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Stocks making the biggest moves in the premarket:
Goldman Sachs, Synchrony Financial, Coinbase and more
Published Mon, Jul 18 2022 7:50 AM EDT
Take a look at some of the biggest movers in the premarket:
Goldman Sachs (GS) – Goldman gained 2.6% in premarket trading, following upbeat profit and revenue. Second-quarter earnings came in at $7.73 per share, compared to a consensus estimate of $6.58 a share. Goldman’s profit dropped from a year ago, however, as the pace of dealmaking slowed.
Synchrony Financial (SYF) – The financial services company’s stock rallied 3.5% in the premarket after it reported better-than-expected profit and revenue for the second quarter. Synchrony pointed to upbeat loan growth and credit trends, with the consumers remaining strong.
Coinbase (COIN) – Coinbase rallied 6.5% in premarket action, with the cryptocurrency exchange operator’s stock one of several crypto-related stocks rising after the value of bitcoin and ether surged in overnight trading.
Bank of America (BAC) – Bank of America fell 2 cents a share shy of estimates with quarterly earnings of 73 cents per share, though revenue came in slightly above Wall Street forecasts. Bank of America’s results were impacted by a sharp drop in investment banking revenue. The stock initially fell 1.7% in the premarket but then pared those losses.
Twitter (TWTR) – Elon Musk filed a court motion late Friday seeking to deny Twitter’s request for an expedited trial over his move to terminate his $44 billion takeover deal.
Boeing (BA) – Boeing announced that Delta Air Lines (DAL) had ordered 100 Boeing 737 Max jets, and also said that the company was very close to resuming deliveries of its 787 Dreamliner. Boeing jumped 4.2% in premarket trading.
Seagen (SGEN) – The closing of Merck’s (MRK) $40 billion deal to buy Seagen will be delayed, according to people familiar with the matter who spoke to The Wall Street Journal. The delay stems from a wait for data evaluating a study of a Seagen treatment. The stock slid 2.9% in the premarket.
Starbucks (SBUX) – Starbucks rose 1.% in the premarket after the Sunday Times reported that the coffee chain is exploring a possible sale of its U.K. operations.
GlaxoSmithKline (GSK) – The company formerly known as GlaxoSmithKline completed the spin-off of its consumer health business into a separate company known as Haleon, which contains well-known brands such as Advil and Sensodyne. GSK fell 1.3% in the premarket.
Paramount Global (PARA) – The media company’s stock lost 1.8% in premarket trading after Morgan Stanley downgraded it to “underweight” from “equal-weight,” noting the possibility of advertisers and consumers pulling back in a recession scenario.
Fresh Del Monte Produce (FDP) – The fruit and vegetable company’s stock rose 2.8% in premarket trading after Bloomberg reported that private-equity firm I Squared Capital is considering a takeover, as one option to expand a partnership agreement struck in 2021.
https://www.cnbc.com/2022/07/18/stocks-m...-more.html
U.S. equity funds' net assets shrank by $2 trillion in second quarter
Reuters
July 18 (Reuters) - U.S. equity funds witnessed a record erosion in their net assets in the second quarter of this year, as stocks slumped due to soaring inflation and rising expectations of aggressive rate hikes by major central banks.
Data from Refinitiv Lipper showed U.S. equity funds' net assets shrank by $2.1 trillion to $9.2 trillion in the quarter ended June, the biggest quarterly drop ever..............
https://www.reuters.com/markets/europe/u...022-07-18/
Stock futures jump as earnings season picks up
Alexandra Semenova
Reporter
Mon, July 18, 2022 at 12:54 PM
U.S. stock futures rose in pre-market trading Monday as investors awaited a flurry of corporate earnings.
Futures tied to the S&P 500 gained 1%, while contracts on the Dow Jones Industrial Average jumped 280 points, or 0.9%. Nasdaq futures climbed 1.2%, with tech stocks poised to lead advances at the open.........
Over 70 companies are scheduled to release results this week. Big tech earnings are set to trickle in, starting with Netflix (NFLX) after market close on Tuesday, Tesla (TSLA) after the bell on Wednesday, and Twitter (TWTR) before the start of trading Friday.............
https://finance.yahoo.com/news/stock-mar...01497.html
Stocks making the biggest moves in the premarket:
Goldman Sachs, Synchrony Financial, Coinbase and more
Published Mon, Jul 18 2022 7:50 AM EDT
Take a look at some of the biggest movers in the premarket:
Goldman Sachs (GS) – Goldman gained 2.6% in premarket trading, following upbeat profit and revenue. Second-quarter earnings came in at $7.73 per share, compared to a consensus estimate of $6.58 a share. Goldman’s profit dropped from a year ago, however, as the pace of dealmaking slowed.
Synchrony Financial (SYF) – The financial services company’s stock rallied 3.5% in the premarket after it reported better-than-expected profit and revenue for the second quarter. Synchrony pointed to upbeat loan growth and credit trends, with the consumers remaining strong.
Coinbase (COIN) – Coinbase rallied 6.5% in premarket action, with the cryptocurrency exchange operator’s stock one of several crypto-related stocks rising after the value of bitcoin and ether surged in overnight trading.
Bank of America (BAC) – Bank of America fell 2 cents a share shy of estimates with quarterly earnings of 73 cents per share, though revenue came in slightly above Wall Street forecasts. Bank of America’s results were impacted by a sharp drop in investment banking revenue. The stock initially fell 1.7% in the premarket but then pared those losses.
Twitter (TWTR) – Elon Musk filed a court motion late Friday seeking to deny Twitter’s request for an expedited trial over his move to terminate his $44 billion takeover deal.
Boeing (BA) – Boeing announced that Delta Air Lines (DAL) had ordered 100 Boeing 737 Max jets, and also said that the company was very close to resuming deliveries of its 787 Dreamliner. Boeing jumped 4.2% in premarket trading.
Seagen (SGEN) – The closing of Merck’s (MRK) $40 billion deal to buy Seagen will be delayed, according to people familiar with the matter who spoke to The Wall Street Journal. The delay stems from a wait for data evaluating a study of a Seagen treatment. The stock slid 2.9% in the premarket.
Starbucks (SBUX) – Starbucks rose 1.% in the premarket after the Sunday Times reported that the coffee chain is exploring a possible sale of its U.K. operations.
GlaxoSmithKline (GSK) – The company formerly known as GlaxoSmithKline completed the spin-off of its consumer health business into a separate company known as Haleon, which contains well-known brands such as Advil and Sensodyne. GSK fell 1.3% in the premarket.
Paramount Global (PARA) – The media company’s stock lost 1.8% in premarket trading after Morgan Stanley downgraded it to “underweight” from “equal-weight,” noting the possibility of advertisers and consumers pulling back in a recession scenario.
Fresh Del Monte Produce (FDP) – The fruit and vegetable company’s stock rose 2.8% in premarket trading after Bloomberg reported that private-equity firm I Squared Capital is considering a takeover, as one option to expand a partnership agreement struck in 2021.
https://www.cnbc.com/2022/07/18/stocks-m...-more.html
U.S. equity funds' net assets shrank by $2 trillion in second quarter
Reuters
July 18 (Reuters) - U.S. equity funds witnessed a record erosion in their net assets in the second quarter of this year, as stocks slumped due to soaring inflation and rising expectations of aggressive rate hikes by major central banks.
Data from Refinitiv Lipper showed U.S. equity funds' net assets shrank by $2.1 trillion to $9.2 trillion in the quarter ended June, the biggest quarterly drop ever..............
https://www.reuters.com/markets/europe/u...022-07-18/
Stock futures jump as earnings season picks up
Alexandra Semenova
Reporter
Mon, July 18, 2022 at 12:54 PM
U.S. stock futures rose in pre-market trading Monday as investors awaited a flurry of corporate earnings.
Futures tied to the S&P 500 gained 1%, while contracts on the Dow Jones Industrial Average jumped 280 points, or 0.9%. Nasdaq futures climbed 1.2%, with tech stocks poised to lead advances at the open.........
Zitat:Similar commentary is expected from leaders across Corporate America this week as more companies reveal how their businesses held up during a volatile last quarter. Not only are numbers projected to reflect milder profits, traders are bracing for potential downward guidance revisions as companies outline the impact of surging prices, quantitative tightening, and war in Ukraine on their business prospects.
“The most important indication for the economy over the next few weeks will be earnings releases as companies report,” Gargi Chaudhuri, Head of iShares Investment Strategy, Americas at BlackRock said in a note.
“We will be watching to see whether companies are still able to keep pushing higher prices to their consumers, and which sectors are significantly revising down their earnings forecast for the future,” she said. “We will also be watching to see how much recession risks will be noted in feature in earnings calls.”
Over 70 companies are scheduled to release results this week. Big tech earnings are set to trickle in, starting with Netflix (NFLX) after market close on Tuesday, Tesla (TSLA) after the bell on Wednesday, and Twitter (TWTR) before the start of trading Friday.............
https://finance.yahoo.com/news/stock-mar...01497.html
