Good morning traders of the r/StockMarket sub! Welcome to Wednesday! Here are your pre-market stock movers & news this AM-
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Frontrunning: October 10th
- Hurricane Michael intensified into an extremely dangerous Category 4 storm. It's expected to strengthen further before making landfall sometime today in the Florida Panhandle or the Florida Big Bend area. (Reuters)
- CNBC has learned Dina Powell, a Goldman Sachs (GS) executive and former deputy national security advisor to President Trump, has had discussions about possibly succeeding Nikki Haley as U.S. ambassador to the U.N.
- Trump is expected to sign two bills today that ban "gag order" clauses in contracts between pharmacies and insurance companies or pharmacy benefit managers. The two bills were passed by Congress last month. (NBC News)
- Income test under Trump proposal places tougher hurdles for families to get green cards (NBC News)
- While he personally won't be up for re-election until 2020, the president is expected to hold midterm election rallies in Erie, Pennsylvania today, Lebanon, Ohio on Friday, and Richmond, Kentucky on Saturday. (Politico)
- A judge in Missouri issued a ruling yesterday prohibiting election authorities from requiring voters to present a photo identificationcard in order to cast a ballot. The move blocks key parts of the state's voter ID law. (Axios)
- SoftBank Group is in discussions to take a majority stake in WeWork, and the investment could total between $15 billion and $20 billion. SoftBank's Vision Fund already owns nearly 20 percent of WeWork. (WSJ)
- Sears Holdings (SHLD) has contacted banks in recent days to arrange the financing necessary to file for bankruptcy after 125 years in business, people familiar with the situation tell CNBC. However, a bankruptcy is not yet definite.
- Amazon's (AMZN) Web services unit has signed new cloud dealsworth a total of $1 billion with business software maker SAP (SAP) and cybersecurity software maker Symantec (SYMC), according to a Bloomberg report.
- Home insurer Travelers to sell discounted home-security devices on Amazon (WSJ)
- Alphabet's (GOOGL) Google announced its new Pixel 3 phones, and a few other gadgets, including the Pixel Slate tablet and Google Home Hub, a $149 device like the Google Home smart speaker but with a built-in screen. (CNBC)
- Hedge fund manager Bill Ackman has revealed $900 million bet on Starbucks (SBUX), predicting shares could double in three years. Ackman also owns stakes in Chipotle (CMG) and Burger King-parent International Brands.
STOCK FUTURES NOW:
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YESTERDAY'S MARKET HEAT MAP:
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YESTERDAY'S S&P SECTORS:
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TODAY'S ECONOMIC CALENDAR:
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THIS WEEK'S ECONOMIC CALENDAR:
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THIS WEEK'S UPCOMING IPO'S:
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THIS WEEK'S EARNINGS CALENDAR:
($JPM $C $WFC $WBA $DAL $FAST $AZZ $PNC $HELE $CBSH $FRC $SAR $EXFO $VOXX $DAVA)
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THIS MORNING'S PRE-MARKET EARNINGS CALENDAR:
(N/A)
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THIS AFTERNOON'S AFTER-MARKET EARNINGS CALENDAR:
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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:
- BABA
- YGYI
- FAST
- AKRX
- TCEHY
- F
- SNAP
- PYX
- TRV
- DBX
- MCD
- PPG
- UNG
- NVDA
- DPZ
- MYGN
- IP
- SBUX
- MGA
- BAC
- USB
- PG
- BKNG
- WRK
- IBB
- DGAZ
- VXX
- NIO
- BCN.X
- CC
THIS MORNING'S STOCK NEWS MOVERS:
(source: cnbc.com)
International Paper – International Paper announced a 5.3 percent increase in its quarterly dividend, bring it to 50 cents per share from 47 1/2 cents. The company also announced a new $2 billion share repurchase program.
STOCK SYMBOL: IP
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Amazon.com, Travelers – The two companies have announced a home insurance partnership. Policyholders will receive discounts on Amazon Echo speakers, security cameras, and other devices, and Amazon's Alexa virtual assistant will be able to handle policy questions.
STOCK SYMBOL: AMZN
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STOCK SYMBOL: TRV
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Nio – Nio shares are adding to Tuesday's gains, which followed news that major Tesla investor Baillie Gifford took an 11 percent stake in the China-based electric car maker.
STOCK SYMBOL: NIO
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Procter & Gamble – The consumer products giant received an exemption from the 25 percent tariffs imposed on imported steel from Japan and Sweden that is used in the company's Gillette and Venus razor blades.
STOCK SYMBOL: PG
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PPG Industries — Nelson Peltz's Trian Fund Management took a stake in the Pittsburgh-based paint maker. Trian owns seven million shares in PPG, worth about $690 million and representing a 2.9 percent stake.
STOCK SYMBOL: PPG
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Campbell Soup — Daniel Loeb's Third Point raised its stake in Campbell Soup to nearly seven percent from 5.7 percent, according to an SEC filing.
STOCK SYMBOL: CPB
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Sears Holdings – The retailer has reached out to banks for possible bankruptcy financing, according to sources. The Wall Street Journal is reporting that a bankruptcy filing could come as soon as this week.
STOCK SYMBOL: SHLD
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Amazon – Amazon's Web services unit has signed new cloud deals worth a total of $1 billion with business software maker SAP and cybersecurity software maker Symantec, according to a Bloomberg report.
STOCK SYMBOL: AMZN
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McDonald's – McDonald's was upgraded to "buy" from "neutral" at Guggenheim Securities in a valuation call, with a price target of $200 per share. Guggenheim said the valuation discount between McDonald's and its large cap peers has widened to an unjustifiable level.
STOCK SYMBOL: MCD
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Snap – The Snapchat parent announced the introduction of Snap Originals, which will feature original content including serialized shows and new documentary series.
STOCK SYMBOL: SNAP
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Fastenal – The maker of industrial and construction supplies reported quarterly profit of 69 cents per share, two cents above estimates, with revenue also beating Wall Street forecasts.
STOCK SYMBOL: FAST
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Kimberly-Clark, Church & Dwight, Clorox – Deutsche Bank downgraded the three consumer products stocks to "sell" from "hold". The firm notes that the sector has done well for the past few months, on an increased appetite for defensive stocks, but now thinks those companies will face increased challenges related to currency fluctuations, emerging market issues, and competitive pressures.
STOCK SYMBOL: KMB
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STOCK SYMBOL: CHD
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STOCK SYMBOL: CLX
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Dropbox – The online storage service's stock was added to the J.P. Morgan Analyst Focus list, with the firm seeing outperformance of up to 50 percent in the stock following its meetings with management last month.
STOCK SYMBOL: DBX
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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 Wednesday, October 10th, 2018! :)
Submitted October 10, 2018 at 08:58AM by bigbear0083 https://ift.tt/2NBaDGm
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