Stocks In Focus In Premarket Trading

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INDUSTRIAL EARNINGS TAKE CENTER STAGE IN THIRD QUARTER WITH TRADE, ECONOMY IN FOCUS U.S. OUTLINES ‘PHASE 1’ TRADE DEAL WITH CHINA, SUSPENDS OCTOBER TARIFF HIKE TRUMP SAYS CHINA TRADE TALKS ARE GOING VERY WELL STOCKS SLIDE, SAFE ASSETS GAIN ON ANXIETY OVER TRADE TALKS POWELL SAYS THE FED WILL START EXPANDING ITS BALANCE SHEET ‘SOON’ IN RESPONSE TO FUNDING ISSUES NO-DEAL BREXIT LIKELY TO PUSH UK BUDGET DEFICIT TO 100 BILLION POUNDS – IFS CHINA IS REPORTEDLY RELUCTANT TO AGREE TO A BROAD US TRADE DEAL WITH TALKS SET TO RESTART FED POLICYMAKERS ‘OPEN’ TO RATE CUT AS RISKS TO OUTLOOK RISE THE DOW DROPPED MORE THAN 800 POINTS IN TWO DAYS GLOBAL SHARES AT ONE-MONTH LOW ON U.S. MANUFACTURING SHOCK

Stocks In Focus In Premarket Trading

Stocks In Focus In Premarket Trading

 

  • Morgan Stanley (NYSE:MS) was up 2.3% by 8:15 AM ET (12:15 GMT) after its revenue fell less than expected in a weak quarter that also saw a 9% drop in profit.

 

  • Netflix (NASDAQ:NFLX) stock rose 2.5% after the streaming company added a record number of subscribers in the first quarter. That overshadowed a forecast for second-quarter earnings that was below consensus.

 

  • Qualcomm (NASDAQ:QCOM) stock rose another 10.5% after surging 23% on Tuesday in response to its patent settlement with Apple (NASDAQ:AAPL). Analysts point out that it could also now settle a similar dispute with Huawei, further boosting its earnings potential.

 

  • PepsiCo (NASDAQ:PEP) jumped 1.6% after it topped analysts’ estimates, organic revenue growing by 5.2% during the first quarter. It reported earnings per share of $0.97 on $12.88 billion in revenue.

 

  • Sprint (NYSE:S) slumped 7.2% after The Wall Street Journal reported that the Department of Justice is unlikely to approve its merger with T-Mobile (NASDAQ:TMUS) due to antitrust concerns. Verizon (NYSE:VZ) was also down 0.2% and AT&T (NYSE:T) down 0.3% on fears that the lack of consolidation in the sector may continue to pressure margins.

 

  • ABB (NYSE:ABB) skyrocketed 5.5% after it announced its CEO Ulrich Spiesshofer is leaving and will be replaced by Chairman Peter Voser on an interim basis.

 

  • Boeing (NYSE:BA) inched up 0.4% as proxy advisory firms ISS and Glass Lewis are pushing for the airline maker to separate the roles of chairman and CEO, after two of its 737 Max planes crashed.

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