Good Friday morning traders and investors of the r/stocks sub! Welcome to the final trading day of the week. Here are your pre-market movers & news this AM-
Stock futures fall, putting S&P 500 on track to snap a 4-week winning streak
Stock futures were lower on Friday, dimming hopes that the S&P 500 could grind out another positive week.
Futures for the S&P 500 fell 0.93%, while those tied to the Dow Jones Industrial Average dipped 260 points, or 0.77%. Nasdaq 100 futures slid 1.03%.
For the week, the S&P 500 entered Friday’s session up just 0.08%, and the Dow was up 0.7% in that time. The tech-heavy Nasdaq came into Friday riding a 0.6% weekly loss. The S&P 500 has posted a gain in each of the last four weeks.
While this week has seen relatively muted moves on Wall Street, it comes on the heels of a solid rally since mid-June.
“The market is doing a little consolidating this week, a little flip-flopping. … I think this is still a healthy market,” said Frank Gretz, a technical analyst at Wellington Shields, citing solid advance-decline ratios in recent weeks.
There are no major economic reports due out on Friday, but traders are still parsing through some key earnings. Applied Materials shares rose slightly in the premarket on the back of a better-than-expected quarterly report.
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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NEXT WEEK'S ECONOMIC CALENDAR:
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NEXT WEEK'S UPCOMING IPO'S:
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NEXT WEEK'S EARNINGS CALENDAR:
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(T.B.A. THIS WEEKEND.)
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)
Deere (DE) – Deere slid 5.2% in premarket trading after the heavy equipment maker missed quarterly earnings estimates despite higher-than-expected sales. Deere earned $6.16 per share, below the consensus estimate of $6.69, as it successfully implemented price hikes but also faced higher costs. The company also cut its full-year forecast.
STOCK SYMBOL: DE
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Foot Locker (FL) – Foot Locker surged 17.4% in the premarket after the athletic footwear and apparel retailer’s quarterly earnings beat analyst forecasts, and the company also announced a CEO transition. Former Ulta Beauty (ULTA) CEO Mary Dillon will replace Richard Johnson as CEO on Sept. 1.
STOCK SYMBOL: FL
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Bed Bath & Beyond (BBBY) – Bed Bath & Beyond plunged 42.7% in premarket trading following news that investor Ryan Cohen had sold his entire stake in the housewares retailer, garnering a profit of more than $58 million.
STOCK SYMBOL: BBBY
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Ross Stores (ROST) – Ross Stores reported better-than-expected earnings for its latest quarter, but its revenue was below Wall Street forecasts, and the company issued a weaker than expected full-year outlook. The company said its results were impacted by higher costs as well as increased promotional activity. The stock fell 1% in premarket action.
STOCK SYMBOL: ROST
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Applied Materials (AMAT) – Applied Materials beat estimates by 15 cents with adjusted quarterly profit of $1.94 per share, and the maker of semiconductor manufacturing equipment saw revenue top forecasts as well. It also gave an upbeat current quarter revenue forecast as chipmakers increase production.
STOCK SYMBOL: AMAT
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C/oinbase (C/OIN) – The c/rypto exchange operator’s stock slid 8.6% in premarket trading, falling in sympathy with the sudden overnight drop in b/itcoin prices. Microstrategy (MSTR), the business analytics company with extensive b/itcoin holdings, saw its stock fall 9.3%.
STOCK SYMBOL: COIN
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Home Depot (HD) – Home Depot announced a new $15 billion share repurchase program, replacing a prior authorization. The home improvement retailer also announced that CEO Ted Decker will replace former CEO Craig Menear as chairman, effective October 1.
STOCK SYMBOL: HD
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Madison Square Garden Entertainment (MSGE) – Madison Square Garden Entertainment rallied 7.3% in the premarket following news that its board is mulling a spin-off that would contain the company’s live entertainment and MSG Networks businesses.
STOCK SYMBOL: MSGE
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Bill.com (BILL) – Bill.com surged 18.5% in premarket trading after the financial back-office software provider reported better-than-expected quarterly results and issued upbeat guidance.
STOCK SYMBOL: BILL
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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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