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/*============================================= = Wednesday June 02 2021 = =============================================*/ U.S. stock futures are looking flat after a muted trading session overnight, with markets listless in its return from the three-day Memorial Day Weekend yesterday as investors look ahead to U.S. jobs data and for the moment appear unphased by any inflationary pressures. Markets have been gradually rising the last two-weeks, moving back near record highs for major averages on lighter volumes as we head into the summer. Some upcoming catalysts might be seen in the coming sessions, when the Labor Department releases its jobs report on Friday, before a high-profile FOMC meeting set for in mid-June. Oil prices traded near two-year highs on Wednesday after OPEC and its allies said they gradually would increase production in July as expected. On the economic calendar, investors will be eyeing the Fed’s Beige Book this afternoon. In Asian markets, The Nikkei Index rose 131 points to 28,946, the Shanghai Index fell -27 points to 3,597, and the Hang Seng Index declined -170 points to 29,297. In Europe, the German DAX is up around 20 points to 15,590, while the FTSE 100 is up a few points to 7,085. The S&P 500 and Nasdaq slipped late day as declines in healthcare and technology overshadowed energy and financial gains, as investors weighed the latest round of U.S. economic data for signs of a rebound and rising inflation. The energy sector posted its biggest one-day gain in nearly four months as oil prices rose while healthcare stocks dropped after a weak profit forecast from Abbott Labs weighed on testing and medical equipment stocks. Smallcaps outperformed again as the Russell 2000 advanced over 1% again led by energy stocks. While the S&P 500 remains less than 1% of its record high (came within 4 points of its all-time high intraday) after four straight months of gains, investors are worried about whether rising inflation could hit equity prices. Market Closing Prices Yesterday The S&P 500 Index slipped -2.08 points, or 0.05%, to 4,202.04 The Dow Jones Industrial Average climbed 46.85 points, or 0.14%, to 34,575.31 The Nasdaq Composite dipped -12.26 points, or 0.09%, to 13,736.48 The Russell 2000 Index rose 25.01 points, or 1.10% to 2,293.99 Events Calendar for Today 7:00 AM ET MBA Mortgage Applications Data 4:30 PM ET API Weekly Inventory Data Earnings Calendar Earnings Before the Open: $AAP, $DCI, $LE Earnings After the Close: $AI, $AMSC, $CLDR, $EDR, $ESTC, $GWRE, $MIND, $NCNO, $NTAP, $PVH, $SMAR, $SMTC, $SPLK, $SPTN, $SPWH Macro Up/Down Last Nymex 0.73 68.45 Brent 0.89 71.14 Gold -3.40 1,898.00 EUR/USD -0.0036 1.2177 JPY/USD 0.32 109.80 10-Year Note -0.009 1.606% Sector News Breakdown Consumer Overstock’s ($OSTK) tZERO Is Looking for a Buyer, according to CoinDesk. The company is exploring a number of options, including a SPAC merger, said tZERO VP of Investor Relations Michael Mougias. https://bit.ly/3pfoXIX Scotts Miracle-Gro ($SMG) boosts FY21 view for EPS $9.00-$9.30 (from prior $8.60-$9.00) and company-wide sales up 17%-19% vs. et. $9.15 and $4.65B, led by continued strength in both U.S. consumer and Hawthorne segments Advance Auto Parts ($AAP) Q1 adj EPS $3.34 vs. est. $3.08; Q1 sales $3.3B vs. est. $3.28B; Q1 comp sales rose 24.7%; raises FY21 revenue view to $10.4B-$10.6B from $10.2B-$10.4B and ups its FY21 comp sales view to 4%-6% from 2%-4%. AMC Entertainment ($AMC) shares looking higher by another 30% in pre-market trading, as individual traders on social media forums were unfazed after Hedge fund Mudrick Capital Management sold 8.5 million freshly issued AMC shares at a profit on Tuesday, immediately after buying them. Tesla ($TSLA) is recalling nearly 6,000 U.S. vehicles because brake caliper bolts could be loose, with the potential to cause a loss of tire pressure; the recall covers certain 2019-2021 Model 3 vehicles and 2020-2021 Model Y vehicles – in filing with the National Highway Traffic Safety Administration Energy, Industrials and Materials Donaldson ($DCI) Q3 EPS 66c vs. est. 58c; Q3 revs $765M vs. est. $707.59M; raises FY21 adj EPS view to $2.28-$2.34 vs. est. $2.21; expects full-year sales to increase between 9%-11% YoY, compared with prior guidance of between 5%-8% ProPetro Holding ($PUMP) files mixed securities shelf Orion Energy Systems ($OESX) 4Q EPS $0.04 vs. est. $0.10 on revs $35.5Mm vs. est. $39.1Mm; guides FY22 revs at least +28% vs. est. +34.3% Westport Fuel Systems ($WPRT) announces $100M offering of common shares Tellurian ($TELL) should start construction this summer on the Driftwood LNG export terminal in Louisiana, Executive Chairman Souki said RBC initiated Sector Perform ratings on Couer Mining ($CDE) with a $10 target and Pan American Silver (PAAS) Financials $SOFI was initiated with an Outperform rating and $25 price target at OpCo First Bancorp ($FBNC) to acquire Select Bancorp ($SLCT) for $18.10 per share in an all-stock transaction with a total current value of approximately $314.3 million, based on First Bancorp’s stock price as of May 28, 2021 Healthcare Amazon ($AMZN) said it will no longer screen its workers for cannabis (except for positions subject to regulation by the U.S. Department of Transportation) and will drop weed-testing requirements for recruitment as it supports a proposed U.S. legislation to legalize cannabis at the federal level (watch pot stocks $TLRY, $CGC, $CRON, $GTBIF, $CURLF) Eli Lilly ($LLY) got permission for restricted emergency use of bamlanivimab & etesevimab to treat covid-19 Edwards Lifesciences ($EW) announces that its Acumen Hypotension Prediction Index (HPI) software with the Acumen IQ finger cuff has received U.S. FDA clearance. iRhythm Technologies ($IRTC) said Mike Coyle has decided to resign from his position as president and CEO and a member of the company’s board, effective June 1, due to personal matters. Douglas Devine, the company’s CFO, has assumed the role of interim CEO while a search for a permanent CEO is conducted; reiterates Q2 guidance of ~4% sequential volume growth over Q1 Moderna, Inc. ($MRNA) entered into an agreement with Thermo Fisher Scientific (TMO) for fill/finish sterile manufacturing services and supply packaging for Moderna’s COVID-19 vaccine Invitae ($NVTA) files to sell 26.63M shares of common stock for holders Stealth Biotherapeutics ($MITO) receives orphan drug designation from the European medicine’s agency for elamipretide for the treatment of Barth syndrome ADC Therapeutics ($ADCT) files to sell 5.56M shares of common stock for holders Technology, Media & Telecom Ambarella ($AMBA) 1Q adj EPS $0.23 vs. est. $0.17 on revs $70.1Mm vs. est. $68.6Mm; guides 2Q revs $74-77Mm vs. est. $69.5Mm, adj gr margin 61-62%, adj op exp $36-37.5Mm Digital Turbine ($APPS) Q4 adj EPS 25c vs. est. 19c; Q4 revs $95.01M vs. est. $88M; sees Q1 non-GAAP EPS 31c vs. est. 21c; sees Q1 revs $188M-$192M vs. est. $101.94M; sees Q1 non-GAAP adjusted EBITDA2 $32M-$34M. Hewlett Packard Enterprises ($HPE) Q2 EPS 46c vs. est. 42c; Q2 revs $6.7B vs. est. $6.62B; raises FY21 EPS view to reflect momentum in demand to $1.82-$1.94 from $1.70-$1.88 (est. $1.84); guides Q3 EPS 38c-44c vs. est. 43c Medallia ($MDLA) raises FY22 revenue view to $566M-$570M from $563M-$567M; 1Q adj EPS ($0.08) vs. est. ($0.07) on revs $131.4Mm vs. est. $127.4Mm; guides 2Q subscription revs $113-114Mm, total revs $137-139Mm vs. est. $135.3Mm, adj loss ($12.5Mm) to ($11.5Mm); guides FY subscription revs $467-471Mm, total revs $566-570Mm vs. est. $564.7Mm Zoom Media ($ZM) Q1 adj EPS $1.32 vs. est. $0.99; Q1 res $956.2M vs. est. $906M; raises FY adj EPS view to $4.56-$4.61 from prior $3.59-$3.65 (est. $3.77); sees Q2 EPS $1.14-$1.15 vs. est. $0.94 and sees Q2 revs $985.0M-$990M vs. est. $941.6M; Q1 Number of customers contributing more than $100,000 in TTM revenue up 160% YoY; Q1 approximately 497,000 customers with more than 10 employees, up 87% YoY; Q1 free cash flow $454.2M vs. est. $280.4M
89 Replies 15 👍 13 🔥
those AMSC buyers sitting o n 50% gain already maybe Naj helped them out
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AMSC generates the ideas, technologies and solutions that meet the world's demand for smarter, cleaner … better energy™. Through its Gridtec™ Solutions, AMSC provides the engineering planning services and advanced grid systems that optimize network reliability, efficiency and performance. Through its Marinetec™ Solutions, AMSC provides ship protection systems and is developing propulsion and power management solutions designed to help fleets increase system efficiencies, enhance power quality and boost operational safety. Through its Windtec™ Solutions, AMSC provides wind turbine electronic controls and systems, designs and engineering services that reduce the cost of wind energy. The Company's solutions are enhancing the performance and reliability of power networks, increasing the operational safety of navy fleets, and powering gigawatts of renewable energy globally. Founded in 1987, AMSC is headquartered near Boston, Massachusetts with operations in Asia, Australia, Europe and North America.
CEO: Daniel McGahn
HQ: 60 Jackson Rd Devens, 01434-4020 Massachusetts