Today's Pre-Market News [Wednesday, Feb. 27th, 2019] : stocks

Today’s Pre-Market News [Wednesday, Feb. 27th, 2019] : stocks

Good morning traders and investors of the r/stocks sub! Welcome to Wednesday! Here are your pre-market news this AM-

  • Futures were lower this morning as President Donald Trump meets with North Korean leader Kim Jong Un for the first in-person discussion of their summit. Stocks had a back and forth session Tuesday before ending slightly lower, giving the Dow, S&P 500 and Nasdaq their first declines in three days. (CNBC)

  • Saudi energy minister responds to Trump’s tweet that said OPEC should ‘relax’ (CNBC)

  • Cramer: Buy names like Caterpillar and Home Depot because this bull market is about to go higher (CNBC)

  • As they did yesterday, investors will have a chance to react to testimony from Fed Chairman Jerome Powell, whose second day of testimony on Capitol Hill will come before the House Financial Services Committee. The major averages remain on track for a third monthly gain in four months. (CNBC)

  • Weight Watchers (WTW) shares were 34 percent lower after the company missed earnings and revenue forecasts. It also issued a weaker-than-expected 2019 revenue guidance. Oprah Winfrey’s stake fell by almost $48 million, at least on paper, after the company released results. (CNBC)

  • Several pieces of housing-related data will be out today, beginning with the Mortgage Bankers Association’s weekly reading on mortgage applications at 7 a.m. ET. At 10 a.m. ET, the National Association of Realtors will issue its pending home sales report for January. December factory orders are out at 10 a.m. ET. (CNBC)

  • Weekly mortgage applications jump 5.3% as lower rates seem here to stay (CNBC)

  • Best Buy (BBY), Campbell Soup (CPB) and Lowe’s (LOW) are among the companies with quarterly numbers this morning, while HP Inc. (HPQ), Booking Holdings (BKNG), Hostess Brands (TWNK), L Brands (LB), Perrigo (PRG) and Wingstop (WING) are among the reports after today’s closing bell. (CNBC)

  • Best Buy shares soar 11% on earnings beat (CNBC)

  • Lowe’s shares dip as sales fall short of Wall Street expectations (CNBC)

  • President Donald Trump and North Korean leader Kim Jong Un met today face-to-face for the first time since their historic summit last year. The leaders are sharing what the White House called “a social dinner.” (CNBC)

  • Trump tries to convince Kim that the summit is North Korea’s chance for an economic boom (CNBC)

  • Trump’s former personal lawyer Michael Cohen’s public testimony before the House oversight committee today is expected to include a series of remarkable allegations about the president as well as the presidential campaign. (CNBC)

  • Read Michael Cohen’s opening statement (CNBC)

  • The House voted to block Trump’s national emergency declaration, passing the resolution in a 245-182 vote. The measure would terminate the action Trump took to secure billions to build his proposed wall along the southern border. (CNBC)

  • A Senate panel grilled top executives from seven of the largest pharmaceutical companies at a hearing on prescription drug prices.The executives have a number of ideas to reduce drug prices for patients, except lowering list prices. (CNBC)

  • Pakistan shot down two Indian jets today, a spokesman for the Pakistan armed forces said, a day after Indian warplanes struck inside Pakistan for the first time since a war in 1971. (Reuters)

  • Former federal prosecutor Lori Lightfoot and Cook County Board President Toni Preckwinkle are headed to an April 2 runoff to decide who will become the nation’s third-largest city’s next mayor, topping a crowded field of 14 candidates. (USA Today)

  • At least three people were killed after two Long Island Rail Road trains late last night struck a vehicle that had swerved onto the tracks. The rush-hour collision occurred about 30 miles east of Manhattan, setting off fires. (NY Times)

  • Wynn Resorts (WYNN) was fined $20 million in connection with a probe by Nevada regulators into sexual misconduct allegations against former CEO Steve Wynn. It was the largest fine ever assessed by the state’s gambling regulators. (WSJ)

  • IBM (IBM) appointed Admiral Michelle J. Howard, the first African American woman to command a U.S. Navy ship, to its board, the company announced. A former U.S. Navy officer, Howard was the first woman to become a four-star admiral. (CNBC)

Read about:   Credit Cards & Lending with Chase Private Client | Chase

STOCK FUTURES CURRENTLY:


YESTERDAY’S MARKET MAP:


TODAY’S MARKET MAP:


YESTERDAY’S S&P SECTORS:


TODAY’S S&P SECTORS:


TODAY’S ECONOMIC CALENDAR:


THIS WEEK’S ECONOMIC CALENDAR:


THIS WEEK’S UPCOMING IPO’S:


THIS WEEK’S EARNINGS CALENDAR:

($SQ $HD $CHK $ETSY $JD $M $MDR $PCG $FIT $AMRN $LOW $JCP $WTW $KOS $PANW $BKNG $ABB $BBY $SPLK $VEEV $AZO $TEX $TRXC$SHAK $NTNX $ECA $JT $WDAY $CRI $DNR $TNDM $AWI $DORM $GWPH $HTZ $TREE $PLAN $NSA $ICPT $FLXN $BNS $CROX $RRC)


THIS MORNING’S PRE-MARKET EARNINGS CALENDAR:

($CHK $AMRN $LOW $BBY $TJX $DNR $WATT $CPB $AMT $ODP $HZNP $IONS $ADAP $AES $DF $DY $PVAC $PGTI $SBGI $SMLR $PEG $EYE$CCLP $ANIP $SHOO $DOC $TAST $NOVT $LIVN $GNL $CIO $CLH $FTDR $WAAS $RESI $RDC $GTE $HPT $MGPI $EE)


THIS AFTERNOON’S POST-MARKET EARNINGS CALENDAR:

($SQ $FIT $BKNG $BILI $TDOC $BOX $AYX $LB $SRPT $HPQ $AMED $WING $CRC $APA $MNST $CVNA $WTI $UHS $PRGO $LHCG $RUBI $CHDN $WIFI $SOI $HGV $GPOR $PRAH $BGNE $NLNK $PRTK $ESTC $ANSS $RGNX $FTSI $ITRI $FTAI $LADR $ATSG $COLL $TWNK)


EARNINGS RELEASES BEFORE THE OPEN TODAY:


EARNINGS RELEASES AFTER THE CLOSE TODAY:


YESTERDAY’S ANALYST UPGRADES/DOWNGRADES:


YESTERDAY’S INSIDER TRADING FILINGS:


TODAY’S DIVIDEND CALENDAR:


THIS MORNING’S MOST ACTIVE TRENDING TICKERS:

  • AMRN 0.45%

  • WTW 34.46%

  • PANW 11.29%

  • MYL 10.19%

  • BBY 10.57%

  • TNDM 19.33%

  • LOW 3.25%

  • TSLA 1.65%

  • RDC 0.00%

  • ACAD 0.26%


THIS MORNING’S STOCK NEWS MOVERS:


Lowe’s – The home improvement retailer beat estimates by a penny a share, with quarterly profit of 80 cents per share. Revenue was slightly below forecasts, and a 1.7 percent comparable-store sales increase was below the Refinitiv forecast of a 2.1 percent rise.

STOCK SYMBOL: LOW


Best Buy – The electronics retailer reported adjusted quarterly profit of $2.72 per share, 15 cents a share above estimates. Revenue also beat forecasts. Comparable-store sales were up 3 percent, better than the 2 percent Refinitiv estimate. Best Buy also gave an upbeat full-year earnings forecast, and announced a dividend increase to 50 cent per share from 45 cents.

STOCK SYMBOL: BBY


Campbell Soup – Campbell beat estimates by 7 cents a share, with adjusted quarterly profit of 77 cents per share. Revenue topped forecasts, as well. Campbell reported flat organic sales, however, and saw profit margins fall.

STOCK SYMBOL: CPB


Office Depot — The office products retailer earned an adjusted 9 cents per share for its latest quarter, 1 cent a share above estimates. Both revenue and comparable-store sales were below analysts’ forecasts, however.

STOCK SYMBOL: ODP


Dean Foods — The nation’s largest milk producer reported a quarterly loss of 50 cents per share, nearly twice the 26 cents a share loss that analysts were anticipating. Revenue exceeded forecasts, but Dean said it experienced a significant increase in input costs. Dean also said it is exploring strategic alternatives including possible asset sales, and announced the suspension of its quarterly dividend.

STOCK SYMBOL: DF


Weight Watchers – Weight Watchers missed estimates by 14 cents, with adjusted quarterly profit of 46 cents per share. The weight loss company’s revenue also missed forecasts and the company issued weaker-than-expected 2019 revenue guidance. Weight Watchers said it was disappointed with its 2019 start.

STOCK SYMBOL: WTW


Papa John’s – Papa John’s fell 2 cents a share short of estimates, with adjusted quarterly profit of 15 cents per share. The pizza chain’s revenue was also short of analysts’ forecasts. North American comparable-store sales fell 8.1 percent during the quarter, and 7.3 percent for the full year The company’s 2019 comparable-store sales forecast is stronger than analysts had been expecting.

STOCK SYMBOL: PZZA


Mylan – Mylan reported adjusted quarterly profit of $1.30 per share, falling 6 cents a share shy of consensus forecasts. The generic drugmaker’s revenue was in line with Street projections. Mylan also issued weaker-than-expected 2019 earnings guidance as it spends more on research, development, and marketing.

STOCK SYMBOL: MYL


Deutsche Bank – U.S. private-equity firm Cerberus would be open to a merger between Deutsche Bank and Commerzbank, according to a Reuters report. Cerberus is a major shareholder in both German banks.

STOCK SYMBOL: DB


Facebook – Facebook will launch a “clear history” feature later this year, allowing users to erase data related to their interactions with various apps and websites.

STOCK SYMBOL: FB


Home Depot – Home Depot was downgraded to “market perform” from “outperform” at Telsey, which said it came away from the home improvement retailer’s earnings call with concerns that the guidance of a 5 percent comparable sales increase could prove to be too optimistic.

STOCK SYMBOL: HD


Rio Tinto – Rio Tinto reported better-than-expected profit for its latest quarter, as well as its highest earnings since 2014. The mining company also announced a regular and special dividend, as well as giving an upbeat outlook for its iron ore business.

STOCK SYMBOL: RIO


Liberty Global – Liberty is in advanced discussions to sell its Swiss internet and digital TV unit to Zurich-based Sunrise Communications for $6.3 billion, according to a Reuters report.

STOCK SYMBOL: LBTYA


Wynn Resorts – Wynn was fined $20 million in connection with a probe by Nevada regulators into sexual misconduct allegations against former CEO Steve Wynn. It was the largest fine ever assessed by the state’s gambling regulators.

STOCK SYMBOL: WYNN


AT&T — The Justice Department said it would not appeal Tuesday’s court ruling rejecting its challenge to the approval of AT&T’s acquisition of Time Warner.

STOCK SYMBOL: T


Blackstone Group – The private-equity firm and drugmaker Novartis have formed a joint venture to develop drugs that treat blood clots.

STOCK SYMBOL: BX


Gap – Gap announced a new $1 billion stock buyback program. The apparel retailer also announced it would maintain its annual dividend at the current 97 cents per share for fiscal 2019.

STOCK SYMBOL: GPS


GW Pharmaceuticals – GW reported better-thanexpected earnings for its latest quarter, although the drugmaker’s revenue was short of Street forecasts. GW Pharma said it is seeing strong demand for its new Epidiolex epilepsy drug.

STOCK SYMBOL: GWPH


Palo Alto Networks – Palo Alto beat estimates on both the top and bottom lines, with the cybersecurity company seeing a 33 percent jump in its products business and a 29 percent increase in services revenue. It also gave an upbeat revenue forecast.

STOCK SYMBOL: PANW


DISCUSS!

What is on everyone’s radar for today’s trading day ahead here at r/stocks?


I hope you all have an excellent trading day ahead today on this Wednesday, February 27th, 2019! 🙂