Search

What to watch today: Stock futures jump as two Dow stocks move in opposite directions - CNBC

rinwengi.blogspot.com

BY THE NUMBERS

U.S. stock futures rallied Tuesday, with the S&P 500 and the Nasdaq set to open up roughly 1.5% and nearly 2%, respectively. The Dow looked ready to open more than 350 points, or over 1%, higher. That's despite a nearly 6% premarket decline in Dow component Walmart (WMT) after mixed quarterly results due to rising costs. A different story at Home Depot (HD), which weathered inflation. The Dow stock rose 3.5% in the premarket after stronger quarterly results. (CNBC)

The 30-year Treasury yield ticked higher Tuesday to around 2.95% after the government's before-the-bell release showed a slightly less-than-expected increase of 0.9% in April retail sales month over month. On a year over year basis, retail sales rose 8.2%. The March numbers were revised sharply higher. Investors are hoping to learn from all the retail numbers how consumer are reacting to rampant price pressures — and in turn, whether the Fed might need to dial up interest rate hikes to fight inflation. (CNBC)

IN THE NEWS TODAY

Walmart on Tuesday reported first-quarter earnings that missed expectations by a wide margin. The nation's largest grocer and retailer felt pressure from rising costs of food and fuel. Revenue for the quarter beat estimates. That mixed picture carried over to Walmart's guidance, raising its outlook for sales this year but lowering profit expectations. (CNBC)

Despite spiking inflation, consumers were still willing to spend money on their homes, and Home Depot does not expect the trend to reverse. The company on Tuesday reported better-than-expected earnings and revenue for the first quarter. Home Depot raised its full-year outlook, now expecting sales to increase about 3% and earnings per share growth in the mid single digits on a percentage basis. (CNBC)

Elon Musk said his $44 billion purchase of Twitter (TWTR) will not move ahead until he has more clarity on how many accounts are fake. Twitter estimated in a filing earlier this month that number was at fewer than 5% in the first quarter. But Musk, CEO of Tesla (TSLA) and SpaceX, estimates bots at around 20% and fears that could be higher. (CNBC)

Warren Buffett's Berkshire Hathaway made a few changes to its equity portfolio in the first quarter, including adding a big stake in Citigroup, according to a regulatory filing. Berkshire also added Paramount Global. Shares of Citigroup and Paramount soared 5% and nearly 10% in the premarket, respectively. The conglomerate exited Wells Fargo. (CNBC Pro)

STOCKS TO WATCH

United Airlines rose 4% in Tuesday's premarket, the morning after raising its current quarter revenue forecast, expecting its busiest summer since before the Covid pandemic began.

Take-Two Interactive (TTWO) jumped 4.9% in the premarket despite a quarterly miss in its key bookings metric as well as weaker-than-expected guidance. Analysts have pointed to a history of conservative guidance from the video game maker, and are also expecting a more upbeat outlook once its pending acquisition of Zynga (ZNGA) closes.

JD.com (JD) surged 9% after beating top-line and bottom-line estimates for its latest quarter, as the China-based e-commerce giant saw increased demand amid new Covid-related lockdowns. JD.com is also among tech stocks benefiting from hopes for relaxed regulatory curbs on tech companies, along with Pinduoduo (PDD), up 8.6%, and Baidu (BIDU), gaining 4.1%.

Tencent Music Entertainment (TME) jumped 6.5% in premarket trading, despite a 15% slide in quarterly revenue. Tencent Music shares are also benefiting from those hopes for looser regulatory curbs.

Lordstown Motors (RIDE) CFO Adam Kroll said doubts about the electric vehicle maker's ability to stay in business will remain in place until it secures more funding. Lordstown originally issued a "going concern" warning in June 2021. The stock fell 1.8% in premarket trading.

Adblock test (Why?)



"stock" - Google News
May 17, 2022 at 08:00PM
https://ift.tt/gW8j3e2

What to watch today: Stock futures jump as two Dow stocks move in opposite directions - CNBC
"stock" - Google News
https://ift.tt/rE6hqU5
https://ift.tt/t7WgwuE

Bagikan Berita Ini

0 Response to "What to watch today: Stock futures jump as two Dow stocks move in opposite directions - CNBC"

Post a Comment


Powered by Blogger.