US index futures are falling in Tuesday’s pre-market, with
investors digesting European indicators waiting for American
inflation, which will be released tomorrow and should give clues
about the Federal Reserve’s next steps.
At 7:01 AM, Dow Jones futures (DOWI:DJI) fell 46 points, or
0.13%. S&P 500 futures were down 0.14% and Nasdaq-100
futures were down 0.19%. The yield on the 10-year Treasury
note was at 4.29%.
On Tuesday’s United States economic agenda, investors await the
auction of ten-year Treasuries. Yesterday, the American
government invested US$44 billion in the three-year event, with a
cut rate of 4.66%. At 4:30 pm, API releases the weekly oil
stock report, which is expected to fall by 2 million barrels.
In September, the ZEW investor confidence index in Germany
exceeded expectations, registering a drop of 11.4 points, compared
to the forecast of 15 points. In the euro zone, the indicator
had a smaller drop than expected, of 8.20 points.
In the UK, the unemployment rate for July was 4.30%, as
predicted. This value was higher than in June, indicating an
increase in unemployment amid an economy pressured by
inflation.
Meanwhile, European markets await the interest rate decision by
the European Central Bank (ECB) on Thursday. Despite rising
inflation, the rate is likely to remain at 4.25% per year.
Asian markets had mixed results, reflecting new measures in
China after the financial regulator downplayed the risks of
insurers investing in shares. Country Garden, a leading
private Chinese construction company, has been granted permission
to defer payments on six bonds, sending its shares up more than
10%. This decision comes as investors watch the Chinese
government’s recent interventions in the real estate sector.
In the commodities market, West Texas Intermediate crude oil for
October rose 0.84% to US$88.02 per barrel. Brent oil for
November rose 0.71% to US$91.28 per barrel. Iron ore with a
concentration of 62% rose 1.96% to US$ 117.61.
At Monday’s close, stock markets posted gains as investors
awaited crucial economic information from the Federal
Reserve. The Dow Jones rose 87.13 points or 0.25% to 34,663.72
points. The S&P 500 rose 29.97 points or 0.67% to
4,487.46. The Nasdaq Composite jumped 156.37 points or 1.14%
to 13,917.89.
A recent NY Fed survey indicated that US inflation expectations
remained stable in August, but there was an increase in economic
concerns. This study negatively impacted expectations of
future interest rates. Stocks in Asia also revealed
developments that led to a depreciation of the dollar. The
Chinese Central Bank, PBOC, set a level for the Yuan above market
forecasts. Comments from Kazuo Ueda, president of the Japanese
Central Bank, led to speculation about a possible increase in
interest rates.
On Tuesday’s corporate earnings front, investors are watching
Cognyte’s (NASDAQ:CGNT) report. After the market closes,
results from Edgio (NASDAQ:EGIO), InnovAge (NASDAQ:INNV), Farmer
Bros (NASDAQ:FARM), Mama’s Creations (NASDAQ:MAMA), among others,
will be awaited.
Wall Street Corporate Highlights for Today
Apple (NASDAQ:AAPL) – For the first time,
the launched iPhone will be available immediately, made in
India. Apple intends to make the Indian iPhone 15 available at
global launch. This highlights India’s productive growth and
Apple’s diversification outside of China. The iPhone 15
promises to be the most significant update in three years, with
improvements to the camera system and a 3-nanometer processor in
the Pro models. This innovation aims to boost sales that were
falling.
Qualcomm (NASDAQ:QCOM) – Qualcomm on
Monday announced a deal to supply 5G chips
to Apple (NASDAQ:AAPL) by 2026,
strengthening the existing relationship. This suggests that
Apple won’t be releasing its own modem anytime soon. Qualcomm
and Apple shares rose 4% and 0.5% on Monday, respectively. The
previous agreement between the companies ends this year.
Microsoft (NASDAQ:MSFT) – Microsoft shares
have underperformed tech peers in recent weeks. However, Citi
Research predicts improvement in the coming months due to the
stabilization of the PC market, advancements in Azure and growth in
artificial intelligence. Citi maintained its Buy rating on
Microsoft, citing “a rich catalytic path ahead” through the end of
the year.
Amazon (NASDAQ:AMZN) – Amazon shares
closed at their highest in a year, rising 3.5% on Monday. UBS
analyst Lloyd Walmsley sees potential for growth in the company’s
retail margins. Additionally, the recent partnership with
Shopify (NYSE:SHOP) and changes to the Seller Fulfilled Prime
program are viewed positively. Amazon shares are up 70% so far
this year, outperforming the S&P 500 index.
Amazon (NASDAQ:AMZN), Occidental
Petroleum (NYSE:OXY) – Amazon is financing an
Occidental Petroleum project to capture carbon from the air,
offsetting emissions from its fleet. The company will purchase
250,000 metric tons of carbon removal from Oxy over 10
years. The initiative is part of Amazon’s efforts to achieve
zero carbon emissions by 2040.
Alphabet (NASDAQ:GOOGL) – Alphabet
registered a 0.4% drop in Tuesday’s pre-market as the anticipated
antitrust case begins in Washington, where the Department of
Justice accuses Google of an illegal monopoly in the search market
online. The trial is expected to last until mid-November.
Alibaba (NYSE:BABA) – Alibaba’s new CEO
Eddie Wu emphasized “user first” and “AI guidance” as strategic
focuses in an internal letter. Wu will promote young employees
to maintain a startup mentality. He will also lead Alibaba’s
cloud computing unit, targeting an IPO in 2024. The unit is crucial
to the company’s AI strategy.
Oracle (NYSE:ORCL) – Oracle
projected revenue below Wall Street expectations due to reduced
enterprise cloud spending, resulting in a 9.14% decline in
Tuesday’s premarket. As the company faces competition from
giants like Amazon and Microsoft, growth in AI adoption could boost
its cloud business. First-quarter revenue was $12.45 billion,
slightly below estimates of $12.47 billion. Excluding items,
it earned $1.19 per share, compared to estimates of $1.15.
Overstock.com (NASDAQ:OSTK) – Angela Hsu,
chief marketing officer at Overstock.com, resigned on September
6. President Dave Nielsen will assume his duties while the
company searches for a replacement. Hsu will become a
consultant, and her departure is not due to internal
disagreements.
Casey’s General Stores (NASDAQ:CASY) –
Casey’s General Stores reported first-quarter results that beat
estimates. Net profit was $169.2 million, with same-store
sales growing 5.4%. CEO Darren Rebelez attributed the success
to the company’s new pizzas. The company also plans to acquire
125 stores, including 63 from EG Group.
Avantax Inc (NASDAQ:AVTA) – Cetera
Holdings will acquire Avantax for about $1.2 billion. Avantax
shareholders will receive $26 per share, a 30% premium to the
recent price. Mike Durbin, CEO of Cetera, valued Avantax’s tax
expertise. The acquisition reinforces the trend of
consolidation in the wealth management sector. Cetera will
maintain Avantax as an independent unit and is backed by private
equity firm Genstar Capital Partners.
Magellan Midstream
Parters (NYSE:MMP), Oneok
Inc (NYSE:OKE) – Oneok is expected to buy Magellan
Midstream for US$19 billion after support from consultancies Glass
Lewis and Institutional Shareholder Services (ISS). Voting
will take place on September 21st. Tax concerns for Magellan
holders have arisen, but Magellan defends the benefits of the
transaction.
WestRock (NYSE:WRK) – WestRock rose 6.6%
in Tuesday’s pre-market after signing an acquisition agreement with
Dublin-based Smurfit Kappa, forming a paper and packaging company
valued at around $20 billion. Under the deal, WestRock
shareholders will receive one new share of Smurfit WestRock and $5
in cash, for a total of $43.51 per share. After the merger,
Smurfit Kappa shareholders will own 50.4% of the combined company,
while WestRock will own the remainder. Shares
in Smurfit Kappa (LSE:SKG) in London
fell 9.4%.
Bank of America (NYSE:BAC) – Investment
banking fees fell 30% to 35% in the third quarter compared to the
previous year. However, Bank of America expects to surpass
that average, with fees approaching $1 billion, said CFO Alastair
Borthwick. Analysts believe this could put pressure on the
bank’s profit estimate. In the previous quarter, BofA recorded
fees of US$1.2 billion, increasing the profit of its banking
unit.
Goldman Sachs (NYSE:GS) – The Dutch
financial regulator revealed that Goldman Sachs had a short
position in Philips (NYSE:PHG),
offsetting a previously announced position. This occurred
during a review of Exor NV’s acquisition of 15% of
Philips. There are discussions about the need for new
guidelines for rapid acquisitions in listed companies. In
other news, Ericka Leslie has been named by Goldman Sachs as head
of global banking and markets, leaving just two women in the
executive group. Diversity in executive positions on Wall
Street is still a challenge, with few women in prominent
positions. Leslie will replace Will Bousquette, who will take
on another division.
JPMorgan Chase (NYSE:JPM) – Jamie Dimon,
CEO of JPMorgan Chase, criticized stricter regulatory proposals in
the US, considering them an obstacle to economic growth. At a
conference in New York, Dimon expressed disappointment and called
for transparency from regulators. Furthermore, he expressed
caution regarding the Chinese market and the global economy, citing
future uncertainties and risks.
HSBC Holdings (NYSE:HSBC) – HSBC will
increase mortgage rates in Hong Kong due to rising interest rates,
rising from 3.625% to up to 4.125% from 18 September. This
negatively impacted the shares of local real estate developers.
Nubank (NYSE:NU) – Nubank shares in the US
jumped on Monday after JPMorgan reclassified the company from
“Neutral” to “Overweight”. JPMorgan indicated in a statement
that it sees Nubank expanding its market share in Brazil in the
coming years and considers the current moment as a good entry
opportunity, after a recent share devaluation.
KKR and Company (NYSE:KKR) – USI Insurance
announced that KKR will invest more than $1 billion, becoming the
main shareholder. KKR and USI will acquire USI shares from the
CDPQ fund and other investors. CDPQ and KKR purchased USI in
2017 for $4.3 billion.
Globalfoundries (NASDAQ:GFS) –
Globalfoundries has opened a US$4 billion manufacturing facility in
Singapore, expanding its global production. This facility will
produce 450,000 300mm wafers annually by 2026 and generate 1,000
jobs. This expansion aims to meet the growing demand for
chips, especially with partners such as Qualcomm and Apple.
Ecopetrol (NYSE:EC) – The Colombian
government is considering making the participation of the
state-owned company Ecopetrol mandatory in all offshore wind
projects. The proposal is being consulted with companies
interested in Colombia’s first offshore wind energy
auction. The review aims to reinforce energy self-sufficiency
and move away from dependence on fossil fuels. Ecopetrol’s
involvement would minimize risks in new projects, despite its
participation being potentially minimal. The bidding round is
delayed due to regulatory and leadership changes at the Ministry of
Mines and Energy.
AerCap Holdings
NV (NYSE:AER), General
Electric (NYSE:GE) – The General Electric unit plans
to sell a $2.44 billion stake in AerCap Holdings. The sale
involves 40.7 million shares at US$59 each. The offering
increased from the 32.4 million shares initially announced,
following GE’s earlier sale of 18 million shares.
Jetblue (NASDAQ:JBLU) – JetBlue has agreed
to sell all of Spirit Airlines’ assets at Boston and Newark
airports to Allegiant (NASDAQ:ALGT) to
gain approval for the acquisition
of Spirit (NYSE:SAVE). This deal
faced opposition, with the Department of Justice and other state
prosecutors claiming it would harm consumers.
Boeing (NYSE:BA) – VietJet announced that
it will receive 12 737 MAX jets from Boeing in 2023, part of an
order for 200 planes. Initial delivery will be to its
subsidiary in Thailand. Additionally, VietJet entered into a
$550 million financing agreement with Carlyle Aviation
Partners.
RTX Corp (NYSE:RTX) – Shares of RTX Corp,
parent company of Pratt & Whitney, fell after charging $3
billion and announcing possible groundings of Airbus jets to check
rare faults. After discovering a defect in engine components,
RTX expanded inspections, affecting up to 700 Airbus A320neo
engines between 2023 and 2026. This could ground up to 650 jets in
2024.
United Parcel Service (NYSE:UPS) – UPS
revealed a new five-year contract for 340,000 U.S. workers,
increasing wage and benefit costs by 3.3% annually. The
agreement, valid until July 2028, will have an additional US$500
million impact on costs in 2023.
Tesla (NASDAQ:TSLA) – Tesla and its
suppliers plan to invest US$15 billion in a factory in Mexico,
tripling the initially announced amount. CEO Elon Musk had
revealed plans for a gigafactory in Nuevo León, aiming to expand
Tesla’s global presence.
Charter
Communications (NASDAQ:CHTR), Walt Disney (NYSE:DIS)
– Walt Disney and Charter Communications have agreed to bring
Disney networks, including ESPN, back to Spectrum cable, hours
before NFL “Monday Night Football.” This deal aims to combat
the cord-cutting trend and expand Disney streaming. The
previous dispute deprived 15 million Spectrum subscribers of
sporting events. The new deal offers ad-supported Disney+ to
Spectrum subscribers and maintains essential cable revenue for
Disney.
DraftKings (NASDAQ:DKNG) – DraftKings has
apologized for launching a 9/11-themed sports betting
promotion. The offer involved teams from New York and was
titled “Never Forget”, coinciding with the 22nd anniversary of the
2001 terrorist attacks. Critics considered the act insensitive.
Nike (NYSE:NKE) – Investors are asking
Nike to pay textile workers in Cambodia and Thailand who would have
lost wages due to Covid-19. They want Nike to pay $2.2 million
to more than 4,000 workers. Nike denies the allegations,
saying it has no ties to the factories since 2006. Pressure is
mounting ahead of Nike’s annual shareholder meeting, with a focus
on supply chain scrutiny.
Acelyrin (NASDAQ:SLRN) – Los Angeles
pharmaceutical company Acelyrin fell 55.2% in premarket Tuesday
after announcing that in week 16 of a Phase 2b/3 trial, its drug
candidate for skin treatment did not reach statistical
significance.
AstraZeneca (NASDAQ:AZN) – After a drop in
AstraZeneca shares on Monday and rumors about the departure of CEO
Pascal Soriot, the company responded that it does not comment on
market rumors, reinforcing regulatory obligations to announce
significant impacts on shares. Additionally, AstraZeneca
released data from the FLAURA2 trial that combined the Tagrisso
drug with chemotherapy to treat lung cancer, setting a higher
standard for rival Johnson &
Johnson (NYSE:JNJ). The results indicated a 38%
reduction in the risk of disease progression when adding
chemotherapy.
Moderna (NASDAQ:MRNA) – Moderna revealed
on Monday a partnership with German company Immatics to advance the
development of cancer vaccines. As part of the deal, Moderna
will pay Immatics $120 million up front.
26 Capital Acquisition Corp (NASDAQ:ADER)
– A Delaware judge’s ruling exposed fraud at SPAC 26 Capital
Acquisition Corp. SPAC sponsor Jason Ader and consultant Alex
Eiseman conspired in a secret deal benefiting the SPAC. Casino
owner Universal Entertainment Corp. called off the
merger. Ader and Eiseman deny wrongdoing. SEC has proposed
rules for SPAC sponsors to avoid such conflicts.
Bank of America (NYSE:BAC)
Gráfico Histórico do Ativo
De Nov 2024 até Dez 2024
Bank of America (NYSE:BAC)
Gráfico Histórico do Ativo
De Dez 2023 até Dez 2024