Earnings Season Highlights

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A collection of noteworthy post-earnings reactions
Published on Oct 30, 2019 at 11:59 AM
Updated on Mar 9, 2022 at 3:00 PM
  • Midday Market Check

The Dow Jones Industrial Average (DJI) is drifting lower at midday, as investors react to news that Chile has canceled the Asia-Pacific Economic Cooperation (APEC) meeting for next month, where President Donald Trump and Chinese President Xi Jinping were expected to meet and possibly sign a "phase one" trade deal. Chilean President Sebastian Pinera said he canceled the summit due to protests.

But for now, all eyes are trained on the Federal Open Market Committee (FOMC) interest rate decision, due at 2 p.m. ET, where a 25-basis-point cut is widely expected. Wall Street will also be eager to digest Fed Chair Jerome Powell's press conference at 2:30 p.m. ET, which could provide clues about future monetary policy.

And as if that's not enough, there's also the advanced reading on gross domestic product (GDP), which showed the U.S. economy grew by 1.9% in the third quarter, topping expectations of 1.6% growth. Private payrolls also grew by more than expected in October, according to data from ADP.

 Continue reading for more on today's market, including:

  • GE's earnings beat sparked heavy call trading today.
  • Analyst: Dump this retail stock ahead of the holiday season.
  • Plus, put traders target Kohl's; Johnson & Johnson's baby powder news; and YUM collapses after earnings miss.

Midday Market Stats Oct 30

One name seeing heightened options volume today is Kohl's Corporation (NYSE:KSS), with nearly 11,000 put options crossing the tape so far -- nine times the average intraday amount and volume pacing for the 95th percentile of its annual range. The weekly 11/22 55-strike put is the most popular, with a block of 4,500 contracts likely bought to open. The retail stock was last seen down 4% to trade at $51.73, and earnings are expected on Nov. 19, so options traders aren't expecting much from KSS in the coming weeks.

Johnson & Johnson (NYSE:JNJ) is pacing the Dow today, up 2.5% to trade at $132.38. Under pressure earlier this month amid a baby powder recall, the company today announced new tests showed no asbestos in its products. Today's push higher takes JNJ back above its year-to-date breakeven level. 

Yum! Brands, Inc. (NYSE:YUM) is one of the worst stocks on the New York Stock Exchange (NYSE) today, down 9.7% to trade at $98.76. The fast food chain reported third-quarter earnings and revenue that fell short of estimates, due to poor investment returns in delivery firm GrubHub (GRUB) and weak sales growth out of its KFC and Pizza Hut units. This is pacing to be YUM's worst single-session drop since October 2015, and takes the shares below their 200-day moving average for the first time since August 2018.

MMC Daily Chart YUM

Published on Oct 30, 2019 at 4:32 PM
Updated on Mar 9, 2022 at 3:00 PM
  • Market Recap

The Dow traded on both sides of the breakeven today, before eventually settling in positive territory, with all eyes on the Federal Open Market Committee's (FOMC) monetary policy decision. The central bank lowered its benchmark funds rate by 25 basis points as anticipated, and Fed Chair Jerome Powell said that inflation would need to rise "significantly" to consider a rate hike -- though he added that FOMC officials "see the current stance of monetary policy as likely to remain appropriate," downplaying the chances for more rate cuts in the near term.

It was a promising day on the earnings front, too, with General Electric (GE) posting a quarterly beat, while traders also digested upbeat economic data. As such, the Nasdaq and S&P 500 also closed the day in the black, with the latter index notching fresh record highs.

Continue reading for more on today's market, including:

  • 2 insurance stocks pulling back to historically bearish trendlines before earnings. 
  • These 3 penny stocks made big moves today. 
  • Plus, traders eye Cigna stock before earnings; puts pop on EIX stock; and the FDA drama bruising AMAG stock. 

The Dow Jones Industrial Average (DJI - 27,186.69) added 115.3 points, or 0.4%, closing near session highs. Johnson & Johnson (JNJ) led the 20 gainers on a 2.9% surge, while Chevron (CVX) fell to the bottom of the 10 losers with a 1.5% dip.

The S&P 500 Index (SPX - 3,046.77) tacked on 9.9 points, or 0.3%, for its best close ever. The Nasdaq Composite (IXIC - 8,303) finished 27.1 points, or 0.3% higher.

The Cboe Volatility Index (VIX - 12.33) settled down 0.9 point, or 6.6%.

Closing Indexes Summary Oct 30 

NYSE and Nasdaq Stats Oct 30

5 Items on Our Radar Today

  1. Some analysts are apparently throwing cold water on Tesla's (TSLA) surprise quarterly profit last week. Cowen and Roth both weighed in this week, essentially telling investors to remain cautious with the stock, as some of last quarter's positive aspects may not be repeatable. (MarketWatch)
  2. Even more wildfires are cropping up in California, including one that ignited just outside Ronald Reagan library near Los Angeles. The National Weather Service issued an "extreme red flag" warning for Los Angeles and Ventura counties. (Reuters)
  3. A look at how Cigna stock is faring just ahead of tomorrow's earnings report. 
  4. Why options bears have been swarming Edison International stock
  5. The FDA news that rocked this healthcare stock today. 

Corporate Earnings Oct 30

Unusual Options Activity Oct 30

Data courtesy of Trade-Alert

Oil Prices Fall After Inventories Update

Oil slipped today after a build-up in domestic crude inventories. December-dated crude futures settled down 48 cents, or 0.9%, to settle at $55.06 a barrel. 

Gold prices gained today before the Fed decision, with December gold futures rising $6, or 0.4%, to end at $1,496.70 an ounce. However, Powell's comments sent gold prices lower in electronic trading.

Published on Oct 31, 2019 at 9:18 AM
Updated on Mar 9, 2022 at 3:00 PM
  • Opening View

Dow Jones Industrial Average (DJI) futures are trading below fair value this morning, as traders react to a Bloomberg report suggesting the Chinese government is unsure about the chances of a long-term trade deal with the U.S. This news is overshadowing strong quarterly reports from the tech sector, where Apple (AAPL) and Facebook (FB) are gaining in pre-market trading following their releases. Futures on the S&P 500 Index (SPX) are below fair value, as well, as stocks look set to cool after yesterday's Fed-induced rally.

Continue reading for more on today's market, including: 

Stock Futures Chart Oct 31

5 Things You Need to Know Today

  1. The Cboe Options Exchange (CBOE) saw 1.11 million call contracts traded on Wednesday, compared to 669,880 put contracts. The single-session equity put/call ratio was 0.60, while the 21-day moving average came in at 0.67.
  2. Starbucks Corporation (NASDAQ:SBUX) delivered another strong quarter to investors, sending the shares up more than 3% before the open. Again, it was strength out of China that helped drive impressive sales for the quarter, along with cold beverages in the U.S. The upbeat earnings release comes as SBUX stock was hovering just above the 200-day moving average.
  3. Another stock moving higher post-earnings is Cigna Corp (NYSE:CI). The company's top- and bottom-line beat has the shares on pace to top the 320-day moving average this morning, which seems to be what option bulls were betting on. The healthcare company's adjusted earnings per share of $4.54 beat the consensus per-share estimate of $4.36, and it also raised its full-year outlook.
  4. Twitter Inc (NYSE:TWTR) is in focus this morning after the company said it was banning political advertising on its platform. The move is in direct contrast to rival FB's policy, and has TWTR shares down 1.5% before the open. This comes after the stock suffered a massive post-earnings bear gap earlier this month.
  5. Today brings weekly jobless claims, personal income and spending data, as well as the employment cost index (ECI). The Chicago purchasing managers index (PMI) is also expected. For earnings releases, Altria (MO), Clorox (CLX), Dunkin (DNKN), Fortinet (FTNT), Fluor (FLR), IMAX (IMAX), Kraft Heinz (KHC), Live Nation (LYV), Pinterest (PINS), Royal Caribbean (RCL), Sirius XM (SIRI), Wayfair (W), World Wrestling (WWE), Western Union (WU), and YETI (YETI) are among those reporting.

stock market news oct 31

Chinese Stocks Drop on Dismal Factory Data

It was a mostly higher finish for Asian stocks today, as investors sifted over the U.S. Fed's latest interest rate cut. China's Shanghai Composite was an exception to the rule, with a 0.3% loss, after factory activity from October contracted for the sixth straight month in October, with the country's official purchasing managers manufacturing index (PMI) arriving at at 49.3 -- down from its September reading.

Meanwhile, Hong Kong's Hang Seng was the biggest winner, tacking on 0.9% after an interest-rate cut from the city's central bank. Amid an announcement from the Bank of Japan (BoJ) that its monetary policy would remain unchanged, the Nikkei added 0.4%. Elsewhere, an earnings beat from Samsung Electronics helped the Kospi in South Korea cling to a 0.2% win.

European markets are lower midday amid waning optimism over a trade deal between the U.S. and China. A merger announcement from Fiat Chrysler (FCA) and French-owned PSA Groupe, worth roughly $6.1 billion, is also in focus. The French CAC 40 is 0.4% lower today, while the German DAX is down 0.2%. Meanwhile, the London FTSE 100 has lost 1%, as traders turn their attention toward day-one of U.K. Primer Minister Boris Johnson and competitor Jeremy Corbyn's campaign trail ahead of the December election.

Published on Oct 31, 2019 at 11:55 AM
Updated on Mar 9, 2022 at 3:00 PM
  • Midday Market Check

The Dow Jones Industrial Average (DJI) is sharply lower at midday -- and was down nearly 250 points at its session lows -- as U.S.-China trade tensions overshadow another busy day of earnings. A Bloomberg report, citing unnamed sources, indicated the Chinese government has doubts about a long-term trade deal and President Donald Trump's "impulsive nature" causing risk of reneging on any agreement. Trump took to Twitter to respond, saying "phase one" represents 60% of the long-term deal, and a new location for its signing will be announced soon, following yesterday's surprise cancellation of the Asia-Pacific Economic Cooperation (APEC) summit in Chile.

The S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are also in the red. However, the tech-heavy latter index's losses have been limited by big days for Apple (AAPL) and Facebook (FB) after their upbeat quarterly reports. Elsewhere, oil prices are sinking once more, with December-dated crude futures down 2.2% at $53.84 per barrel. 

 Continue reading for more on today's market, including:

  • These 2 drug stocks are bucking the broad-market sell-off.
  • Twitter stock is under pressure after banning political ads.
  • Plus, Gap pullback targeted by options bears; Kraft Heinz breaks out after earnings; and AK Steel slashes outlook after GM strike.

Midday Market Stats Oct 31

One name seeing heightened options volume today is Gap Inc (NYSE:GPS), with nearly 4,300 put options crossing the tape so far -- triple the average intraday amount and almost five times the number of calls traded. Nearly all of the attention is on the November 16 put, where new positions are being opened. GPS was last seen down 2.6% at $16.45, following a price-target cut to $15 at J.P. Morgan Securities, so the put buyers are banking on more struggles for the retail stock in the coming weeks.

Kraft Heinz Co (NASDAQ:KHC) is at the top of the SPX today, up 11.5% to trade at $31.91, after the food concern reported third-quarter earnings that topped analyst expectations. The company's CEO also revealed a plan to reduce debt and reinvest in its core brands. KHC is cruising toward its best day since February 2017, and is on track to finish above its 160-day moving average for the first time since July 2017.

MMC Daily Chart KHC

AK Steel Holding Corporation (NYSE:AKS) is one of the worst stocks on the New York Stock Exchange (NYSE) today, down 9.4% to trade at $2.42, after the company's third-quarter earnings report. The steelmaker slashed its fiscal-year outlook, citing the recent General Motors strike. Today's drop appears to have found support, though, at the shares' 80-day moving average.

Published on Oct 31, 2019 at 4:29 PM
Updated on Mar 9, 2022 at 3:00 PM
  • Market Recap

The Dow lost 140 points today, as sentiment over trade negotiations between Washington and Beijing continued to sour, dampening positive earnings from FAANG names Apple (AAPL) and Facebook (FBB). Specifically, a report from Bloomberg said some Chinese officials are wary over a long-term trade deal amid concerns over U.S. President Donald Trump's "impulsive nature." Trump responded to these reports with a tweet assuring that a new "phase one" signing location "will be announced soon." This did little to calm investors, evidenced by the Nasdaq and S&P ending in the red, too, with the latter puling back from yesterday's record high. 

Continue reading for more on today's market, including:

The Dow Jones Industrial Average (DJI - 27,046.23) lost 140.5 points, or 0.5%, with a 0.5% gain for the month. Apple (AAPL) led the five gainers on a 2.3% surge, while 3M (MMM) dragged down the 25 losers on a 2% drop.

The S&P 500 Index (SPX - 3,037.56) lost 9.2 points, or 0.3%, with a 2% pop for the month. The Nasdaq Composite (IXIC - 8,292.36) finished 11.6 points, or 0.1%, lower, settling 3.7% higher on the month. 

The Cboe Volatility Index (VIX - 13.22) settled up 0.9 point, or 7.2%, but lost 18.3% for the month. 

Closing Indexes Summary Oct 31

NYSE and Nasdaq Stats Oct 31

5 Items on Our Radar Today

  1. Billionaire investor Leon Cooperman had some harsh words for Sen. Elizabeth Warren today, in a letter sent to the Democratic presidential hopeful, calling out Warren's critical tweet against him from earlier this month. Cooperman accused her of admonishing him "as if a parent chiding an ungrateful child." The letter was obtained by CNBC. (CNBC)
  2. Three more people have been reported dead as the result of a mysterious vaping-related lung disease that has taken the lives of 34 already, and caused illness in roughly 1,800, according to a report from the Centers for Disease Control and Prevention (CDC). (Reuters)
  3. Behind Etsy stock's brutal post-earnings analyst drubbing. 
  4. 2 drug stocks running way up the Nasdaq.  
  5. How traders are reacting to Twitter's latest political ad ban

Corporate Earnings Oct 31

Unusual Options Activity Oct 31

Data courtesy of Trade-Alert

Oil Prices Fall for Fourth Straight Day

Oil clocked its fourth straight loss, dampened by weak Chinese economic data, and cooling optimism over a finalized U.S.-China "phase one" deal. December-dated crude futures lost 88 cents, or 1.6%, to settle at $54.18 a barrel. 

Gold popped back atop the psychologically significant $1,500 level, hitting a five-week high as traders turned back to the "safe haven" amid a stumbling U.S. stock market. December gold futures rose $18.10, or 1.2%, to end at $1,514.80 an ounce.


Published on Nov 1, 2019 at 9:15 AM
Updated on Mar 9, 2022 at 3:00 PM
  • Opening View

Dow Jones Industrial Average (DJI) futures are on the rise today thanks to the impressive jobs report for October. Specifically, nonfarm payrolls for the month increased by 128,000, blowing past estimates of 75,000. Traders are also considering another round of corporate earnings, headlined by Dow components Exxon Mobil (XOM) and Chevron (CVX). Futures on the S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) are also trading well above fair value, as stocks look set to overcome yesterday's trade headwinds, setting the former index up for a fourth straight weekly win.

Continue reading for more on today's market, including: 

US stock futures nov 1

5 Things You Need to Know Today

  1. The Cboe Options Exchange (CBOE) saw 1.14 million call contracts traded on Thursday, compared to 807,905 put contracts. The single-session equity put/call ratio moved up to 0.71, while the 21-day moving average came in at 0.66.
  2. Pinterest Inc (NYSE:PINS) is falling fast post-earnings, down 21% in pre-market trading. The company's third-quarter sales disappointed, and it also issued a downbeat full-year outlook. While we noted some put activity in recent weeks, traders at the major exchanges were still mostly focused on call buying coming into today, the sell-off could be especially painful for options traders.
  3. Cloud solutions provider Arista Networks Inc (NYSE:ANET) is also getting destroyed after its earnings release. While the company topped both bottom- and top-line estimates for the third quarter, it issued an ugly fourth-quarter forecast. If the stock's 28% pre-market loss holds, it'll be trading in two-year-low territory.
  4. Elsewhere on the earnings front, United States Steel Corporation (NYSE:X) is edging higher before the open, last seen up 5.5%. The bump comes after the company reported a smaller-than-expected loss for the quarter, but even this upside move would have it below the 100-day moving average still.
  5. Markit's manufacturing purchasing managers index (PMI), the Institute for Supply Management's (ISM) manufacturing index, and construction spending. New York Fed President John Williams is slated to speak. Earnings from AbbVie (ABBV), Alibaba (BABA), Cboe Global Markets (CBOE), Cheniere Energy (LNG), Colgate-Palmolive (CL), LyondellBasell (LYB), and Newell Brands (NWL) are due. Next week, Walt Disney (DIS) headlines the earnings schedule.

stock market news nov 1

Manufacturing Data in Focus in China

Most Asian markets closed higher today. China's Shanghai Composite's 1% pop outpaced its regional peers, after the Caixin manufacturing PMI rose to 51.7 in September -- its third straight month above the key 50 mark, which marks expansion. New export orders also swung into expansion territory, hitting their highest mark since February 2018. South Korea's Kospi and Hong Kong's Hang Seng gained ground, too, adding 0.8% and 0.7%, respectively. On the flip side, Japan's Nikkei gave back 0.3%, as a strengthening yen pressured exporters.

European stocks are modestly higher at midday, with auto and mining shares rising on China's upbeat manufacturing data. Earnings are also in focus, with logistics firm DSV Panalpina surging on the firm's strong quarterly profit, while lender Danske Bank slumps on weak guidance. At last check, the German DAX and the French CAC 40 are each flirting with 0.4% leads, while London's FTSE 100 is up 0.3%.

Published on Nov 1, 2019 at 11:53 AM
Updated on Mar 9, 2022 at 3:00 PM
  • Midday Market Check

The Dow Jones Industrial Average (DJI) looks ready to close out the week on a high note, up 240 points at midday. A blowout October jobs report is powering the upside, as payrolls easily beat estimates even amid a General Motors (GM) auto strike. The blue-chip index is also enjoying tailwinds from upbeat quarterly reports from energy giants Exxon Mobil (XOM) and Chevron (CVX), as the Dow barrels toward its second straight weekly win.

Both the S&P 500 Index (SPX) and Nasdaq Composite (IXIC) earlier nabbed new intraday record highs while cruising toward weekly wins; the fourth straight for the former and fifth straight for the latter. Elsewhere, oil prices are bouncing back on encouraging manufacturing data from China, with December-dated crude futures up 1.8% at $55.16 per barrel. 

 Continue reading for more on today's market, including:

  • Pinterest stock is heading for its worst day ever after earnings.
  • This insurance stock is about to head into a bearish month.
  • Plus, Newell options traders react to earnings; Alphabet places a buyout bid for Fitbit; and another Apple supplier explodes higher after earnings.

Midday Market Stats Nov 1

One name seeing heightened options volume today is Newell Co (NASDAQ:NWL), with nearly 13,000 put options crossing the tape so far -- 11 times the average intraday amount and almost triple the number of calls traded. Most of the action centers around the November 15 put, which is crossing the tape at the bid price, implying seller-driven volume. At last check, the Sharpie stock was up 9% to trade at $20.58 after a beat-and-raise quarterly report, set for its highest close since February.

Fitbit Inc (NYSE:FIT) is near the top of the New York Stock Exchange (NYSE) today, up 16% to trade at $7.13, after Alphabet (GOOGL) placed a buyout offer of $2.1 billion for the wearable tech company, confirming M&A buzz from earlier this week. FIT earlier nabbed a new annual high of $7.26, and has added 66.7% this week alone. 

MMC Daily Chart FIT

Qorvo Inc (NASDAQ:QRVO) is another high riser today, up 17.5% to trade at $94.97, after the Apple supplier issued current-quarter guidance that surpassed analyst expectations. Qorvo also announced a new $1 billion buyback program. No fewer than six brokerages have raised their price targets, including to $105 from $90 at Needham. QRVO stock is trading at its highest point in over 18 years. 

Published on Nov 1, 2019 at 4:33 PM
Updated on Mar 9, 2022 at 3:00 PM
  • Market Recap

The Dow erased yesterday's losses, tacking on over 300 points on better-than-expected employment data for October, despite the General Motors (GM) strike. In addition, investors cheered reassuring news that the U.S. and China have reached a consensus in principle on trade, with the Chinese Ministry of Commerce touting "serious and constructive" talks between high-level officials. Likewise, one White House official said the two sides have "made progress" and are "resolving outstanding issues."

A post-earnings surge from Exxon Mobil (XOM) and fresh highs for Apple (AAPL) helped boost the Dow, too, sweeping a wider-than-expected contraction in the Institute for Supply Management's (ISM) manufacturing purchasing managers' index (PMI) under the rug. The Nasdaq and S&P were the real stars of the day, though, with both indexes soaring to all-time highs. 

Continue reading for more on today's market, including:

  • 2 surging stocks options players swarmed today. 
  • Why analysts like this pharma stock before earnings. 
  • Plus, Sysco gears up for earnings; options bears pummel ANET stock; and Novo Nordisk lifts its full-year forecast

The Dow Jones Industrial Average (DJI - 27,347.36) added 301.1 points, or 1.1%, with a 1.4% gain for the week. Caterpillar (CAT) led the 18 gainers on a 4.8% win, while Merck (MRK) dragged down the 12 losers on a 2% dip.

The S&P 500 Index (SPX - 3,066.91) gained 29.4 points, or nearly 1%, with a 1.5% pop for the week. The Nasdaq Composite (IXIC - 8,386.40) finished 94 points, or 1.1%, higher, settling 1.6% higher on the week.  The SPX and IXIC touched new record highs of 3,066.95 and 8,386.75, respectively.

The Cboe Volatility Index (VIX - 12.30) settled down 0.9 point, or almost 7%, with a 2.8% loss for the week. 

Closing Indexes Summary Nov 1

NYSE and Nasdaq Stats Nov 1

5 Items on Our Radar Today

  1. NBC is taking aim at the increasingly competitive world of streaming services, and said it's considering a free, ad-supported version of Peacock. This would make Peacock the first no-charge, on-demand streaming service from a major media firm in the United States. (CNBC)
  2. Tesla (TSLA) CEO Elon Musk has, once again, announced that he is leaving Twitter, while adding that "Reddit still seems good." As of now, the account has yet to be deactivated. (Reuters)
  3. Sysco stock looks attractive, from a contrarian perspective. 
  4. Options bears swarmed ANET stock amid a post-earnings plummet. 
  5. NVO stock clocked fresh highs on solid guidance. 

Corporate Earnings Nov 1

Unusual Options Activity Nov 1

Data courtesy of Trade-Alert

Gold Finishes Lower, But Notches Weekly Win 

Oil reversed some of this week's losses today, boosted by promising U.S. economic data and a dip in the number of crude-oil drilling rigs. Hopes for U.S.-China trade talks also bolstered black gold. December-dated crude futures rose $2.02, or 3.7%, to settle at $56.20 a barrel, but lost 0.8% for the week.

Gold retreated today, as stocks strengthened on well-received employment data. The precious metal did, however, notch a win for the week. December gold futures slipped $3.40, or 0.2%, to end at $1,511.40 an ounce today, with a 0.4% win for the week.

Published on Nov 4, 2019 at 11:49 AM
Updated on Mar 9, 2022 at 3:00 PM
  • Midday Market Check

The Dow Jones Industrial Average (DJI) is trading up triple digits at midday, brushing off a big drop for blue chip McDonald's (MCD). The fast food stock was last seen down 2.5% on the unexpected ouster of CEO Steve Easterbrook. Instead, investors are reacting to upbeat U.S.-China trade buzz, which has the Dow, S&P 500 Index (SPX), and Nasdaq Composite (IXIC) all hitting record highs in intraday action.

 Continue reading for more on today's market, including:

midday market stats nov 4

Options bulls are blasting Micron Technology, Inc. (NASDAQ:MU) today, as the chip stock trades up 2.3% at $49.48. At last check, around 46,500 MU call have changed hands -- two times what's typically seen at this point, and nearly three times the number of puts on the tape. The weekly 12/13 52-strike and December 55 calls are most active, and it looks like new positions are being purchased here.

United States Cellular Corp (NYSE:USM) is near the top of the New York Stock Exchange (NYSE) today, after Raymond James upgraded the regional telecommunications name to "strong buy" from "outperform," while lowering its price target to $49 from $53. In reaction, USM shares are up 13.6% at $35.77, but remain 30% lower year-to-date, stuck beneath their 40-day moving average.

usm stock daily price chart on nov 4

Insperity Inc (NYSE:NSP) is at the bottom of the Big Board at midday, after the human resources specialist reported adjusted third-quarter profit of 75 cents per share -- well below the consensus estimate -- and cut its full-year profit forecast. As a result, NSP stock is down 32.3% to trade at $72.88, earlier hitting a 19-month low of $67.06.

Published on Nov 4, 2019 at 9:22 AM
Updated on Mar 9, 2022 at 3:00 PM
  • Opening View

Dow Jones Industrial Average (DJI) futures are signaling a record high today, up more than 100 points in pre-market trading after Commerce Secretary Wilbur Ross on Sunday confirmed that U.S. companies would be granted licenses to do business with Huawei in the near future. The S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) are also on track for more gains, following Friday's fresh highs. On the earnings front, Under Armour (NYSE:UAA) is in the spotlight, spiraling 15% in pre-market action after an accounting probe overshadowed its quarterly earnings beat.

Continue reading for more on today's market, including: 

US stock futures nov 4

5 Things You Need to Know Today

  1. The Cboe Options Exchange (CBOE) saw 1.31 million call contracts traded on Friday, compared to 693,878 put contracts. The single-session equity put/call ratio moved down to 0.53, while the 21-day moving average came in at 0.65.
  2. McDonald's Corp (NYSE:MCD) is down 1.7% in electronic trading after the firm fired CEO Steve Easterbrook on grounds that a consensual relationship he was having with an employee was in violation of company rules. McDonald's USA President Chris Kempczinski will take his place. 
  3. Jefferies downgraded pizza name Papa John's, Inc. (NASDAQ:PZZA) to "hold" from "buy," based on a boom in competition in the restaurant space. The stock has lost 1.4% ahead of the bell in response. 
  4. Regional bank stock First Horizon (NYSE:FHN) is inching 0.4% higher on news of its merger of equals with sector peer Iberiabank (IBKC), which is also up this morning. The two companies will merge under the First Horizon name. 
  5. Today's stock market calendar features factory orders and motor vehicle sales. Bausch Health (BHC), Cabot (CBT), Chegg (CHGG), Chemours (CC), Fabrinet (FN), Groupon (GRPN), Hertz (HTZ), Marriott (MAR), RingCentral (RNG), Shake Shack (SHAK), Sprint (S), Sysco (SYY), Tandem Diabetes Care (TNDM), Tenet Healthcare (THC), and Uber (UBER) make up the earnings schedule.

stock market news nov 4

Huawei News Helps Boost Markets in Asia, Europe 

Markets in Asia finished higher to start the week, taking cues from Wall Street’s big day Friday and the latest trade headlines over the weekend. China's Shanghai Composite added 0.6%, on news that the U.S. would lift Huawei restrictions “very shortly,” according to Commerce Secretary Ross. Hong Kong's Hang Seng paced the region with a 1.7% gain thanks to a big day from insurance giant AIA. Elsewhere, South Korea's Kospi gained 1.4%, while Japan's Nikkei was closed for holiday.

European stocks are also enjoying the U.S.-China trade tailwinds this morning. Both London's FTSE 100 and the French CAC 40 are 1% higher at midday. But the big story is the German DAX, up 1.3% and heading for its highest close in more than 17 months, propped up by upbeat manufacturing data and a positive earnings reaction from medical device name Siemens Healthineers.

Published on Nov 5, 2019 at 9:20 AM
Updated on Mar 9, 2022 at 3:00 PM
  • Opening View

Stock futures are once again pointing to all-time highs today, with Dow futures more than 70 points above fair value amid reports the U.S. may roll back some of the $125 billion in tariffs on Chinese goods enacted in September. This fresh optimism on U.S.-China relations comes just ahead of today's trade data, set for release later this morning, and amid a mixed bag of corporate earnings hitting Wall Street today.

Continue reading for more on today's market, including: 

  • The pharma stock options bulls swarmed after earnings. 
  • 3 stocks that scored upgrades. 
  • Plus, Peloton posts inaugural earnings;  MYGN stock sinks to bottom of Nasdaq; and Adobe lifts 2020 outlook. 

Futures Chart Nov 5

5 Things You Need to Know Today

  1. The Cboe Options Exchange (CBOE) saw 1.48 million call contracts traded on Monday, compared to 791,260 put contracts. The single-session equity put/call ratio moved up to 0.54, while the 21-day moving average came in at 0.64.
  2. Wall Street freshman Peloton Interactive Inc (NASDAQ:PTON) posted its first earnings results as a public company this morning. The exercise bike specialist beat revenue, and subscription numbers more than doubled year-over-year. The stock is up 1.1% ahead of the bell. 
  3. Drugmaker Myriad Genetics, Inc. (NASDAQ:MYGN) is one of the biggest losers on Wall Street this morning, down 38.9% in electronic trading after slashing its 2020 forecast, and posting worse-than-expected first-quarter profits. MYGN is set to open at a new two-year low around $21 per share.
  4. Adobe Inc (NASDQ:ADBE) stock is up 13.9% in electronic trading after hiking its fourth-quarter digital media annualized recurring revenue target by $25 million to roughly $475 million. Several analysts have already lifted their price targets, including a hike from Jefferies to $350 -- a roughly 26% premium to last night's close at $277.50. 
  5. Today's stock market calendar features international trade data, Markit's services purchasing managers index (PMI), the Institute for Supply Management's (ISM) non-manufacturing index, and the Job Openings and Labor Turnover Survey (JOLTS). Minneapolis Federal Reserve Bank President Neel Kashkari will speak after the close. Allergan (AGN), Amarin (AMRN), Chesapeake Energy (CHK), GW Pharmaceuticals (GWPH), Kratos Defense (KTOS), Match Group (MTCH), Mylan (MYL), Newmont Mining (NEM), Regeneron Pharmaceuticals (REGN), Tapestry (TPR), Whiting Petroleum (WLL), and WW (WW) make up the earnings slate.

stock market news nov 5

Asian Markets Flourish on Tariff Talks, While Europe Eyes Economic Data

Stocks in Asia took their cues from U.S. equities today and added solid gains across the board. Japan's Nikkei was the big winner, rising 1.8% and touching a new 2019 high, paced by a big move from conglomerate SoftBank Group. South Korea's Kospi tacked on 0.6%, while Hong Kong's Hang Seng finished 0.5% higher. Rounding out the region, China's Shanghai Composite gained 0.5%, despite the Caixin/Markit services purchasing managers index (PMI) coming in at a seven-month low for October.

Over in Europe, markets are cautiously higher. London's FTSE 100 is up 0.3%, despite tepid data from the U.K.’s services sector. However, higher consumer spending data in the region is brightening sentiment. Elsewhere, the French CAC 40 is also up 0.3%, while the German DAX is clinging to a 0.1% lead.

Published on Nov 5, 2019 at 11:56 AM
Updated on Mar 9, 2022 at 3:00 PM
  • Midday Market Check

The Dow Jones Industrial Average (DJI) hit a new record high earlier, as trade-sensitive stock Boeing (BA) climbs on positive headlines surrounding U.S-China tariff negotiations and news CEO Dennis Muilenburg said he would decline bonuses for this year. The Nasdaq Composite (IXIC) is fresh off an all-time peak, too, with both indexes eyeing a third straight win. Meanwhile, the S&P 500 Index (SPX) was last seen modestly lower, retreating from Monday's new milestone.

 Continue reading for more on today's market, including:

midday market stats nov 5

One name seeing notable options trading today is Shake Shack Inc (NYSE:SHAK), as the shares stage a dramatic post-earnings sell-off. At last check, roughly 24,000 SHAK options have traded, 16 times what's typically seen, and volume pacing in the 100th annual percentile. With Shake Shack stock down 30% at $67.36, it looks like some speculators are liquidating their weekly 11/8 70-strike puts, while others are initiating new positions at the weekly 11/8 75-strike call.

Regeneron Pharmaceuticals Inc (NASDAQ:REGN) is one of the best stocks on the S&P 500 Index (SPX) today, up 8.9% at $338.81. The biotech announced a third-quarter profit beat, thanks to bigger demand for its eye drug, Eylea, and eczema treatment, Dupixent. REGN stock has now pared its year-to-date deficit to 10.4%, and is poised to close above its 180-day moving average for the first time since mid-April.

regn stock daily price chart on nov 5

Newmont Goldcorp Corp (NYSE:NEM) is trading near the bottom of the S&P today, down 4.8% at $36.98. This is in reaction to the mining firm's lower-than-anticipated adjusted third-quarter earnings and revenue, as well as its downwardly revised annual output target. NEM stock has been retreating from its late-August three-year high of $29.77, and is now trading below its 120-day moving average for the first time since May.

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