Good Friday morning traders and investors of the r/stocks sub! Welcome to the final trading day of this week. Here are your pre-market movers & news this AM-
Dow futures tumble more than 150 points ahead of big jobs report
Stock futures were mixed in early morning trading Friday as investors digested a slew of corporate earnings reports and as the market awaited an important snapshot of the jobs picture.
Futures on the Dow Jones Industrial Average fell 141 points, or 0.4%. S&P 500 futures gained 0.1%, and Nasdaq 100 futures rose just 0.3% after being up much higher in the session.
Several technology stocks posted huge after-hours gains following strong quarterly results. Amazon jumped 12.4%, Pinterest surged more than 13% and Snap rocketed up around 46% the day after reporting earnings.
Investors were awaiting the January nonfarm payrolls report, which is expected to show a gain of 150,000, according to a Dow Jones estimate. However, some on Wall Street are bracing for a disappointing report, with one forecast calling for a loss of 400,000.
In earnings news, Ford Motor missed estimates by a wide margin, with profit reported Thursday of 26 cents a share well below the consensus of 45 cents. Shares tumbled 5% in premarket trading.
Friday’s moves come the day after a tech rout spurred by a disappointing earnings report from Facebook parent Meta. The company’s weak results sent the mega-cap tech stock lower Thursday and weighed on equity markets.
After Facebook’s quarterly results, “everyone just gave up and sold the whole sector. That was clearly the wrong read,” Rich Greenfield of Lightshed Partners told CNBC’s “Closing Bell” on Thursday. “What’s going to be really interesting is how investors start to look at these companies more individually versus … this whole sector.”
On Thursday, the Nasdaq Composite, which is tilted towards tech shares, fell 3.7% for its worst daily performance since September 2020.The S&P 500 had its worst day in nearly a year, sliding 2.4%. The Dow Jones Industrial Average fell 518.17 points.
“The sharp drop in FB market cap today and the accompanying drag on the S&P500 index is … a stark reminder of the high concentration of mega-cap Tech stocks in the S&P 500 — and the vulnerabilities that such concentration brings,” Goldman Sachs’ Chris Hussey said in a note Thursday.
Meanwhile, U.S. oil prices topped $90 per barrel for the first time since 2014, heightening inflation concerns.
STOCK FUTURES CURRENTLY:
(CLICK HERE FOR STOCK FUTURES CHARTS!)
YESTERDAY'S MARKET MAP:
(CLICK HERE FOR YESTERDAY'S MARKET MAP!)
TODAY'S MARKET MAP:
(CLICK HERE FOR TODAY'S MARKET MAP!)
YESTERDAY'S S&P SECTORS:
(CLICK HERE FOR YESTERDAY'S S&P SECTORS CHART!)
TODAY'S S&P SECTORS:
(CLICK HERE FOR TODAY'S S&P SECTORS CHART!)
TODAY'S ECONOMIC CALENDAR:
(CLICK HERE FOR TODAY'S ECONOMIC CALENDAR!)
NEXT WEEK'S ECONOMIC CALENDAR:
(CLICK HERE FOR NEXT WEEK'S ECONOMIC CALENDAR!)
NEXT WEEK'S UPCOMING IPO'S:
(CLICK HERE FOR NEXT WEEK'S UPCOMING IPO'S!)
NEXT WEEK'S EARNINGS CALENDAR:
([CLICK HERE FOR NEXT WEEK'S EARNINGS CALENDAR!]())
(T.B.A. THIS WEEKEND.)
THIS MORNING'S PRE-MARKET EARNINGS CALENDAR:
(CLICK HERE FOR THIS MORNING'S EARNINGS CALENDAR!)
EARNINGS RELEASES BEFORE THE OPEN TODAY:
(CLICK HERE FOR THIS MORNING'S EARNINGS RELEASES!)
EARNINGS RELEASES AFTER THE CLOSE TODAY:
([CLICK HERE FOR THIS AFTERNOON'S EARNINGS RELEASES!]())
(NONE.)
YESTERDAY'S ANALYST UPGRADES/DOWNGRADES:
(CLICK HERE FOR YESTERDAY'S ANALYST UPGRADES/DOWNGRADES LINK #1!)
(CLICK HERE FOR YESTERDAY'S ANALYST UPGRADES/DOWNGRADES LINK #2!)
(CLICK HERE FOR YESTERDAY'S ANALYST UPGRADES/DOWNGRADES LINK #3!)
(CLICK HERE FOR YESTERDAY'S ANALYST UPGRADES/DOWNGRADES LINK #4!)
(CLICK HERE FOR YESTERDAY'S ANALYST UPGRADES/DOWNGRADES LINK #4!)
YESTERDAY'S INSIDER TRADING FILINGS:
(CLICK HERE FOR YESTERDAY'S INSIDER TRADING FILINGS!)
TODAY'S DIVIDEND CALENDAR:
(CLICK HERE FOR TODAY'S DIVIDEND CALENDAR LINK #1!)
(CLICK HERE FOR TODAY'S DIVIDEND CALENDAR LINK #2!)
THIS MORNING'S STOCK NEWS MOVERS:
(source: cnbc.com)
Regeneron Pharmaceuticals (REGN) – The drugmaker reported adjusted quarterly earnings of $23.72 per share, beating the $18.35 consensus estimate. Revenue also topped the forecast on strong sales of the company’s Covid-19 antibody therapy as well as its eye drug Eylea. Regeneron said it is “working hard” to develop an updated therapy that will be effective against Omicron and other Covid-19 variants.
STOCK SYMBOL: REGN
(CLICK HERE FOR LIVE STOCK QUOTE!)
Bristol-Myers (BMY) – Bristol-Myers rose 1% in premarket trading after the drugmaker reported better than expected quarterly profit and revenue that was just slightly below estimates. The company also reaffirmed its long-term forecasts and announced a $15 billion share-repurchase authorization.
STOCK SYMBOL: BMY
(CLICK HERE FOR LIVE STOCK QUOTE!)
BJ’s Wholesale (BJ) – The warehouse retailer’s stock rose 2% in the premarket after Deutsche Bank upgraded it to “buy” from “hold.” Deutsche Bank points to the stock’s 10% pullback so far this year as well as a shift in consumer buying habits to more value-oriented retailers.
STOCK SYMBOL: BJ
(CLICK HERE FOR LIVE STOCK QUOTE!)
Amazon.com (AMZN) – Amazon reported adjusted quarterly earnings of $5.80 per share, well above the $3.57 consensus estimate. Revenue was slightly below forecasts, but Amazon was helped by cost controls and strong performances in its cloud computing and ad businesses. Amazon also announced a $20 per year increase in membership fees for its Prime program to $139 per year, and the shares surged 11.8% in premarket trading.
STOCK SYMBOL: AMZN
(CLICK HERE FOR LIVE STOCK QUOTE!)
Clorox (CLX) – Clorox tumbled 12.9% in premarket action after it fell 18 cents short of forecasts with adjusted quarterly profit of 66 cents per share. The maker of household products saw revenue come in slightly above estimates, but it was hit by considerably lower profit margins due to a “challenging” cost environment.
STOCK SYMBOL: CLX
(CLICK HERE FOR LIVE STOCK QUOTE!)
Snap (SNAP) – Snap rocketed 46.7% in the premarket after it reported its first-ever quarterly profit. It more than doubled the 10 cent consensus estimate by reporting adjusted quarterly earnings of 22 cents per share. The Snapchat parent also reported better than expected revenue and issued an upbeat outlook, saying it was making progress adjusting to the changes in Apple’s privacy policies which impact ad-tracking technology.
STOCK SYMBOL: SNAP
(CLICK HERE FOR LIVE STOCK QUOTE!)
Pinterest (PINS) – Pinterest came in 4 cents ahead of Wall Street forecasts with an adjusted quarterly profit of 49 cents per share. It reported better than expected revenue as well. The social site also concluded its first-ever profitable year amid strengthening ad revenue. Pinterest soared 14.4% in the premarket.
STOCK SYMBOL: PINS
(CLICK HERE FOR LIVE STOCK QUOTE!)
Ford (F) – Ford reported adjusted quarterly earnings of 26 cents per share, well short of the 45 cent consensus estimate. The automaker’s revenue also came in slightly short of estimates with the chip shortage and other supply constraints hurting production. Ford slumped 5.9% in premarket trading.
STOCK SYMBOL: F
(CLICK HERE FOR LIVE STOCK QUOTE!)
Unity Software (U) – Unity Software reported better than expected quarterly results and the video game content creation platform operator also projected upbeat current quarter results. Unity said a transition to interactive real-time 3D gaming presents it with strong growth opportunities for decades to come. The stock rallied 11.3% in the premarket.
STOCK SYMBOL: U
(CLICK HERE FOR LIVE STOCK QUOTE!)
News Corp (NWSA) – News Corp beat top and bottom-line estimates for its latest quarter, with the media company benefiting from growth in digital real estate services, book publishing and its Dow Jones division. News Corp jumped 6.9% in premarket trading.
STOCK SYMBOL: NWSA
(CLICK HERE FOR LIVE STOCK QUOTE!)
Skechers (SKX) – Skechers came in 10 cents above analyst forecasts with an adjusted quarterly profit of 43 cents per share, with the footwear retailer also reporting better than expected revenue as it successfully bet on demand for casual and comfortable shoes. The stock surged 7.9% in the premarket.
STOCK SYMBOL: SKX
(CLICK HERE FOR LIVE STOCK QUOTE!)
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?
Leave a Reply