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(11/8) Tuesday’s Pre-Market Stock Movers & News : stocks

by Index Investing News
November 8, 2022
in Stocks
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Good morning traders and investors of the r/stocks sub! Welcome to Tuesday! Here are your pre-market stock movers & news on this Tuesday, November the 8th, 2022-


Stock futures were slightly higher Tuesday following a winning day for markets as investors looked ahead to U.S. midterm elections.


Futures tied to the Dow Jones Industrial Average rose 52 points, or 0.16%. S&P 500 futures were up 0.18%. Nasdaq 100 futures gained 0.47%.


Shares of Lyft fell nearly 20% premarket while Take-Two Interactive and Tripadvisor slumped more than 18% each after reporting disappointing quarterly results.


The moves come after a day when all major indexes notched a second straight positive session. The Dow Jones Industrial Average closed higher by 423.78 points, or 1.31%. Meanwhile, the S&P 500 gained 0.96%, and the Nasdaq Composite rose 0.85%.


Investors are awaiting Tuesday’s midterm election results. They will determine which party controls Congress and steer future policy and spending. Market participants will watch whether Republicans take back the House of Representatives, the Senate or both.


“The financial market reaction to a Republican win should be muted, as the House outcome is already widely expected, and the Senate outcome makes less of a difference to policy outcomes if Republicans control the House,” Goldman Sachs’ Jan Hatzius wrote in a Monday note.


“A surprise Democratic win in the House and Senate would likely weigh on equities, as market participants might expect additional corporate tax increases,” Hatzius added.


Wall Street will also closely watch Thursday’s consumer price index report for the latest data on how much the Federal Reserve’s interest rate hikes have tamed high inflation. This reading could also signal the central bank’s path forward – another hotter-than-anticipated report could embolden the Fed to raise rates aggressively in December.


Earnings season continues this week. On Tuesday, Lordstown Motors, Lucid Group, Walt Disney and AMC Entertainment all report their latest quarterly results.


STOCK FUTURES CURRENTLY:


YESTERDAY’S MARKET MAP:


TODAY’S MARKET MAP:


YESTERDAY’S S&P SECTORS:


TODAY’S S&P SECTORS:


TODAY’S ECONOMIC CALENDAR:


THIS WEEK’S ECONOMIC CALENDAR:


THIS WEEK’S UPCOMING IPO’S:


THIS WEEK’S EARNINGS CALENDAR:


THIS MORNING’S PRE-MARKET EARNINGS CALENDAR:


EARNINGS RELEASES BEFORE THE OPEN TODAY:


EARNINGS RELEASES AFTER THE CLOSE TODAY:


YESTERDAY’S ANALYST UPGRADES/DOWNGRADES:


YESTERDAY’S INSIDER TRADING FILINGS:


TODAY’S DIVIDEND CALENDAR:


THIS MORNING’S STOCK NEWS MOVERS:


Take-Two Interactive (TTWO) – Take-Two tanked 17.4% in the premarket after the videogame publisher cut its bookings outlook for the year. Take-Two has been impacted by weaker mobile and in-game sales, although CEO Strauss Zelnick said the situation should improve within the next three to six months.

STOCK SYMBOL: TTWO


Lyft (LYFT) – Lyft sank 17.3% in premarket action after its latest quarterly report showed slowing revenue growth and ridership levels that remain below pre-pandemic levels. The ride-hailing service did, however, report better-than-expected earnings for its latest quarter.

STOCK SYMBOL: LYFT


TripAdvisor (TRIP) – TripAdvisor shares plummeted 20.8% in premarket trading after the travel website operator’s quarterly earnings came in below Wall Street forecasts. TripAdvisor said currency fluctuations had a meaningful negative impact on revenue and that travel demand remains strong.

STOCK SYMBOL: TRIP


Lordstown Motors (RIDE) – Lordstown shares rallied 14.6% in the premarket following news that contract manufacturer Foxconn will invest up to $170 million in the electric vehicle maker and become its largest shareholder.

STOCK SYMBOL: RIDE


DuPont (DD) – DuPont rallied 3.7% in the premarket after the industrial materials maker beat top and bottom line estimates for the third quarter. DuPont’s upbeat results came despite higher costs for raw materials and energy.

STOCK SYMBOL: DD


Coty (COTY) – The cosmetics company reported earnings that matched Wall Street estimates, with revenue slightly above analysts’ forecasts. Demand for Coty’s products held up despite higher prices, although it did take a hit from a stronger U.S. dollar. Coty rallied 3.2% in premarket trading.

STOCK SYMBOL: COTY


Planet Fitness (PLNT) – The fitness center operator’s stock surged 7.1% in the premarket after its quarterly revenue and profit beat Wall Street estimates and it raised its full-year forecast. Its membership reached record highs during the quarter, with members visiting more frequently.

STOCK SYMBOL: PLNT


Perrigo (PRGO) – The over-the-counter drug and health products maker fell short on both the top and bottom lines for its latest quarter, and it also lowered its full-year forecast. Labor shortages and a stronger U.S. dollar were among the factors weighing on Perrigo’s results. Its stock slid 3.2% in premarket trading.

STOCK SYMBOL: PRGO


Qiagen (QGEN) – Qiagen gained 3.4% in premarket trading after the biotech company raised its full-year outlook, pointing to particular strength in its non-Covid product portfolio.

STOCK SYMBOL: QGEN


Medtronic (MDT) – Medtronic fell 5.5% in premarket action following the release of study results involving a device aimed at tough-to-treat hypertension. The device did reduce blood pressure in patients, but only slightly more than medications to treat the ailment.

STOCK SYMBOL: MDT


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/stocks?


I hope you all have an excellent trading day ahead today on this Tuesday, November 8th, 2022! 🙂



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