Good morning traders and investors of the r/stocks sub! Welcome to Hump Day! Here are your pre-market stock movers & news on this Wednesday, April the 20th, 2022-
S&P 500 futures are flat, Netflix shares tank after disappointing results, outlook
S&P 500 futures were little changed Wednesday as investors digested disappointing Netflix earnings along with a host of other corporate reports that helped pull the other major indexes in opposite directions.
Futures tied to the broad market index were just 0.01% lower. Dow Jones Industrial Average futures were up 47 points, or 0.1%, helped by strong earnings from Procter & Gamble. Nasdaq 100 futures lost 0.2%.
Netflix dragged down Nasdaq futures, posting a 26% loss in its share price in premarket trading after reporting a loss of 200,000 subscribers in the first quarter. The news led shares of streaming companies Disney, Roku, Warner Bros. Discovery and Paramount to fall, as investors and could further worry investors about buying technology stocks ahead of earnings. A slew of analysts also slashed their ratings on Netflix following its first-quarter results.
Meanwhile, Procter & Gamble’s better-than-expected results sent the stock up about 1%. Procter also hiked its full-year revenue guidance. Shares of IBM, another Dow component, rose more than 1% following a beat on earnings and revenue.
Tesla and United Airlines are slated to report after the bell.
All the major averages saw strong gains on Tuesday, posting their best day since March 16. The Nasdaq Composite bounced back 2.15%, while the Dow Jones Industrial Average rose 499.51 points, or 1.45% and the S&P 500 gained 1.61%.
Tuesday’s stock market rally was broad-based with 10 out of 11 sectors ending the session in the positive, led by consumer discretionary. Some of the biggest gains came from Microsoft and Alphabet, which rose 1.7% and 1.8%, respectively, while airline stocks jumped after TSA lifted mask mandates on planes in response to a Florida court ruling.
Meanwhile, the 10-year Treasury yield hit above 2.94%, its highest level since December 2018. Oil prices fell about 5% after the International Monetary Fund cut its economic growth forecasts and warned of risks from higher inflation.
“I just think today we’re in a market where different things are shining,” Ally Invest’s Lindsey Bell told CNBC’s “Closing Bell” on Tuesday. “We’ve got a great earnings season so far and today the market is focusing on that. They’re focusing on the VIX that’s coming down and of course, oil prices — the fall in oil prices helps the inflationary story.”
STOCK FUTURES CURRENTLY:
(CLICK HERE FOR STOCK FUTURES CHARTS!)
YESTERDAY'S MARKET MAP:
(CLICK HERE FOR YESTERDAY'S MARKET MAP!)
TODAY'S MARKET MAP:
(CLICK HERE FOR TODAY'S MARKET MAP!)
YESTERDAY'S S&P SECTORS:
(CLICK HERE FOR YESTERDAY'S S&P SECTORS CHART!)
TODAY'S S&P SECTORS:
(CLICK HERE FOR TODAY'S S&P SECTORS CHART!)
TODAY'S ECONOMIC CALENDAR:
(CLICK HERE FOR TODAY'S ECONOMIC CALENDAR!)
THIS WEEK'S ECONOMIC CALENDAR:
(CLICK HERE FOR THIS WEEK'S ECONOMIC CALENDAR!)
THIS WEEK'S UPCOMING IPO'S:
(CLICK HERE FOR THIS WEEK'S UPCOMING IPO'S!)
THIS WEEK'S EARNINGS CALENDAR:
(CLICK HERE FOR THIS WEEK'S EARNINGS CALENDAR!)
THIS MORNING'S PRE-MARKET EARNINGS CALENDAR:
(CLICK HERE FOR THIS MORNING'S EARNINGS CALENDAR!)
EARNINGS RELEASES BEFORE THE OPEN TODAY:
(CLICK HERE FOR THIS MORNING'S EARNINGS RELEASES!)
EARNINGS RELEASES AFTER THE CLOSE TODAY:
(CLICK HERE FOR THIS AFTERNOON'S EARNINGS RELEASES!)
YESTERDAY'S ANALYST UPGRADES/DOWNGRADES:
(CLICK HERE FOR YESTERDAY'S ANALYST UPGRADES/DOWNGRADES LINK #1!)
(CLICK HERE FOR YESTERDAY'S ANALYST UPGRADES/DOWNGRADES LINK #2!)
(CLICK HERE FOR YESTERDAY'S ANALYST UPGRADES/DOWNGRADES LINK #3!)
YESTERDAY'S INSIDER TRADING FILINGS:
(CLICK HERE FOR YESTERDAY'S INSIDER TRADING FILINGS!)
TODAY'S DIVIDEND CALENDAR:
(CLICK HERE FOR TODAY'S DIVIDEND CALENDAR!)
THIS MORNING'S STOCK NEWS MOVERS:
(source: cnbc.com)
**Netflix (NFLX) – Netflix plummeted 26.8% in the premarket after reporting it lost 200,000 subscribers during the first quarter. The streaming service had projected subscriber additions of 2.5 million. Netflix also said it was exploring an ad-supported version.
STOCK SYMBOL: NFLX
(CLICK HERE FOR LIVE STOCK QUOTE!)
**Walt Disney (DIS), Roku (ROKU), Warner Brothers Discovery (WBD) – Other streaming-related companies saw their stocks fall in sympathy with Netflix. Disney slid 5% in the premarket, Roku tumbled 6.7% and Warner Brothers Discovery lost 4.3%.
STOCK SYMBOL: DIS
(CLICK HERE FOR LIVE STOCK QUOTE!)
STOCK SYMBOL: ROKU
(CLICK HERE FOR LIVE STOCK QUOTE!)
STOCK SYMBOL: WBD
(CLICK HERE FOR LIVE STOCK QUOTE!)
**Procter & Gamble (PG) – The consumer products giant’s stock gained 1.1% in premarket trading after a top and bottom-line beat. Procter exceeded estimates by 4 cents with adjusted quarterly earnings of $1.33 per share and saw its biggest year-over-year sales gain in two decades as demand remained high for household products, even in the face of higher prices. Procter also raised its organic sales guidance.
STOCK SYMBOL: PG
(CLICK HERE FOR LIVE STOCK QUOTE!)
**Baker Hughes (BKR) – The oilfield services company fell 5 cents short of estimates with adjusted quarterly earnings of 15 cents per share, and revenue also missed forecasts. Baker Hughes said its results reflected a volatile operating environment, and the stock fell 2% in premarket action.
STOCK SYMBOL: BKR
(CLICK HERE FOR LIVE STOCK QUOTE!)
**Lululemon (LULU) – Luluemon added 2.2% in the premarket after the apparel maker announced a five-year plan to double revenue. The plan focuses on quadrupling international sales and doubling revenue from its men’s and digital operations.
STOCK SYMBOL: LULU
(CLICK HERE FOR LIVE STOCK QUOTE!)
**IBM (IBM) – IBM reported an adjusted quarterly profit of $1.40 per share, 2 cents above estimates, with revenue also coming in above analyst forecasts. IBM’s results got a boost from strong hybrid cloud platform business. IBM shares rallied 2.7% in premarket trading.
STOCK SYMBOL: IBM
(CLICK HERE FOR LIVE STOCK QUOTE!)
**ASML (ASML) – ASML’s latest quarter beat analyst forecasts on the top and bottom lines, with the Amsterdam-based semiconductor equipment maker reporting strong demand from chip makers trying to ramp up production. ASML shares jumped 5.4% in the premarket.
STOCK SYMBOL: ASML
(CLICK HERE FOR LIVE STOCK QUOTE!)
**Teva Pharmaceutical (TEVA) – Teva shares slid 4.8% in premarket trading after the FDA sent a rejection letter in response to a new drug application for a schizophrenia treatment. Teva said it is studying possible next steps and will work with the FDA to address the agency’s concerns.
STOCK SYMBOL: TEVA
(CLICK HERE FOR LIVE STOCK QUOTE!)
**Omnicom (OMC) – Omnicom reported better-than-expected profit and revenue for its latest quarter, despite what the ad agency operator called “uniquely challenging global events.” Omnicom took a $113.4 million charge relating to its investment in Russian businesses. Shares added 3.7% in premarket action.
STOCK SYMBOL: OMC
(CLICK HERE FOR LIVE STOCK QUOTE!)
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?
Leave a Reply