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 25th, 2022-
U.S. stock futures are higher after Dow, S&P 500 break three-day slide
U.S. stock futures were higher Thursday morning after all three major averages ended higher during the daily trading session.
Dow Jones Industrial Average futures gained 118 points, or 0.4%. S&P 500 and Nasdaq 100 futures climbed 0.5% and 0.6%, respectively.
Snowflake jumped 17% after posting a beat on revenue. Shares of Nvidia slid 4% on the heels of a quarterly report that missed Wall Street’s expectations. Salesforce fell more than 6% after the company provided a disappointing forecast for fiscal 2023.
The Dow on Wednesday rose slightly along with the S&P 500. For both averages, the gains snapped three-day long losing streaks. The tech-heavy Nasdaq Composite also ticked up 0.41%.
The market action took place as investors await the start of the Jackson Hole economic symposium, which begins Thursday with Federal Reserve Chair Jerome Powell scheduled to speak the following morning. Traders will be listening for more information about how the central bank will combat high inflation and if policymakers may cut rates when the current hiking cycle is over.
“It’s steady as it goes, it’s way too early for the Fed to consider a pivot,” said Jim Bianco, president of Bianco Research, on CNBC’s “Fast Money.”
Investors are also waiting for key economic reports scheduled to come out later in the week, including jobless claims Thursday and the personal consumption expenditures Friday. The PCE report is one of the Fed’s favorite inflation measures, and it could influence its actions going forward.
Peloton reports quarterly earnings Thursday before the bell, along with Gap, Dollar Tree and Dollar General. Ulta Beauty, Workday and Affirm Holdings will release their own results after markets close 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)
Peloton (PTON) – Peloton tumbled 17.5% in premarket trading after reporting a larger than expected loss and revenue that fell well short of Street forecasts. Peloton also said its connected fitness business would remain challenging into 2023.
STOCK SYMBOL: PTON
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Abercrombie & Fitch (ANF) – Abercrombie shares took a 10.5% hit in the premarket after the apparel retailer reported an unexpected quarterly loss and lower than expected revenue numbers. It also cut its full year sales forecast, citing the impact of inflation.
STOCK SYMBOL: ANF
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Dollar General (DG) – Dollar General reported better than expected quarterly results, as well as same-store sales that rose more than analysts had anticipated. The discount retailer also increased its share repurchase authorization. The stock had been higher in the premarket but dipped negative after rival Dollar Tree cut its full-year forecast.
STOCK SYMBOL: DG
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Salesforce (CRM) – Salesforce slid 6.3% in premarket trading after the business software giant cut its full year guidance, as economic uncertainty slows the pace of customer deals. Salesforce posted better than expected sales and profit for its most recent quarter.
STOCK SYMBOL: CRM
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Nvidia (NVDA) – Nvidia fell 3.6% in the premarket after missing estimates on the top and bottom lines with its quarterly results. The graphics chipmaker also issued a tepid forecast, as its gaming business continues to deal with weakening demand.
STOCK SYMBOL: NVDA
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Autodesk (ADSK) – The design software maker’s stock surged 9.2% in premarket action after it gave an upbeat financial forecast and called demand “robust.” It also reported better than expected results for its latest quarter.
STOCK SYMBOL: ADSK
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Snowflake (SNOW) – Snowflake shares soared 19% off-hours trading after the data software company reported better than expected quarterly revenue. CEO Frank Slootman said the company’s consumption-based model – which lets customers adjust how much they use Snowflake’s services after signing a contract – is proving to be an advantage.
STOCK SYMBOL: SNOW
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Telehealth stocks – Shares of telehealth companies jumped following news that Amazon.com (AMZN) is shutting down its in-house telehealth service for employees. Teladoc Health (TDOC) gained 5.5%, Hims & Hers Health (HIMS) added 1.1% and Amwell (AMWL) jumped 7.7%.
STOCK SYMBOL: TDOC
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Callaway Golf (ELY) – Callaway Golf rose 2.1% in the premarket after announcing plans to change its name to Topgolf Callaway Brands, to reflect a lifestyle approach to its golf equipment and apparel offerings. The name change will be effective on or about September 6.
STOCK SYMBOL: ELY
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Victoria’s Secret (VSCO) – Victoria’s Secret lost 3.7% in premarket trading after the women’s intimate apparel maker cut its full year outlook. The company said it expected its customers to be impacted by inflation and other financial challenges.
STOCK SYMBOL: VSCO
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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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