Good morning traders and investors of the r/stocks sub! Welcome to Thursday! Here are your pre-market stock movers & news on this Thursday, August the 11th, 2022-
Stock futures gain as the market looks to build on Wednesday’s rally; Disney shares soar
Stock futures rose on Thursday after all the major averages posted sharp gains in the prior session on the back of a better-than-expected July inflation report.
Futures tied to the Dow Jones added 0.5% or 153 points, while S&P 500 futures and Nasdaq 100 futures climbed 0.3% and 0.2% higher, respectively.
Disney shares jumped more than 8% in premarket trading after the media giant posted stronger-than-anticipated subscriber numbers for the last quarter, along with earnings and revenue that topped expectations. Disney also said it would raise prices for Disney+.
Wednesday’s regular trading session saw all the major indexes rally, with the Dow Jones Industrial Average jumping 535.10 points, or 1.63%, to close at 33,309.51. The S&P 500 added 2.13% to 4,210.24 and hit its highest level since early May, while the Nasdaq Composite gained 2.89% to 12,854.80, its highest close since late April. The S&P 500 has now rallied more than 15% off its mid-June bear market low and now sits 12% off its record high.
Hopes that inflation is peaking drove the rally after the consumer price index for July came in at 8.5%, slightly cooler than the 8.7% expected by analysts surveyed by Dow Jones and a slowing pace from the prior month.
“We’re rallying, and I think it’s really because inflation has been such an overhang for investors and for the market,” Lindsey Bell, Ally Invest’s chief markets and money strategist told CNBC’s “Closing Bell” on Wednesday.
Earnings season continues Thursday with reports from Rivian, Illumina, Poshmark and more. July producer price index data is also slated for Thursday.
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)
Six Flags (SIX) – The theme park operator’s stock tumbled 12.8% in the premarket after its quarterly profit and revenue fell well short of Wall Street forecasts. Six Flags saw its results hit by a 22% drop in attendance, among other factors.
STOCK SYMBOL: SIX
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Canada Goose (GOOS) – The outerwear maker reported a smaller-than-expected quarterly loss, with revenue exceeding analyst forecasts. Canada Goose is the latest luxury retailer to see its high-end consumers maintain their spending levels. The stock added 2.4% in premarket trading.
STOCK SYMBOL: GOOS
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Warby Parker (WRBY) – The eyewear retailer reported a smaller-than-expected quarterly loss, with sales exceeding estimates. Active customer numbers rose 8.7% from a year earlier.
STOCK SYMBOL: WRBY
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Utz Brands (UTZ) – The salty snacks maker’s stock jumped 8.2% in the premarket after reporting quarterly profit and revenue that was better than expected, as well as raising its full-year sales outlook.
STOCK SYMBOL: UTZ
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Cardinal Health (CAH) – Cardinal Health fell 1% in the premarket after reporting a mixed quarter, with the pharmaceutical distributor’s earnings beating Street forecasts while revenue came up short of estimates. Cardinal Health also announced that CEO Mike Kaufmann will step down on September 1, to be succeeded by Chief Financial Officer Jason Hollar.
STOCK SYMBOL: CAH
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Walt Disney (DIS) – Disney rallied 8.9% in the premarket after reporting better-than-expected quarterly earnings and announcing a December 8 launch date for an ad-supported version of its Disney+ streaming service. It also announced it would increase the price of its ad-free service to $10.99 per month from $7.99.
STOCK SYMBOL: DIS
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Sonos (SONO) – Sonos skidded 17.6% in the premarket after its breakeven quarter surprised analysts, who were expecting a profit. Revenue was also well below Wall Street forecasts, with the company cutting its full-year forecast in the face of economic challenges. The maker of high-end speakers also announced the departure of CFO Brittany Bagley as of September 1.
STOCK SYMBOL: SONO
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Bumble (BMBL) – Bumble tumbled 8.9% in premarket trading after the dating service operator cut its annual revenue forecast. Bumble is facing stiff competition from rivals such as Tinder parent Match Group (MTCH), and its Badoo dating app – which is popular in Western Europe – has been hurt by the war in Ukraine.
STOCK SYMBOL: BMBL
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Vacasa (VCSA) – Vacasa soared 24.7% in premarket action after the provider of vacation rental services raised its full-year outlook amid a surge in demand. Vacasa also reported a surprise quarterly profit.
STOCK SYMBOL: VCSA
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Vizio (VZIO) – Vizio gained 2% in premarket trading after the maker of smart TVs and other consumer entertainment equipment reported a surprise profit for its latest quarter, with average revenue per user up 54% from a year earlier.
STOCK SYMBOL: VZIO
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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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