- U.S. futures drift after tech drives U.S. gauges to records
- Treasuries steady; oil dips as gold heads for monthly drop
Stocks were mixed and U.S. futures fluctuated on Tuesday as concerns over a highly infectious Covid-19 strain spurred caution among investors. The dollar strengthened.
At 8:05 a.m. ET, Dow e-minis were up 51 points, or 0.15%, S&P 500 e-minis were down 3 points, or 0.07%, and Nasdaq 100 e-minis were down 24.50 points, or 0.17%.
Morgan Stanley jumped 3.2% in premarket trading, leading gains among the big lenders after saying it would double its dividend to 70 cents per share in the third quarter.
JPMorgan Chase & Co and Goldman Sachs Group(GS.N)gained 0.2% and 1.1%, as they hiked their capital payouts after the U.S. Federal Reserve gave them a clean bill of health following their annual "stress tests" last week.
A reading of the Conference Board's consumer confidence index, set to be release at 10 a.m. ET, is expected to rise to 119 this month after steadying in May.
Stocks making the biggest moves in the premarket:
Big banks –Goldman Sachs(GS),Bank of America(BAC),Morgan Stanley(MS),JPMorgan Chase(JPM) and Wells Fargo(WFC) all announced dividend increases after passing the Fed’s latest stress tests. Morgan Stanley and Wells Fargo bothdoubled their dividends, whileCitigroup(C) was the only one of the six largest banks to keep its dividend unchanged. Morgan Stanley rose 3.2% in the premarket, with Goldman up 1.1%.
Facebook (FB) – Facebook remains on watch after a late Monday jump which saw itsurge past the $1 trillion markin market value. That followed a court decision thatdismissed both federal and state antitrust complaintsagainst the social media giant.
Tesla (TSLA) – UBS cut its price target on Tesla shares to $660 from $730, while maintaining a “neutral” rating, noting increasing competition as well as operational delays.
Boeing (BA) – Boeingwon a 200 jet orderfromUnited Airlines(UAL), which also ordered 70 Airbus jets as it modernizes its fleet. United will buy a variety of Max jets from Boeing and A321neo models from Airbus.
FactSet (FDS) – The financial information company earned $2.72 per share for its fiscal third quarter, 3 cents a share shy of estimates. Revenue came in above Wall Street forecasts. FactSet expects earnings of $10.75 to $11.15 per share for the fiscal year ending in August, compared to a current consensus estimate of $11.14 a share.
Herman Miller (MLHR) – Herman Miller reported quarterly profit of 56 cents per share, beating the consensus estimate of 39 cents a share. The office furniture maker’s revenue came in above estimates as well. Herman Miller gave a lower-than-expected earnings forecast, however, and its shares fell 1.7% in the premarket.
Jefferies Financial (JEF) – Jefferies beat Wall Street forecasts for both profit and revenue for its latest quarter, and the financial services firm also announced a 25% dividend increase. Jefferies rallied 3.3% in premarket trading.
XPO Logistics (XPO) – XPO announced that its public offering of 5 million common shares was priced at $138 per share, compared to Monday’s close of $140.61. The transportation and logistics company plans to use the funds to pay down debt and for general corporate purposes. XPO fell 1.5% in the premarket.
Herbalife Nutrition (HLF) – Herbalife was rated “buy” in new coverage at B Riley Securities, with a price target of $70 per share. The nutritional products maker’s stock closed at $53.34 on Monday. B Riley notes Herbalife’s global leadership in weight management supplements as an increasing presence in the sports/fitness category.
General Electric (GE) – Goldman Sachs named the stock a “top idea,” based in part on an upbeat view of GE’s cash flow prospects as the industrials sector recovers. Goldman rates GE “buy” with a price target of $16 compared to Monday’s close of $12.89. GE rose 1% in premarket trading.
Textron (TXT) – Textron was upgraded to “overweight” from “equal-weight” at Morgan Stanley, based on a rebound in the use of business jets as well as the prospects for electric vertical takeoff and landing vehicles.
FedEx (FDX) – Bank of America Securities added FedEx to its “US1” list of top picks, while maintaining a “buy” rating. BofA sees significant tailwinds for FedEx including increased pricing power, and notes that the stock is at the low end of its historical trading range.
关注我们