Here are 10 things you should know for Thursday, April 7:
1. -- U.S. stock futures were suggesting Wall Street would open lower Thursday after equities popped during the previous session after minutes from the Federal Reserve's meeting in March indicated there likely won't be a rates increase this month.
European stocks rose, led higher by health care stocks. Asian shares closed mixed on Thursday.
Oil prices in the U.S. fell 0.2% to $37.66 a barrel.
2. -- The economic calendar in the U.S. Thursday includes weekly Initial Jobless Claims at 8:30 a.m. EDT, and Consumer Credit for February at 3 p.m.
3. -- U.S. stocks on Wednesday surged as minutes from the Fed's meeting in March showed officials debated an interest rate hike in April, but erred on the side of caution as they left interest rates unchanged and lowered the outlook for increases this year to two from four.
The S&P 500 rose 1.1% on Wednesday, the Dow Jones Industrial Average gained 0.64%, and the Nasdaq rose 1.6%.
1. -- U.S. stock futures were suggesting Wall Street would open lower Thursday after equities popped during the previous session after minutes from the Federal Reserve's meeting in March indicated there likely won't be a rates increase this month.
European stocks rose, led higher by health care stocks. Asian shares closed mixed on Thursday.
Oil prices in the U.S. fell 0.2% to $37.66 a barrel.
2. -- The economic calendar in the U.S. Thursday includes weekly Initial Jobless Claims at 8:30 a.m. EDT, and Consumer Credit for February at 3 p.m.
3. -- U.S. stocks on Wednesday surged as minutes from the Fed's meeting in March showed officials debated an interest rate hike in April, but erred on the side of caution as they left interest rates unchanged and lowered the outlook for increases this year to two from four.
The S&P 500 rose 1.1% on Wednesday, the Dow Jones Industrial Average gained 0.64%, and the Nasdaq rose 1.6%.
4. -- Yahoo! (YHOO - Get Report) estimated that revenue in 2016 would drop close to 15% and earnings would decline by more than 20%, Re/code reported.
Revenue, backing out traffic acquisition costs, is expected to decline from $4.4 billion in 2014 and $4.1 billion in 2015 to $3.5 billion in 2016, Re/code reported, citing some pages from the "book" that Yahoo! bankers has given out to prospective buyers. Earnings before depreciation, taxes and amortization are moving from $1.4 billion in 2014 and just below $1 billion in 2015 to $750 million in 2016.
Yahoo! also expects to have about 9,000 employees at the end of 2016 -- down from 12,500 in 2014 and 10,500 in 2015,Re/code reported.
5. -- JPMorgan Chase (JPM) CEO Jamie Dimon told shareholders in his annual letter Wednesday that only global banks can meet the needs of global clients, from multinational conglomerates to government institutions and central banks. On an average day, the largest U.S. bank moves $5 trillion for such clients and raises or lends $6 billion for them, he said.
Revenue, backing out traffic acquisition costs, is expected to decline from $4.4 billion in 2014 and $4.1 billion in 2015 to $3.5 billion in 2016, Re/code reported, citing some pages from the "book" that Yahoo! bankers has given out to prospective buyers. Earnings before depreciation, taxes and amortization are moving from $1.4 billion in 2014 and just below $1 billion in 2015 to $750 million in 2016.
Yahoo! also expects to have about 9,000 employees at the end of 2016 -- down from 12,500 in 2014 and 10,500 in 2015,Re/code reported.
5. -- JPMorgan Chase (JPM) CEO Jamie Dimon told shareholders in his annual letter Wednesday that only global banks can meet the needs of global clients, from multinational conglomerates to government institutions and central banks. On an average day, the largest U.S. bank moves $5 trillion for such clients and raises or lends $6 billion for them, he said.
Dimon also said the biggest U.S. banks may not be as big as you think: The assets of all U.S. banks represent a much smaller portion of the economy than comparable firms in other developed countries.
"Our large and diversified earnings streams and good margins create a strong base of earnings that can withstand many different crises," Dimon wrote in the letter. "This strength is what allows us to invest in countries to support our clients and to have the staying power to survive tough times."
6. -- Samsung Electronics (SSNLF) reported better-than-expected operating profit for the first quarter, which likely was driven by strong sales of its flagship Galaxy S7 smartphones that made an early global debut at cheaper prices.
The South Korean tech giant put its January-March operating profit at 6.6 trillion won ($5.7 billion) in its earnings preview. That represents a 10% gain from 6 trillion won a year earlier.
Analysts forecast operating profit of 5.5 trillion won.
Sales rose 4% from a year earlier to 49 trillion won, which was in line with expectations.
Sales of Samsung's flagship Galaxy S7 smartphones were likely much better than expected amid the absence of new devices from major competitors, the Associated Press reported. Analysts revised their first-quarter sales forecasts for the Galaxy S7 smartphones sharply higher to about 10 million units from 5 million to 7 million units.
7. -- Valeant Pharmaceuticals (VRX) secured a commitment from loan holders to amend terms of its debt, buying time as the drugmaker attempts to resuscitate itself, The Wall Street Journal reported.
7. -- Valeant Pharmaceuticals (VRX) secured a commitment from loan holders to amend terms of its debt, buying time as the drugmaker attempts to resuscitate itself, The Wall Street Journal reported.
Valeant convinced holders of more than half of its loans, by principal amount, to push back regulatory filing deadlines and loosen financial conditions on the loans, people familiar with the matter told the Journal.
Valeant agreed to pay a fee of $50,000 per $10 million of loans to lenders for the amendment and to boost interest rates on the debt by 1 percentage point, though the rate could drop back if Valeant achieves certain financial targets, the people said.
The drugmaker, which has been struggling with business and accounting issues, said last month that while it intended to file its annual report within the requirements of its lending agreements, it might miss a deadline, which could allow lenders to accelerate loan payments, the Journal noted.
:
8. -- Alphabet's (GOOGL) Google expanded its testing of self-driving cars to the Phoenix metro area, making it the fourth U.S. city to serve as a proving ground for the autonomous vehicles, Reuters reported.
Alphabet is a holding in Jim Cramer's Action Alerts PLUS portfolio.
9. -- The Food and Drug Administration approved a mini pacemaker from Medtronic (MDT) that does away with electrical wires that have long been a shortcoming of internal heart devices.
:
8. -- Alphabet's (GOOGL) Google expanded its testing of self-driving cars to the Phoenix metro area, making it the fourth U.S. city to serve as a proving ground for the autonomous vehicles, Reuters reported.Alphabet is a holding in Jim Cramer's Action Alerts PLUS portfolio.
9. -- The Food and Drug Administration approved a mini pacemaker from Medtronic (MDT) that does away with electrical wires that have long been a shortcoming of internal heart devices.
The one-inch Micra Transcatheter Pacing System works like older pacemakers to control irregular heartbeats, but doesn't use the wires that traditionally connect the device's generator to the heart. Instead, the pacemaker is implanted directly into the heart's lower-right chamber, which pumps blood to the lungs.
10. -- Earnings are expected Thursday from ConAgra Foods (CAG - Get Report) , Carmax (KMX - Get Report) , RiteAid (RAD - Get Report) and Ruby Tuesday (RT - Get Report) .
By Joseph Woelfel
No comments:
Post a Comment