Stock futures are higher before Wednesday’s open as investors digest the recent sell-off and wait for a busy week of earnings and economic data. In addition to a slew of earnings we have a busy week for Central Banks, including the Fed meeting later today, and the always fun jobs report to look forward to on Friday
- Motor Vehicle Sales
- MBA Mortgage Applications 7:00 AM ET
- ADP Employment Report 8:15 AM ET
- Gallup U.S. Job Creation Index 8:30 AM ET
- Treasury Refunding Announcement 8:30 AM ET
- PMI Manufacturing Index 9:45 AM ET
- ISM Mfg Index 10:00 AM ET
- Construction Spending 10:00 AM ET
- EIA Petroleum Status Report 10:30 AM ET
- FOMC Meeting Announcement 2:00 PM ET
- Trump meets with big Pharma CEOs
Gary’s Thoughts: They have a lot of work to do.
- Tim Cook: Goal is to double Apple’s services revenue by 2020. Also hints Apple will battle Amazon and Netflix in original video
Gary’s Thoughts: That’s good for them and good for consumers.
Apple (AAPL) rose 3% in pre-market trading after it reported Q1 EPS of $3.36, higher than consensus of $3.22, and said it sold 78.3 million iPhone units, above consensus of 76.3 million.
Marathon Oil (MRO) was upgraded to ‘Sector Outperform’ from ‘Sector Perform’ at Scotia Howard Weil with a target price of $25.
Illumina (ILMN) lost 1% in after-hours trading after it said it sees Q1 revenue of $580 million to $595 million, below consensus of $615.3 million.
U.S. Steel (X) lost almost 1% in after-hours trading after it reported Q4 net sales of $2.65 billion, below consensus of $2.66 billion.
Align Technology (ALGN) gained 2% in after-hours trading after it said it sees Q1 net revenue of $295 million to $298 million, above consensus of $293.5 million.
Manhattan Associates (MANH) fell 5% in after-hours trading after it said it sees fiscal 2017 adjusted EPS of $1.89 to $1.93, below consensus of $2.02.
Carbonite (CARB) rose nearly 3% in after-hours trading after it reported Q4 preliminary non-GAAP EPS of 10 cents-13 cents, higher than consensus of 10 cents. It also purchased Double-Take for $65.3 million in cash and stock.
Under Armour (UAA) was downgraded to ‘Underperform’ from ‘Neutral’ at Credit Suisse.
Overstock.com (OSTK) surged over 13% in after-hours trading after it reported Q4 EPS of 12 cents versus zero y/y and Q4 revenue of $526.2 million versus $480.3 million y/y.
Advanced Micro Devices (AMD) climbed nearly 5% in after-hours trading after it reported Q4 revenue of $1.11 billion, better than consensus of $1.07 billion.
Match Group (MTCH) dropped nearly 8% in after-hours trading after it said it sees Q1 revenue of $287 million-$297 million, well below consensus of $330.2 billion.
Sanchez Energy (SN) slid 3% in after-hours trading after it announced a public offering of 10 million shares of common stock.
Boot Barn Holdings (BOOT) sank nearly 10% in after-hours trading after it cut its fiscal 2017 EPS estimate to 60 cents-63 cents from an Oct 26 projection of 66 cents-73 cents, below consensus of 68 cents.
Synergy Pharmaceuticals (SGYP) sank over 10% in after-hours trading after it announced a public offering of $125 million of common stock.
Catabasis Pharmaceuticals (CATB) plunged over 60% in after-hours trading after part B of the MoveDMD trial of its edasalonexent (CAT-1004) for treatment of Duchenne muscular dystrophy failed to meet its primary endpoint.
Source: FoxBusiness, Barchart, CNBC, Bloomberg, Reuters