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Today's Pre-Market Movers & News [Wednesday, January 13th, 2021]

Discussion in 'Pre-Market Movers & News' started by bigbear0083, Jan 13, 2021.

  1. bigbear0083

    bigbear0083 Content Manager
    Staff Member

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    Today's Pre-Market Movers & News [Wednesday, January 13th, 2021]

    Good Day Stockaholics! Happy Wednesday! ;)

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    Today's Top Headlines for Wednesday, January 13th, 2021

    5 things to know before the stock market opens Wednesday

    1. Stocks set for modest drop
    U.S. stock futures fell Wednesday, a day after Wall Street resumed its 2021 upswing with modest gains. The fallout from last week’s Capitol riot and the push to impeach President Donald Trump have been keeping a lid on market moves this week. Rising rates in the bond market, with the 10-year Treasury yield over 1.1%, have also been a headwind for stocks. However, ahead of Wednesday’s trading, the Dow Jones Industrial Average and S&P 500 were less than 1% away from their records. The Nasdaq was just over 1% away from its record high.

    Target said Wednesday comparable sales rose 17.2% in November and December. While online sales remained robust during the pandemic, shoppers also visited Target’s stores and spent more money per purchase than they did last holiday season. Target’s same-day curbside pickup grew by more than 500%, while sales fulfilled by its Shipt delivery service grew more than 300% during the holidays. Target shares were relatively flat in premarket trading.

    2. House to impeach Trump
    Trump is on the verge of being impeached for a second time. The House set the unprecedented vote for Wednesday, exactly one week after supporters of the outgoing president attacked the U.S. Capitol. While no House Republicans voted for Trump’s first impeachment, this time a small but significant number, including third-ranking GOP Rep. Liz Cheney, will join Democrats.

    Senate Majority Leader Mitch McConnell has reportedly told associates he thinks Trump committed impeachable acts, though it’s not known if the Kentucky Republican would vote to remove the president. A conviction in the Senate, even after Trump leaves office, would prevent him from becoming president again. It’s unclear if the Senate would try to hold Trump’s impeachment trial before President-elect Joe Biden’s inauguration next Wednesday.

    3. Pence rules out 25th Amendment
    The House is moving ahead with its impeachment vote after Vice President Mike Pence ruled out invoking the 25th Amendment to remove Trump. The House on Tuesday night passed a resolution calling on Pence and the Cabinet to push Trump out of office over his role in fomenting the Capitol attack. In a letter to House Speak Nancy Pelosi, Pence wrote, “I do not believe that such a course of action is in the best interest of our Nation or consistent with our Constitution.”

    Speaking publicly Tuesday for the first time since last week’s siege, Trump did not take any responsibility for the mob violence and warned a second impeachment could be dangerous for the country. Later in the day at the border wall in Texas, Trump made a vague threat against Biden while insisting Pence and his Cabinet won’t remove him from office.

    4. YouTube suspends Trump account
    YouTube on Tuesday suspended Trump’s account, saying the president uploaded content that violated its policies, though it did not specify any videos. The so-called strike-one on the platform prevents new uploads for a minimum seven days. “Given the ongoing concerns about violence, we will also be indefinitely disabling comments on President Trump’s channel,” said YouTube, owned by Alphabet’s Google unit. YouTube’s decision to freeze Trump’s account follows the indefinite suspension of the president’s Facebook and the permanent suspension of his Twitter.

    5. Operation Warp Speed chief resigns
    Operation Warp Speed Chief Adviser Dr. Moncef Slaoui has submitted his resignation at the request of the incoming Biden Covid team, under a plan that would see him stay in the role for a month to help with the transition, according to two people familiar with the situation. Though the initial vaccine rollout has been criticized, the speed of their development, which Slaoui oversaw, exceeded expectations, with two vaccines from Pfizer and Moderna approved for emergency use in the U.S. by the FDA.

    The U.S. will soon require all airline passengers to prove they recently tested negative for Covid-19 before flying to the country, the CDC said Tuesday. The measure, which aims to curb the spread of the disease, comes as new infections hit records. The U.S. reported a record 4,327 daily Covid deaths Tuesday. Starting Jan. 26, arriving American citizens and foreign travelers will have to test negative for Covid-19 within three days of their flight to the U.S.

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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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    THIS WEEK'S ECONOMIC CALENDAR:

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


    THIS WEEK'S EARNINGS CALENDAR:
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    THIS WEEK'S UPCOMING IPO'S:
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    THIS MORNING'S PRE-MARKET EARNINGS CALENDAR:
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    BEFORE TODAY'S MARKET OPEN EARNINGS RELEASES:
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    AFTER MARKET OPEN EARNINGS RELEASES:
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    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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    • Urban Outfitters (URBN) – Urban Outfitters shares are under pressure after the apparel retailer said comparable holiday season sales fell 9%, and also announced the departure of Trish Donnelly as CEO of the Urban Outfitters Group unit. Sheila Harrington, CEO of the company’s Free People Group division, will now also be in charge of the Urban Outfitters Group. The stock fell 10% in premarket trading as of 7:36 a.m. ET.
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    • Target (TGT) – The retailer said its holiday season comparable sales rose 17.2%, with comparable in-store sales up 4.2% and digital sales more than doubling. The average customer ticket was up 12.3% from a year earlier. The shares rose 1% in premarket trading as of 7:36 a.m. ET.
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    • Visa (V) – Visa and fintech company Plaid called off their planned $5.3 million merger. The Justice Department sued in November to stop the deal on antitrust grounds, and Visa CEO Al Kelly said the litigation would have taken substantial time to fully resolve.
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    • Twitter (TWTR) – Twitter was upgraded to “buy” from “neutral” at MKM Partners, which said Twitter is poised to leave negative sentiment stemming from the pandemic and its actions surrounding President Donald Trump behind. The shares rose 1% in premarket trading as of 7:36 a.m. ET.
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    • KB Home (KBH) – KB Home reported quarterly earnings of $1.12 per share, beating the consensus estimate of 93 cents a share. The home builders’ revenue also topped Wall Street forecasts. The company said housing market conditions continue to be “robust,” and expects meaningfully higher revenue and earnings this year. The shares added 4.8% in premarket trading as of 7:36 a.m. ET.
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    • Regeneron Pharmaceuticals (REGN) – The U.S. government will buy 1.25 million additional doses of Regeneron’s Covid-19 antibody cocktail for about $2.63 billion. The doses will be delivered in the first half of the year and used to treat high-risk, non-hospitalized Covid patients. The shares gained 2.7% in premarket trading as of 7:36 a.m. ET.
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    • Ford (F) – Ford reported a 6% increase in China car sales in 2020 compared to a year earlier, its first annual increase in China since 2017.
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    • Walt Disney (DIS) – The company’s Disney+ service commanded 6% of consumer video streaming time in December, according to new data from Nielsen. Netflix dominated with 28% of streaming time, but that was down from 31% in December 2019.
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    • American Tower (AMT) – The cellular tower company bought the European and Latin American telecom tower businesses of Spain’s Telefonica for $9.4 billion in cash.
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    • Nio (NIO) – Nio priced its offering of $1.3 billion in convertible notes. The China-based electric vehicle maker plans to use the proceeds for general corporate purposes and to strengthen its balance sheet.
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    • Bausch Health (BHC) – The health-care products maker said its fourth-quarter and full-year 2020 sales would exceed its prior guidance. The preliminary data come ahead of today’s presentation by Bausch at the J.P. Morgan Healthcare Conference.
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    • Ally Financial (ALLY) – The financial services company announced a new $1.6 billion share repurchase program.
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    Have a happy trading day to everyone in here on this Wednesday! ;)
     

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