Stocks that are expected to trade actively in U.S. markets on Thursday include: Exxon Mobil Corporation (NYSE:XOM), The New York Times Company (NYSE:NYT), Expedia Inc (NASDAQ:EXPE), Crocs, Inc. (NASDAQ:CROX) and MasterCard Inc (NYSE:MA).
U.S.: DJIA 15618.76 (-0.39%), S&P 500 1,763.31 (-0.49%), NASDAQ 3,930.62 (-0.55%).
Europe: FTSE 6,750.01 (-0.41%), DAX 8,988.88 (-0.24%), CAC 40 4,262.19 (-0.28%).
Electron Capital Partners' flagship Electron Global Fund returned 5.1% in the first quarter of 2021, outperforming its benchmark, the MSCI World Utilities Index by 5.2%. Q1 2021 hedge fund letters, conferences and more According to a copy of the fund's first-quarter letter to investors, the average net exposure during the quarter was 43.0%. At the Read More
Asia Pacific: NIKKEI 14327.94 (-1.20%), SHANGHAI 2,141.61 (-0.87%), HSI 23206.37(-0.42%), ASX 200 5,245.50 (-0.10%), KOSPI 2030.09 (-1.43%).
Commodities: Oil 96.79 (0.02%), NAT GAS 3.632 (0.33%), Gold 1,334.20 (-1.12%), Silver 22.32 (-2.88%), Wheat 674.00 (-0.15%), Corn 432.75 (0.58%).
Currency: EUR/USD 1.37 (-0.25%), GBP/USD 1.6024 (-0.07%), USD/JPY 98.29 (-0.20%).
10 year Treasury bond: 2.525 (-0.019)
Market & Economic Update
U.S. market may open lower: On Thursday, U.S. stock-index futures and gold were down owing to expectations that Fed may intervene with stimulus sooner than previously expected. At 10:05 a.m. in London, Standard & Poor’s 500 Index futures were down 0.3%, signaling a lower opening.
European market down: The shares on the European exchange fell on Thursday from their five year high owing to Federal Reserve’s unexpected statement signaling rolling back of stimulus, sooner than expected. At 0843 GMT, FTSEurofirst 300 index fell 0.2% at 1285.53 points after registering a five year high in the last session.
Asian markets also down: The Nikkei declined 1.2% to 14,327.94, owing to unimpressive corporate earnings from the likes of Toshiba Corp, which lost 5.2%. The Hong Kong exchange closed low at 0.4%, but for the month it was up 1.5% at 23,206.4 points. Thursday’s drop was led by weak earnings from Industrial and Commercial Bank of China.
Stocks in News
Exxon Mobil Corporation (NYSE:XOM)
A survey by FactSet revealed that Exxon Mobil Corporation (NYSE:XOM) is expected to announce the third quarter earnings of $1.77 a share. On Wednesday, the top management announced fourth quarter dividend of 63 cent a share, which is same as in the third quarter. Shareholders will be paid a dividend on December 10.
The New York Times Company (NYSE:NYT)
For the third quarter, The New York Times Company (NYSE:NYT) is expected to report a loss of 3 cents a share. Last week, the media group executed a sale of New England Media Group for $70 million to a company owned by John Henry. The proceeds will be used for general corporate purposes, as told by the New York Times.
Expedia Inc (NASDAQ:EXPE)
Expedia Inc (NASDAQ:EXPE) third quarter profit jumped to $1.22 a share from last year’s $1.20 a share. Earnings climbed 8% to $1.43 a share on an adjusted basis, beating the Wall Street’s projection of $1.36 a share of. In after hours of trading, shares of Expedia gained 14%.
Crocs, Inc. (NASDAQ:CROX)
Crocs, Inc. (NASDAQ:CROX) reported that, in the third quarter, it earned 18 cents a share on an adjusted basis, which is near to analyst’s expectation of 19 cents a share. The management increased the existing stock buyback plan by 15 million shares. The company’s stock rose 0.2% in after hours of trading.
MasterCard Inc (NYSE:MA)
For the third quarter, MasterCard Inc (NYSE:MA) is expected to report earnings of $6.94 a share. Owing to low operating expense growth and lower rebate assumption, analysts at JP Morgan believed that the earnings may beat the consensus estimate.