Good morning traders and investors of the r/stocks sub! Welcome to Tuesday! Here are your pre-market stock movers & news on this Tuesday, January the 24th, 2023-
Stock futures dip after back-to-back gains on Wall Street
Stock futures dipped slightly Tuesday as investors struggled to continue a strong start to the week during a busy stretch of corporate earnings.
Futures tied to the Dow Jones Industrial Average fell 100 points, or 0.3%. S&P 500 futures slipped 0.3%, and Nasdaq-100 futures pulled back by 0.4%.
The moves in futures comes after a solid start to the week on Wall Street. On Monday, the Nasdaq Composite led with a gain of 2.01%. The S&P 500 and Dow added 1.19% and 0.76%, respectively. It was the second straight positive day for the major averages, and all three are up in 2023.
The gains have come despite an underwhelming start to earnings season and more signs that the U.S. economy is slowing, with some expected the rally to level off.
“We do not see much scope for markets to rally in the near term, especially given our outlook for continued pressure on corporate profit growth,” wrote Mark Haefele, chief investment office at UBS Global Wealth Management, in a Tuesday note to clients.
That’s in part because Monday’s close levels sits above the firm’s respective June and December price targets for the S&P of 3,700 and 4,000.
Earnings season continues Tuesday with results from software giant Microsoft after the bell.
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 MONTH'S EARNINGS CALENDAR:
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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)
Verizon — Verizon shares slipped 1.51% after the company posted mixed results for the 2022 fourth quarter. While earnings met analyst predictions, forward earnings fell short of a Refinitiv consensus estimate.
STOCK SYMBOL: VZ
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Bed Bath & Beyond — The meme stock gained 5.78%, building on its dramatic start to the year, even as the retailer warns of a potential bankruptcy. Year to date, Bed Bath & Beyond shares are up 17.1%.
STOCK SYMBOL: BBBY
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Lyft — The ride-sharing stock gained 3.4% following an upgrade from KeyBanc, which Lyft should feel positive impacts from cost-saving measures including layoffs and a stabilization in demand.
STOCK SYMBOL: LYFT
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Johnson & Johnson — Shares of the drug maker ticked higher by less than 1% premarket after the company reported mixed quarterly financial results. Johnson & Johnson beat profit estimates by 10 cents per share, excluding items, according to Refinitiv. It also missed revenue estimates. Its full-year outlook for earnings was slightly higher than estimates while its revenue forecast was about in line with estimates.
STOCK SYMBOL: JNJ
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Blackstone — Shares rose 1.3% after JPMorgan upgraded Blackstone to overweight from neutral, saying the investment management firm is a “best in class” business that’s set for a soft landing.
STOCK SYMBOL: BX
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Lululemon — The athleisure retailer fell 2.07% after Bernstein downgraded the stock, warning that a reset is coming for the apparel stock and noting the company is facing an inflection point in its growth.
STOCK SYMBOL: LULU
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Lockheed Martin — Lockheed Martin shares gained 1.52% after the company posted latest quarterly results. The defense company’s revenue came in at $18.99 billion, topping a Refinitiv forecast of $18.27 billion. Lockheed’s earnings per share also topped expectations.
STOCK SYMBOL: LMT
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AMD — The chip stock fell more than 2% in premarket after Bernstein downgraded the chipmaker to market perform from outperform. The Wall Street firm said the downgrade is due to the sliding computer and new parts demand in the inflationary environment.
STOCK SYMBOL: AMD
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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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