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Toplines Before US Market Open on Wednesday

Tiger Newspress2021-06-09

  • Stock futures traded mixed Wednesday morning as investors considered more mixed data on the U.S. economic recovery.
  • A resurgence in the social media-fueled "meme stocks.
  • Newest meme stock Clover Health is set to soar again.
  • Shares of major banks came under some pressure as bond yields sank to one-month lows.

(June 9) U.S. stock index futures were little changed on Wednesday as a lack of clear catalysts kept trading slow, with investors awaiting fresh cues from inflation data this week and an upcoming Federal Reserve meeting.

At 7:48 a.m. ET, Dow e-minis were down 54 points, or 0.16%, S&P 500 e-minis were up 0.5 points, or 0.01%, and Nasdaq 100 e-minis were up 30.25 points, or 0.22%.

7:48 a.m. ET

But buying into so-called “meme stocks” by small-time retail investors continued, with the new social media favorite Clover Health surging 25.73% in premarket trade after jumping 85% to a record high on Tuesday.

GameStop - the company most closely associated with the retail rally this year - rose 1.03% ahead of its quarterly results, due after the bell.

Wall Street indexes have moved little this week amid a dearth of cues, with most investors sticking to the sidelines ahead of key inflation data on Thursday.

The Fed’s meeting next week is also expected to shed more light on the bank’s policy tapering plans. While inflation has surged in recent months, a sluggish labor market is broadly expected to keep the bank dovish.

Stocks making the biggest moves in the premarket:

1) Clover Health(CLOV),Wendy's(WEN) – The two stocksextended their gainsin premarket trading, after surging yesterday on increased social media attention. Clover – a seller of health-care insurance that went public via a SPAC deal in October – has risen for the past six days, capped by a nearly 86% surge Tuesday. It soared 24.2% in premarket action, while Wendy's – up nearly 26% in yesterday's trading – added another 4.3% this morning.

2) Campbell Soup(CPB) – The food producer reported quarterly earnings of 57 cents per share, missing consensus by 9 cents a share. Revenue also missed forecasts as results lagged year-ago figures that were boosted by pandemic-related demand. Campbell also cut its full-year forecast, reflecting both those quarterly results and the recent sale of its Plum baby food and snacks business. Campbell shares tumbled 5.8% in the premarket.

3) Lordstown Motors(RIDE) – Lordstown Motors said there was "substantial doubt" about its ability to continue as a going concern. The electric truck maker said in a Securities and Exchange Commission filing that it is having problems funding vehicle production. Lordstown plunged more than 16% yesterday ahead of the news, and slid another 4.2% in premarket trading.

4) Target(TGT) – The retailer increased its quarterly dividend to 90 cents per share from 68 cents a share, a jump of 32%. The improved payout will go to shareholders of record as of Aug. 18, to be paid on Sept. 10.

5) Merck(MRK) – The drugmaker struck an agreement to supply the government with molnupiravir, an oral treatment designed to treat mild to moderate cases of Covid-19. The drug is currently being evaluated in a phase 3 trial.

6) Fastly(FSLY) – Fastly issued an apology for Tuesday’s widespread internet outage, with the cloud computing company saying the incident was caused by a software bug that was triggered when a customer changed settings. Fastly rose 2.4% in the premarket.

7) Sherwin-Williams(SHW) – Sherwin-Williams raised its sales and profit guidance for the year, as the paint maker sees pandemic-induced demand for its products continuing even as the pandemic recedes. The company is also raising its prices to deal with higher costs for raw materials. Sherwin-Williams fell 1.3% in the premarket.

8) Casey’s General Stores(CASY) – Casey’s reported quarterly earnings of $1.12 per share, beating the consensus estimate of 88 cents a share. The convenience store chain’s revenue exceeded estimates as well. Same-store sales, excluding gasoline purchases, rose 12.8% as customer traffic steadily increased.

9) Fox Corp.(FOXA) – Fox added 1.8% in the premarket following an upgrade to “overweight” from “equal weight” at Wells Fargo Securities, which feels the stock could benefit from Fox’s presence in sports gambling despite pressures from cord-cutting.

10) Abercrombie & Fitch(ANF) – The apparel retailer was upgraded to “buy” from “hold” at Jefferies, which points to ongoing benefits from years of brand elevation efforts as well as an increase in profit margins. Abercrombie rose 2.9% in premarket trading.

11) GameStop(GME) – The videogame retailer will report quarterly earnings after today’s closing bell. GameStop shares surged the past two days amid renewed buying in the so-called “meme” stocks.

12) Ferrari(RACE) – Ferrari namedSTMicroelectronics(STM) executive Benedetto Vignaas its new CEO, filling a position that had been vacant for six months since Louis Camilleri retired as the automaker’s chief. Vigna – who runs chipmaker STMicro’s biggest division – will begin his new duties at Ferrari on Sept. 1.

免责声明:本文观点仅代表作者个人观点,不构成本平台的投资建议,本平台不对文章信息准确性、完整性和及时性做出任何保证,亦不对因使用或信赖文章信息引发的任何损失承担责任。

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  • RPRP
    ·2021-06-09
    Like and comment pls. Thanks.
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  • Meshaarias72
    ·2021-06-09
    Like n comment pls
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  • Heng8818
    ·2021-06-09
    Good news
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    • jamjam
      lol
      2021-06-09
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    • Heng8818
      hehe
      2021-06-09
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  • Reindeerrr
    ·2021-06-09
    Pls like and comment thanks!
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    • Heng8818
      ok
      2021-06-09
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      reply ty
      2021-06-09
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    • RPRP
      Done
      2021-06-09
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  • HappyTrade
    ·2021-06-09
    👍😀
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    • jamjam
      lol
      2021-06-09
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  • hminjoon
    ·2021-06-09
    🚀
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  • Jacklee96
    ·2021-06-09
    Like
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    • Mrscrw
      Ok
      2021-06-09
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  • Evanchills
    ·2021-06-09
    Comment and like
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  • carrotman
    ·2021-06-09
    Do you think stocks will continue to climb up?
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      Hope for ir. What about others rhinking?
      2021-06-09
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    ·2021-06-09
    👍🏻
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    ·2021-06-09
    ok
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    ·2021-06-09
    done n ok
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      done
      2021-06-09
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  • HermanL
    ·2021-06-09
    Njhl
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    • 股你怕么
      please respond my comment
      2021-06-09
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    • HermanL
      okie
      2021-06-09
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  • Huatmoney
    ·2021-06-09
    Comment pls 
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    • 股你怕么
      please respond my comment
      2021-06-09
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  • LEEQF
    ·2021-06-09
    Come here reply me! I will reply u!  Thank u bosses
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    • HermanL
      ok boss
      2021-06-09
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      2021-06-09
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      2021-06-09
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  • 股你怕么
    ·2021-06-09
    Please like and comment
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    • ElunMask
      Sure
      2021-06-09
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      done
      2021-06-09
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      K
      2021-06-09
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  • Carolir
    ·2021-06-09
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  • 股你怕么
    ·2021-06-09
    Please like and comment 
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    • LEEQF
      Come here reply me! I will reply u! Thank u bosses
      2021-06-09
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    • Huatmoney
      K
      2021-06-09
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  • 股你怕么
    ·2021-06-09
    Up ah
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    ·2021-06-09
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