Good morning traders of the r/StockMarket sub! Welcome to Friday! Here are your pre-market stock movers & news this AM-
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Frontrunning: November 2nd
- President Donald Trump travels to Indiana and West Virginia today, continuing his push for Republican candidates and conservative ideals ahead of Tuesday's midterm elections. On * Thursday, he hammered away on immigration in Missouri. (NBC News)
- Tesla (TSLA) "probably would not" take money from Saudi Arabia in the wake of the death of Jamal Khashoggi, said CEO Elon Musk, who got into trouble in August for floating a take-private idea on Twitter and later indicating he received interest from the Saudis. (CNBC)
- Musk on his 'excruciating' 2018, fights on Twitter, and why Tesla won't build an electric scooter (Recode)
- Alkermes (ALKS) shares were under pressure after an FDA panel voted against recommending approval for the Irish drugmaker's experimental depression treatment. (CNBC)
- Starbucks (SBUX) shares were marching higher after the coffee giant reported better than expected adjusted quarterly earnings of 62 cents per share. Revenue and comparable store sales also beat. (CNBC)
- Kraft Heinz (KHC) shares were sinking after the company issued lower than expected quarterly profit of 78 cents per share. The bottom line was hurt by higher commodity costs and promotional activity. However, revenue beat. (Reuters)
- UPS (UPS) is halting pickups of heavy items as of next Wednesday, ahead of a vote on a union contract that expires on Nov. 11. UPS said it's trying to avoid disruptions in the event of a work stoppage. (Reuters)
- AT&T-owned (T) HBO and Cinemax have gone dark on the Dish Network (DISH) after the two sides failed to agree on a new distribution deal. AT&T is also the owner of DirecTV, which competes with Dish. (Reuters)
- Walmart (WMT) has filed a lawsuit against its longtime credit-card issuer, Synchrony Financial (SYF), alleging breach of contract. Walmart replaced Synchrony as its credit card issuer earlier this summer with Capital One Financial (COF). (WSJ)
STOCK FUTURES NOW:
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THIS WEEK'S MARKET HEAT MAP:
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TODAY'S MARKET HEAT MAP:
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THIS WEEK'S S&P SECTORS:
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TODAY'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 UPCOMING IPO'S:
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NEXT WEEK'S EARNINGS CALENDAR:
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THIS MORNING'S PRE-MARKET EARNINGS CALENDAR:
($BABA $XOM $CVX $ABBV $STX $NWL $BTE $ENB $DUK $AXL $CBOE $EXTR $IMGN $CCJ $ABR $VST $RUTH $TDS $VG $TEX $BPL $DOC$TRTN $CNK $BIP $ASIX $HMSY $WPC $PETX $IMO $FTS $NPTN $OBLN $ITT $ES $USM $TYPE $RLGY $HRC $HYGS $CIVB $EAF)
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THIS AFTERNOON'S POST-MARKET EARNINGS CALENDAR:
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NONE.
EARNINGS RELEASES BEFORE THE OPEN TODAY:
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EARNINGS RELEASES AFTER THE CLOSE TODAY:
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:
- AAPL
- BABA
- INPX
- SPY
- JD
- SBUX
- ABBV
- NWL
- PBYI
- WTW
- PACB
- EXTR
- EXEL
- FXI
- CZR
- XOM
- OLED
- BIDU
- CVX
- X
- PETX
- KHC
- SYMC
- STX
- ANET
- SHAK
- ABR
- TDS
- BILI
- ACIA
THIS MORNING'S STOCK NEWS MOVERS:
(source: cnbc.com)
Apple – Apple reported quarterly profit of $2.91 per share, above the consensus estimate of $2.78 a share. Revenue also beat expectations, however its shares are being pressured by weaker-than-expected iPhone shipment numbers, as well as a weaker-than-expected revenue forecast for the current quarter.
STOCK SYMBOL: AAPL
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Starbucks – Starbucks came in 2 cents a share ahead of estimates, with adjusted quarterly profit of 62 cents per share. The coffee chain's revenue also beat Street forecasts. Comparable-store sales were up 3 percent, beating the consensus estimate of a 2.4 percent increase.
STOCK SYMBOL: SBUX
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Alibaba – The China e-commerce giant beat estimates on the bottom line, though revenue was somewhat short of analysts' forecasts. Annual active consumers rose 25 million from a year earlier to 601 million. Core commerce revenue was up 56 percent, while cloud computing revenue jumped by 90 percent.
STOCK SYMBOL: BABA
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Newell Brands – The maker of products like Sharpie pens and Elmer's Glue reported adjusted quarterly profit of 81 cents per share, beating the consensus estimate of 64 cents a share. Revenue fell short of forecasts, however. Newell also raised its full-year forecast, as it sees improved cash flow and better profit margins from its restructuring.
STOCK SYMBOL: NWL
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Michael Kors – The luxury goods maker was upgraded to "overweight" from "neutral" at Piper Jaffray, which calls the stock "underappreciated and undervalued." Piper notes that a recent drop in the stock price has wiped out more market cap value than that $2.1 billion that Kors paid for Versace, and that the company will be able to boost Versace's growth.
STOCK SYMBOL: KORS
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CBS – CBS reported adjusted quarterly earnings of $1.24 per share, 2 cents a share ahead of consensus. Revenue was slightly above estimates. The media company's results were helped by an increase in digital subscriptions and stronger ad sales.
STOCK SYMBOL: CBS
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Kraft Heinz – Kraft Heinz came in 3 cents a share shy of estimates, with quarterly profit of 78 cents per share. The food company's revenue beat estimates. The bottom line was impacted by higher commodity costs and promotional activity.
STOCK SYMBOL: KHC
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WW — WW reported adjusted quarterly earnings of 94 cents per share, 5 cents a share short of estimates. The company formerly known as Weight Watchers also saw revenue come up short of Wall Street forecasts.
STOCK SYMBOL: WW
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Caesars Entertainment – Caesars reported a surprise profit of 14 cents per share, with analysts having anticipated a breakeven quarter for the casino operator. Revenue came in slightly short of forecasts, and Caesars announced that CEO Mark Frissora would leave the company in February.
STOCK SYMBOL: CZR
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General Motors – GM is discontinuing work on two renovation projects in the Detroit area in order to cut costs, according to an employee email seen by Reuters. The email from CEO Mary Barra said that costs are not currently aligned with market realities.
STOCK SYMBOL: GM
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United Parcel Service – UPS is halting pickups of heavy items as of next Wednesday, ahead of voting on a tentative union contract that will extend through November 11. UPS said it is trying to avoid disruptions in the event of a work stoppage.
STOCK SYMBOL: UPS
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AT&T – AT&T's HBO and Cinemax services have gone dark for customers of Dish Network, after the two sides failed to agree on a new distribution deal. AT&T is also the owner of DirecTV, which competes with Dish.
STOCK SYMBOL: T
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Alkermes — A Food and Drug Administration panel voted against recommending approval for the drugmaker's experimental depression treatment, aimed at patients who do not respond to standard therapies.
STOCK SYMBOL: ALKS
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Symantec – Symantec reported quarterly profit of 42 cents per share, 9 cents a share above estimates. The cybersecurity company's revenue also topped forecasts, boosted by an 8.5 percent increase in consumer security unit revenue.
STOCK SYMBOL: SYMC
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MetLife – MetLife reversed a year-ago loss, reporting an adjusted quarterly profit of $1.38 per share, 11 cents a share above estimates. The insurer's revenue also came in ahead of Wall Street forecasts. The bottom line was helped by an improvement an investment income and favorable underwriting results, among other factors.
STOCK SYMBOL: MET
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Synchrony Financial – Synchrony was sued by retailer Walmart, which charges the credit-card issuer with breach of contract regarding its underwriting standards. Synchrony calls Walmart's charges "baseless." Walmart replaced Synchrony as its credit-card issuer earlier this summer with Capital One Financial.
STOCK SYMBOL: SYF
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Shake Shack – The restaurant chain reported quarterly earnings of 21 cents per share, 8 cents a share above estimates. Revenue beat forecasts, as well, however comparable-restaurant sales unexpectedly fell. Shake Shack also gave a weaker-than-expected outlook.
STOCK SYMBOL: SHAK
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Pfizer – The drugmaker is considering the sale of its women's health business, according to a Bloomberg report. The division has annual sales of about $1.2 billion and the report said a sale could bring in about $2 billion.
STOCK SYMBOL: PFE
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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, November 2nd, 2018! :)
Submitted November 02, 2018 at 09:54AM by bigbear0083 https://ift.tt/2AHmP50
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