Good morning traders and investors of the r/stocks sub! Welcome to the final trading day of February! Here are your pre-market stock movers & news on this Tuesday, February the 28th, 2023-
Stock futures rise as Wall Street braces for final trading day of February: Live updates
Stocks futures rose Tuesday as investors braced for the final trading day of February.
Futures tied to the Dow Jones Industrial Average climbed 88 points, or 0.3%, while S&P 500 and Nasdaq 100 futures climbed 0.3% and 0.4%, respectively.
Zoom Video popped 6.4% on strong earnings, while Target rose 1.3% after the retailer posted its latest quarterly figures.
The moves followed a positive session for the major averages as Treasury yields eased. The Dow Jones Industrial average rose 72.17 points or 0.22%, while the S&P 500 and Nasdaq Composite gained 0.31% and 0.63%, respectively.
Tuesday marks the last day of February. Despite a solid start to the year, the major indexes are on pace for their second negative month in three. As of Monday’s close, the Dow is down 3.5% for the month and the only major index negative for the year. Both the S&P 500 and Nasdaq are positive in 2023, but down 2.3% and 1%, respectively, in February.
February “will go down in history as the month where the market pulled back to digest a very strong rally you saw at the end of December into most of January,” said Adam Sarhan, CEO of 50 Park Investments. “This is a pullback month, it’s a rest month, and that’s good as long as support is defended and support holds, which is last week’s low.”
On the economic front, investors also await consumer confidence data, wholesale inventories, Chicago PMI and the S&P Case-Shiller home prices index.
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)
Dish Network — The satellite company’s shares fell almost 5% amid its multi-day service outage and double-downgrade from Bank of America. Dish shares are down 13.5% in 2023 amid a 61.8% drop during the past 12 months.
STOCK SYMBOL: DISH
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Target — The retailer gained 1.2% after reporting fiscal fourth-quarter earnings per share of $1.89, topping the $1.40 consensus of analysts polled by Refinitiv. Revenue also beat, but Target’s full-year EPS guidance came in below expectations.
STOCK SYMBOL: TGT
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Arconic — Shares fell 3.5% following a downgrade to sell from neutral by Goldman Sachs. The firm cited an uncertain demand outlook in Europe.
STOCK SYMBOL: ARNC
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Celsius Holdings — The energy-drink maker rose 4.2% after being upgraded to outperform from neutral by Credit Suisse. The firm said the distribution agreement with Pepsi is going well and the long-term potential is high.
STOCK SYMBOL: CELH
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Norwegian Cruise Line Holdings — Shares of the cruise company fell more than 5% in premarket trading Tuesday after Norwegian reported a wider-than-expected loss for the fourth quarter. The company lost an adjusted $1.04 per share on $1.52 billion of revenue. Analysts surveyed by FactSet’s StreetAccount were expecting a loss of 86 cents per share on $1.50 billion of revenue. Norwegian’s earnings guidance for 2023 also came in below expectations.
STOCK SYMBOL: NCLH
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Zoom Video —The video communications company rallied 6.9% in the premarket following a top- and bottom-line beat for the fourth quarter. Full-year revenue guidance came in lighter than expected, but its earnings guidance topped estimates.
STOCK SYMBOL: ZM
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Dick’s Sporting Goods — The sporting-good retailer slid 2.6% after being downgraded by Citi to neutral from buy. The Wall Street firm said it expects near-term gross margin pressure to continue.
STOCK SYMBOL: DKS
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Workday — The human resources software fell 2.4% after its revenue guidance for the first quarter came in lighter than expected. However, it beat estimates for fourth-quarter revenue and earnings, according to Refinitv.
STOCK SYMBOL: WDAY
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Hims & Hers Health — The telehealth stock jumped more than 9% after Hims & Hers Health reported quarterly results that exceeded estimates on the top and bottom lines. The firm posted a loss of 5 cents per share on revenue of $167.2 million. That surpassed consensus estimates of a loss of 7 cents per share on revenue of $161.2 million, according to Refinitiv.
STOCK SYMBOL: HIMS
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Advance Auto Parts — The automotive aftermarket parts company gained 4.4% after reporting fourth-quarter EPS of $2.88, topping a StreetAccount estimate of $2.41. Revenue also beat expectations.
STOCK SYMBOL: AAP
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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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