Take a look at some of the most important engines on the previous market:
Nike (NKE) – Nike lost 51 cents a share in its last quarter, well below the consensus forecast for a profit of 7 cents a share. The footwear and sportswear maker’s revenue was also well below expectations, hurt by the closure of stores related to the closure.
JPMorgan Chase (JPM), Bank of America (BAC), Wells Fargo (WFC), Goldman Sachs (GS), Citigroup (C) – these and other financial companies are under pressure, after the Federal Reserve imposed limits on dividends that these companies could pay and suspend any share buyback plan after the last round of stress tests.
Albertsons (ACI) – Albertson begins trading on the New York Stock Exchange today, after the supermarket operator’s initial public offering was priced below $ 16 a share. The IPO values the company at approximately $ 9.3 billion.
PG&E (PCG): PG&E raised $ 5.5 billion through the sale of shares and capital units, as the California utility company prepares to emerge from bankruptcy protection next week.
Amazon.com (AMZN) – Amazon will pay just over $ 1 billion to buy autonomous startup Zoox, according to online publication The Information, citing sources. Separately, Amazon is buying the naming rights for the Seattle NHL arena, planning to call it the “Climate Engagement Arena” in recognition of its status as the first fully carbon neutral arena. Amazon is also the subject of positive analyst reports at Deutsche Bank, which is raising earnings estimates and raising its target price to $ 3,333 per share, and SunTrust, which raised its target price to a high of $ 3,400 on the street.
DraftKings (DKNG) – The operator of the online gambling website was rated “buy” in a new coverage at Rosenblatt Securities. The firm sees a number of catalysts, including the return of live sports and a possible acceleration of gambling legislation due to Covid-19.
Big Lots (BIG): The discount retailer said it is seeing a continuation of strong demand that started in mid-April. He now expects comparable second-quarter sales to increase between the mid-to-high twenties, and adjusted earnings per share of $ 2.50- $ 2.75. The current second-quarter consensus estimate for Big Lots is 84 cents a share.
Harley-Davidson (HOG): The motorcycle maker is cutting 140 jobs in the US amid cuts in its production volumes. Ninety jobs will be cut at the Harley plant in York, Pennsylvania, while 50 jobs will be cut at its Tomahawk, Wisconsin facility.
Office Depot (ODP): The office supply retailer announced that a 1-for-10 reverse stock split would take effect at the close of trading on June 30. Shareholders approved the measure at the company’s annual meeting in May.
Facebook (FB) – Verizon (VZ) is the last and largest company to join a Facebook ad boycott during July, lending its support to a campaign accusing the social media giant of not doing enough to stop the hate speech on your platform.
Ford (F) – The automaker introduced the first redesign of its popular F-150 truck in six years. The F-150 is the country’s best-selling vehicle.
Progress Software (PRGS): Progress Software reported quarterly earnings of 63 cents a share, one penny a share below estimates. However, revenue beat Wall Street’s forecasts, and the cloud software company increased its earnings guidance for the full year. The company plans to resume the purchase of shares after pausing repurchases due to the Covid-19 pandemic.
Virgin Galactic (SPCE) – Virgin Galactic had a second successful flight from its spacecraft over southern New Mexico, with pilots flying the ship at speeds faster than during the initial flight.
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