Take a look at some of the most important engines on the previous market:
IHS Markit (INFO): The provider of financial information and analysis reported quarterly earnings of 69 cents a share, 2 cents a share above estimates. Revenue was slightly below expectations as organic revenue fell 7%. The company said the quarter was “challenging” due to the pandemic, but that it expects profit and earnings growth this year and next.
Spirit AeroSystems (SPR) – Spirit AeroSystems is asking its lenders for financial help as it deals with the aftermath of the Covid-19 pandemic and disruption of production of the Boeing 737 Max jet (BA). Spirit is Boeing’s largest supplier.
Starbucks (SBUX) – Starbucks is introducing the “Impossible Breakfast Sandwich” in its stores today, along with two new cold coffee drinks. That could affect the actions of Impossible Foods competitor Beyond Meat (BYND), although Starbucks also has some of Beyond’s offerings.
Salesforce.com (CRM): The enterprise software provider announced a collaboration with Siemens of Germany on a workplace safety software package. The software will help assist social distancing in various aspects of workplace operations.
T-Mobile US (TMUS) – Softbank started selling $ 21 billion in T-Mobile stock. The Japanese firm is seeking to raise funds for a $ 41 billion debt reduction and a share buyback plan.
Intuit (INTU): The maker of TurboTax and other financial software cut 715 jobs and said it is revamping its technology and sales strategies. Affected workers will receive a four-week minimum wage, as well as an additional two weeks for each year of service.
ViacomCBS (VIAC) – ViacomCBS will debut its new movie “SpongeBob” on digital platforms in early 2021, bypassing theaters. “The SpongeBob Movie: Sponge On The Run” will first be available via pay-per-view, and will then move exclusively to the company’s CBS All Access streaming service.
American Airlines (AAL) – American Airlines will increase the aggregate size of planned convertible and secondary share offerings to $ 2 billion from $ 1.5 billion, according to a Bloomberg report.
AbbVie (ABBV) – AbbVie has been upgraded to “overweight” from “neutral” at Atlantic Equities, pointing to increased earnings visibility for the maker of Humira and other drugs after the completion of its acquisition of Allergan.
BlackRock (BLK) – BlackRock CEO Larry Fink said the asset management firm promised to increase its black workforce by 30% by 2024. BlackRock also plans to double the percentage of black senior leaders to 3% current.
Peloton (PTON) – Cowen called the fitness equipment maker its best idea “SMIDCAP”, even though shares have already risen 75% this year. Cowen points to an increase in engagement and subscriptions, helped by the pandemic and marketing efforts.
Mastercard (MA), Visa (V) – Oppenheimer downgraded Mastercard’s “yield” rating to “outperform”, keeping Visa as “outperforming” and raising the target price to $ 202 per share from $ 190 per share. Oppenheimer bases the changes on expectations that Visa will regain market share and sees purchasing volume accelerate in the European market.
Micron Technology (MU): Chip maker shares downgraded to “market performance” by “superior performance” at BMO Capital Markets, citing a balanced risk / reward profile amid slowing fundamentals for the market of memory chips.