorganize its business in light of those overall difficulties. Telsey is also positive on Deckers Outdoor, Nike, and Steven Madden.
STOCK SYMBOL: FL
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Nike – In addition to the positive mention at Telsey, Nike was upgraded to "outperform" from "neutral" at Wedbush, which sees a return to growth in fiscal 2019.
STOCK SYMBOL: NKE
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Canadian Pacific Railway – The rail operator reported better than expected profit and revenue for its latest quarter, and said it was considering strategic deals to boost shipments of crude oil by rail. The rail operator is also forecasting higher pricing this year on rising demand.
STOCK SYMBOL: CP
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Texas Instruments – Texas Instruments will promote chief operating officer Brian Crutcher to Chief Executive Officer in June, succeeding Rich Templeton. Templeton will remain the semiconductor maker's chairman.
STOCK SYMBOL: TXN
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Alphabet – Alphabet's Google unit struck a patent licensing agreement with China's Tencent Holdings in a move to expand its presence in China. This is Google's first such deal with a major Chinese tech company.
STOCK SYMBOL: GOOGL
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Berkshire Hathaway – Berkshire Vice Chairman Ajit Jain reported an ownership stake of about $109 million in the company's stock. Jain is seen as a possible eventual successor to Warren Buffett.
STOCK SYMBOL: BRK.A
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ADT — ADT priced its initial public offering at $14 per share, well below the original target range of $17 to $19 per share. The home security company's offering values the company at about $10.6 billion.
STOCK SYMBOL: ADT
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Overstock.com – The online retailer may be a takeover target of supermarket giant Kroger, according to sources quoted by the New York Post.
STOCK SYMBOL: OSTK
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Snap – The Snapchat parent has laid off 24 workers, half from its content team. The affected workers were based in New York and London, with the social media company consolidating its content operations in Los Angeles.
STOCK SYMBOL: SNAP
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Mellanox Technologies – Mellanox reported better than expected revenue and profit for the fourth quarter, and the Israeli chipmaker also gave upbeat guidance for 2018. Mellanox is in the midst of a proxy fight with activist investor Starboard Value, which considers the company deeply undervalued.
STOCK SYMBOL: MLNX
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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 Friday, January 19th, 2018! :)
Submitted January 19, 2018 at 08:37AM by bigbear0083 http://ift.tt/2DOvqCY
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