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Stocks making the biggest moves in the premarket: Disney, Micron, Dow Inc., GM & more – CNBC

https://www.cnbc.com/2020/09/30/stocks-making-the-biggest-moves-in-the-premarket-disney-micron-dow-inc-gm-more.html

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Take a look at some of the biggest movers in the premarket:

Walt Disney (DIS) – Disney is cutting 28,000 jobs in its theme parks division, as the coronavirus impacts park visits and as the company’s flagship Disneyland resort remains closed for the foreseeable future due to restrictions imposed by California.

Palantir (PLTR) – Palantir will begin trading on the New York Stock Exchange today in a direct listing, with the NYSE setting a reference price of $7.25 per share for the data analytics company’s stock. That values Palantir at $15.8 billion ahead of its market debut.

Asana (ASAN) – Asana will also begin trading today on the NYSE, with a reference price of $21 per share for the software company. Palantir and Asana are only the third and fourth companies to go public via direct listing, following Spotify (SPOT) and Slack (WORK).

Micron Technology (MU) – Micron beat estimates by 9 cents a share, with quarterly earnings of $1.08 per share. The chip maker’s revenue also beat forecasts. Micron gave a lower-than-expected current-quarter revenue estimate, however, partly due to the U.S. government ban on shipments to China’s Huawei Technologies.

Dow Inc. (DOW) – The materials science company announced plans to reduce its global workforce costs by 6%, although it did not announce how many jobs might be cut. It will take a current quarter charge of $500 million to $600 million in connection with the restructuring.

General Motors (GM) – GM will not close its deal to buy a stake in electric truck maker Nikola (NKLA) today, according to sources who spoke to CNBC’s Phil LeBeau. Talks between the two sides will continue, however, amid accusations by short-seller Hindenburg Research that Nikola had misled investors about its technology. Nikola has denied those accusations.

Caesars Entertainment (CZR) – The casino operator’s $3.7 billion bid to buy William Hill was accepted by the British betting firm, with William Hill saying it believed the deal was the best option for shareholders at an attractive price.

Canada Goose (GOOS) – The outerwear maker was upgraded to “outperform” from “market perform” at Cowen, which noted the company’s strong brand equity and global strength.

Royal Dutch Shell (RDS.A, RDS.B) – The energy giant said it plans to cut up to 9,000 jobs, after completing a broad cost-cutting review. Those cuts will be completed by the end of 2022, at a projected savings of up to $2.5 billion annually.

Apple (AAPL) – Apple CEO Tim Cook was granted 333,987 restricted stock units, his first stock grant since 2011. Apple’s board said it made the award in recognition of Cook’s “outstanding leadership.”

Moderna (MRNA) – Moderna’s experimental Covid-19 vaccine appears safe and shows signs of working in older adults, according to study results published in the New England Journal of Medicine.

Regeneron Pharmaceuticals (REGN) – The drugmaker said its experimental Covid-19 treatment was effective in treating early-stage illness, improving symptoms and reducing virus levels in patients who were not hospitalized.

Duke Energy (DUK) – Duke was approached by NextEra Energy (NEE) about a takeover recently, according to people familiar with the matter who spoke to The Wall Street Journal The paper said Duke rejected the approach but that NextEra was still interested in pursuing a combination of the two Southern utility companies.

Sherwin-Williams (SHW) – The paint producer boosted its sales and profit outlook, thanks in large part to a boost in painting projects by homebound consumers.

Starbucks (SBUX) – Starbucks was upgraded to “outperform” from “market perform” at Cowen, which notes that the coffee chain has expanded digital access with new pay options and also seen rapid growth in curbside pickup.

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MSFT Stock: $249 Price Target By Morgan Stanley – Pulse 2.0

https://pulse2.com/msft-stock-249-price-target-by-morgan-stanley/

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  • Morgan Stanley analyst Keith Weiss has increased the price target of Microsoft Corporation (NASDAQ: MSFT) from $245 to $249. These are the details.

Morgan Stanley analyst Keith Weiss has increased the price target of Microsoft Corporation (NASDAQ: MSFT) from $245 to $249. And Weiss also kept an “Overweight” rating on Microsoft’s shares following the fiscal first-quarter report. 

Weiss pointed out that the first quarter results showcased an acceleration in commercial bookings and solid growth in Commercial Cloud. Plus he raised his FY 21 EPS estimates after the earnings were announced.

Fiscal First-Quarter Results

Earlier this week, Microsoft reported revenue of $37.15 billion compared to analyst expectations at under $36 billion for the first fiscal quarter. And Microsoft CFO Amy Hood said that the company is expecting between $39.5 and $40.4 billion for the fiscal second quarter. Hood noted that there will likely be software business demand for Windows licensing revenue.

For the quarter, revenue increased 12% on an annualized basis — which is down from 13% growth in the previous quarter. And revenue for commercial PCs dropped 22% due to the end of Windows 7 support and the COVID-19 pandemic. 

However, the Azure public cloud for hosting applications and websites increased by 48%. Analysts were expecting less than 45%.

And the Microsoft Intelligent Cloud unit — which features Azure, Enterprise Services, GitHub, and server products like SQL Server and Windows Server — generated $12.99 billion in revenue, up 20% year-over-year.

The Productivity and Business Processes unit — which includes Dynamics, LinkedIn, and Office — brought in $12.32 billion in revenue. Microsoft CEO Satya Nadella noted during the call that Teams (part of the Office 365 productivity app bundle) is now seeing over 115 million daily active users, up from 75 million in April.

Microsoft’s revenue from the More Personal Computing unit — which includes search ads, Surface, Windows, and Xbox –hit $11.85 billion, up 6% year-over-year. 

Even though Microsoft beat the estimates for the quarter, the stock price is trading down about 5.26% due to a broader market selloff and the guidance for the next quarter being slightly below average estimates. Analysts were expecting more than $40.4 billion for the next quarter as the company launches its next-generation video game consoles.

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Vizio and LG’s next-gen-ready OLED TVs are up to $500 off at Best Buy – The Verge

https://www.theverge.com/good-deals/2020/10/29/21539029/lg-cx-vizio-oled-4k-tv-sony-wh1000xm4-beats-headphones-wireless-black-friday-deals-best-buy

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Vizio and LG’s next-gen-ready OLED TVs are up to $500 off at Best Buy – The Verge




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Plus, Sony’s WH-1000XM4 are also back down to their lowest price

If you buy something from a Verge link, Vox Media may earn a commission. See our ethics statement.

Image: Vizio

Through Sunday, November 1st, Best Buy is giving shoppers another sliver of time to get in on some deals ahead of Black Friday later in the month. Most of these are repeats from the retailer’s Black Friday kickoff event that went up against Prime Day, though a few are newcomers. We’ll be keeping you posted on all of the latest Black Friday deals throughout the month, no matter where they’re coming from or when they actually drop, so stay tuned.

If you’re hunting for a 4K TV with fantastic picture quality and contrast, the highlight deal is on Vizio’s brand-new 65-inch OLED TV. It normally costs $2,000, but it’s $500 off until the sale ends on Sunday. This model should be on your shortlist if you need a new TV that has HDMI 2.1, which will help you get the most out of your PS5 or Xbox Series X consoles.

There’s another good deal on an OLED TV. LG’s 55-inch CX OLED TV was originally listed for $1,800, but it’s $1,400 right now at Best Buy as well as other retailers like Amazon.

You also have another chance to get the 70-inch Samsung 4K HDR smart TV for just $530, saving you $220 off the normal $750 cost. You probably won’t find a TV of this size for much less than that. You’ll find those below.

Vizio 65-inch OLED 4K TV

Prices taken at time of publishing.

Vizio’s 65-inch OLED TV first hit shelves earlier in October, but it’s already $500 off at Best Buy. You can snag one now for $1,500, which is a very aggressive price.

Image: Amazon

Amazon’s Fire TV Stick Lite streaming device is seeing its first big discount at Best Buy. It costs $30 at Amazon, but you can pick it up now for $18. Amazon claims this model has the “most processing power” of streaming devices at this price point.

The Amazon Echo Show 5 is $45 at Best Buy, matching the Prime Day deal that we saw a few weeks ago. It’s similar in design and functionality to the larger Echo Show 8, just in a smaller package that can fit on a nightstand.

If you want a more simple smart clock than a feature-packed smart display, Lenovo’s new Smart Clock Essential is down to $25 (usually $50). It has traditional segmented LEDs instead of a color touchscreen, and it features the Google Assistant.

Sony’s latest flagship wireless headphones, the WH-1000XM4, are back down to their Prime Day price of $278. This marks the lowest price we’ve seen, and it’s a great deal if you want best-in-class noise-canceling performance, along with excellent sound quality and long battery life.

Bose QuietComfort 35

Bose’s trusty QC 35 II wireless noise-canceling headphones are an excellent choice if the WH-1000XM4 are a bit too costly. They’re down to $200, a discount of $100 off their usual price. This matches the Prime Day we saw a few weeks ago.

There’s no shortage of other noise-canceling headphone deals, either. The Beats Solo Pro in dark blue, red, or light blue are $170, which makes for a big $130 price cut that beats the Prime Day deal by $10.

This deal is specifically on the spring yellow and lava red models.
Image: Beats

The Beats PowerBeats Pro wireless earphones in lava red and spring yellow are $160, beating the Prime Day deal that took them down to $175. If you’re smitten with the color, this is a great deal.

Marshall Emberton

Photo by Cameron Faulkner / The Verge

Marshall’s Emberton Bluetooth speaker recently released, and it’s $50 off at Best Buy. This is the first price drop we’ve seen, which takes it down to $100.

The Ultimate Ears MegaBoom 3 Bluetooth speaker is also just $100 at Best Buy. It usually sells for around $175, and it will offer bigger sound than Marshall’s model above.

Lenovo’s Chromebook Flex 3 is $179, which is $100 of its usual price. This model has an 11.6-inch display, 4GB of RAM, and 32GB of storage, so it’s not the most capable option on the market — though, this is a low price.

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Global Markets: Asias COVID-19 control tempers global stock selloff, U.S. futures jump – Reuters

https://www.reuters.com/article/global-markets-idUSKBN27E0B7

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SINGAPORE (Reuters) – Asia’s stock markets fell on Thursday, but without the panic selling seen in Europe and the United States, while U.S. futures jumped as investors tried to get a grip on fears that fresh lockdowns could derail a recovery from the COVID-19 pandemic.

FILE PHOTO: A man works at the Tokyo Stock Exchange after market opens in Tokyo, Japan October 2, 2020. REUTERS/Kim Kyung-Hoon

MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.6%, with the heaviest drops in Australia, down 1.6%, and South Korea, down 1%.

Japan’s Nikkei fell just 0.3%, Chinese blue chips rose 0.5% and the yuan led a gentle bounce in Asian currencies against the greenback.

That was a far cry from the biggest falls on Wall Street and in Europe in months on Wednesday, highlighting Asia’s emergence from a pandemic that has the rest of the world still mired.

Traders lifted S&P 500 futures 1% with the mood, and on hopes that spiking volatility might mean a swift rebound. European futures rose half a percent and FTSE futures rose 0.3%.

“Asia is not really partaking in this second or third wave story because it’s got its COVID largely under control,” said Rob Carnell, chief economist in Asia at Dutch bank ING.

“As a result, domestic economies look reasonable.”

As if to illustrate, Taiwan, which boasts Asia’s best-performing currency, marked its 200th straight day without local transmission on Thursday, while France and Germany prepared for lockdowns and as the virus sweeps across the U.S. Midwest.

Oil also steadied on Thursday, with Brent futures up 0.2% at $39.20 a barrel, after dropping 5% on Wednesday. [O/R][AUD/]

Still, for the week so far the commodity, often regarded as a proxy for global energy demand and growth, is down 6.2% and world stocks down 4.7%, as the pandemic worsens and a U.S. election looms.

“Until yesterday the market was travelling with the hope the improvement of health care services in dealing with the pandemic would prevent the introduction of severe lockdowns,” National Australia Bank FX strategist Rodrigo Catril said in a note.

“At least in Europe, this dynamic has now changed … the question now is whether U.S. states will follow.”

FUNDAMENTALS

Economic data and a European Central Bank meeting are the main focus later on Thursday, with gathering uncertainty about Tuesday’s U.S. election also keeping investors on edge.

The Bank of Japan made no changes to monetary policy settings, as expected, though trimmed its growth forecasts to reflect sluggish service spending during summer.

Investors expect the European Central Bank to similarly hold off on new measures, but to instead hint at action in December, which is likely to keep a lid on the euro.

The common currency hit a 10-day low on the dollar and a hundred-day low on the yen on Wednesday, before recovering slightly. It last bought $1.1752.

German unemployment and inflation data, European confidence surveys and advance U.S. GDP figures will also be closely watched – with the U.S. figure likely to show record growth, but still leave the economy behind where it began 2020.

“Any disappointment in these numbers may have a magnified market impact, given the current weakness,” said CMC Markets’ Sydney-based strategist, Michael McCarthy.

Investors are also increasingly wary of a contested U.S. election result that could unleash a wave of risk-asset selling.

Wall Street’s “fear gauge,” the Cboe Volatility Index surged on Wednesday to its highest level since June and implied currency volatility indicates that a wild ride is expected.

The U.S. bond market, however, was somnolent as investors looked past polling day and figured huge government borrowing for coronavirus relief spending will happen no matter who wins.

Benchmark U.S. 10-year yields rose overnight and added about half a basis point on Thursday to 0.7877%.

Reporting by Tom Westbrook in Singapore. Additional reporting by Pete Schroeder in Washington; Editing by Lincoln Feast.

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