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Today's Pre-Market News [Friday, February 21st, 2020]

Discussion in 'Pre-Market Movers & News' started by bigbear0083, Feb 21, 2020.

  1. bigbear0083

    bigbear0083 Content Manager
    Staff Member

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    Today's Pre-Market Movers & News [Friday, February 21st, 2020]

    Good Day Stockaholics! Happy Friday! ;)

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    Today's Top Headlines for Friday, February 21st, 2020
    • Futures were pointing to a lower open on Wall Street, pushing the Dow and S&P 500 further into negative territory for the week and making it all but certain that the Nasdaq would lose what’s left of its small weekly gain. The moves would be their first weekly losses in an otherwise stronger February. (CNBC)
    • Dow component Coca-Cola (KO) said Friday that negative impact from the coronavirus will shave 1 to 2 cents off first-quarter per-share earnings. Meanwhile, There are more than 76,000 cases worldwide and 2,249 deaths. The vast majority of cases and deaths are in China. (CNBC)
    • St. Louis Fed President James Bullard told CNBC on Friday that he expects the coronavirus to be a short-term problem and likely won’t cause central bankers to want to cut interest rates. “There’s a high probability that the coronavirus will blow over as other viruses have, be a temporary shock and everything will come back,” Bullard said.
    • On the economy and earnings, the National Association of Realtors issues January existing home sales. Deere & Co. (DE) leads this morning’s profit reports. Warren Buffett’s Berkshire Hathaway (BRK.A) is set for a weekend release of its latest quarterly results. (CNBC)
    • Buffett also releases his annual letter to Berkshire shareholders on Saturday. As CNBC’s Tom Franck reports, the Buffett faithful are especially interested this year to know whether Berkshire finally found the elusive “elephant-sized” acquisition. Buffett joins “Squawk Box” on Monday for three hours, starting at 6 a.m. ET.
    • Shares of Dropbox (DBX) were gaining about 11% in the premarket after the online storage company beat estimates with quarterly earnings and revenue. Dropbox also raised its profit margin outlook and announced a $600 million share buyback program. (CNBC)
    • One day after Mike Bloomberg’s debacle at the Democratic presidential debate in Las Vegas and one day before Saturday’s Nevada caucuses, a New York Times analysis shows the former New York City mayor spent nearly double than fellow self-funding billionaire Tom Steyer and more than Bernie Sanders, Elizabeth Warren, Pete Buttigieg and Joe Biden combined.
    • Warren reverses her position on super PAC support as she seeks comeback (CNBC)
    • President Donald Trump pushed aside his acting director of national intelligence, Joseph Maguire, because he was angry that lawmakers were briefed about Russia’s plan to interfere in the 2020 election to help Trump, a former intelligence official briefed on the matter told NBC News.
    • Trump bashes Brad Pitt, Joe Biden and polls during Colorado rally, goes to Vegas today (USA Today)
    • Wells Fargo (WFC) is nearing a settlement with the U.S. Securities and Exchange Commission and the Justice Department (DOJ) over previously disclosed probes into its sales practices, the New York Times reported.
    • Alphabet’s (GOOGL) Google is resisting efforts to surrender emails, text messages and other documents sought by state investigators probing possible anticompetitive practices, according to records and interviews reported on by The Wall Street Journal.
    • Sears has reportedly reached a deal for a fresh financial lifeline totaling roughly $100 million from hedge fund Brigade Capital Management, as it tries to stabilize after bankruptcy. (Reuters)
    • T-Mobile US (TMUS) and Sprint (S) announced amended terms of their merger which will reduce the stake of Sprint shareholder SoftBank, while T-Mobile parent Deutsche Telekom will have a slightly higher stake. (CNBC)
    • Tesla (TSLA), whose shares have been surging lately, has been given the go-ahead from a German court to cut down trees for its new European factory. However, the electric auto maker doesn’t yet have planning permission to build the so-called Gigafactory in Brandenburg. (CNBC)
    • HP (HPQ) adopted a “poison pill” to help fend off Xerox’s (XRX) attempt to buy the computer and printer maker. The poison pill gives shareholders the right to buy more shares at a discount if any one entity acquires 20% of outstanding shares, diluting the group’s stake. (Reuters)
    • Plans by the U.S. to create a 5G rival to Huawei could be a “challenge,” one of the Chinese firm’s top executives told CNBC, as calls grow from American lawmakers to find alternatives for its next-generation networks. (CNBC)

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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:
    ($DE $RY $WPC $ITT $RUTH $HMSY $DSX $TECK $CNK $VAL $B $MGA $PPC $HSC $CFX $ERF $BCPC $ZEUS $ASIX $CMLS $VNTR $PNW $GASS $CNNE $VNRX)
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    BEFORE TODAY'S 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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    • Deere (DE) – The heavy equipment maker reported quarterly earnings of $1.63 per share, beating the consensus estimate of $1.25 a share. Revenue also exceeded forecasts. Deere said it sees signs of stabilization in the U.S. farm sector, and that the relaxation of trade tensions is improving farmer confidence.
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    • Coca-Cola (KO) – The beverage giant said the coronavirus outbreak would cut its current-quarter earnings by a penny to 2 cents per share, but adds that it still expects to achieve its prior full-year earnings targets.
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    • T-Mobile US (TMUS), Sprint (S) – The mobile operators announced amended terms of their merger which will reduce the stake of Sprint shareholder SoftBank, while T-Mobile parent Deutsche Telekom will have a slightly higher stake.
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    • Chewy (CHWY) – The pet products seller was upgraded to “outperform” from “sector perform” at RBC Capital, on what the firm calls a “highly favorable” risk-reward outlook. RBC said Chewy has strong sustainable fundamentals, including upbeat revenue growth and expanding profit margins.
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    • First Solar (FSLR) – First Solar earned an adjusted $2.02 per share for the fourth quarter, short of the $2.72 per share profit that Wall Street analysts had anticipated. The solar power company’s revenue also came in below estimates and First Solar gave weaker-than-expected revenue guidance.
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    • Wells Fargo (WFC) – The bank is close to settlements with the Securities and Exchange Commission and the Department of Justice over probes into its sales practices, according to The New York Times. The paper said the settlements could be announced as soon as today.
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    • HP Inc. (HPQ) – HP adopted a so-called “poison pill” to help fend off Xerox’s (XRX) attempt to buy the computer and printer maker. The poison pill gives shareholders the right to buy more shares at a discount if any one entity acquires 20% of outstanding shares, diluting the group’s stake.
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    • Fitbit (FIT) – Fitbit posted an unexpected loss of an adjusted 12 cents per share, compared to predictions of a 3 cents per share profit. The maker of wearable fitness devices also saw its revenue come in below forecasts, as it sold more devices but at lower prices.
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    • Texas Roadhouse (TXRH) – Texas Roadhouse beat estimates by 9 cents a share, with quarterly earnings of 61 cents per share. The restaurant chain’s revenue beat forecasts as well with same-restaurant sales up 4.4%. Texas Roadhouse also announced a 20% dividend increase.
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    • Sprouts Farmers Market (SFM) – Sprouts earned 27 cents per share for the fourth quarter, nearly doubling the 14 cents a share consensus estimates. The organic grocery chain’s revenue was slightly above forecasts, and the company gave a better-than-expected full-year earnings outlook.
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    • Pilgrim’s Pride (PPC) – Pilgrim’s Pride fell 10 cents a share short of estimates, with quarterly profit of 14 cents a share. The poultry producer’s revenue came in above Wall Street forecasts. Pilgrim’s Pride said it saw difficult market conditions in some key markets, most notably Mexico.
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    Have a happy trading day to everyone in here on this Friday! ;)
     
    Three Eyes likes this.

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