U.S. index futures are falling this Friday, reacting to the
latest quarterly reports from corporate giants, notably
Apple (NASDAQ:AAPL). Concurrently, investors are
digesting a slew of economic indicators from Europe, adding layers
of complexity to the global financial landscape. This cautious
anticipation comes ahead of the release of the much-awaited U.S.
jobs report.
As of 07:02 AM, Dow Jones futures (DOWI:DJI) fell 14 points, or
0.04%. S&P 500 futures were down 0.19%, and Nasdaq-100 futures
fell 0.39%. The 10-year Treasury yield stood at 4.66%.
In the commodities market, West Texas Intermediate crude for
December rose 0.21% to $82.63 per barrel. Brent crude for December
went up 0.02% to around $86.94 per barrel. Iron ore with a 62%
concentration, traded on the Dalian exchange, rose 0.43%, priced at
$126.23 per ton.
In Friday’s economic agenda, the financial market turns its
attention to the release of Non-Farm Payroll data at 08:30 AM, a
key indicator that will refine expectations about the interest rate
policy of the U.S. economy. Amid the intense monetary tightening
cycle conducted by the Federal Reserve to combat inflation, there
is a forecast for a moderation in job creation for October in the
U.S. Estimates indicate an increase of 180,000 new jobs, a slowdown
compared to the 336,000 jobs created in September, with the
unemployment rate expected to remain stable at 3.8%.
Shortly thereafter, at 09:45 AM, S&P Global will release the
final composite and services PMI indices for October. Predictions
point to a performance below the 50-point mark for both, indicating
contraction. At 10 AM, ISM will present its services PMI, providing
another perspective on the sector. Later, at 1 PM, the energy
industry will be in the spotlight as Baker Hughes reports the
weekly rig count.
Rounding out the schedule, Federal Reserve Vice Chair for
Supervision, Michael Barr, will take the stage for two significant
speeches. The first is scheduled for 8 AM, with expectations of
commentary on monetary and regulatory policies, while the second,
slated for 3:30 PM, may offer further insights into the central
bank’s view in light of recent economic data and global financial
health.
In the Middle East, Israel is intensifying attacks in Gaza,
raising international concerns over Palestinian civilian
casualties. U.S. Secretary of State Antony Blinken is in Tel Aviv
to advocate for humanitarian ceasefires after Israel encircled
Gaza’s largest city.
In Asia, markets gained following Wall Street’s optimism,
influenced by stable U.S. interest rates and growth in China’s
services PMI.
In Europe, after the Bank of England decided to maintain
interest rates at 5.25%, markets responded positively to the German
trade surplus of 16.30 billion euros and digested the eurozone’s
unemployment rate of 6.50% in September, while the UK reported a
contraction in final activities.
U.S. stock markets rose sharply in Thursday’s session due to
optimism about interest rates after the Federal Reserve kept rates
steady, suggesting the cycle of increases might have ended.
Declines in Treasury yields and economic data, such as the
unexpected rise in unemployment claims, boosted investor
confidence. The Dow Jones jumped 564.50 points or 1.70% to
33,839.08. The S&P 500 gained 79.92 points or 1.89% to
4,317.78. The Nasdaq Composite rose 232.72 points or 1.78% to
13,294.19.
On Friday’s corporate earnings front, investors will be watching
reports from fuboTV (NYSE:FUBO),
Enbridge (NYSE:ENB), Cinemark
(NYSE:CNK), Cardinal Health (NYSE:CAH),
Bloomin’ Brands (NASDAQ:BLMN), EOG
Resources (NYSE:EOG), among others.
Wall Street Corporate Highlights for Today
Amazon (NASDAQ:AMZN) – Amazon used
anti-competitive tactics to harm Walmart
(NYSE:WMT) when it entered the e-commerce market, according to the
FTC. Amazon removed offers from sellers from the Buy Box if buyers
found lower prices on Walmart.
Jet.com, acquired by Walmart, was
a threat.
Target (NYSE:TGT) – Target is witnessing a
reduction in consumer spending, even on essential products, due to
higher prices and household debt, according to CEO Brian Cornell.
The company is taking a cautious approach for the second half.
Starbucks (NASDAQ:SBUX) –
Starbucks plans to expand to 55,000 stores
worldwide by 2030, including new formats in the US for pickup and
drive-through. The company aims to save $3 billion in three years,
increase employee benefits, and expand reward partnerships. After a
strong quarterly performance, Starbucks continues
to focus on growth.
Micron (NASDAQ:MU) – The Chinese Minister of
Commerce welcomed Micron Technology, encouraging
its expansion in the Chinese market. This openness reflects an
improvement in China-US relations, despite past tensions, as
leaders plan a summit meeting soon.
Intel (NASDAQ:INTC) – Intel‘s
CEO, Pat Gelsinger, purchased nearly $250,000 worth of company
stock on Wednesday. He bought 3,400 shares at an average price of
$36.79 and 3,375 shares at an average price of $36.82 through a
Gelsinger family fund. He now owns 25,475 shares of
Intel.
PayPal (NASDAQ:PYPL) – PayPal
gained nearly $4 billion in market value after committing to become
more efficient and enthusiastic, despite an SEC subpoena related to
its stablecoin. Shares rose nearly 7%, closing at $55.06 on
Thursday, due to an optimistic earnings forecast for the year and
cost-cutting plans under the new CEO, Alex Chriss.
PayPal also named Archie Deskus as Chief
Technology Officer.
Palantir (NYSE:PLTR) –
Palantir indicated that its artificial
intelligence offerings would drive growth in the last quarter of
2023, following its fourth consecutive quarterly profit due to
increasing demand for its data analysis services. The company
expects revenue of $599-603 million in the fourth quarter. Its
shares rose on Thursday, and Palantir is now
eligible for inclusion in the S&P 500.
Vodafone (NASDAQ:VOD) – The merger of
Vodafone and CK Hutchison, valued at $19 billion
in the UK, does not raise competition concerns for the EU. The
companies sought EU approval to create the UK’s largest mobile
operator. The European Commission is reviewing the agreement
through a simplified procedure.
WeWork (NYSE:WE) – WeWork‘s
challenges are affecting global business centers, putting pressure
on investors looking to refinance expensive mortgages. The pandemic
reduced demand for flexible spaces, and an increase in office
supply is expected to harm rents in key cities. Investors face
uncertainties and potential asset revaluations in 2024.
Uber (NYSE:UBER), Lyft
(NASDAQ:LYFT) – Uber and Lyft
have agreed to pay $328 million to settle allegations of
underestimating earnings and benefits for drivers in New York. The
agreement includes guarantees of minimum hourly rates and paid sick
leave. Both companies denied wrongdoing and consider the agreement
a win for drivers.
Stellantis (NYSE:STLA) –
Stellantis has agreed to build a $3.2 billion
battery plant and invest $1.5 billion in a new truck factory in
Illinois under a tentative deal with the UAW union, including a 25%
wage increase and other benefits through 2028.
Toyota (NYSE:TM), Tesla
(NASDAQ:TSLA) – The United Auto Workers (UAW) plans to extend its
unionization efforts to non-unionized automakers, including
Toyota and Tesla, after favorable
agreements with the “Detroit Three.” The union seeks to increase
its influence despite historical challenges in non-unionized
factories.
Tesla (NASDAQ:TSLA) – Tesla
delivered 72,115 electric vehicles in China in October, a 2.6%
decrease from the previous month. While sales of Model 3 and Y
increased by 0.6% year-over-year, Chinese rival
BYD (USOTC:BYDDY) delivered 301,095 passenger
vehicles, marking a 5% increase from September and a 38.4% increase
from the same month last year.
Ford Motor (NYSE:F) – Ford
experienced a drop in vehicle sales in the US in October, including
its F-Series pickups, following a labor strike. Total sales fell by
5.3%, with F-Series pickup sales declining by 5.1%. Electric
vehicle sales increased by 9.1%.
Nikola (NASDAQ:NKLA) – Nikola
received 277 non-binding orders for hydrogen fuel cell trucks,
despite recent challenges, including battery fires. Orders exceed
production capacity, with deliveries scheduled for the second
quarter of 2024. The company has faced losses and recall costs,
affecting its financial projections.
Boeing (NYSE:BA) – Boeing is
investigating a cyber incident that affected its parts and
distribution operations following a ransomware threat by the
Lockbit group. The company is cooperating with authorities and has
assured that flight safety was not compromised. It is unclear which
data was compromised.
Chevron (NYSE:CVX) – Chevron
is in talks to supply liquefied natural gas (LNG) to Europe for up
to 15 years as the region seeks long-term energy supply due to
disruptions in Russian gas exports. European buyers are seeking
medium and long-term agreements, shifting away from short-term
deals. Europe has increased its LNG imports following the
disruption of Russian gas exports.
Bunge Global (NYSE:BG) – Bunge
has sought regulatory approvals in various jurisdictions for its
$34 billion merger with Viterra. It has obtained approvals in
smaller markets such as Colombia so far. Bunge
expects to complete the deal by mid-2024, subject to closing
conditions and regulatory approval.
Novo Nordisk (NYSE:NVO), Eli
Lilly (NYSE:LLY) – Novo Nordisk and
Eli Lilly anticipate substantial sales of their
diabetes and weight loss medications in the coming years, limited
only by availability. The success of these medications has
positively affected their stocks but has also impacted healthcare
and food companies. Both companies face challenges in meeting the
growing demand for their medications.
Moderna (NASDAQ:MRNA) –
Moderna has lowered its revenue projections for
2023, now expecting to reach only the lower end of its $6 billion
to $8 billion estimate due to reduced demand for COVID-19 vaccines.
The company’s stock fell in response.
Beyond Meat (NASDAQ:BYND) – Beyond
Meat has lowered its annual revenue forecast due to
competition and inflation, implementing job cuts and revising
operations to save money. The projected net revenue for 2023 has
been adjusted to $330-340 million compared to the previous
forecast.
MGM Resorts International (NYSE:MGM),
Caesars Entertainment (NASDAQ:CZR), Wynn
Resorts (NASDAQ:WYNN) – Approximately 35,000 Las Vegas
hospitality workers plan to strike on November 10 against casino
and resort operators if a labor agreement is not reached by then.
The strike, supported by culinary and bartender worker unions,
reflects the demand for better wages and benefits amid record
industry profits. The union demands salary increases, protection
against automation, and better working conditions.
Cedar Fair (NYSE:FUN), Six Flags
Entertainment (NYSE:SIX) – Cedar Fair and
Six Flags Entertainment have agreed to merge to
boost the post-COVID-19 recovery of US amusement park operators.
The combined company encompasses various properties with characters
like Snoopy and Batman, creating a nationwide network of appealing
passes for visitors.
Goldman Sachs (NYSE:GS) – Goldman
Sachs will promote 608 executives to managing directors
next year, fewer than two years ago, reflecting recent departures
of senior staff and job cuts. Racial and ethnic representation
varied, with progress in gender and Asian representation but a
decrease in Black and Latino representation. The company emphasized
its ongoing commitment to diversity.
Wells Fargo (NYSE:WFC) – The SEC is
investigating Wells Fargo‘s cash sweep options, a
feature for investment advisory clients, amid ongoing compliance
concerns after previous scandals. The bank faces regulatory
oversight and a series of consent orders.
Bank of America (NYSE:BAC) – Bank of
America predicts a recovery in the S&P 500 by year-end
due to technical factors, including the Bull & Bear Indicator
signaling a positive change. However, the bank warns that
expectations of a major rally are high. Other indicators also
indicate buying opportunities.
Truist Financial (NYSE:TFC) –
Truist is pricing a $1.75 billion bond offering
with strong demand. The notes, maturing on October 30, 2029, are
expected to be priced about 225 basis points above the 5-year
Treasury yield. The offering attracted approximately $8 billion in
orders, reflecting robust demand.
Earnings
Apple (NASDAQ:AAPL) – The iPhone manufacturer
saw its stock decline by 3.4% in pre-market trading on Friday after
reporting its fourth consecutive quarter of declining total sales
and offering a discouraging revenue projection for the December
quarter. Apple exceeded earnings per share
forecasts. Revenue in the fiscal fourth quarter reached $89.50
billion, slightly above analysts’ expectations polled by LSEG,
which estimated $89.28 billion.
Paramount (NASDAQ:PARA) – Media group’s stock
registered a 10.4% increase in pre-market trading after announcing
adjusted earnings of 30 cents per share with revenue of $7.13
billion, surpassing analysts’ expectations polled by LSEG, which
estimated earnings of 10 cents per share and revenue of $7.10
billion.
Block (NYSE:SQ) – Block‘s
stock saw a 7.4% increase in pre-market trading after delivering a
beat on third-quarter earnings. The payment services company
reported adjusted earnings of 55 cents per share on revenues of
$5.62 billion, exceeding analysts’ estimates polled by LSEG, which
projected 47 cents per share and $5.44 billion in revenue.
Additionally, Block revised its full-year
operating profit projections upward.
Coinbase Global (NASDAQ:COIN) –
Coinbase exceeded expectations with
higher-than-expected revenue in the last quarter, although trading
volumes declined. The company reported a net loss of $2 million in
the third quarter, compared to a loss of $545 million the previous
year. Revenue increased to $674 million, while analysts estimated
$651 million. The stock fell by approximately 3.9% in pre-market
trading.
Fortinet (NASDAQ:FTNT) – The cybersecurity
company’s stock reversed an 18% decline and is up 0.5% in
pre-market trading. Fortinet expects its
fourth-quarter revenues to be in the range of $1.38 billion to
$1.44 billion, below Wall Street expectations of $1.5 billion, as
indicated by LSEG. In the third quarter, Fortinet
reported revenue of $1.33 billion, falling short of analysts’
estimates of $1.35 billion.
Cloudflare (NYSE:NET) –
Cloudflare‘s stock rose nearly 3% after the
release of third-quarter results, which exceeded revenue
expectations. The company reported a net loss and an increase in
revenue. For the fourth quarter, the company projected revenues of
$352 million to $353 million and 12 cents in adjusted earnings per
share, which fell below analysts’ expectations.
Live Nation Entertainment (NYSE:LYV) – The
ticket provider saw an increase of almost 3% in its stock in
pre-market trading after releasing third-quarter financial results.
Live Nation announced earnings per share of $1.78
with revenue of $8.15 billion, surpassing the expectations of
analysts at LSEG, who predicted earnings of $1.27 per share and
revenue of $6.99 billion.
DraftKings (NASDAQ:DKNG) – The sports betting
company’s stock increased by 7% in pre-market trading.
DraftKings raised its revenue projections for
2023, expecting a range of $3.67 billion to $3.72 billion,
surpassing analysts’ expectations polled by LSEG, which estimated
$3.55 billion. Additionally, the company announced that it expects
revenues in 2024 to range between $4.5 billion and $4.8 billion,
compared to previous estimates of $4.31 billion.
Expedia (NASDAQ:EXPE) –
Expedia‘s stock increased by 1.68% in pre-market
trading after beating revenue and earnings projections in the third
quarter. The company achieved adjusted earnings of $5.41 per share
and revenue of $3.93 billion, surpassing analysts’ estimates, which
predicted $4.93 per share and $3.86 billion in revenue.
Booking Holdings (NASDAQ:BKNG) –
Booking Holdings reported quarterly results that
exceeded expectations but mentioned that the conflict between
Israel and Hamas was affecting travel demand.
Bill Holdings (NYSE:BILL) – Bill
Holdings‘ stock fell by 34.2% in pre-market trading due to
a forecast below expectations for the second fiscal quarter and a
reduction in the full-year revenue outlook. The company anticipates
revenues of $293-303 million and earnings of 35-44 cents per share
for the second quarter, while Wall Street expected $319 million in
revenue and earnings of 48 cents per share.
Insulet (NASDAQ:PODD) – The stock is up 1.98%
in pre-market trading after surpassing earnings and revenue
projections in the third quarter. Revenue reached $432.7 million,
exceeding the expectations of analysts polled by FactSet, who
estimated revenue of $414.3 million.
Floor & Decor Holdings (NYSE:FND) – The
flooring retailer saw its stock rise by 2.42% in pre-market trading
despite falling short of revenue projections in the third quarter.
The company reported earnings per share of 61 cents and revenue of
$1.11 billion, while analysts polled by FactSet expected 56 cents
per share and revenue of $1.12 billion.
Shell (NYSE:SHEL) – Shell
reported a 34% year-over-year drop in third-quarter profit,
reaching $6.2 billion, due to declining energy prices and
operational issues in its LNG division. The company announced share
buybacks of $3.5 billion and maintained its dividend unchanged.
Carvana (NYSE:CVNA) – The used car sales
company’s stock increased by 15.12% in pre-market trading after the
company announced its expectation to achieve total gross profit per
unit for the second consecutive year until 2024.
Carvana reported revenue of $2.77 billion in the
third quarter, slightly below analysts’ estimates of $2.78 billion,
as pointed out by LSEG.
Ferrari (NYSE:RACE) – Ferrari
revealed on Thursday that its order book is growing through 2025,
including its first fully electric vehicle planned for release in
the last quarter of 2025. Its quarterly profit exceeded estimates,
driven by ongoing demand and customizations. The company raised its
profit forecast for this year.
Trupanion (NASDAQ:TRUP) – The pet health
insurance company saw an 11.8% increase in pre-market trading,
driven by its third-quarter revenue reaching $285.9 million,
surpassing analysts’ estimates of $275 million. Additionally,
adjusted EBITDA reached $6.1 million, exceeding the estimated loss
of $0.6 million, according to FactSet.
Regeneron Pharmaceuticals (NASDAQ:REGN) –
Regeneron Pharmaceuticals is experiencing strong
initial demand for its higher-dose eye medication Eylea. This could
boost the treatment, surpassing Roche’s Vabysmo competition, even
though Eylea sales declined by 11% in the third quarter. The
company exceeded third
Uber Technologies (NYSE:UBER)
Gráfico Histórico do Ativo
De Abr 2024 até Mai 2024
Uber Technologies (NYSE:UBER)
Gráfico Histórico do Ativo
De Mai 2023 até Mai 2024