Good morning traders and investors of the r/StockMarketChat sub! Welcome to Thursday! Here are your pre-market stock movers & news on this Thursday, October 7th, 2021-
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5 things to know before the stock market opens Thursday
1. Dow set to jump as optimism builds for a debt celling deal
- Dow futures rose 300 points Thursday as Democratic senators signaled they were receptive to a debt ceiling offer from Senate GOP leader Mitch McConnell that would allow an emergency increase into December. Optimism about a possible deal swung Wall Street from sharp early Wednesday losses to modest gains at the close for the Dow Jones Industrial Average, the S&P 500 and the Nasdaq. All three benchmarks were tracking Thursday for three-session winning streaks after October started off with sharp back-and-forth losses and gains.
2. Bond yields steady ahead of jobs data Thursday and Friday
- The 10-year Treasury yield was steady Thursday and remained above 1.5% ahead of the Labor Department’s weekly look at initial jobless claims. Economists expect first-time filings for unemployment benefits of 345,000 for the week ended Oct. 2. That would represent a decline from the prior week’s 362,000 new claims. The government issues its September employment report Friday. ADP’s look at private sector hiring trends last month, released Wednesday, came in stronger than expected.
3. McConnell wants to give Dems time to act alone on debt ceiling
- McConnell late Wednesday said his debt ceiling offer would give Democrats time to use their majorities on Capitol Hill to craft a bill to raise the borrowing limit on their own without Republican votes. The deadline to take action on the debt limit and avoid a U.S. credit default is Oct. 18. If Democrats accept McConnell’s offer, lawmakers will again face pressing deadlines to fund the government and raise the debt limit before heading home for the holidays.
4. Biden to tout Covid vaccine mandates for large companies
- President Joe Biden on Thursday is set to visit Chicago to meet with United Airlines’ CEO and local Democratic leaders as he touts his decision to impose Covid vaccine mandates on employees of large firms. Biden last month ordered all federal workers and contractors to be vaccinated, with few exceptions. For private employers with 100 or more workers, he proposed requiring employees to be vaccinated or tested weekly.
5. George Soros’ fund owns ‘some’ bitcoin, CEO of the fund confirms
- Soros Fund Management, the asset management company founded by billionaire investor and philanthropist George Soros, has revealed it owns the cryptocurrency bitcoin. The family office owns “some coins … but not a lot,” Dawn Fitzpatrick, CEO and chief investment officer of Soros Fund Management, said in an interview at a Bloomberg event this week. While lower Thursday, bitcoin has staged a comeback in recent days, trading above $54,000.
STOCK FUTURES CURRENTLY:
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YESTERDAY'S MARKET MAP:
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TODAY'S MARKET MAP:
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YESTERDAY'S S&P SECTORS:
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TODAY'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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THIS WEEK'S UPCOMING IPO'S:
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THIS WEEK'S EARNINGS CALENDAR:
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THIS MORNING'S PRE-MARKET EARNINGS CALENDAR:
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EARNINGS RELEASES BEFORE THE OPEN TODAY:
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EARNINGS RELEASES AFTER THE CLOSE TODAY:
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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 MOST ACTIVE TRENDING TICKERS ON STOCKTWITS:
- TLRY
- MRNA
- BABA
- NRXP
- NURO
- CCXI
- XLM.X
- BNTX
- MNKD
- NIO
THIS MORNING'S STOCK NEWS MOVERS:
(source: cnbc.com)
Conagra Brands (CAG) – The company behind food brands like Healthy Choice, Hunt’s and Hebrew National earned an adjusted 50 cents per share for its latest quarter, 1 cent above estimates, while revenue also came in ahead of Wall Street forecasts. Conagra also said it expects to deliver on its full-year targets despite inflationary pressures.
STOCK SYMBOL: CAG
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Tilray (TLRY) – The Canadian cannabis producer matched Street forecasts for a quarterly loss of 8 cents per share, while revenue was short of consensus. Revenue did jump 43% from a year earlier, with the company noting that retail cannabis stores in Canada started to reopen in mid-June.
STOCK SYMBOL: TLRY
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Levi Strauss (LEVI) – Levi Strauss beat estimates by 11 cents with an adjusted quarterly profit of 48 cents per share and the apparel maker’s revenue also topped Street forecasts. The company benefited from an easing of pandemic restrictions that prompted people to refresh their wardrobes. The stock jumped 3.9% in the premarket.
STOCK SYMBOL: LEVI
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Helen Of Troy (HELE) – The housewares and health care products company earned an adjusted $2.65 per share for its latest quarter, compared with a $2.17 per share consensus estimate. Revenue also came in above analyst forecasts. The company said it was able to overcome the “significant impact of widespread inflation,” which impacted nearly all input costs.
STOCK SYMBOL: HELE
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Twitter (TWTR) – Twitter rose 2.4% in premarket trading after announcing the sale of its mobile ad unit MoPub to app development tools maker AppLovin for $1.05 billion in cash. Twitter had purchased MoPub in 2013 for an estimated $350 million.
STOCK SYMBOL: TWTR
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Meredith Corp. (MDP) – Meredith agreed to be bought by Dotdash – the digital media arm of IAC/Interactivecorp (IAC) – for about $2.7 billion in cash or $42.18 per share. The combined company will be called Dotdash Meredith and will include popular Meredith magazine titles such as People and Better Homes & Gardens. Meredith had agreed earlier this year to sell its TV stations to Gray Television for $2.83 billion. Meredith rallied 6.4% in the premarket.
STOCK SYMBOL: MDP
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Costco (COST) – The warehouse retailer added 1.3% in premarket action after it reported a September comparable sales increase of 14.3%, slightly above the prior-month increase of 14.2%.
STOCK SYMBOL: COST
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Aspen Technology (AZPN) – Emerson Electric (EMR) is in talks to merge its software business with the industrial software company, according to people with knowledge of the matter who spoke to Bloomberg. Aspen shares soared 13.1% in the premarket.
STOCK SYMBOL: AZPN
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Healthcare Trust of America (HTA) – Healthcare Trust shares jumped 3.4% in premarket trading after Bloomberg reported that activist investor Elliott Management is pushing for a strategic review that could result in a sale of the real estate investment trust.
STOCK SYMBOL: HTA
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Citrix Systems (CTXS) – Citrix Chief Executive Officer David Henshall has stepped down with the cloud computing company naming Chairman Bob Calderoni as interim CEO. Citrix fell 2.3% in the premarket.
STOCK SYMBOL: CTXS
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Rocket Labs USA (RKLB) – Rocket Labs surged 9% in the premarket after the company won a NASA contract to fly an experimental solar sail into space.
STOCK SYMBOL: RKLB
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FULL DISCLOSURE:
/u/bigbear0083 has no positions in any stocks mentioned. Reddit, moderators, and the author do not advise making investment decisions based on discussion in these posts. Analysis is not subject to validation and users take action at their own risk. /u/bigbear0083 is an admin at the financial forums StonkfForums.com where this content was originally posted.
DISCUSS!
What's on everyone's radar for today's trading day ahead here at r/StockMarketChat?
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