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Today's Pre-Market Movers & News [Thursday, April 9th, 2020]

Discussion in 'Pre-Market Movers & News' started by bigbear0083, Apr 9, 2020.

  1. bigbear0083

    bigbear0083 Content Manager
    Staff Member

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    Today's Pre-Market Movers & News [Thursday, April 9th, 2020]

    Good Day Stockaholics! Happy Thursday! ;)

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    Today's Top Headlines for Thursday, April 9th, 2020
    • Dow futures were pointing to about a 200-point drop at Thursday’s open ahead of what is expected to be another extraordinary number of Americans filing for unemployment benefits. Later in the morning, Federal Reserve Chairman Jerome Powell talks at a Brookings Institution webinar about the central bank’s coronavirus intervention measures. The stock market is closed Friday in observance of Good Friday. On Wednesday, the Dow Jones Industrial Average gained nearly 780 points, or 3.4%, after Sen. Bernie Sanders dropped out of the Democratic presidential nomination race. It relieved some of Wall Street’s political concerns as daily increases in U.S. and global coronavirus cases have slowed since last Friday. The Dow, as of Wednesday’s close, was still more than 20% off its record high in February. Depressed oil prices were getting a pop early Thursday on expectations that OPEC and its allies would agree to a production cut at a meeting later in the day.
    • Another 5.25 million workers are expected to have filed for first-time jobless claims last week, reflecting a larger swath of the country now under state stay-at-home orders. Together with the claims filed in the past two weeks, the total could now surpass 15 million. But that number is still probably millions shy of the number of workers who may have already lost their jobs as the economy abruptly shut down due to the coronavirus crisis. The unemployment claims report for last week is issued at 8:30 a.m. ET. It’s all but certain to be the third in a row showing millions of Americans filing claims for the first time. In the last two reports, a total 10 million workers had filed for state unemployment benefits.
    • Billionaire philanthropist Bill Gates told CNBC he thinks schools will be able to resume in the fall but the U.S. economy won’t magically return to the way it was before. The Bill and Melinda Gates Foundation, which has committed up to $100 million to respond to the coronavirus, has been working on global health issues and vaccines for years. Gates, a backer of an at-home coronavirus test, has said he would help pay for factories that can produce vaccines. During the interview, which aired Thursday on “Squawk Box,” the Microsoft co-founder suggested that therapeutic treatments for sick people could begin to roll out in four to six months, but it would take at least 18 months to develop a safe and effective vaccine to prevent the virus.
    • Global coronavirus cases increased to nearly 1.5 million with 88,981 deaths and over 300,000 recoveries, according to data from Johns Hopkins University. The U.S. remains the world’s worst hot spot with more than 432,400 cases. That’s more than the combined infections of Spain, Italy and Germany. Italy still has the most deaths: 17,669. Spain said its deaths surpassed 15,000. Fatalities in the U.S. rose to 14,808. New York state’s over 151,000 cases and 6,269 deaths are the most in the U.S. Democratic New York Gov. Andrew Cuomo said at Wednesday’s news conference the outbreak could “stabilize” within weeks if the state maintains its strict social distancing policies.
    • Disney shares were surging over 5% in Thursday’s premarket trading after the media and theme park giant announced that its new video streaming service Disney+ now has over 50 million paid subscribers. That’s almost double what Disney reported in its first-quarter earnings in February. Disney+, which launched five months ago, was doing well even before of the coronavirus pandemic, which is keeping people stuck at home and spending more time online. Disney+ rolled out in the U.K, Ireland, France, Germany, Italy, Spain, Austria and Switzerland in the past two weeks. By comparison, it took Netflix seven years from its 2007 streaming launch to reach 50 million subscribers.

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    STOCK FUTURES CURRENTLY:
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    YESTERDAY'S MARKET MAP:
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    YESTERDAY'S S&P SECTORS:
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    TODAY'S ECONOMIC CALENDAR:
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    NEXT WEEK'S ECONOMIC CALENDAR:

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    MOST ACTIVE TRENDING TICKERS (STOCK SYMBOLS ARE CLICKABLE!):


    NEXT WEEK'S EARNINGS CALENDAR:
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    NEXT WEEK'S UPCOMING IPO'S:
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    THIS MORNING'S PRE-MARKET EARNINGS CALENDAR:
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    NONE.

    BEFORE TODAY'S MARKET OPEN EARNINGS RELEASES:
    NONE.

    YESTERDAY'S ANALYST UPGRADES/DOWNGRADES:
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    YESTERDAY'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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    • Starbucks (SBUX) – Starbucks said its fiscal second-quarter profit would likely drop by 47% due to the coronavirus impact, and that it was abandoning its full-year forecast. The coffee chain is also suspending its share buyback program, although it will continue to pay its dividend.
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    • Costco (COST) – Costco reported a 9.6% jump in March same-store sales, thanks in large part to virus-related stockpiling.
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    • Walt Disney (DIS) – Walt Disney said subscribership numbers for its Disney+ streaming service have now surpassed 50 million globally. The jump has been driven by global stay-at-home orders, as well as the introduction of the service in India where 8 million people have signed up.
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    • Anthem (ANTM) – The health insurer’s stock was downgraded to “hold” from “buy” at Jefferies, which said a virus-induced recession will push more managed care organization members into the lower margin Medicaid category.
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    • Visa (V), Mastercard (MA) – The payment networks have both had swipe fee increases in the works for months, according to The Wall Street Journal. The increases were planned before the COVID-19 pandemic, and the paper said it is unclear whether the fee hikes will be rolled out if the pandemic persists.
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    • Diageo (DEO) – The spirits maker pulled its 2020 sales and profit forecast, and also suspended its $5.6 billion stock buyback program. However, the company did say it would pay its April dividend as planned.
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    • United Parcel Service (UPS) – The delivery service was downgraded to “neutral” from “buy” at UBS, citing a drop in business-to-business volume and an overall reduction in earnings.
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    • Big Lots (BIG) – The discount retailer was upgraded to “neutral” from “sell” at JPMorgan Chase, both on a valuation basis and on the easing of liquidity concerns.
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    • Zoom Video (ZM) - The U.S. Senate has told members not to use Zoom’s conferencing app due to security concerns, according to the Financial Times. That follows Google’s move Wednesday to ban employees from using Zoom on their laptops.
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    • UBS (UBS), Credit Suisse (CS) – The Swiss banks will postpone part of their 2019 dividends, bowing to pressure from European regulators. The banks were the last two major banks to make such a move, arguing that their financial positions were strong enough to support dividend payouts.
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    • BlackRock (BLK) – BlackRock will not lay off any workers this year because of the coronavirus outbreak, according to CEO Larry Fink. He also said the world’s largest asset manager will give full-time pay to support staff even if they cannot come to work.
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    • Nautilus (NLS) – Nautilus is forecasting higher first-quarter sales, as stay-at-home orders boost demand for its exercise equipment.
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    • Progressive (PGR) – Progressive is the latest auto insurer to announce refunds to customers due to a significant drop in driving. Progressive will be refunding about $1 billion, in the form of credits to April and May premiums. Allstate (ALL) and Berkshire Hathaway’s (BRKB) Geico unit had been among those previously announcing such moves.
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    • Stitch Fix (SFIX) – Stitch Fix pulled its 2020 guidance due to increasing uncertainty surrounding the coronavirus impact. CEO Katrina Lake said the online styling service had anticipated the impact on its business, but not the extent to which its distribution centers would be disrupted.
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    Have a happy trading day to everyone in here on this Thursday! ;)
     

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