Good morning traders and investors of the r/stocks sub! Welcome to Tuesday! Here are your pre-market stock movers & news on this Tuesday, February the 15th, 2022-
Dow futures jump more than 400 points as Russia pulls back some troops from Ukraine border
U.S. stock futures jumped on Tuesday morning after Russia appeared to be backing away from an immediate invasion of Ukraine, cooling geopolitical tensions that have knocked the stock market down the last three days.
The Russian Defense Ministry said it had begun returning some troops to deployment bases after training exercises near the Ukrainian border.
Futures tied to the Dow Jones Industrial Average jumped 440 points, or 1.3%. S&P 500 futures climbed 1.6% and Nasdaq 100 futures advanced 2.1%. All three major benchmarks were down in the three prior sessions. The S&P 500 is about 8% from its record high.
Russian Defense Ministry spokesman Igor Konashenkov said troops who had recently been posted to Russia’s southern and western military districts — which share a border with Ukraine — had completed their drills and “have already begun loading onto rail and road transport and will begin moving to their military garrisons today.”
WTI crude prices fell 3%, while the 10-year Treasury yield jumped to 2.04% as tensions eased. The VanEck Russia ETF, a U.S.-traded fund which invests in big Russian stocks, jumped nearly 5% in premarket trading.
In addition to the Ukraine drama, investors will get another look at inflation Tuesday. The January producer price index, which measures final-demand wholesale prices, will be released at 8:30 and is expected to show a monthly gain of 0.5%.
Airline and cruise stocks led early premarket gainers while energy companies were the biggest losers as oil prices fell.
Wall Street is coming off a volatile Monday trading session.
The Dow closed lower by 171.89 points, or 0.5%, after falling more than 400 points at one point. The S&P 500 dropped as much as 1.2% before ending the day 0.4% lower. The Nasdaq Composite fell 0.9% at one point before closing just below the flatline.
Those moves came as the Russia-Ukraine conflict had appeared to escalate. Secretary of State Antony Blinken ordered the closing of the U.S. embassy in Kyiv, Ukraine, citing a “dramatic acceleration in the buildup of Russian forces” on Ukraine’s border.
Concerns over multiple Fed rate hikes also kept investors on edge.
St. Louis Fed President James Bullard told CNBC’s Steve Liesman on Monday that the central bank needs to be aggressive in fighting inflation. The consumer price index rose last month at its fastest year-over-year pace since 1982, leading Citigroup and Goldman Sachs to increase their rate hike outlook for 2022 to seven.
“I do think we need to front-load more of our planned removal of accommodation than we would have previously. We’ve been surprised to the upside on inflation. This is a lot of inflation,” Bullard said.
“Our credibility is on the line here and we do have to react to the data,” he added. “However, I do think we can do it in a way that’s organized and not disruptive to markets.”
STOCK FUTURES CURRENTLY:
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YESTERDAY'S MARKET MAP:
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TODAY'S MARKET MAP:
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YESTERDAY'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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THIS WEEK'S ECONOMIC CALENDAR:
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THIS WEEK'S UPCOMING IPO'S:
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THIS WEEK'S EARNINGS CALENDAR:
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THIS MORNING'S PRE-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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YESTERDAY'S ANALYST UPGRADES/DOWNGRADES:
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YESTERDAY'S INSIDER TRADING FILINGS:
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TODAY'S DIVIDEND CALENDAR:
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THIS MORNING'S STOCK NEWS MOVERS:
(source: cnbc.com)
Monster Beverage (MNST), Constellation Brands (STZ) – Merger talks between Monster Beverage and Constellation Brands are progressing, according to people familiar with the matter who spoke to Bloomberg. Those people say an agreement between the two companies could be reached within weeks if the talks go smoothly. Constellation gained 2.2% in the premarket while Monster Beverage rallied 3.1%.
STOCK SYMBOL: MNST
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STOCK SYMBOL: STZ
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Arista Networks (ANET) – Arista Networks reported quarterly earnings of 82 cents per share, 9 cents a share above estimates. The networking software and services company’s revenue topped Wall Street forecasts as well. Arista also issued an upbeat forecast, helping its shares surge 10.1% in the premarket.
STOCK SYMBOL: ANET
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Restaurant Brands (QSR) – The restaurant operator beat estimates by 4 cents a share, with quarterly earnings of 74 cents per share. Revenue came in above estimates as well. Burger King’s comparable-store sales beat analysts’ forecasts, helping to offset misses at the Tim Hortons and Popeyes chains.
STOCK SYMBOL: QSR
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BorgWarner (BWA) – The automotive components maker reported quarterly profit of $1.06 per share, well above the 75 cents a share consensus estimate. Revenue also came in above forecasts. BorgWarner’s full-year earnings forecast is shy of analysts’ estimates, however, despite an expected improvement in organic sales. BorgWarner rose 1% in premarket trading.
STOCK SYMBOL: BWA
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Marriott (MAR) – Marriott shares jumped 3% in the premarket after the hotel operator beat top- and bottom-line forecasts for its latest quarter. Marriott earned $1.30 per share, 31 cents a share above estimates as occupancy rates increased amid a rise in vaccinations.
STOCK SYMBOL: MAR
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Zoetis (ZTS) – Zoetis was up 2% in premarket trading on better-than-expected quarterly results. Zoetis beat estimates by 4 cents a share, with quarterly earnings of $1.00 per share as improvement in its pet products business offset tepid results for livestock product sales.
STOCK SYMBOL: ZTS
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Tower Semiconductor (TSEM) – Intel (INTC) announced a deal to buy the Israeli chipmaker for $53 per share, or $5.4 billion, a 60% premium over Tower’s Monday closing price. Tower makes chips for a wide variety of industries including medical, automotive and consumer products. Tower Semiconductor soared 44.6% in premarket action, while Intel added 1.6%.
STOCK SYMBOL: TSEM
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Advance Auto Parts (AAP) – Advance Auto Parts beat estimates by 10 cents a share, with quarterly profit of $2.07 per share. The auto parts retailer’s revenue also beat analysts’ forecasts. Advance Auto’s sales were higher than a year before, but profit was lower as it dealt with inflationary headwinds. Shares fell 1% in premarket action.
STOCK SYMBOL: AAP
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Avis Budget (CAR) – The company reported better-than-expected profit and revenue for its latest quarter, as increases in rental activity and in revenue per day helped offset higher expenses.
STOCK SYMBOL: CAR
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Intuit (INTU) – Intuit lowered its current-quarter forecast as tax season gets off to a slow start. The maker of the popular TurboTax software maintained its full-year forecast, however, suggesting the company believes revenue was simply be pushed to a later quarter. Intuit fell 1% in premarket trading.
STOCK SYMBOL: INTU
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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's on everyone's radar for today's trading day ahead here at r/stocks?
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