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Today's Pre-Market News [Wednesday, February 12th, 2020]

Discussion in 'Pre-Market Movers & News' started by bigbear0083, Feb 12, 2020.

  1. bigbear0083

    bigbear0083 Content Manager
    Staff Member

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    Today's Pre-Market News [Wednesday, February 12th, 2020]

    Good Day Stockaholics! Welcome to Wednesday! ;)

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    Today's Top Headlines for Wednesday, February 12th, 2020
    • After a decline that took the major averages well off their Tuesday session highs, U.S. stock futures point to a strong Wednesday open as investors become slightly less concerned about the coronavirus. The S&P 500 and Nasdaq did manage to eke out record closes Tuesday despite the fall from their highs, and both are up in six of the past seven sessions. (CNBC)
    • On today’s economic calendar, Fed Chairman Jerome Powell will be back on Capitol Hill today, this time before the Senate Banking Committee in the second day of his semi-annual testimony on monetary policy. The Mortgage Bankers Association is out with its weekly report on mortgage applications at 10 a.m. ET, while the Energy Department releases its usual Wednesday look at oil inventories at 10:30 a.m. ET. (CNBC)
    • Bitcoin hits highest price this year, above $10,000 as Powell discusses cryptocurrencies (CNBC)
    • Powell says Fed ‘closely monitoring’ coronavirus for hit to China and the world (CNBC)
    • Earnings reports out before the opening bell include CVS Health (CVS), Molson Coors (TAP), Moody’s (MCO), and Teva Pharmaceutical (TEVA). After-the-bell reports will come today from Altice US (ATUS), Applied Materials (AMAT), Cisco Systems (CSCO), Equifax (EFX), International Flavors (IFF), Marathon Oil (MRO), MGM Resorts (MGM), Redfin (RDFN), and TripAdvisor (TRIP).
    • Shares of Bed Bath & Beyond (BBBY) were losing about a quarter of their value in the premarket after the home goods retailer said same-store sales were down a greater-than-expected 5.4% in December and January. The company blamed increased promotional pricing, lower store traffic and issues with inventory management. (Reuters)
    • Shares of Lyft (LYFT) were down over 4% in the premarket despite a strong fourth-quarter report. The company’s earnings beat estimates on revenue and active riders and a lower-than-expected loss per share. However, Lyft did not give an update on its profitability timeline as its competitor Uber (UBER) did during its earnings report last week. (CNBC)
    • Sen. Bernie Sanders will win New Hampshire’s Democratic primary, NBC News projected, setting him up near the top of a fractured presidential field. The Vermont senator will edge out former Mayor Pete Buttigieg. Sen. Amy Klobuchar of Minnesota will come in third. Sen. Elizabeth Warren and former VP Joe Biden were vying for fourth place as results came in. (CNBC)
    • Joe Biden’s donors are divided on his 2020 prospects after New Hampshire, Iowa flops (CNBC)
    • Amy Klobuchar’s campaign gets a boost as Biden and Warren fizzle in New Hampshire (CNBC)
    • Presidential candidate Andrew Yang dropped out of the 2020 Democratic race after finishing well behind top-tier candidates in the Iowa caucus and New Hampshire primary. Sen. Michael Bennet also dropped out of the race as results started rolling in. (CNBC)
    • The flu-like coronavirus that has sickened more than 44,500 people in over two dozen countries now has a name: COVID-19. The new virus that emerged from a seafood market in Wuhan, China, likely originated in bats and then jumped to an “intermediate host” before infecting humans, World Health Organization officials said. (CNBC)
    • The coronavirus appears to be sparing one group of people: Kids (CNBC)
    • CDC says ‘mix-up’ led to early release of coronavirus patient in California (CNBC)
    • Nissan filed a civil lawsuit against former Chairman Carlos Ghosn today, seeking an initial amount of $90 million. The claimed damages are linked to Ghosn’s “breach of fiduciary duty as a company director and his misappropriation of Nissan’s resources and assets,” the Japanese automaker said in a statement. (CNBC)
    • Airbnb reportedly lost money last year as costs outpaced revenue, casting doubt on the company’s private valuation and the timing of its planned public debut this year. The home-sharing start-up reportedly lost $322 million over the first nine months of last year.
    • Google (GOOGL) today will seek to overturn the first of three hefty EU antitrust fines at Europe’s second-highest court in a landmark case that could determine how EU enforcers take on U.S. tech giants for abuse of market power. In the U.S., the FTC said it will examine prior acquisitions by Alphabet, Amazon, Apple, Facebook and Microsoft. (Reuters & 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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    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 $JE)
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    THIS WEEK'S UPCOMING IPO'S:
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    THIS MORNING'S PRE-MARKET EARNINGS RELEASES:
    ($SHOP $CVS $TEVA $GOLD $CYBR $GPN $LAD $TRVG $CME $VERU $MCO $TAP $NSIT $CVE $ARCC $IQV $NBL $NBLX $RDWR $PERI $IPG $CIM $AB $BG $CIGI $KALA $KMDA $COWN $CRWS $NTWK $GEO $WNC $TW $ECOM $CSTE $SANW))
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    EARNINGS RELEASES BEFORE TODAY'S MARKET OPEN:
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    EARNINGS RELEASES AFTER TODAY'S MARKET CLOSE:
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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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    • CVS Health (CVS) – The drug store operator beat estimates by 5 cents a share, with quarterly earnings of $1.73 per share. Revenue also beat forecasts and CVS gave a full-year EPS outlook of $7.04 to $7.17, compared to a consensus estimate of $7.15 a share.
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    • Molson Coors (TAP) – The beer brewer earned $1.02 per share for the fourth quarter, well above the 78 cents a share consensus estimate. Revenue also beat Wall Street projections, despite what Molson Coors calls “significant headwinds and continued volume declines.”
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    • Teva Pharmaceutical (TEVA) – The world’s largest generic drugmaker beat estimates by a penny a share, with quarterly profit of 62 cents per share. Revenue also topped expectations.
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    • Moody’s (MCO) – The credit-rating agency earned $2.00 per share for the fourth quarter, 7 cents a share above estimates. Revenue also came in above analysts’ forecasts. The company’s full-year outlook for 2020 is also largely above consensus. Moody’s said it is benefiting from increased global bond issuance, as well as increasing demand for research from its Moody’s Analytics unit.
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    • Shopify (SHOP) – The e-commerce platform company earned an adjusted 43 cents per share for its latest quarter, compared to a consensus estimate of 24 cents a share. Revenue also beat forecasts on strong Black Friday and Cyber Monday sales on Shopify’s platform.
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    • CyberArk Software (CYBR) – The cybersecurity company beat estimates by 16 cents A share, with quarterly earnings of 97 cents per share. Revenue also came in above consensus. CyberArk said, however, that its full-year adjusted EPS outlook is $2.26-$2.38, below the consensus estimate of $2.79 a share.
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    • Lyft (LYFT) – Lyft lost $1.19 per share for the fourth quarter, 20 cents a share less than Wall Street had been expecting. The ride-hailing service’s revenue beat consensus estimates. Lyft also said it is still on track to achieve a key measure of profitability by the end of 2021.
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    • Bed Bath & Beyond (BBBY) – The housewares retailer said same-store sales were down a greater-than-expected 5.4% in December and January, amid increased promotional pricing, lower store traffic, and issues with inventory management.
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    • Akamai Technologies (AKAM) – Akamai reported adjusted quarterly earnings of $1.23 per share, 10 cents a share above estimates. Akamai’s ’s revenue also beat Street forecasts. Results were driven by strong growth in its cloud security unit, as well as upbeat results for its flagship content delivery platform business.
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    • Alphabet (GOOGL) – Alphabet’s Google unit will be in court today, seeking to overturn one of three record European Union antitrust fines. Google had been fined $2.6 billion for allegedly favoring its own price comparison shopping service over those of smaller European competitors.
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    • NCR (NCR) – NCR beat estimates by a penny a share, with quarterly profit of 85 cents per share. The payment processing software and services provider’s revenue was also above Street forecasts.
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    • Western Union (WU) – Western Union reported quarterly earnings of 38 cents per share, 5 cents a share below estimates. The payment processing company’s revenue also beat forecasts, and Western Union gave an upbeat outlook for 2020. The company announced a 13% increase in its quarterly dividend as well.
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    • Macerich (MAC) – Macerich was downgraded to “underweight” from “neutral” at Piper Sandler, which thinks Simon Property’s (SPG) acquisition of Taubman Centers (TCO) makes an acquisition of the shopping center operator less likely.
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    Have a great trading day ahead to everyone in here on this Wednesday! ;)
     

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