My top 10 things to watch on Tuesday, February 7
1. He Dowhe S&P 500 and the nasdaq head for a quiet opening ahead of Fed Chairman Jerome Powell’s lunchtime speech at the Economic Club in Washington DC Nearly a week ago, the Fed raised interest rates less aggressively, and Powell, at the time, he made what was perceived as moderate comments. Then, on Friday, the jobs report was a blockbuster.
2. Activision Blizzard (ATVI) versus take two interactive (TTWO) – The latter blames the macro environment, while the former just had a good quarter. The “Call of Duty” video game is a behemoth and a major regulatory concern at the heart of Club Holding. Microsoft(MSFT) proposed purchase of Activision.
3. Embattled bed bath and beyond (BBBY) takes advantage of memesters, which may have saved another company. The shares, which nearly doubled on Monday, fell more than 30% early Tuesday after the retailer announced a more than $1 billion share offering. Wedbush lowers its BBBY price target to zero and maintains its underperform (sell) rating.
4. pinterest (PINS) gets many target price increases on Wall Street due to cost cuts, video and buying. But there is no real growth. Most of the Internet has no real growth. Fourth quarter EBITDA (earnings before interest, taxes, depreciation and amortization) improved. Loss of income. The repurchase of shares for $500 million was authorized in the next 12 months.
5. Boeing (BA) to cut some 2,000 jobs in finance and human resources. However, the planemaker, which recently moved its headquarters to northern Virginia, just outside of DC, expects to “significantly increase” the overall workforce by 2023.
6. dupont (DD) exceeds fourth-quarter adjusted earnings per share and revenue-matches. But it puts first-quarter EBITDA guidance at $710 million versus $762 million expected. Announced a first quarter dividend increase of 9%. CEO Ed Breen will work at will after 2024, according to the SEC filing. He replaces Breen’s existing employment contract dated December 2020.
7. hertz (HTZ) outperformed fourth-quarter earnings per share and adjusted income. Corporate demand was up 28% in January compared to last year, rideshares were up 98% and international rides were up 56%.
8. Morgan Stanley Fees molson coors (TOUCH) an equal weight or hold. I don’t know if the brewer can grow sustainability. we like and own constellation marks (STZ) for its portfolio of Mexican beers.
9. Chegg (CHGG) reports a lousy quarter but can’t bear to say it. The learning platform actually blamed the lack of rigor in the classes. The stock plunges roughly 20% early Tuesday.
10 shoe drawer (FL) initiated with a buy rating on BTIG. The wonders of the new CEO Mary Dillon.
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