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(10/2) - Tuesday's Pre-Market Stock Movers & News

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  1. bigbear0083

    bigbear0083 Content Manager
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    (10/2) - Tuesday's Stock Movers & News

    Good Day Stockaholics! Happy Tuesday! ;)

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    Frontrunning: October 2nd
    • The full Senate will vote on Supreme Court nominee Brett Kavanaugh's confirmation "this week," according to Senate Majority Leader Mitch McConnell. Republicans are moving quickly to confirm the judge before November's midterm elections. (CNBC)
    • White House agrees to expand Kavanaugh probe slightly(Washington Post)
    • A pro-Trump organization decided to continue backing Kavanaugh's nomination, despite a background investigation by the FBI. America First is spending $300,000 to keep the ad running nationwide on Fox News Channel for the next four days. (CNBC)
    • President Donald Trump took a victory lap Monday after the announcement of a new North American trade deal, heralding the pact as "an extraordinary agreement" and "a new dawn" for the American auto industry. (CNBC)
    • Trump's trade victories mean the White House can now 'focus all its ire on China' (CNBC)
    • Officials said the death toll from the earthquake and tsunami on Indonesia's Sulawesi island surpassed 1,200, as fears grow that many more are dead. Getting aid to affected areas is another challenge after the disaster. (WSJ)
    • Long-dormant proposals to allow the United States to sue OPEC nations are getting a fresh look in Congress. One bill in particular would change U.S. antitrust law to allow OPEC producers to be sued for collusion. (Reuters)
    • A record number of people registered to vote in the midterm elections on National Voter Registration Day last week, according to Time. The registrations surpassed the previous record set during the 2016 presidential campaign.
    • U.S. aerospace and industrial company United Technologies (UTX) received approval by regulators for its deal to buy aviation systems maker Rockwell Collins (COL), with the condition that it must sell two of Rockwell's businesses. (Reuters)
    • Amazon (AMZN) is raising its minimum wage to $15 for all U.S. employees, effective next month. The new minimum wage will benefit more than 250,000 Amazon employees, including part-time and temporary employees. (CNBC)
    • Alphabet's (GOOGL) Google unit lost a key executive, with Sridhar Ramaswamy stepping down. Ramaswamy has been head of Google's online ad business for the past five years, but is departing to join venture capital firm Greylock Partners. (CNBC)
    • Tesla (TSLA) plans a "family night" screening of Pixar's "Cars 3" at its sprawling battery plant in Sparks, Nevada, this weekend. It's a gesture to thank employees and their loved ones for all their long hours and hard work. (CNBC)

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    STOCK FUTURES NOW:
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    YESTERDAY'S MARKET HEAT MAP:
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    YESTERDAY'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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    MOST ACTIVE TRENDING DISCUSSIONS (STOCK SYMBOLS ARE CLICKABLE!):


    THIS WEEK'S EARNINGS CALENDAR:
    ($COST $SFIX $PEP $STZ $SGH $PAYX $LEN $CALM $AYI $LW $SNX $RPM $PIR $ISCA $NG $LNDC $RECN)
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    THIS WEEK'S UPCOMING IPO'S:
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    THIS MORNING'S PRE-MARKET EARNINGS RELEASES:
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    THIS AFTERNOON'S AFTER-MARKET EARNINGS RELEASES:
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    BEFORE TODAY'S MARKET OPEN:
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    AFTER TODAY'S MARKET CLOSE:
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    THIS MORNING'S ANALYST UPGRADES/DOWNGRADES:
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    THIS MORNING'S INSIDER TRADING FILINGS:
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    TODAY'S DIVIDEND CALENDAR:
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    THIS MORNING'S PRE-MARKET STOCK NEWS MOVERS:

    source: cnbc.com

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    • PepsiCo – PepsiCo reported adjusted quarterly profit of $1.59 per share, two cents above estimates, with the beverage and snack giant's revenue also beating forecasts. Organic revenue was up 4.9 percent from a year earlier, and the company increased its full year organic revenue growth target. PepsiCo did cut its full year earnings outlook to $5.65 from $5.70, due to the impact of a stronger dollar, compared to the current consensus estimate of $5.69.
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    • Stitch Fix – Stitch Fix reported quarterly profit of 18 cents per share, beating the consensus estimate of four cents. However, the subscription fashion service saw revenue fall short of estimates, with the number of active customers also shy of Street forecasts.
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    • Chevron – The energy producer was added to the "Conviction Buy" list at Goldman Sachs, which notes underperformance by Chevron even as oil prices were rising, and also thinks the risks that bearish investors are associating with the stock are overstated.
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    • Eli Lilly – The drug maker said its experimental diabetes treatment – known as Ultra Rapid Lispro – met its primary goal in two late stage studies.
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    • United Technologies – United Technologies received approval by US regulators for its deal to buy aviation systems maker Rockwell Collins, with the condition that it must sell two of Rockwell's businesses.
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    • Thomson Reuters – Thomson Reuters closed its deal to sell a 55 percent stake in its Financial & Risk unit to private equity firm Blackstone. The unit is a provider of data and news to financial customers, with the deal valuing the business at about $20 billion.
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    • KKR – KKR and fellow private equity firm Bain Capital are starting a $20 million fund to pay former employees of Toys R Us who were left unemployed when the toy retailer went out of business, according to the Wall Street Journal. The two firms – who jointly own the bankrupt company – are not required by bankruptcy law to do so.
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    • Alphabet – Alphabet's Google unit lost a key executive, with Sridhar Ramaswamy stepping down. Ramaswamy has been head of Google's online ad business for the past five years, but is departing to join venture capital firm Greylock Partners.
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    • General Electric – GE was upgraded to "outperform" from "sector perform" at RBC Capital, which cites the hiring of Larry Culp as the new chairman and CEO, with the price target increased to $15 per share from $13. However, widely follows J.P. Morgan Securities analyst Stephen Tusa said the move is no reason to celebrate and may indicate "serious issues at play". Tusa, who will be a guest on CNBC's Halftime Report today, reiterated his "underweight" rating for GE and his $10 per share price target.
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    • WW – The company formerly known as Weight Watchers was added to the America's Analyst Focus list at J.P. Morgan Securities. The firm said the 30 percent pullback from a late June peak represents a compelling entry point, and that the negative reaction to the latest earnings report for the company was overblown. Separately, the company will switch its stock listing to Nasdaq from the NYSE on October 15.
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    • Papa John's - Activist investor Legion Partners and the California State Teachers' Retirement System hold a combined 5.5 percent stake in Papa John's, according to an SEC filing. The two funds have met with board members, and Legion managing director Ted White told the Wall Street Journal that they support steps the pizza chain has taken to boost sales.
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    • Skechers – The shoe company's stock was downgraded to "neutral" from "buy" at Citi, which is concerned about domestic sales growth as well as increased expenses.
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    Have a great trading day ahead to everyone in here on this Tuesday! ;)
     

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