4 months (3/18) Friday’s Pre-Market Stock Movers & News Reddit      

Good Friday morning traders and investors of the r/StockMarket sub! Welcome to the final trading day of this week. Here are your pre-market movers & news this AM-


Stock futures fall as S&P 500 tries to notch best week since November 2020


Stock futures fell Friday following a three-day rally for the S&P 500 that put the equity benchmark on pace for its biggest weekly gain in more than a year.


Futures on the Dow Jones Industrial Average fell 215 points. S&P 500 futures were down 0.7% along with Nasdaq 100 futures.


Shares of FedEx fell more than 3% in premarket trading after the U.S. delivery firm posted a lower-than-expected quarterly profit amid labor shortages, while the pandemic also hurt its holiday revenue growth.


GameStop saw its shares dropping about 7% in extended trading after the video game retailer reported an unexpected loss during the holiday quarter. The company said it will launch a new marketplace for non-fungible tokens, or NFTs, by the end of April.


Friday’s moves come as traders digest the latest developments in the Ukraine-Russia war.


Several missiles hit an aircraft repair center on the outskirts Lviv in western Ukraine. Meanwhile, President Joe Biden is slated to speak with Chinese President Xi Jinping to discuss the conflict. A Ukrainian official also said one person was killed in an airstrike that hit Kyiv. (Click here for live updates.)


Stocks have enjoyed a relief rally this week as the Federal Reserve’s decision to tighten policy largely met investor expectations. The S&P 500 has gained for three consecutive days this week, up 4.9%, on track for its best week since November 2020.


The blue-chip Dow is coming off a four-day winning streak, rising 4.7% for the week so far, and is also on pace for its biggest weekly gain since November 2020. The tech-heavy Nasdaq Composite is up 6% this week, headed for its best week since February 2021.


Earlier this week, the central bank hiked its benchmark interest rate for the first time since 2018 and signaled six more hikes this year.


“Fortunately, investor expectations for inflation over the next five years was brought down quite a bit, which, if sustained, will continue [to] be helpful for the Fed and the markets despite somewhat higher interest rates,” said John Vail, chief global strategist at Nikko Asset Management.


STOCK FUTURES CURRENTLY:

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YESTERDAY’S MARKET MAP:

(CLICK HERE FOR YESTERDAY’S MARKET MAP!)

TODAY’S MARKET MAP:

(CLICK HERE FOR TODAY’S MARKET MAP!)

YESTERDAY’S S&P SECTORS:

(CLICK HERE FOR YESTERDAY’S S&P SECTORS CHART!)

TODAY’S S&P SECTORS:

(CLICK HERE FOR TODAY’S S&P SECTORS CHART!)

TODAY’S ECONOMIC CALENDAR:

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NEXT WEEK’S ECONOMIC CALENDAR:

(CLICK HERE FOR NEXT WEEK’S ECONOMIC CALENDAR!)

NEXT WEEK’S UPCOMING IPO’S:

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NEXT WEEK’S EARNINGS CALENDAR:

([CLICK HERE FOR NEXT WEEK’S EARNINGS CALENDAR!]())

(T.B.A. THIS WEEKEND.)


THIS MORNING’S PRE-MARKET EARNINGS CALENDAR:

([CLICK HERE FOR THIS MORNING’S EARNINGS CALENDAR!]())

(N/A.)


EARNINGS RELEASES BEFORE THE OPEN TODAY:

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EARNINGS RELEASES AFTER THE CLOSE TODAY:

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YESTERDAY’S ANALYST UPGRADES/DOWNGRADES:

(CLICK HERE FOR YESTERDAY’S ANALYST UPGRADES/DOWNGRADES LINK #1!)
(CLICK HERE FOR YESTERDAY’S ANALYST UPGRADES/DOWNGRADES LINK #2!)

YESTERDAY’S INSIDER TRADING FILINGS:

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TODAY’S DIVIDEND CALENDAR:

(CLICK HERE FOR TODAY’S DIVIDEND CALENDAR LINK #1!)
(CLICK HERE FOR TODAY’S DIVIDEND CALENDAR LINK #2!)
(CLICK HERE FOR TODAY’S DIVIDEND CALENDAR LINK #3!)

THIS MORNING’S MOST ACTIVE TRENDING TICKERS ON STOCKTWITS:

  • GME
  • STNE
  • GOLD
  • ALLG
  • FDX
  • AA
  • VXRT
  • JKS
  • RXRX
  • BA

THIS MORNING’S STOCK NEWS MOVERS:

(source: cnbc.com)

FedEx (FDX) – FedEx earned an adjusted $4.59 per share for its latest quarter, missing estimates by 5 cents, though the delivery service’s revenue beat analyst forecasts. FedEx’s bottom line was impacted by worker shortages stemming from the Covid-19 omicron variant outbreak during the quarter. FedEx lost 3.1% in the premarket.

STOCK SYMBOL: FDX

(CLICK HERE FOR LIVE STOCK QUOTE!)

GameStop (GME) – GameStop reported an unexpected quarterly loss, even as the videogame retailer’s revenue topped estimates. GameStop CEO Matt Furlong said the omicron variant and supply chain issues had a significant impact on results during the holiday season. GameStop slid 7.6% in the premarket.

STOCK SYMBOL: GME

(CLICK HERE FOR LIVE STOCK QUOTE!)

U.S. Steel (X) – U.S. Steel shares fell 3.6% in premarket trading after the company issued weaker-than-expected guidance for the current quarter. The company cited increasing raw materials costs, among other factors.

STOCK SYMBOL: X

(CLICK HERE FOR LIVE STOCK QUOTE!)

Moderna (MRNA) – Moderna is seeking FDA approval for a second booster shot of its Covid-19 vaccine for adults aged 18 and older. The submission comes a day after Pfizer (PFE) and partner BioNTech (BNTX) asked the FDA to approve a second booster for people 65 years and older. Moderna gained 1% in premarket action.

STOCK SYMBOL: MRNA

(CLICK HERE FOR LIVE STOCK QUOTE!)

Boeing (BA) – The jet maker is in talks with Delta Air Lines (DAL) for a 737 MAX 10 jet order of up to 100 aircraft, according to people familiar with the matter who spoke to Reuters.

STOCK SYMBOL: BA

(CLICK HERE FOR LIVE STOCK QUOTE!)

Joann (JOAN) – The crafts retailer’s shares tumbled 8.3% in the premarket after it missed quarterly sales expectations and noted a $60 million increase in ocean freight costs for 2021. Joann said the freight increase was among a number of significant supply chain headwinds and disruptions.

STOCK SYMBOL: JOAN

(CLICK HERE FOR LIVE STOCK QUOTE!)

Wingstop (WING) – The restaurant chain’s stock slid 4.7% in premarket trading after a double downgrade by Piper Sandler to “underweight” from “overweight.” Piper said it will be more difficult for Wingstop to keep a premium valuation during a restaurant industry expansion cycle as higher expenses hit earnings.

STOCK SYMBOL: WING

(CLICK HERE FOR LIVE STOCK QUOTE!)

Rent The Runway (RENT) – The fashion rental company’s stock rallied 4.2% in premarket action after Jefferies began coverage with a “buy” rating. The firm said Rent The Runway’s extensive offerings and high barrier to entry are among the factors that will drive top-line growth of as much as 50%.

STOCK SYMBOL: RENT

(CLICK HERE FOR LIVE STOCK QUOTE!)

SolarEdge Technologies (SEDG) – The solar equipment and software producer’s 2 million shares offering was priced at $295 per share, compared with Thursday’s close of $314.60. SolarEdge slid 3.4% in the premarket.

STOCK SYMBOL: SEDG

(CLICK HERE FOR LIVE STOCK QUOTE!)

FULL DISCLOSURE:

/u/bigbear0083 has no positions in any stocks mentioned. Reddit, moderators, and the author do not advise making investment decisions based on discussion in these posts. Analysis is not subject to validation and users take action at their own risk.


DISCUSS!

What’s on everyone’s radar for today’s trading day ahead here at r/StockMarket?


I hope you all have an excellent trading day ahead today on this Friday, March 18th, 2022! 🙂

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