Good morning traders and investors of the r/stocks sub! Welcome to Thursday! Here are your pre-market stock movers & news on this Thursday, January the 26th, 2023-
S&P 500 futures rise slightly as investors weigh latest corporate earnings
S&P 500 futures advanced modestly Thursday as investors parsed through the latest batch of corporate earnings.
Futures tied to the broad index traded up 0.45%, while Nasdaq-100 futures gained 0.95%. Futures tied to the Dow traded 60 points, or 0.18% higher.
Earnings season trudged on with IBM dipping 2% despite exceeding analyst expectations. The legacy tech company also said it would cut 3,900 jobs. Tesla shares, meanwhile, jumped 7% after posting record revenue and better-than-expected fourth-quarter earnings.
Airline earnings rolled out with Southwest falling on a larger-than-expected loss fueled by its holiday meltdown. American Airlines rose on a fourth-quarter beat.
“Clearly, we’re moving through the heart of earnings season at this point,” said Bill Northey, senior investment director at U.S. Bank. “There has been some positive news and some less positive news.”
Investors are also keeping an eye on jobless claims data Thursday, the gross domestic product, and durable goods and new home sales.
Wall Street is coming off a mixed session. The Dow ended Wednesday up 0.03% after dropping more than 400 points earlier. The Nasdaq Composite and S&P 500 dipped just 0.18% and 0.02%, respectively.
Elsewhere, Chevron added almost 3% after announcing a $75 billion share repurchasing program.
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)
Southwest — The airline dropped 2.1% after reporting a $220 million loss for the fourth quarter after the holiday meltdown cost the company millions in expenses and drove up expenses.
STOCK SYMBOL: LUV
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Comcast — The media company reported fourth-quarter earnings that beat Wall Street’s expectations, with earnings per share coming in at 82 cents, adjusted, versus the 77 cents expected from analysts surveyed by Refinitiv. Revenue was $30.55 billion compared to the $30.32 expected. Shares, however, were down less than 1% in the premarket.
STOCK SYMBOL: CMCSA
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Tesla — The electric-vehicle maker soared 7% after reporting record revenue and an earnings beat. CEO Elon Musk said Tesla might be able to produce 2 million cars this year.
STOCK SYMBOL: TSLA
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Las Vegas Sands — Shares of the hotel and casino operator rose about 4% despite the company posting weaker-than-expected financial results for the most recent quarter. Wall Street analysts cited upbeat comments about its reopening in Macao on the company earnings call for their positive outlook on the stock.
STOCK SYMBOL: LVS
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Levi Strauss — Shares of the denim maker popped 6% premarket on a better-than-expected quarterly report. Levi Strauss topped analysts’ revenue estimates and beat earnings projections by 5 cents a share.
STOCK SYMBOL: LEVI
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Blackstone — Blackstone shares dipped less than 1% after the asset manager reported mixed earnings results. Total segment revenues fell short of expectations, while distributable earnings beat estimates by 12 cents a share.
STOCK SYMBOL: BX
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Chevron — The energy giant jumped more than 3% in premarket after the company announced a $75 billion stock buyback program and a dividend hike to $1.51 from $1.42 per share. The buyback program will become effective on April 1.
STOCK SYMBOL: CVX
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Dow — The chemicals giant posted fourth-quarter earnings, revenue and adjusted EBITDA that missed analyst expectations before the bell Thursday, sending the stock down more than 3% in premarket trading.
STOCK SYMBOL: DOW
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IBM — Shares of IBM shed 2.7% after the company reported quarterly results Wednesday that generally exceeded Wall Street’s expectations but included an announcement that the firm will cut 3,900 jobs. IBM reported adjusted earnings per share of $3.60 per share on $16.69 billion in revenue where analysts expected $3.60 per share and $16.4 billion in revenue, per Refinitiv.
STOCK SYMBOL: IBM
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American Airlines — The airline gained 1.5% after its fourth-quarter profits beat Wall Street’s expectations, thanks to strong holiday demand and high fares.
STOCK SYMBOL: AAL
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Seagate Technology — The data storage company jumped more than 8% in premarket trading after reporting earnings and revenue for the last quarter that beat expectations.
STOCK SYMBOL: STX
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Pfizer — The pharma giant was downgraded by UBS on Thursday, which said Pfizer’s Covid franchise estimates need to come down and its pipeline is too premature. Pfizer was up less than 1% in the premarket.
STOCK SYMBOL: PFE
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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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