Good morning traders and investors of the r/stocks sub! Welcome to Thursday! Here are your pre-market stock movers & news on this Thursday, February the 17th, 2022-
Stock futures come off lows after upbeat Walmart earnings; Fed, Russia in focus
Stock futures dipped in early morning trading Thursday but were off their lows as strong earnings from Walmart helped boost sentiment.
Futures on the Dow Jones Industrial Average shed 70 points, or 0.2%. S&P 500 futures declined 0.3% and Nasdaq 100 futures ticked down 0.4%.
A slew of companies reported quarterly results after the bell Wednesday. DoorDash surged more than 26% in premarket trading after reporting a loss while saying revenue rose and issuing upbeat guidance. Cisco rose 3.5% after also topping estimates and raising guidance, and Applied Materials added 2%.
In early earnings action, Walmart topped expectations and reaffirmed guidance, sending shares up 1.7% in premarket trading and helping to shave losses for futures. Investors also are awaiting quarterly reports from Airbus, Autonation and Nestle.
Weekly jobless claims numbers will also be released Thursday morning. Initial filings for unemployment benefits are expected to total 218,000, according to a Dow Jones estimate. That would be a slight decline from the week before. The market also will get a look at housing starts and building permits as well as the Philadelphia Fed’s manufacturing index.
The S&P 500 in Wednesday’s regular trading session closed little changed, while the Dow shed nearly 55 points and the Nasdaq Composite dipped 0.1%.
The major stock averages came off their lows Wednesday after the release of minutes from the Fed’s January meeting.
The meeting summary showed the Fed is prepared to hike interest rates and reduce its balance sheet soon, as investors had already expected.
“Marketwise it’s not the barn burner it could have been,” said Michael Schumacher, director of rates at Wells Fargo. “I think this tells us very little about Fed policy.”
Ongoing tension at the Russia-Ukraine border continued to impact market sentiment.
NATO officials on Wednesday accused Russia of increasing troop numbers at the Ukrainian border. U.S. and Russian aircraft in the Mediterranean Sea flew close to each other over the weekend, The Wall Street Journal reported Wednesday
Russia expressed caution Thursday about disturbances in eastern Ukraine and cautioned it will take time to remove troops from the border.
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)
Walmart (WMT) – Walmart stock rose 2.9% in the premarket after the retail giant reported better-than-expected quarterly results. Walmart earned an adjusted $1.53 per share, 3 cents above estimates, issued an upbeat forecast, and announced a dividend hike.
STOCK SYMBOL: WMT
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AutoNation (AN) – The auto retailer earned an adjusted $5.76 per share for the fourth quarter, beating the consensus estimate of $4.96. Revenue was also above estimates, driven by a 55% surge in used vehicle sales. AutoNation shares jumped 3% in premarket trading.
STOCK SYMBOL: AN
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DoorDash (DASH) – DoorDash soared 24.1% in premarket trading after the food delivery service issued an upbeat outlook for the current quarter. Doordash reported a fourth-quarter loss but saw a 69% surge in revenue for 2021 even as restaurants reopened for dine-in service.
STOCK SYMBOL: DASH
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Cisco (CSCO) – Cisco beat estimates by 3 cents with adjusted quarterly earnings of 84 cents per share. The networking equipment and software maker also reported better-than-expected revenue and issued an upbeat full-year forecast as it sees particularly strong demand from cloud computing companies. Cisco rose 3.5% in the premarket.
STOCK SYMBOL: CSCO
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Nvidia (NVDA) – Nvidia reported adjusted quarterly earnings of $1.32 per share, 10 cents above estimates. The graphics chip maker also reported better-than-expected revenue for the quarter and gave an upbeat outlook. However, the stock came under pressure on concerns about flat profit margins and its exposure to the c/ryptocurrency market. Nvidia was down 2.5% in premarket action.
STOCK SYMBOL: NVDA
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Palantir Technologies (PLTR) – The software platform provider’s stock slid 8% in premarket trading after quarterly earnings fell short of forecasts. Palantir’s adjusted profit of 2 cents per share was half of what analysts predicted, although revenue exceeded forecasts.
STOCK SYMBOL: PLTR
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Tripadvisor (TRIP) – Tripadvisor tumbled in the premarket after reporting an unexpected quarterly loss and revenue that fell short of analyst forecasts. The travel review site operator said it expects significant improvement in the travel market this year after what it called “unexpected periods of virus resurgence” in 2021. Shares tumbled 7.9% in premarket trading.
STOCK SYMBOL: TRIP
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Fastly (FSLY) – Fastly shares plummeted 31.9% in the premarket after the internet content delivery company gave lower-than-expected 2022 guidance. Fastly reported a narrower-than-expected fourth-quarter loss and revenue that came in above consensus estimates.
STOCK SYMBOL: FSLY
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Hasbro (HAS) – Hasbro rallied 4% in premarket trading after activist investor Alta Fox Capital Management nominated five directors to the toy maker’s board. Alta Fox is pushing for Hasbro to spin off its fast-growing games unit.
STOCK SYMBOL: HAS
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Cheesecake Factory (CAKE) – The restaurant operator’s shares jumped 4% in the premarket even though earnings came in below forecasts. A revenue beat was negated by increased input costs, but Cheesecake Factory is planning a price hike in new menus now being printed and said it may lift prices further later this year.
STOCK SYMBOL: CAKE
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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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