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Today's Pre-Market Movers & News [Monday, February 10th, 2020]

Discussion in 'Pre-Market Movers & News' started by bigbear0083, Feb 10, 2020.

  1. bigbear0083

    bigbear0083 Content Manager
    Staff Member

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    Today's Pre-Market Movers & News [Monday, February 10th, 2020]

    Good Day Stockaholics! Happy Monday! ;)

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    Today's Top Headlines for Monday, February 10th, 2020
    • With coronavirus concerns still very much in the mix, U.S. stock futures point to more losses for Wall Street following a Friday sell-off. The major averages all had their best weekly gains in months despite that Friday drop, but the trend is clearly negative as we head into the new week. The Nasdaq’s weekly gain last week was its largest since November 2018, even after a 0.5% fall on Friday. Tech has been February’s strongest sector so far, and the Consumer Staples sector finished last week at a record high. (CNBC)
    • The Trump administration will release its fiscal 2021 budget today, which will show the economy growing at an average rate of 3% for the next 15 years. It’s also proposing to continue tax cuts for individuals through 2035 at a cost of $1.4 trillion, a figure that serves as a rough placeholder for President Donald Trump’s promised “Tax Cuts 2.0.” (CNBC)
    • Treasury yields move higher ahead of Trump’s 2021 budget (CNBC)
    • No economic releases are on today’s calendar. Two Fed officials have public speaking engagements today, with Fed Governor Michelle Bowman making a morning appearance in Florida and Philadelphia Fed President Patrick Harker speaking this afternoon in Delaware. (CNBC)
    • Allergan (AGN), Edgewell Personal Care (EPC), and Restaurant Brands International (QSR) are among the companies set to release quarterly earnings this morning. Callaway Golf (ELY) and XPO Logistics (XPO) issue numbers after the closing bell.
    • Tesla (TSLA) shares were up 9% in the premarket this morning after a tumultuous week, which saw the stock move more than $100 per share in either direction in three of five sessions. Tesla posted 10 consecutive weekly gains and have risen 127% over that span. (CNBC)
    • China’s National Health Commission said it confirmed 3,062 new coronavirus cases and 97 additional deaths, mostly in Hubei province. The government said a total of 40,171 cases have been confirmed and 908 people have died in the country. The U.K. has confirmed four further cases of the coronavirus, bringing the total number of cases in the country to eight. (CNBC)
    • Factories in China remain shuttered as some regions extend shutdowns (CNBC)
    • As virus deaths top SARS, survivor tells of treatment (WSJ)
    • Sen. Bernie Sanders remains at the top of the Democratic field in a new NBC News/Marist poll of tomorrow’s New Hampshire primary. Sanders gets 25% of likely Democratic primary voters in the poll, while former Mayor Pete Buttigieg receives support from 21%. Former Vice President Joe Biden, who had a dismal showing in the Iowa caucuses, comes in at 13%. (CNBC)
    • Biden predicts he will ‘take a hit’ in New Hampshire primary after ‘gut punch’ in Iowa (CNBC)
    • Mike Bloomberg is the only Democrat to top Trump in Gallup poll of small business owners (CNBC)
    • The Iowa Democratic Party allocated delegates based on the results of last week’s Iowa caucuses, giving Buttigieg the largest delegate count, followed closely by Sanders, though many news outlets remained unable to declare a winner. Sanders’ campaign plans to ask for a “partial recanvass” of the results of last week’s Iowa caucuses. (NBC News & AP)
    • Sen. Josh Hawley is proposing putting the Federal Trade Commission, an independent agency, within the Department of Justice, which is part of the executive branch. The proposal is likely to raise alarms about removing the independence of a key regulatory body, especially as Democrats have speculated about Attorney General William Barr’s closeness to Trump. (CNBC)
    • Annegret Kramp-Karrenbauer, the leader of Germany’s Christian Democratic Union and the expected successor of Angela Merkel, will not run for chancellor. She will also give up the leadership of the CDU in the summer, according to an unnamed source cited by Reuters, setting in motion a party leadership contest. (CNBC)
    • L Brands (LB) is nearing a deal to sell its Victoria’s Secret brand to private equity firm Sycamore Partners in a deal that could be announced as soon this week. It’s not clear what role L Brands CEO Les Wexner would have in such a deal, as he’s under mounting pressure due to his ties to the late sex criminal Jeffrey Epstein. (CNBC)
    • The federally appointed oversight board in charge of Puerto Rico’s ongoing record debt restructuring saga announced they have come to terms with bondholders of around $35 billion, which accounts for nearly 50% of the bankrupt island’s total debt load. The deal will cut the Commonwealth’s outstanding bond debt from $35 billion to approximately $11 billion. (CNBC)

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    STOCK FUTURES CURRENTLY:
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    LAST WEEKS' MARKET MAP:
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    LAST WEEK'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:
    ($BABA $ROKU $SHOP $NVDA $CVS $CGC $CSCO $UAA $QSR $L $AGN $HAS $LYFT $TEVA $AMAT $MCY $SAFE $GBDC $GOLD $PEP $DO $KHC $D $CYBR $MELI $CHGG $CNA $EXAS $GT $HLT $AYX $AN $APPS $WM $GPN $CRNT $BIP $YETI $MPAA $LSCC $RNG $NMM $JE)
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    THIS WEEK'S UPCOMING IPO'S:
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    THIS MORNING'S PRE-MARKET EARNINGS RELEASES:
    ($QSR $L $MCY $GBDC $DO $CNA $BIP $CRNT $JE $IVC $EPC $GFN $NMM $MPAA $AVYA)
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    THIS AFTERNOON'S POST-MARKET EARNINGS RELEASES:
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    T.B.A.

    EARNINGS RELEASES BEFORE TODAY'S MARKET OPEN:
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    EARNINGS RELEASES AFTER TODAY'S MARKET CLOSE:
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    FRIDAY'S ANALYST UPGRADES/DOWNGRADES:
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    FRIDAY'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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    • Allergan (AGN) – The drugmaker reported quarterly earnings of $5.22 per share, compared to estimates of $4.57 a share. Revenue also beat Wall Street forecasts, helped by better-than-expected specialized therapeutics and general medicine sales.
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    • Edgewell Personal Care (EPC) – The maker of Schick razors reported quarterly profit of 55 cents per share, well above the consensus estimate of 29 cents a share. Revenue exceeded estimates as well, and its full-year outlook is also mostly above Street forecasts. Separately, Edgewell ended its agreement to buy razor maker Harry’s, after the Federal Trade Commission moved to block the deal.
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    • Restaurant Brands (QSR) – The restaurant operator reported quarterly profit of 75 cents per share, 2 cents a share above estimates. Revenue also came in above forecasts. Comparable sales were shy of expectations at Tim Hortons and Burger King, but well above forecasts at Popeyes. The company said systemwide sales at the Popeyes chain jumped 42%, thanks in large part to its popular spicy chicken sandwich.
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    • Eli Lilly (LLY) – Lilly and partner Genentech said their experimental therapy for a rare form of Alzheimer’s disease missed its primary goal in a study.
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    • Mattel (MAT) – Mattel is shutting two factories in Asia and will close another in Canada, as it seeks to cut costs. The toy maker has been seeking to streamline its manufacturing and supply chain.
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    • Tesla (TSLA) – Tesla remains on watch after a tumultuous week which saw in move more than $100 per share in either direction in three of five sessions. Tesla shares have posted 10 consecutive weekly gains and have risen 127% over that span.
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    • Apple (AAPL) – Apple may postpone the launch of a cheaper iPhone due to the coronavirus, according to published reports in China.
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    • Yum China (YUMC) – A Yum China employee in Northwest China responsible for food preparation was confirmed to have the coronavirus, according to the Global Times.
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    • Willis Towers Watson (WLTW) – The stock was downgraded to “neutral” from “outperform” at Credit Suisse in a valuation call. The consulting firm had reported better than expected quarterly earnings last week, but the stock tumbled amid a 2020 earnings forecast that fell partially below consensus.
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    • FedEx (FDX) – FedEx was upgraded to “buy” from “neutral” at UBS, which thinks consensus expectations are low for the company and that profit margins at FedEx’s Express service will expand.
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    • World Wrestling (WWE) – World Wrestling was downgraded to “underweight” from “overweight” at Wells Fargo Securities, with the price target slashed to $36 per share from $80 a share. Wells Fargo said there have been “too many misfires,” and that the company needs a new CFO and to issue long-term guidance.
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    • Nvidia (NVDA) – RBC Capital increased its price target for the graphics chip maker’s stock to $301 per share from $251, saying the quarter ending January 31 is likely to come in above the high end of the company’s guidance due to strong gaming and data center markets.
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    Have a great trading day ahead to everyone in here on this Monday! ;)
     
    Three Eyes likes this.

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