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 17th
- U.S. Secretary of State Mike Pompeo held separate meetings with Turkey's president and foreign minister for around 40 minutes each today in the Turkish capital, Ankara over the Washington Post columnist's disappearance. (AP)
- IMF's Lagarde postpones her Mideast trip, including the Saudi conference (CNBC)
- Ohio Gov. John Kasich's super PAC raised just more than $300,000 in the third quarter, according to a new filing, giving his political operation a boost as he considers whether to make another run at the White House in 2020. (CNBC)
- Dennis Hof, the notorious pimp and GOP candidate for Nevada's state assembly, died hours after a combination 72nd birthday party/campaign rally attended by GOP tax fighter Grover Norquist and recent Trump pardon recipient Sheriff Joe Arpaio.(CNBC)
- Trump told The Associated Press that he won't accept the blame if the Republican Party loses control of the House in November, arguing his campaigning and endorsements have helped GOP candidates.
- In an interview with Fox Business Network, Trump reiterated his complaints that the Federal Reserve under chairman Jerome Powell is raising short-term interest rates too fast, calling the U.S. central bank "my biggest threat."
- The Supreme Court has agreed to hear a case that could determine whether users can challenge social media companies such as Facebook (FB), Twitter (TWTR) and Alphabet's Google (GOOGL) on free speech grounds. (CNBC)
- Canada just became today the largest country with a legal national marijuana marketplace. Canada has had legal medical marijuana since 2001 and Prime Minister Justin Trudeau's government has spent two years working toward expanding that. (AP)
- Amazon's (AMZN) hiring efforts show that it will take a data-driven approach as it moves deeply into health care. The hire would work closely with Atul Gawande's Amazon, J.P. Morgan (JPM), Berkshire Hathaway (BRK.A) joint venture. (CNBC)
- According to exclusive audio obtained by CNBC, former Sears CEO Eddie Lampert gave 1,000 employees a rallying cry at a town hall meeting Tuesday as the company gears up for a do-or-die holiday season.
- Bank of America (BAC) CEO Brian Moynihan said in a interview with Becky Quick at CNBC's Net/Net Summit that the adoption of technology at the second-biggest U.S. lender has allowed him to cut 100,000 workers in less than a decade.
- Uber is considering selling minority stakes in its costly self-driving car unit as the ride-hailing company tries to address rising cost pressures ahead of its initial public offering, according to the Financial Times.
- Tesla (TSLA) successfully acquired an 864,885-square meter plot in Shanghai's Lingang area for the electric car maker's new factory, according to an announcement from Lingang. No price was immediately disclosed. (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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THIS WEEK'S ECONOMIC CALENDAR:
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THIS WEEK'S UPCOMING IPO'S:
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THIS WEEK'S EARNINGS CALENDAR:
($NFLX $BAC $GS $UNH $CLF $PYPL $IBM $JNJ $LRCX $DPZ $BLK $MS $PGR $ISRG $SCH $GWW $CSX $AA $ABT $WGO $JBHT $NUE $SLB$HON $CMA $BX $SKX $KMI $PG $ASML $AXP $URI $TSM $URAL $PLD $FHN $ETFC $INFY $PM $STI $USB $TXT $ERIC $BBT $CREE)
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THIS MORNING'S PRE-MARKET EARNINGS CALENDAR:
($ABT $WGO $ASML $USB $UNF $MTG $BMI $MTB $NTRS $UBSH $NURO)
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THIS AFTERNOON'S AFTER-MARKET EARNINGS CALENDAR:
(N/A)
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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:
- NFLX
- CGC
- IBM
- UAL
- ABT
- LRCX
- CRON
- TEVA
- WGO
- ASML
- VXX
- CSX
- HD
- NTRS
- AAL
- TACO
- HCLP
- UNF
- TSM
- VMC
- WBC
- CREE
- MJ
- ANIX
- RVN.X
- AMAT
- NDX
- GSK
- WDAY
- SPXL
THIS MORNING'S STOCK NEWS MOVERS:
(source: cnbc.com)
Netflix – Netflix reported quarterly profit of 89 cents per share, easily beating the consensus estimate of 68 cents a share. Revenue was in line with Street forecasts, and the important metric of net subscriber additions was well above analysts' expectations for the video streaming service.
STOCK SYMBOL: NFLX
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IBM – IBM beat estimates by 2 cents a share, with adjusted quarterly profit of $3.42 per share. Revenue fell short of forecasts as it dropped 2.1 percent from a year earlier. IBM had seen revenue rise year-over-year for three straight quarters after a nearly six-year stretch of revenue declines. IBM also saw its share of revenue from its faster growing businesses like cloud computing fall to less than 50 percent of total revenue.
STOCK SYMBOL: IBM
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CSX – CSX earned $1.05 per share for the third quarter, topping estimates by 11 cents a share. The rail operator's revenue also beat forecasts, Results were helped by cost-cutting and higher prices for freight delivery.
STOCK SYMBOL: CSX
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United Continental – United Continental fell a penny a share short of consensus estimates, with adjusted quarterly profit of $3.06 per share. The airline's revenue did come in above forecasts, however, as it posted its best quarterly growth since 2010. United also raised its full-year outlook for the third time this year. Additionally, Deutsche Bank upgraded United, as well as rivals Delta Air Lines and American Airlines after the carriers recaptured a larger amount of their increased fuel expense than analysts had anticipated.
STOCK SYMBOL: UAL
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Teva Pharmaceutical – According to a Reuters report, pharmacy benefits manager Express Scripts will cover new migraine drugs from Eli Lilly and Amgen, but is excluding another medication made by Teva Pharmaceutical. That follows price negotiations with all three drug companies.
STOCK SYMBOL: TEVA
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Winnebago – The recreational vehicle maker earned 94 cents per share for its fiscal fourth quarter, 3 cents a share above estimates. Revenue also beat Street forecasts. Winnebago saw smaller profit margins during the quarter, though cost saving initiatives and pricing adjustments helped offset higher costs.
STOCK SYMBOL: WGO
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U.S. Bancorp – The bank reported quarterly profit of $1.06 per share, beating estimates by 2 cents a share. Revenue also came in slightly above forecasts. Both profit and revenue reached record levels during the quarter.
STOCK SYMBOL: USB
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U.S. Steel – Workers at the steel maker will get their biggest wage hike in six years, after the United Steelworkers union struck a tentative pact with U.S. Steel. Sources quoted by Reuters say the pact provides for a cumulative 14 percent wage hike.
STOCK SYMBOL: X
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Fresenius Medical Care – Fresenius cut its full-year forecast due to slower growth in its North American dialysis business. North America is the Germany-based company's largest market.
STOCK SYMBOL: FMS
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Pearson – The British company said it would return to profit growth this year, even as it faces difficulties in its U.S. higher education textbook unit.
STOCK SYMBOL: PSO
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Xerox – Xerox was dealt a setback in court, as Japan's Fujifilm won an appeal in its battle with the office equipment company over their aborted merger deal. Xerox abandoned the proposed $6.1 billion deal earlier this year following opposition by major shareholders Carl Icahn and Darwin Deason.
STOCK SYMBOL: XRX
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Target – Target is adding extra space dedicated to its toy business for the holiday season, as it tries to win more toy sales after Toys R Us went out of business earlier this year.
STOCK SYMBOL: TGT
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General Electric – GE will reportedly win a $15 billion Iraq power generation contract, according to the Financial Times. Sources tell the paper that Germany's Siemens was close to winning the deal, but the White House put pressure on Iraq to award the contract to a U.S. company.
STOCK SYMBOL: GE
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Home Depot, Lowe's – Both stocks were both downgraded to "neutral" from "outperform" by Credit Suisse, with valuation cited for both home improvement retailers. Credit Suisse is also concerned about the impact of higher interest rates on the housing market.
STOCK SYMBOL: HD
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STOCK SYMBOL: LOW
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Roku – Roku plans to resume sales of its video streaming devices in Mexico within a few weeks, following a favorable court ruling. Roku sales had been banned in Mexico for more than a year in a dispute involving hackers offering pirated content.
STOCK SYMBOL: ROKU
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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 17th, 2018! :)
Submitted October 17, 2018 at 08:55AM by bigbear0083 https://ift.tt/2J7Nued
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