Amazon shares are on the rise after earnings
U.S. stock futures are mixed this morning, as traders digest economic and earnings data. Most notably, second-quarter gross domestic product (GDP) matched expectations by rising 4.1%, marking the fastest quarterly growth rate since 2014. For earnings, Amazon (AMZN) is set to jump after reporting record quarterly profits, putting the company closer to a trillion-dollar market cap, while social media stock Twitter (TWTR) is selling off in pre-market action due to a big drop in monthly users. Meanwhile, Dow Jones Industrial Average (DJI) components Intel (INTC), Chevron (CVX), and Exxon Mobil (XOM) are all trading lower after earnings
Continue reading for more on today's market, including:
- Why Nielsen shares could see their ratings on Wall Street fall in a hurry.
- This REIT stock could rebound soon.
- Plus, First Solar could breach a key level; Chipotle eyes a new high; and not much luck for Starbucks.
5 Things You Need to Know Today
- The Chicago Board Options Exchange (CBOE) saw 1.19 million call contracts traded on Thursday, compared to 748,780 put contracts. The single-session equity put/call ratio moved up to 0.63, while the 21-day moving average stayed at 0.62.
- First Solar, Inc.'s (NASDAQ:FSLR) second-quarter results fell short of Wall Street's expectations, sending the shares almost 8% lower in pre-market trading and putting them in danger of closing below the $50 level. FSLR stock was already down 20.5% year-to-date coming into today.
- Chipotle Mexican Grill, Inc. (NYSE:CMG) is up more than 6% before the open, after the company topped most major metrics with its second-quarter results and full-year outlook. Such a move would have CMG shares near a fresh 52-week high.
- On the other hand, a fiscal third-quarter earnings beat is failing to lift Starbucks Corporation (NASDAQ:SBUX), as investors instead focus on tepid sales growth and a weak outlook. SBUX has also been hit with at least three price-target cuts following the results, as the coffee stock continues to struggle.
- The University of Michigan's consumer sentiment index and the Baker-Hughes rig count come out today, too. A busy week of earnings wraps up with Merck (MRK), AbbVie (ABBV), and Phillips 66 (PSX). Looking ahead, earnings from Apple (AAPL) and Tesla (TSLA) headline next week's schedule.
Positive Sessions For Asian, European Equities
It was a mostly higher finish in Asia today, as the U.S. dollar strengthened against its global currency peers ahead of today's GDP data. Japan's Nikkei led the charge, adding 0.6%, while Hong Kong's Hang Seng rose 0.08%, and South Korea's Kospi added 0.3%. China's Shanghai Composite wasn't so resilient, though, settling the session down 0.3%.
European markets are higher at midday, as traders digest the latest U.S. GDP and mining stocks rally on news BHP Billiton will sell its oil and gas assets to BP. A positive earnings reaction for grocery name Carrefour is also lifting investor sentiment -- and offseting a lower-than-expected reading on French second-quarter GDP. At last check, the German DAX and London's FTSE 100 are each sporting a 0.4% gain, while France's CAC 40 is flirting with a 0.3% lead.