Good morning traders and investors of the r/stocks sub! Welcome to Thursday! Here are your stock market news on this Thursday, April the 28th, 2022-
Nasdaq futures rise 1% as market attempts comeback from April sell-off; Meta shares soar
Stock futures rose in early trading Thursday as the market tried to recover some ground lost during this month’s sell-off, and investors reacted positively to earnings from Meta Platforms.
Futures on the Dow Jones Industrial Average added about 190 points or 0.6%. S&P 500 futures gained 1.1% and Nasdaq 100 futures jumped 1.4%.
A slew of corporate earnings reports drove market sentiment Thursday.
“It’s been a pretty good earnings season and that is supportive for the equity market,” Victoria Fernandez, chief market strategist at Crossmark Global Investments, said.
Shares of Meta surged more than 13% following a beat on earnings, a sign that investors may see signs of relief in the beaten-up tech sector. Shares were down 48% on the year heading into the results.
Meanwhile, shares of Qualcomm gained more than 5% in premarket trading on the back of strong earnings, while PayPal rose roughly 3% despite issuing weak guidance for the second quarter.
McDonald’s, Merck, Eli Lilly and Southwest were all higher in early morning trading after better-than-expected quarterly reports.
The premarket moves followed a volatile session Wednesday that saw the Nasdaq Composite stoop to its lowest level in 2022, as stocks looked to bounce back from a tech-led April sell-off.
have struggled this month amid concerns about slowing global growth, rising inflation and the Federal Reserve’s monetary tightening.
U.S. gross domestic product unexpectedly declined in the first quarter by 1.4% from the year prior, compared with the 1% growth expected by economists surveyed by Dow Jones. Stock futures came off their highs slightly after the release Thursday morning.
The S&P 500 was down 7.7% for April — on pace for its biggest monthly decline since March 2020. The Nasdaq Composite has lost more than 12% since the start of April and is headed for its worst one-month performance since October 2008. The Dow has been the relative outperformer, losing about 4% this month.
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)
Meta — Shares of the Facebook parent soared more than 16% in premarket trading after the tech company reported better-than-expected quarterly earnings. Daily active users, which declined in the fourth quarter for the first time, bounced back a bit and topped analysts’ expectations, according to StreetAccount. The rally came despite a revenue miss. Shares were down 48% on the year heading into the results.
STOCK SYMBOL: FB
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Teladoc — Teladoc’s stock price cratered 43% after the telehealth company reported an earnings miss, as well as disappointing revenue guidance. Teladoc reported a loss of $41.58 per share and generated revenues of $565.4 million. Analysts surveyed by FactSet were expecting a loss of 60 cents per share, and revenues of $568.7 million.
STOCK SYMBOL: TDOC
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McDonald’s — Shares of the restaurant chain gained 2% in premarket trading after first quarter revenue came in higher than expected. McDonald’s reported first quarter revenue of $5.67 billion versus the $5.59 billion expected by analysts, according to Refinitiv. The company saw same store sales growth of 3.5% in the U.S. and even higher in international markets.
STOCK SYMBOL: MCD
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Southwest Airlines — The airline stock rose more than 3% in premarket trading after the company delivered an optimistic outlook. Southwest said it expected its second quarter revenue to be up 8% to 12% from the same period in 2019, prior to the pandemic. For the first quarter, the company reported a loss of 32 cents per share, slightly wider than the 30 cents expected by analysts, according to Refinitiv. First-quarter revenues came in slightly ahead of expectations.
STOCK SYMBOL: LUV
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PayPal — The payment’s company saw shares rise 3.4% in early trading after it beat revenue estimates for the first quarter and posted a slight increase in payments volume. The stock price got a lift despite issuing weak guidance for the second quarter and full year.
STOCK SYMBOL: PYPL
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Eli Lilly — The drug maker’s shares gained 3.4% in premarket trading after the company reported results from a clinical trial showing its obesity drug tirzepatide helped patients lose up to 22.5% of their weight. Eli Lilly also reported better-than-expected earnings and revenue for the first quarter and boosted its full-year revenue guidance.
STOCK SYMBOL: LLY
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Pinterest — Shares for the image sharing company surged more than 8% on the back of better-than-expected earnings Wednesday. Pinterest reported adjusted earnings of 10 cents per share and revenues of $575 million. In comparison, analysts polled by Refinitiv expected earnings of 4 cents per share on revenues of $573 million.
STOCK SYMBOL: PINS
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Caterpillar — Shares of the global construction machine maker slid more than 1% despite Caterpillar beating top- and bottom-line estimates during the first quarter. The company earned $2.88 per share excluding items on $13.59 billion in revenue. Analysts were expecting the company to earn $2.60 per share on $13.4 billion in sales, according to estimates compiled by Refinitiv.
STOCK SYMBOL: CAT
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Qualcomm — Shares rallied roughly 7% premarket after a better-than-expected quarterly report. Qualcomm posted adjust earnings per share of $3.21 on revenue of $11.16 billion. Analysts were expected a profit of $2.95 per share on revenue of $10.63 billion, according to StreetAccount.
STOCK SYMBOL: QCOM
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ServiceNow — ServiceNow shares jumped more than 8% following the company’s first-quarter earnings report. The platform-as-a-service provider earned $1.73 per share on an adjusted basis and posted $1.72 billion in revenue. Wall Street was expecting $1.70 per share and $1.70 billion in revenue, according to data from StreetAccount.
STOCK SYMBOL: NOW
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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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