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A masked pedestrian carrying water bottles walks past the Charging Bull statue in Lower Manhattan on April 2, 2020 in New York City.
Bruce Bennett | fake pictures
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8:26 am: Pfizer shares rise with better-than-expected earnings
Dow member Pfizer gained more than 2% in the pre-market earnings better than expected for the first quarter. The company posted a profit of 80 cents a share, beating Refinitiv’s estimate of 73 cents a share. Pfizer also reaffirmed its full-year earnings guide. However, the company’s total sales fell 8% year-over-year as Pfizer works to find a coronavirus vaccine. –Imbert
8:18 am: BofA Securities clients were net sellers of US stocks last week, according to data
Data compiled by BofA Securities showed that the bank’s customers were net sellers of US stocks last week for the first time in four weeks. Overall, they sold more than $ 1.3 billion in shares last week, as top averages posted their first weekly decline in three. Technology stocks had the largest outflows, and BofA Securities clients raised $ 752 million from the sector. Discretionary consumption had an outflow of $ 223 million. –Imbert, Bloom
8:11 am: 3M up 3.5% after sales of personal safety equipment increased first quarter results
Shares of multinational industrial conglomerate 3M rose 3.5% in premarket trading on Tuesday after the company said an increase in sales of its personal safety equipment helped boost first-quarter revenue. 3M, the leading producer of key masks N95, said the Covid-19 outbreak forced it to double global production of global respirators to 100 million per month from early 2020. It reported adjusted earnings per share of $ 2.16 on sales of $ 8.08 billion, 2.7% year-on-year growth. –Franck
7:49 am: Caterpillar says first quarter sales decreased 21%, gives no prospect for 2020 due to pandemic
Caterpillar experienced a 21% drop in sales in the first quarter as the coronavirus pandemic disrupted demand in the construction and mining sectors. The industrial giant reported revenue of $ 10.6 billion in the first quarter on Tuesday, compared to $ 13.5 billion in the first quarter of 2019. Caterpillar posted adjusted earnings per share of $ 1.60 in the first quarter, compared to $ 3.25 per share in the same quarter of the year ago. The company said it is not providing a financial perspective for 2020 at this time given the “continued global economic uncertainty” due to the pandemic. – Li
7:43 am: Dow futures rise for the second day in hopes that the economy will revive soon
US stock futures. USA They signaled another big day of profit as traders raised bets on the reopening of the US economy. USA Dow Jones Industrial Average futures rose more than 300 points, or 1.4%. S&P 500 and Nasdaq 100 futures increased 1.3% and 1.1%, respectively. Alaska, Georgia, South Carolina, Tennessee, and Texas are among the states that have allowed some companies to resume operations. Wall Street was out of a strong rally on Monday, with the Dow rising more than 350 points. Oil fell again, but at the worst levels of the night session.
With reports from Michael Bloom.
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