Investors are unpacking Walt Disney's corporate report
Futures on the Dow Jones Industrial Average (DJI), S&P 500 Index (SPX), and Nasdaq-100 Index (NDX) are all pointed slightly below fair value on Friday morning. Despite yesterday's breather amid Federal budget concerns, all three indexes are still on track for sizable weekly wins amidst a so-far impressive February of gains.
Meanwhile, President Joe Biden announced that his administration has signed deals for an additional 200 million Covid-19 vaccine doses from Moderna (MRNA) and Pfizer (PFE), bringing the U.S. total to 600 million -- enough for 300 million people. The administration is aiming to supply 300 million Americans the shot by July.
Continue reading for more on today's market, including:
- Now looks like a good time to buy the dip on AKAM.
- Options traders are flocking to Twitter stock.
- Plus, Disney sees streaming success; AZN gives vaccine update; and DDOG makes two acquisitions.
5 Things You Need to Know Today
- The Cboe Options Exchange (CBOE) saw more than 2.5 million call contracts traded on Thursday, and 924,122 put contracts. The single-session equity put/call ratio rose to 0.38 and the 21-day moving average rose to 0.41.
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Blue-chip stock Walt Disney Company (NYSE:DIS) is up 1.6% before the bell, after the film giant reported better-than-expected fiscal first-quarter earnings and revenue. Though Disney's theme park attendance suffered due to the pandemic, its Disney+ streaming service thrived. To follow, no fewer than eight analysts raised their price targets. On the charts, DIS is looking to hit a fresh record high straight out of the gate.
- The shares of AstraZeneca plc (NASDAQ:AZN) are up 1.3% in electronic trading, after the company announced the first doses of its coronavirus vaccine will be released by the end of March, with one million doses per week afterwards. In the past three months, AZN is down 11.9%.
- Datadog Inc (NASDAQ:DDOG) is down 4% ahead of the open this morning, brushing off an upbeat fourth-quarter report after a weak forecast. Furthermore, the company has been making buyout moves today, acquiring both Timber Technologies and Sqreen. So far, no fewer than 11 analysts raised their price targets on the software stock.
- Today will feature data on the consumer sentiment index.
Investors Monitor Vaccine Developments Globally
Asian markets were muted on Friday, with China’s Shanghai Composite, the South Korean Kospi, and Hong Kong’s Hang Seng still observing the Lunar New Year holiday. Meanwhile, Japan’s Nikkei fell 0.1% due to low trading volumes, after being closed the session prior.
Across the pond, stocks are mixed, after the United Kingdom released official data showing its economy dropped 9.9% in 2020, for its worst output fall in modern records. Investors are also keeping an eye on Covid-19 vaccine developments, and escalating tensions with Russia, after the country said it is prepared to end its relationship with the European Union (EU). In turn, the German DAX fell 0.4%, while the French CAC 40 and London’s FTSE 100 added 0.3% and 0.1%, respectively.