Earnings Season Highlights

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A collection of noteworthy post-earnings reactions

Published on Aug 20, 2021 at 9:16 AM

Updated on Mar 9, 2022 at 3:00 PM

Opening View

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Dow, S&P Futures Drop as Stimulus Concerns Linger

by Fernanda Horner

Futures on the Dow Jones Industrial Average (DJI) are staring at an 88-point drop this morning, while futures on the S&P 500 Index (SPX) are firmly in the red as well, as the two major benchmarks pace for their worst week since June. Meanwhile, futures on the Nasdaq-100 Index (NDX) are slightly above breakeven, though the index is still eyeing its biggest weekly drop since May. This negative price action is linked to fears the Fed may soon taper off stimulus, despite the economy slowing down due to the Covid-19 delta variant.

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

This blue-chip stock earned a pre-earnings bull note.
Kohl's stock popped after beating Wall Street's estimates.
Plus, Spotify board approves stock buyback; Foot Locker stock surges on quarterly beat; and upgrade boosts Petco stock.

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5 Things You Need to Know Today

The Cboe Options Exchange (CBOE) saw more than 1.7 million call contracts traded on Thursday, compared to 1 million put contracts. The single-session equity put/call ratio rose to 0.61 and the 21-day moving average rose to 0.54.
Spotify Technology SA (NYSE:SPOT) is up 2.4% in electronic trading, after the company's board approved a $1 billion stock buyback. This demonstrates the music streaming name's confidence in long-term growth opportunities, according to Chief Financial Officer Paul Vogel. The security has been trending lower since June, and has shed 42.2% in the last six months.
The shares of Foot Locker, Inc. (NYSE:FL) are surging, last seen up 7.1% ahead of the bell. This positive price action came after the retailer beat analysts' second- quarter earnings estimates, thanks to a better-than-expected jump in comparable store sales. Today's pop could help the equity overcome pressure at the 40-day moving average. Year-over-year, FL is up 97.8%.
Pet retailer Petco Health and Wellness Company Inc(NASDAQ:WOOF) is up 3.4% before the open, after the security earned an upgrade from Credit Suisse to "outperform" from "neutral." The firm said it is more optimistic toward the company after its strong quarterly report. Longer term, WOOF remains down 10.8% year-to-date.
There is no relevant economic data on tap today.

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Government Regulations Weigh Heavy on Asian Markets

Anxieties over government regulations in China are cropping up again, and weighing heavily on markets in Asia. China-based were on blast after Chinese regulators issued a draft of new rules aimed at snuffing out anticompetitive practices. Separately, China also left it’s one-year loan prime rate (LPR) and five-year LPR unchanged at 3.85% and 4.65%, respectively. The Hong Kong Hang Seng took the biggest hit, dropping 1.8%, while the Shanghai Composite in China and the South Korean Kospi trailed close behind, shedding 1.1% and 1.2%, respectively. Meanwhile, Japan’s Nikkei took a nearly 1% haircut.

Over in Europe, stocks are also in the red, with spreading Covid-19 fears and concerns about monetary policy weighing on investors. The German DAX was last seen down 0.3%, the London FTSE 100 is off 0.2%, and the French CAC 40 is 0.3% lower.

Published on Aug 20, 2021 at 12:21 PM

Updated on Mar 9, 2022 at 3:00 PM

Ezines
Midday Market Check

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Benchmarks Pivot Higher Ahead of Volatile Week's End

by Laura McCandless

Published on Aug 20, 2021 at 4:33 PM

Updated on Mar 9, 2022 at 3:00 PM

Market Recap

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Stocks Bounce Back But Log Steep Weekly Losses

by Patrick Martin

Published on Aug 23, 2021 at 9:28 AM

Updated on Mar 9, 2022 at 3:00 PM

Opening View

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Dow Futures Eye Triple-Digit Pop Ahead of Fed Comments

by Fernanda Horner

Stock futures are pointed higher this morning, taking back ground after Friday's steep weekly losses. Futures on the Dow Jones Industrial Average (DJI) are looking at a 170-point pop, while Nasdaq-100 Index (NDX) and S&P 500 Index (SPX) futures are firmly in the black as well. Investors are looking ahead to the Jackson Hole symposium, which takes place on Thursday and Friday, and could offer hints as to the Federal Reserve's timeline for tapering off stimulus. Elsewhere, Bitcoin (BTC) surged to a three-month high of $50,000 on Sunday.

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

This software name scored a fresh record high after its quarterly win.
Best Buy stock is looking to outperform after its earnings report.
Plus, Paypal expands crypto services; why General Motors lost $1 billion; and Coinbase Global stock rides Bitcoin's surge.

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5 Things You Need to Know Today

The Cboe Options Exchange (CBOE) saw more than 2 million call contracts traded on Friday, compared to 1.1 million put contracts. The single-session equity put/call ratio fell to 0.57 and the 21-day moving average stayed at 0.54.
PayPal Holdings Inc (NASDAQ:PYPL) is up 0.9% in electronic trading, after the online payment systems company said U.K. customers will be allowed to buy, hold and sell cryptocurrencies starting this week. This marks first time customers outside the U.S. will be able to use its cryptocurrency services. The equity just hit a July 26 all-time-high of $310.16, and sports a 37.7% year-over-year lead.
The shares of General Motors Company (NYSE:GM) are down 1.5% ahead of the bell, after the automaker widened its Chevy Bolt recall to newer models, to address a battery issue. The move is expected to cost the company $1 billion. The security has been trending lower on the charts since its June 7, record high of $64.30, but remains up 69.3% year-over-year.
Cryptocurrency exchange concern Coinbase Global Inc (NASDAQ:COIN) is up 3.5% before the open, after bitcoin surged to its highest level since May on Sunday. The equity has seen some volatility on the charts since it first becoming public in April with an initial public offering (IPO) of $250. Over the last three months, though, COIN has added 14.7%.
Today brings both the Markit manufacturing and services PMI, as well as existing home sales data.

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European Markets Inch Higher on Heels of Economic Data

Markets in Asia rose to start the week, led by Japan's Nikkei, which jumped 1.8%, as investors brush off continued regulatory concerns. The Hong Kong Hang Seng added 1.1% -- bouncing back from bear market territory after slipping to its lowest level since late October at the end of last week. Elsewhere, China's Shanghai Composite climbed 1.5%, and the South Korean Kospi tacked on 1%.

Meanwhile, European markets are slightly higher, after their biggest weekly decline since February. The Euro zone's IHS Markit's flash composite purchasing managers’ index (PMI) hit a two-month low of 59.5 in August, while the U.K.'s IHS Markit/CIPS flash composite PMI posted its third-straight monthly decline in July – falling to 55.3. At last glance, London's FTSE 100 is up 0.4%, the French CAC 40 is posting a 0.9% rise, and the German DAX is 0.3% higher.

Published on Aug 23, 2021 at 12:11 PM

Updated on Mar 9, 2022 at 3:00 PM