U.S. index futures are slightly up in Wednesday’s pre-market,
with investors awaiting new employment data, and the Dow and
S&P 500 recovering part of the drop from the last two days.
At 5:53 AM, Dow Jones futures (DOWI:DJI) rose 47 points, or
0.13%. S&P 500 futures rose 0.26% and Nasdaq-100 futures
increased by 0.37%. The 10-year Treasury bond yield was at
4.197%.
In the commodities market, West Texas Intermediate crude oil for
January fell 0.68% to $71.83 per barrel. Brent crude for February
dropped 0.60%, close to $76.76 per barrel. Iron ore with a 62%
concentration traded on the Dalian exchange rose 2.76% to $131.08
per ton.
On this Wednesday’s economic agenda, investors are following the
November private sector employment report at 08:15 AM. At 08:30 AM,
the October trade balance and third quarter labor costs will be
released. At 10:30 AM, oil inventory data will be announced.
European markets opened higher, recovering from mixed
negotiations. There are expectations of cuts in European Central
Bank rates next year. In Asia, most markets closed higher. In
Shanghai, there were minor losses after Moody’s downgraded China’s
outlook. In Tokyo, the market advanced 2% with bargain hunting.
Hong Kong rose, driven by stock buyback plans, like Swire
Pacific’s, which appreciated 17%.
U.S. stocks did not show a clear direction on Tuesday and closed
with mixed results: the Dow Jones fell 0.22%, the S&P 500
retreated 0.06%, and the Nasdaq rose 0.31%. Initial volatility
reflected concerns about excessive optimism regarding interest
rates, while a report from the Department of Labor highlighted an
unexpectedly sharp drop in job openings in October. These events
impacted sectors like oil and gold, but the software and retail
market showed some strength.
In Tuesday’s corporate earnings front, investors will be
watching before the market opens for reports from
Ollie’s (NASDAQ:OLLI), Lovesac
(NASDAQ:LOVE), Campbell’s Soup Company (NYSE:CPB),
Vera Bradley (NASDAQ:VRA), and more. After the
close, reports from C3.AI (NYSE:AI),
GameStop (NYSE:GME), Chewy
(NYSE:CHWY), ChargePoint (NYSE:CHPT),
Oxford (NYSE:OXM), Sprinklr
(NYSE:CXM), among others, are awaited.
Wall Street Corporate Highlights for Today
Apple (NASDAQ:AAPL) – Apple reached a market
capitalization of $3 trillion for the first time in four months,
with its shares closing up 2.1% on Tuesday. While it performed well
in 2023, its growth has not been as notable as other major tech
companies. In addition, Apple has requested an exemption or delay
in implementing the EU’s universal charging port rule from India,
arguing it would affect its local production targets. India plans
to implement this rule by June 2025. On Wednesday, Apple informed
component suppliers of its intention to procure batteries for the
upcoming iPhone 16 from production facilities in India, according
to the Financial Times.
Amazon (NASDAQ:AMZN) – Amazon’s streaming unit,
Twitch, will end operations in South Korea in February due to high
costs and network fees. CEO Dan Clancy mentioned significant losses
and unsustainable operational costs. The debate over network fees
pitted global tech giants against local providers. In 2022, Twitch
limited video resolution in South Korea and laid off more than 400
employees following unsatisfactory results. Moreover, Amazon is
cutting fees for apparel sellers priced below $20, aiming to
compete with China’s Shein. The move aims to attract affordable
fashion sellers and address new competitors. Amazon must also
ensure fair treatment for rival robotic vacuums on its online
marketplace to secure approval for the acquisition of
iRobot (NASDAQ:IRBT). The European Commission
issued a statement of objections due to antitrust concerns.
Microsoft (NASDAQ:MSFT) – Amazon (NASDAQ:AMZN)
accused Microsoft of restrictive business practices in the cloud
computing market, during a British antitrust investigation. Amazon
claims Microsoft’s changes to service terms make it harder for
customers to choose other cloud providers. Google (NASDAQ:GOOGL)
also expressed similar concerns. Microsoft states that the market
remains competitive. In other news, Shanghai authorities expressed
their desire for Microsoft to promote artificial intelligence
technology to boost business in the region, during a meeting with
the company’s president and vice president, Brad Smith. Shanghai is
also open to Microsoft’s collaboration in studying governance
frameworks and standards related to technology.
Nvidia (NASDAQ:NVDA) – Nvidia is collaborating
with the U.S. government to supply new chips to the Chinese market,
in compliance with export restrictions. The company holds over 90%
of China’s AI chip market, but restrictions may create
opportunities for Chinese competitors. Nvidia expects a drop in
fourth-quarter sales in China due to the new U.S. rules and is
discussing investments in Singapore and collaboration in AI.
Box (NYSE:BOX) – The cloud company’s shares
fell 13% in Wednesday’s pre-market after announcing adjusted
earnings of 36 cents per share and revenues of $261.5 million in
the fiscal third quarter. This fell short of FactSet analysts’
estimates, who expected 38 cents per share and revenue of $262.4
million.
MongoDB (NASDAQ:MDB) – The database company’s
shares decreased by 3.6% in Wednesday’s pre-market, despite MongoDB
beating analysts’ earnings predictions for the third quarter.
MongoDB’s adjusted earnings reached 96 cents per share, surpassing
the expectations of 50 cents per share by analysts consulted by
LSEG. The company also reported revenue of $433 million, surpassing
the expectations of $404 million.
SentinelOne (NYSE:S) – The cybersecurity
company SentinelOne exceeded Wall Street’s estimates for the third
quarter and raised its annual revenue projections, due to growing
demand for security solutions amid inflation and interest rates.
The company also launched its Purple AI program and reported an
increase in revenue and customer base, boosting its shares by
nearly 18% in Wednesday’s pre-market. SentinelOne reported revenue
of $164.2 million in the three months ending October 31, a 42%
increase from the previous year, beating the estimates of $156.1
million.
C3.ai (NYSE:AI) – Shares of C3.ai rose 170%
this year, but doubts emerged about its growth after revising
earnings projections. The company plans to invest in its generative
AI solutions and does not expect to be profitable in the fourth
quarter of 2024. Fiscal second-quarter results will be announced
soon, with revenue forecasts between $72.5 million and $76.5
million, and non-GAAP operating loss of $27 million to $40
million.
Asana (NYSE:ASAN) – Shares of the software
company fell 13.4% in Wednesday’s pre-market. The movement occurred
despite Asana reporting a smaller-than-expected adjusted loss,
totaling 4 cents per share in the third quarter, compared to the
expectation of an 11-cent per share loss by analysts consulted by
LSEG. The company’s revenue reached $167 million, surpassing the
estimate of $164 million.
Bill Holdings (NYSE:BILL) – Bill Holdings, a
financial software company, plans to lay off 15% of its workforce
and close its office in Sydney, Australia, as part of an initiative
to resize the organization. CEO René Lacerte announced the measures
in a letter to employees following disappointing financial results.
Bill’s shares plummeted 41% in the past three months and fell about
36% year-to-date.
Exxon Mobil (NYSE:XOM) – Exxon Mobil’s CEO
Darren Woods faced challenges in his first five years, but his
acquisition of Pioneer Natural Resources
(NYSE:PXD) for $60 billion brought redemption. Exxon seeks to
balance oil profits with decarbonization services. On Tuesday, the
U.S. Federal Trade Commission issued a second request for
information about the acquisition agreement. Senator Charles
Schumer expressed concerns about potential anticompetitive effects
on gas prices.
Diageo (NYSE:DEO) – Diageo plans to sell its
beer portfolio, except Guinness, to improve margins, according to
Reuters. Diageo’s beer brands represent only 14% of sales, while
spirits contribute 81%.
Toll Brothers (NYSE:TOL) – The homebuilder
reported a beat in fourth-quarter fiscal earnings. Toll Brothers
reported earnings of $4.11 per share with revenue of $2.95 billion,
surpassing LSEG analysts’ expectations of $3.72 per share and
revenue of $2.78 billion.
Dave & Buster’s (NASDAQ:PLAY) – Dave &
Buster’s reported revenue of $466.9 million in the third quarter,
below the analysts’ estimate of $473 million, according to LSEG.
Additionally, the company announced a total stock repurchase
program of $100 million, aiming to acquire 2.8 million of its own
shares.
CVS Health (NYSE:CVS) – CVS Health plans to
simplify drug reimbursement with its CostVantage model to increase
transparency. The company anticipates revenues of at least $366
billion in 2024. CVS will also launch the TrueCost program in 2025
to offer more visibility on prescription drug prices and
administrative fees, addressing political concerns related to
intermediaries in the pharmaceutical industry.
Eli Lilly (NYSE:LLY) – Eli Lilly launched the
obesity treatment Zepbound in the U.S., with a monthly cost of
$550. The weight loss medication market is expected to grow, with
sales projections of $2 billion in 2024. Zepbound achieved an
average weight reduction of 20%.
Johnson & Johnson (NYSE:JNJ) – Johnson
& Johnson forecasts a revenue growth of 5-6% for 2024 after the
spin-off of its consumer health unit. It also projects adjusted
operating earnings of $10.55 to $10.75 per share in 2024. The
company plans to seek regulatory approvals for new therapies and
expand the use of existing treatments through 2030. Johnson &
Johnson also reached agreements with law firms related to
allegations that its talc products caused cancer, aiming for a
consensual pre-defined bankruptcy resolution. Details about the
agreements, involving mesothelioma cases, were not disclosed. The
company faces over 50,000 lawsuits due to talc.
Neurocrine Biosciences (NASDAQ:NBIX) –
Neurocrine Biosciences announced that the biopharmaceutical company
received the Food and Drug Administration (FDA)’s breakthrough
therapy designation for crinecerfont, a treatment for congenital
adrenal hyperplasia, a hormonal disorder. This designation
accelerates the development and review of drugs for serious
diseases. Shares are stable in Wednesday’s pre-market.
Procter & Gamble (NYSE:PG) – P&G plans
to record charges of up to $2.5 billion over two fiscal years due
to the write-down of the Gillette business and restructuring in
challenging markets, including Argentina and Nigeria. This follows
the company recording charges of $1.3 billion in the Gillette
business this quarter. P&G expects the Gillette business to
grow around 5% and also considers divesting its tissue and home
care unit in Argentina and making Nigeria an exclusively import
market. The charges will be recognized in fiscal years 2024 and
2025.
Mastercard (NYSE:MA) – Mastercard approved a
share buyback program of up to $11 billion and increased its
quarterly dividend to 66 cents per share, up from the previous 57
cents. The new program will begin after the completion of the
previous $9 billion program. Its competitor Visa
also launched a $25 billion share buyback program in October.
JPMorgan Chase (NYSE:JPM), Morgan
Stanley (NYSE:MS), Goldman Sachs
(NYSE:GS) – The CEOs of major U.S. banks are preparing to oppose
planned U.S. government regulations that would increase capital
requirements, in a Senate hearing. Jamie Dimon, CEO of J.P. Morgan,
will argue that the proposed rules would harm the U.S. economy by
limiting banks’ ability to mobilize capital. David Solomon, CEO of
Goldman Sachs, will warn that the new rules will make credit more
expensive and less accessible. James Gorman, CEO of Morgan Stanley,
considers the Basel III rules “completely unnecessary”.
JPMorgan Chase (NYSE:JPM) – The integration of
First Republic Bank by JPMorgan Chase is progressing well, with 90%
of customers retained. Consumer spending is strong, and growth in
credit card loans is predicted for the next year. The bank’s net
interest income is expected to exceed previous expectations.
Wells Fargo (NYSE:WFC) – Wells Fargo CEO
Charlie Scharf plans to set aside between $750 million and nearly
$1 billion in severance expenses in the fourth quarter due to
declining revenue and the need for internal efficiency. The bank
also faces weakness in commercial real estate loans and anticipates
losses in this area in the fourth quarter and in 2024.
HSBC (NYSE:HSBC) – HSBC has seen banker
departures in Hong Kong due to a lack of business in the region,
reflecting a trend of staff reduction due to macroeconomic
concerns. Eric Bai, co-head of HSBC’s financial institutions group,
resigned to start his own artificial intelligence venture, leaving
Alexander Paul as the sole leader of the group.
Barclays (NYSE:BCS) –
Citigroup (NYSE:C) and Bank of
America (NYSE:BAC) retained shares of Barclays after
failing to find enough demand for a 510 million pound stake sold by
Qatar Holding. The offering represented 2.3% of Barclays. Qatar
became the largest shareholder of Barclays during the 2008
financial crisis.
Nomura Holdings (NYSE:NMR) – Strategists at
Nomura Holdings updated their North Asia equity allocation model,
driven by the Federal Reserve’s policy shift and optimism about the
chip sector and China. The brokerage expects a 10% increase in the
MSCI Asia ex-Japan index by the end of 2024 but warns of potential
political uncertainties.
General Motors (NYSE:GM) – General Motors is
revoking its flexible work policy “Work Appropriately” and
requiring employees to return to the office three days a week
starting January 2024, with exceptions for those living more than
80 kilometers from the office. The decision follows the trend of
companies tightening remote work policies.
Toyota Motor (NYSE:TM) – Toyota Motor will sell
its entire stake in Japanese speed reducer manufacturer Harmonic
Drive Systems in the open market abroad. This follows the sale of
stakes in other affiliates, including KDDI, as Toyota accelerates
electrification. The stake sale would be worth about $123 million
(18.1 billion yen). Harmonic Drive Systems will buy back up to
700,000 of its own shares to minimize the impact on
shareholders.
Ford Motor (NYSE:F) – Ford and Xcel Energy are
collaborating to install 30,000 electric vehicle charging points in
the U.S. by 2030 as part of Xcel’s Electric Vehicle Supply
Infrastructure (EVSI) program. Financial details were not
disclosed. The expansion will include states like Michigan,
Minnesota, New Mexico, North Dakota, South Dakota, and Texas.
JetBlue Airways (NASDAQ:JBLU), Spirit
Airlines (NYSE:SAVE) – A U.S. federal judge is considering
blocking the proposed merger between JetBlue Airways and Spirit
Airlines. The judge raised concerns about the merger’s impact on
competition and suggested that JetBlue might divest more assets to
address these concerns. The merger faces opposition from the
Department of Justice and several U.S. states. The judge will
decide the case after the trial in Boston.
Boeing (NYSE:BA) – In November, Boeing
delivered 46 narrow-body 737 jets, including 45 MAX aircraft and 1
P-8 maritime patrol aircraft based on the NG. This brings Boeing’s
single-aisle aircraft deliveries to 351 units for the year, nearing
its revised target of 375-400 deliveries for 2023. Meanwhile,
Airbus plans to announce 64 deliveries in November, falling short
of its annual target of 720 deliveries.
GameStop (NYSE:GME)
Gráfico Histórico do Ativo
De Ago 2024 até Set 2024
GameStop (NYSE:GME)
Gráfico Histórico do Ativo
De Set 2023 até Set 2024