| Let me know what your thoughts are. I'm quiet interested in this Posted: 05 Nov 2021 08:50 AM PDT |
| Peloton Reportedly Freezes Hiring As Shares Plunge 35% Following Dismal Earnings Posted: 05 Nov 2021 03:44 PM PDT |
| Jerome usually rehearses his workday at home in the morning Posted: 05 Nov 2021 12:25 PM PDT |
| October jobs report: Payrolls grew by 531,000 as unemployment rate fell to 4.6% Posted: 05 Nov 2021 05:38 AM PDT |
| Here is a Market Recap for today Friday, November 5, 2021. Please enjoy! Posted: 05 Nov 2021 02:12 PM PDT PsychoMarket Recap - Friday, November 5, 2021 Stocks continued its remarkable rally, with all three major indexes hitting fresh intraday highs today as market participants celebrated the October jobs report, which showed a better-than-expected pickup in employment. This is a great sign given labor market imbalances caused by the pandemic have been a focal point for market participants. According to the US Labor Department, the pace of employment greatly improved after two disappointing months, with the report citing declining coronavirus cases and increased demand for workers for the uptick. Here are the numbers: - Change in non-farm payrolls, October: +531,000 vs. +450,000 expected, and a great improvement over the +194,000 job added in September
- Unemployment rate: 4.6% vs. 4.7% expected, 4.8% in September
During a press conference, President Joe Biden said of the Labor report, "Our economy is starting to work for more Americans. Thanks to the economic plan we put through in Congress earlier this year and a successful vaccine deployment, America continues to add jobs at a record pace. In this historically strong recovery, unemployment has fallen again today," President Joe Biden said during a press conference on Friday." Though payrolls have grown every month so far in 2021, the economy remains more than 4 million jobs short of its pre-pandemic levels following plunges in employment between March and April of 2020. And the civilian labor force was still down by nearly 3 million individuals compared to February 2020 as of October. Earlier in the week, as was widely expected and extensively talked about on these recaps, the Fed announced it would begin tapering the pace of quantitative easing this month. As a reminder QE is one of the most powerful tools the fed has to help underpin the economy and financial markets during times of stress or crises (like the pandemic). Since last year, the Fed had been running QE at a clip of $120 billion per month. That pace will now begin to slow. Highlights - Shares of Peloton (PTON) slid more than 30% after the company reported disappointing earnings.
- Amazon (AMZN) is seeking approval from U.S. communications regulators to deploy more than 4,500 additional satellites as part of the company's effort to deliver broadband internet to areas around the world that lack high-speed service. Amazon (AMZN) said in its filing the satellites "will serve households, hospitals, businesses, government agencies, and other organizations around the world, including in geographic areas where reliable broadband remains lacking."
- According to the Mayor of Markham, Ontario, Tesla (TSLA) plans to open a factory to produce battery manufacturing equipment. Mayor Frank Scarpitti said in a Tweet "I'm delighted to share that Tesla Canada is joining our already robust automotive and technology ecosystem by locating a manufacturing facility in the City of Markham,"
- EV start-up Rivian, which has the backing of Amazon (AMZN) and Ford Motors (F), is set to go public next week at an estimated valuation of $53 billion. The company will benefit from having Amazon buying a bunch of electric vans, but the valuation seems rich in my humble opinion
- **Please note that price target upgrades are written during the session and may not reflect closing prices*\*
- Apple (AAPL) price target raised by Fundamental Research from $164 to $165 at Buy. Stock currently around $151
- Aptiv (APTV) with a host of target raises. Average price target $200 at Outperform. Stock currently around $175
- Builders First Source (BLDR) with a host of target raises. Average price target $80 at Buy. Stock currently around $67
- Cigna (CI) target raised by Jefferies Financial from $270 to $277 at Buy. Stock currently around $215
- Datadog (DDOG) with a host of target raises. Average pierce target $220 at Buy. Stock currently around $185
- DigitalOcean (DOCN) with three target raises. Stock currently around $102
- Barclays from $95 to $120 at Overweight
- KeyCorp from $106 to $120 at Overweight
- Canaccord Genuity from $65 to $115 at Buy
- Floor and Decor (FND) with ahost of target raises. Average price target $155 at Buy. Stock currently around $133
- Microchip Technology (MCHP) with a host of target raises. Average price target $105 at Outperform. Stock currently around $86
- MercadoLibre (MELI) target raised by Barclays from $2100 to $2200 at Overweight. Stock currently around $1620
- Cloudflare (NET) with two target raises. Stock currently around $196
- Needham & Co from $140 to $245 at Buy
- Cowen from $200 to $250 at Outperform
- Sunrun (RUN) target raised by BMO Capital Markets from $65 to $72 at Outperform. Stock currently around $56
- Skyworks (SWKS) target raised by Mizuho from $215 to $218 at Buy. Stock currently around $164
- Uber (UBER) target raised by Wedbush from $51 to $57 at Outperform. Stock currently around $47
"A gem cannot be polished without friction, nor a person perfected without trials. – Seneca submitted by /u/psychotrader00 [link] [comments] |
| Finally in the green fellas! It was a rough start but it's good to be back Posted: 05 Nov 2021 08:32 PM PDT |
| CHGG outlook within next 6 months? I think it’s extremely undervalued Posted: 05 Nov 2021 03:22 PM PDT So CHGG earnings just took a huge hit on Monday, making it drop 50%. The reasons for the drop cite declining revenue compared to pandemic times. It could also be from a "slowing industry" since more kids are going back to in-person classes. Not sure why this would have such a significant impact, since I would imagine kids would keep their Chegg accounts whether they have in-person classes or not. Competitors like Coursera and Nerdy stocks are doing just fine, which leads me to believe this was an over-valuation correction. 50% though seems really drastic to me, which has brought me to the conclusion that CHGG is currently undervalued. Before the pandemic in March 2020, CHGG was steadily rising and sat about $43/share before it shot up because of the shift to online classes. Therefore, I have no idea why it would be valued at $30/share today when its previous reports have all been positive and growth has been strong. I think CHGG at the lowest should be valued at around $40 if not higher at $45 or $50. Also, I've heard rumors that the company sold shares high during the pandemic and are looking to do a buy back soon, now that shares dropped. I've bought 45c expiring in April 2022 to try and predict this correction. What do you guys think? submitted by /u/trollem12 [link] [comments] |
| IBM spins off it's IT services to focus more on IT cloud services (like if GM spun out it's gas powered vehicle divisions to focus on electric vehicles) Posted: 05 Nov 2021 09:50 AM PDT |
| Prof. Aswath Damodaran's latest valuation of TSLA (2021) Posted: 05 Nov 2021 08:44 PM PDT |
| Bill Ackman Says sustainability and ethical oversight of Investing Contributes to Inflation Posted: 05 Nov 2021 12:58 PM PDT |
| Chinese real estate developer Kaisa halts trading in Hong Kong, as debt concerns escalate Posted: 04 Nov 2021 10:19 PM PDT |
| Dividend Plays with strong momentum and Big Gaps up to Pre-Pandemic levels Posted: 05 Nov 2021 10:22 AM PDT If anyone likes stocks that have a good deal of growth left to get back to pre pandemic levels, that also are paying fat dividends at the same time… Here's a few I really like. Basically, while the stocks are growing substantially back to normal levels, they also pay you nice checks in the process to protect you. PBFX - PBF Logistics pays an 8.83% dividend and has a good 80% to appreciate still with great momentum PBA - Pembina Pipeline pays a 6.2% dividend while having a 50% runway to get to current price targets of around 48$ RWT - Redwood Trust pays a 6.25% dividend while having about a 50% gap to pre pandemic levels CIM - Chimera pays a 8.07% dividend while having about 45% to run back to pre pandemic levels EPR Properties - owns Top Golf and pays a 6% dividend while having a 70% runway to pre pandemic levels. Good luck out there ladies and gentlemen submitted by /u/995511abc [link] [comments] |
| Pfizer boom!! Posted: 05 Nov 2021 06:26 AM PDT |
| Market open - Friday, November 5th, 2021 Posted: 05 Nov 2021 06:38 AM PDT |
| Why is my WEED portfolio up 13.64% Today? Started day down abt. 45%. I have my suspensions, but I don't want to lead the question. Thanks! Posted: 05 Nov 2021 01:29 PM PDT |
| Wall Street Week Ahead for the trading week beginning November 8th, 2021 Posted: 05 Nov 2021 06:41 PM PDT Good Friday evening to all of you here on r/StockMarket. I hope everyone on this sub made out pretty nicely in the market this past week, and are ready for the new trading week ahead. Here is everything you need to know to get you ready for the trading week beginning November 8th, 2021. Stocks could soar to new heights in week ahead — even though inflation data may come in hot - (Source)
Stocks could take aim at new highs in the week ahead, even as investors face fresh data that could show the highest year-over-year jump in consumer inflation in more than 30 years.
Stocks touched record levels Friday, after a monumental week that included the Federal Reserve's announcement that it will wind down its bond buying, the first big step away from the easing measures it put in place to fight the pandemic.
The S&P 500 gained 2% for the week, endig at a record 4,697. The Dow, also at a new high, rose 1.4% to 36,327, and the Nasdaq jumped 3% to a record 15,971.
"The important drivers of the market, I think, remain intact — earnings and interest rates," said Leo Grohowski, chief investment officer at BNY Mellon Wealth Management. "I think the Fed gave the equity market what it was looking for... which was an awareness of inflation without an overreaction to inflation. Meanwhile we're still digesting what's been a really strong earnings season."
The Fed expects to fully wind down its $120 billion-per-month bond purchases by the middle of next year. At that point some economists expect the central bank to start raising interest rates. Fed Chairman Jerome Powell assured markets the central bank still sees inflation as temporary, but that if it proves to be hotter, the Fed would act.
"I think investors are sounding the all-clear for the equities market here, at least in the short-term, and it's hard to argue with. We have more concerns when you take a six-month view," said David Donabedian, chief investment officer of CIBC Private Wealth Management.
"The biggest concern is inflation which we don't think is transitory," he added. "I would look for a rate hike almost immediately after the tapering process is done which is mid-2022."
The stickiness of higher prices Donabedian said the concern is that sticky inflation could force the Fed to move sooner to raise interest rates to battle rising prices.
The producer price index and consumer price index are reported Tuesday and Wednesday, respectively. Economists expect both reports to remain elevated for October. Headline PPI is expected to rise 0.6%, according to Dow Jones.
CPI is expected to be the hottest post-pandemic print yet. Headline CPI inflation is expected to rise by 0.6% or 5.9% year-over-year, the fastest pace since December 1990. Core inflation, excluding energy and food, is expected to rise 4.3% year-over-year.
"The acceleration in shelter costs is stunning so if you get that, along with energy price increases, we could see a 5.7% [headline gain]," said Diane Swonk, chief economist at Grant Thornton.
Steve Sosnick, chief strategist at Interactive Brokers, said markets are already expecting the elevated inflation prints.
"Markets right now have a certain amount of tunnel vision. Easy money will continue for awhile and even though the Fed has told us they're not refilling the punch bowl, the party is going to go on for quite some time," he said. "Right now the path of least resistance is higher."
Fed officials not on same page Central bank speakers will also be a highlight in the week ahead, with Fed Chairman Jerome Powell appearing at two events. On Monday, he is at a Fed conference on gender and the economy. He speaks Tuesday at a virtual conference on diversity and inclusion in economics, finance and central banking, co-hosted by the Federal Reserve Board, Bank of Canada, Bank of England and European Central Bank.
There are plenty of other Fed officials speaking as well, including Fed Vice Chairman Richard Clarida, New York Fed President John Williams and San Francisco Fed President Mary Daly.
CIBC's Donabedian said the group of speakers could be important, and it will be key to listen for nuances to their views on rising prices. "You do get some different twists on inflation. While it's not going to look like an FOMC feud at all, it will look like members are not on the same page on inflation," he said.
Investors will also be watching Congress for any progress on the Biden spending plan, which is meeting opposition in the Senate.
"It looks like we're going to get some sort of vote in the House on the two big fiscal packages," said Donabedian. He said he expects the House to pass both, and the infrastructure bill should be signed into law.
"It does leave open whether the Senate is going to want to make major change to the social spending bill, and there's a chance that that flops," he said, noting it has less than a 50% chance of failing.
The earnings season is winding down but there are still a number of reports in the coming week, including The Walt Disney Company on Wednesday.
This past week saw the following moves in the S&P: S&P Sectors for this past week: Major Indices for this past week: Major Futures Markets as of Friday's close: Economic Calendar for the Week Ahead: Percentage Changes for the Major Indices, WTD, MTD, QTD, YTD as of Friday's close: S&P Sectors for the Past Week: Major Indices Pullback/Correction Levels as of Friday's close: Major Indices Rally Levels as of Friday's close: Most Anticipated Earnings Releases for this week: Here are the upcoming IPO's for this week: Friday's Stock Analyst Upgrades & Downgrades:
Best and Worst Performers Since the COVID Crash Low The major indices have consistently been hitting new record highs over the past few days with the S&P 500 having now more than doubled off the COVID Crash low on March 23, 2020. As for individual stocks, there are currently only nine S&P 500 stocks that are below their levels from March 23, 2020, and expanding the universe to the S&P 1500 which includes small and mid-caps, there are currently 41 stocks that are below their levels from that date. Obviously, March 23, 2020 may not coincide with a particular high or low point on these individual stocks' charts, but declines since then would be quite painful to handle given that the broad market has more than doubled over the same time frame. As shown below, eHealth (EHTH) currently is the biggest decliner versus March 23, 2020 levels having fallen over 60% with a large share of that decline occurring this year. The only other stock that has been more than cut in half since the bear market low is Tabula Rasa HealthCare (STRA). TRHC has been declining since the spring, but a large share of that decline is actually occurring today after it reported an EPS and sales miss in addition to lowered guidance on earnings last night. Today, the stock has fallen nearly 50% in reaction to those weak earnings. There are a handful of stocks on this list that are up on a year-to-date basis with Fresh Del Monte Produce (FDP), Tootsie Roll Industries (TR), and Gilead Sciences (GILD) the only ones that are up double digits. While below their levels from the bear market low, TR and FDP are also two of the only stocks that are simultaneously above levels from February 19, 2020 which marked the last high prior to the start of COVID Crash bear market. As for the stocks that have gained the most since the COVID Crash low on 3/23/20, meme mania darling GameStop (GME) still tops the list having rallied 5,492%. That is twice the rally of the next best performer, SM Energy (SM). As for the rest of the top performers since the bear market low, there are another 15 that have gained over 1,000%. One of those is a member of the trillion-dollar market cap club: Tesla (TSLA). Another one of these top performers, Tupperware Brands (TUP), is also one of the only stocks that is actually lower on a year-to-date basis, and those declines are significant at a 43.81% loss. TUP got below $2/share at its lows during the COVID Crash, but then surged back into the mid-$30s in late 2020. It has since moved back down into the teens.
Rolling 10-Year Returns Suggest Modest Gains Ahead The chart above of the S&P 500 Daily Rolling 10-Year Returns Since 1940 indicates the rolling 10-year average return for the S&P 500 is 6.64% as of the close of October 2021. For the 10-year period ending on October 29, 2021 the average annualized return for the S&P 500 was 13.9%. The highest 10-year annualized return for the S&P 500 since 1940 was 17.2% in August 2000 just after the dotcom bubble burst. Recent 10-year annualized highs occurred in March 2019 at 15.1% and on October 1, 2021 at 14.8%. As you can see from the chart whenever the rolling annualized 10-year returns get into the 15-range the returns over the next 10 years are more modest and trend lower. Gains over the next 10 years are likely to be lower and more in line with the historical averages in the range of 6-9% per year.
Best Consecutive Three-Month Span Begins With November November maintains its status among the top performing months as fourth-quarter cash inflows from institutions drive November to lead the best consecutive three-month span November-January. However, the month has taken hits during bear markets and November 2000, down –22.9% (undecided election and a nascent bear), was NASDAQ's second worst month on record—only October 1987 was worse. November begins the "Best Six Months" for the DJIA and S&P 500, and the "Best Eight Months" for NASDAQ. Small caps come into favor during November, but don't really take off until the last two weeks of the year. November is the number-two DJIA (since 1950) and NASDAQ (since 1971) month. November is best for S&P 500 (since 1950), Russell 1000 (since 1979) and Russell 2000 (since 1979). Average performance in all years ranges from 1.7% by S&P 500 to a solid 2.5% by Russell 2000. In post-election years, November's market prowess is essentially unchanged. DJIA has advanced in 14 of the last 17 post-election years since 1953 with an average gain of 1.9%. DJIA has been up 11-straight post-election year Novembers. DJIA's last losing post-election year November was all the way back in 1973 (-14.0%, Arab oil embargo began 10/19/1973). S&P 500 has been up in 13 of the past 17 post-election years. Small caps perform well with Russell 2000 climbing in 8 of the past 10 post-election years, averaging 2.8%. The only real blemishes in the November post-election year record are 1969 (DJIA –5.1%) and 1973 (DJIA –14.0%, OPEC oil embargo).
Typical November Trading: Firm Beginning, Tepid Across Mid-Month, Rally to Close As the top month of the year for S&P 500 (since 1950), Russell 1000 and Russell 2000 (since 1979) and second best for DJIA (since 1950) and NASDAQ (since 1971), November has historically and frequently been a solid month for equity bulls. In the most recent 21-year period, average gains have even been improving for DJIA, S&P 500, Russell 1000 and Russell 2000. However, strength has not been evenly spread across the entire month. As you can see in the following seasonal chart based upon daily performance over the last 21-years, November has typically opened well with nice gains spanning the first four trading days. Following this move higher the major indexes have tended to trade sideways and modestly lower until the last seven trading days at which point, they have historically sprung back to life and surged higher to close out the month. If you missed our Seasonal MACD Buy signal in October and/or are looking for a dip to add to existing positions, November may provide that opportunity.
36,000 Reasons To Be Thankful The Dow Jones Industrial Average started trading more than 125 years ago and yesterday it closed above 36,000 for the first time ever. Along the way, the S&P 500, Nasdaq, and Russell 2000 (small caps) all closed at new all-time highs as well. "We understand all of the worries. Labor shortages, inflation, the pandemic, the Fed, Washington drama, supply chain bottlenecks, and a slowing economy," explained LPL Financial Chief Market Strategist Ryan Detrick. "But the other side of the coin is earnings have been really good and the stock market is looking forward to better times, not looking in the rear view mirror at the bad news." As shown in the LPL Chart of the Day, the Dow has hit five separate 1,000 level milestones in 2021, the most ever. Yes, the percentage between each level gets smaller higher you go, but this is still an amazing feat. What now? Well, the bull market looks poised to continue its run. In fact, when the S&P 500 is up more than 20% for the year heading into the seasonally bullish month of November, stocks have never been lower—higher all eight times. The returns get better as well, up 3.7% versus the average November return of 1.7%. Not to be outdone, the final two months of the year have been higher all eight times as well, up 6.2% versus the average final two months return of 3.2%. We're thankful for the strong stock market performance this year, but there may be more to come before year-end. We continue to expect stocks to outperform bonds and maintain our overweight to equities.
Historic Run For Consumer Discretionary Recently we have made note of the massive outperformance of the Consumer Discretionary sector. Prior to this week, the bulk of the gains were a result of the rise in Tesla (TSLA), but this week, breadth has significantly improved as we noted in yesterday's Sector Snapshot. With more stocks in the sector participating in the rally, price has continued to move higher. Yesterday marked one month from the recent low in price for the sector. Through yesterday's close, the sector had gained 16.11% over the last month. Moving higher yet again today as of this writing, the sector is now up 17.5% from the low. In the chart below, we show the rolling one-month performance of the sector going back to late 1989. As shown, the surge in the past month ranks in the top 1% of readings on record. It has been the largest one-month gain since April of last year when the sector was coming off of the bear market low. Prior to that, the only other period of the post-GFC era to have seen as large of a rally in one month's time was January 2019. With the sector having gone on a historic run over the past month, it begs the question of how much gas may be left in the tank. Historically, when the sector has gained at least 15% in a one-month span without having done so in the prior three months, forward returns have been in line to slightly below average, although they are also not outright negative with positive returns better than half the time. Several of these prior occurrences happened around the time of the Dot Com burst, and performance following those periods was broadly negative. This week the sector has also crossed above a 13% weighting in the S&P 500, overtaking Health Care as the second-largest sector in the index!
STOCK MARKET VIDEO: Stock Market Analysis Video for Week Ending November 5th, 2021 STOCK MARKET VIDEO: ShadowTrader Video Weekly 11.7.21 ([CLICK HERE FOR THE YOUTUBE VIDEO!]()) (VIDEO NOT YET POSTED.)
Here are the most notable companies (tickers) reporting earnings in this upcoming trading week ahead-
- (($TTD $AMC $PYPL $RBLX $CLOV $SPCE $LMND $NVTA $PLTR $WKHS $BNTX $NIO $FUBO $COIN $UPST $ACB $DASH $U $FVRR $DIS $WISH $SOFI $AFRM $BYND $OPEN $TTCF $SNDL $BLNK $RIDE $CPNG))
Below are some of the notable companies coming out with earnings releases this upcoming trading week ahead which includes the date/time of release & consensus estimates courtesy of Earnings Whispers:
Monday 11.8.21 Before Market Open: Monday 11.8.21 After Market Close:
Tuesday 11.9.21 Before Market Open: Tuesday 11.9.21 After Market Close:
Wednesday 11.10.21 Before Market Open: Wednesday 11.10.21 After Market Close:
Thursday 11.11.21 Before Market Open: Thursday 11.11.21 After Market Close:
Friday 11.12.21 Before Market Open:
Friday 11.12.21 After Market Close:
(T.B.A. THIS WEEKEND.) (T.B.A. THIS WEEKEND.) (T.B.A. THIS WEEKEND.).
DISCUSS! What are you all watching for in this upcoming trading week?
I hope you all have a wonderful weekend and a great trading week ahead r/StockMarket. :) submitted by /u/bigbear0083 [link] [comments] |
| $NXTP technologies bridge the physical and digital worlds @HotPlay_Games In the digital world Ads have their own uniqueness and application as compared to Ads in the physical world Posted: 05 Nov 2021 02:33 PM PDT |
| Here's Your Daily Market Brief For November 5th Posted: 05 Nov 2021 05:47 AM PDT 📰 Top News - S&P 500 Futures are +.25%; Dow Futures are +.13%; NASDAQ Futures are +.19%
- US stock futures move higher on better-than-expected payroll and unemployment data. Non-farm payrolls increased 531k vs 450k expected. The unemployment rate dropped to 4.6% vs 4.7% expected. Average hourly earnings, on the other hand, was in-line with expectations
- House Democrats are expected to vote on President Biden's spending package and infrastructure bill today. Note: After continued discussions late last night, it appears Democrats settled on last-minute changes around tax deductions and Medicare
- Cases of COVID resurgence are mixed around the world. Germany reported a record number of cases for the 2nd day in the row. Singapore, on the other hand, started to report decreasing numbers. Note: The US is expected to open its borders to European travelers next week. In the US, President Biden issued a federal rule that will mandate US companies, with at least 100 employees, to either submit to 1) weekly testing or 2) getting vaccinated
- New York, a city notorious for its strict crypto regulations, may see major changes on the horizon. New York City's mayor-elect, Eric Adams, announced he will take his first three paychecks in Bitcoin and said, "NYC is going to be the center of the cryptocurrency industry..."
🎯 Price Target Updates - Needham & Company LLC raised Airbnb ABNB price target from $200 to $210
- Citigroup raised Datadog DDOG price target from $188 to $225
- Wedbush lowered Peloton Interactive PTON price target from $90 to $66
📻 In Other News - Pfizer announced that its oral Covid pill, used in combination with another drug, reduces hospitalization or death by 89%
- The Bank of England votes to hold off increasing interest rates
- Peloton dropped over 30% after it reported a much worse-than-expected outlook
submitted by /u/hivincentc [link] [comments] |
| Graphite is Critical in the Growing Battery Market | New Investment Opportunities Posted: 05 Nov 2021 01:41 PM PDT The global increasing demand for batteries can be summarized by the following: In 2020 demand for batteries was 185 gigawatts per hour, in 2030 that's expected to be 2000 gigawatts per hour!! Clearly a lot of graphite, lithium, and other metals will be needed to fuel this type of aggressive growth. Ceylon Graphite is one company that is getting in front of the demand curve by mining graphite in Sri Lanka. https://youtu.be/fu-CciDvAeQ Companies like Tesla, GM, Ford, battery manufacturers, you name it will be looking for reliable sources of graphite to produce batteries for their growing amount products aimed at reducing emissions long term. The bull market case for graphite, lithium, and copper which has been taken for granted has never been stronger than it is now. Do you agree? What are you doing to capture the potential returns to be seen from this growth? submitted by /u/capex- [link] [comments] |
| (11/5) Friday's Pre-Market Stock Movers & News Posted: 05 Nov 2021 05:06 AM PDT Good Friday morning traders and investors of the r/StockMarket sub! Welcome to the final trading day of this week. Here are your pre-market movers & news this AM-
Stock futures rose slightly in morning trading Friday ahead of the highly anticipated October jobs report.
Futures on the Dow Jones Industrial Average rose 46 points, while S&P 500 futures gained 0.3% and Nasdaq 100 futures climbed 0.4%.
A major development in the fight against the pandemic boosted shares of Pfizer, which rose more than 9% premarket after the company said its Covid-19 drug, used with an HIV drug, cut the risk of hospitalization by 89%.
Investors are awaiting the release of October nonfarm payroll numbers Friday morning. Consensus estimates call for 450,000 jobs added, according to Dow Jones. September's report tallied 194,000 additional jobs, far short of the 500,000 estimate.
Friday's "payrolls numbers become even more significant, as it is the first full month of hiring following the expiration of federal enhanced unemployment benefits, while public health has simultaneously improved and labor demand has remained strong," Goldman Sachs' Chris Hussey wrote Thursday.
Peloton shares cratered more than 32% in premarket trading after the fitness platform and maker of interactive treadmills and exercise bikes reported a much larger loss than expected and cut its full-year outlook as fitness buffs headed back to the gym and away from at-home workouts.
The company also cited ongoing supply chain challenges for its "challenged visibility" over the near term that CEO John Foley said is causing the company to lower its expectations.
Recovery stock Expedia saw its shares roar higher by 11.6% premarket a day after the company said renewed travel demand boosted its top and bottom lines higher than analysts had expected.
Thursday's regular trading session saw the S&P 500 gain 0.4% to close at a record high in its sixth-straight winning day. The Nasdaq Composite notched its ninth consecutive positive session, rising 0.8% to a record close. The Dow bucked the trend and dipped 33.35 points.
The technology sector led the S&P 500, up 1.5% Thursday. Financials lagged with a 1.3% loss.
Market participants digested the Federal Reserve's plan to begin tapering its pandemic aid by the end of November, putting the central bank on track to end its asset purchase program by the middle of next year.
Investors also received a fresh labor market reading Thursday as first-time jobless claims totaled 269,000 last week, the lowest pandemic-era total and lower than expected.
All three major averages are on track to end the week higher. The Dow is up 0.9% on the week, while the S&P 500 is 1.6% higher and the Nasdaq Composite is up 2.9%.
STOCK FUTURES CURRENTLY:
YESTERDAY'S MARKET MAP:
TODAY'S MARKET MAP:
YESTERDAY'S S&P SECTORS:
TODAY'S S&P SECTORS:
TODAY'S ECONOMIC CALENDAR:
NEXT WEEK'S ECONOMIC CALENDAR:
NEXT WEEK'S UPCOMING IPO'S:
NEXT WEEK'S EARNINGS CALENDAR: ([CLICK HERE FOR NEXT WEEK'S EARNINGS CALENDAR!]()) (T.B.A. THIS WEEKEND.)
THIS MORNING'S PRE-MARKET EARNINGS CALENDAR: ($DKNG $CGC $XELA $GT $ENB $CNK $GOOS $MGA $D $NOG $AMCX $GRPN $JCI $KIM $HMC $INTT $AXL $FLR $ELAN $GLP $SSP $BEP $VST $TEN $FET $SRE $DSEY $ESNT $CNTY $PAYA $PNW $TRP $BBU $DOC $HE $HSON $NPO $TIXT $AMR $MFA $ECOL $TILE $OFS)
EARNINGS RELEASES BEFORE THE OPEN TODAY:
EARNINGS RELEASES AFTER THE CLOSE TODAY: ([CLICK HERE FOR THIS AFTERNOON'S EARNINGS RELEASES!]()) (NONE.)
YESTERDAY'S ANALYST UPGRADES/DOWNGRADES:
YESTERDAY'S INSIDER TRADING FILINGS:
TODAY'S DIVIDEND CALENDAR:
THIS MORNING'S MOST ACTIVE TRENDING TICKERS ON STOCKTWITS: - XYO.X
- VET.X
- NVDA
- DKNG
- PTON
- REV
- SAVA
- CRO.X
- NKLA
THIS MORNING'S STOCK NEWS MOVERS:
Pfizer (PFE) – The drug maker's shares surged 9.4% in premarket trading after a study showed that its experimental Covid-19 antiviral pill reduced the risk of hospitalization and death by nearly 90%. Pfizer said it will ask regulators to approve the pill as soon as possible. STOCK SYMBOL: PFE
Canada Goose (GOOS) – The outerwear maker reported an unexpected profit for its latest quarter along with better-than-expected revenue, and also raised its full-year forecast. Canada Goose also said it's seeing an indication of a strong winter season, and shares jumped 4.6% in the premarket. STOCK SYMBOL: GOOS
Live Nation Entertainment (LYV) – Live Nation shares rallied 5.4% in premarket action after the event promoter returned to profit amid a sales surge as live events returned. Results exceeded analyst estimates. STOCK SYMBOL: LYV
DraftKings (DKNG) – The sports betting company's stock slid 3.5% in the premarket after it reported a wider-than-expected loss and revenue that fell short of Street forecasts. DraftKings did raise the midpoint of its fiscal 2021 revenue guidance and said it expected a strong 2022. STOCK SYMBOL: DKNG
Canopy Growth (CGC) – The Canadian cannabis producer lost 3 cents per share for its latest quarter, smaller than the 20-cent loss expected by analysts. However, revenue fell short of estimates and the company flagged slower-than-expected revenue growth for the second half of fiscal 2022. The stock fell 3.5% in the premarket. STOCK SYMBOL: CGC
Peloton (PTON) – Peloton tumbled 31.8% in the premarket after the fitness equipment maker slashed its full-year sales forecast by $1 billion, amid slowing demand for bikes and treadmills. Peloton also reported a quarterly loss of $1.21 per share, wider than the $1.07 loss expected by analysts, and revenue fell short of estimates as well. STOCK SYMBOL: PTON
Expedia (EXPE) – Expedia earned an adjusted $3.53 per share for its latest quarter, well above the $1.65 consensus estimate. Revenue was also higher than expected, with the travel services company benefiting from the surge in travel demand. Expedia soared 13.2% in premarket trading. STOCK SYMBOL: EXPE
Airbnb (ABNB) – Airbnb rallied 6.2% in the premarket as the travel-demand surge lifted sales and earnings beyond Wall Street forecasts. Airbnb earned $1.22 per share for its latest quarter, beating the $0.75 consensus estimate, with sales coming in at a record high. The company also said it expects a strong holiday season. STOCK SYMBOL: ABNB
Uber Technologies (UBER) – Uber reported its first profitable quarter on an adjusted basis, thanks to upbeat performances by its ride-sharing and food delivery services. It did post an overall loss due to the drop in value of its stake in China ride-hailing company Didi (DIDI). Uber rose 1.2% in premarket trading. STOCK SYMBOL: UBER
Pinterest (PINS) – Pinterest came in 5 cents above estimates with an adjusted quarterly profit of 28 cents per share, and the image-sharing site operator's revenue also topped analyst forecasts. It is also predicting an upbeat current quarter as the online retailer spends more on holiday season ads. Pinterest jumped 4.5% in premarket action. STOCK SYMBOL: PINS
Shake Shack (SHAK) – Shake Shack reported a quarterly loss of 5 cents per share, 1 cent less than Wall Street had anticipated, but the restaurant chain's sales missed analyst forecasts. Despite the revenue miss, Shake Shack rallied 6.3% in the premarket. STOCK SYMBOL: SHAK
Square (SQ) -Square matched estimates with quarterly earnings of 37 cents per share, while the mobile payments company's revenue missed forecasts. Square did see a nearly 60% rise in profit from a year earlier, thanks in large part to a surge in bitcoin transactions, but the stock dropped 3.7% in premarket trading. STOCK SYMBOL: SQ
Lions Gate Entertainment (LGF) – The movie and tv studio is considering a sale or spin-off of its Starz premium cable channel, saying it sees the potential to unlock significant shareholder value. The stock surged 15.1% in the premarket. STOCK SYMBOL: LGF.A
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.
DISCUSS! What's on everyone's radar for today's trading day ahead here at r/StockMarket?
I hope you all have an excellent trading day ahead today on this Friday, November 5th, 2021! :) submitted by /u/bigbear0083 [link] [comments] |
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