After the 1.3 percent surge in the main indexes, the U.S. stock futures—along with the European stock market—are now taking a step back. Here are some noteworthy events before the ringing of the opening bell in New York:
1. Staples and Office Depot shares are hurting in pre-market trading because of their decision to call off their merger. Last year, the Federal Trade Commission stated that antitrust laws would be violated if the two companies combine because they would own a big part of the office supply retail market.
2. Disney wasn’t able to achieve expectations as it revealed its second quarter results. This could lead to a slumping of its shares and a dragging down of earnings in the company’s cable networks, parks, and resorts. Fossil Group shares are also set to crash after the company has stated that earnings were disappointing and that the strength of the U.S. dollar was negatively affecting sales. Video games developer Electronic Arts (EA), on the other hand, is looking for a rise in its shares after reporting that earnings exceeded expectations.
3. The world’s biggest automobile maker, Toyota, is estimating an $8.6 billion hit to its revenue because the Japanese yen has been gaining a better foothold. After the closing of Japan’s stock market, Toyota has forecasted that its operating profits will drop 40 percent in the current financial year.
4. Among the main companies that will be releasing quarterly results before the opening are Wendy’s and Macy’s.
Mack Prioleau studies at Vanderbilt University, majoring in Economics with minors in Corporate Strategy and Financial Economics. For more insights about finance and economies, subscribe to this blog.
1. Staples and Office Depot shares are hurting in pre-market trading because of their decision to call off their merger. Last year, the Federal Trade Commission stated that antitrust laws would be violated if the two companies combine because they would own a big part of the office supply retail market.
Image source: mastimirchi.com
2. Disney wasn’t able to achieve expectations as it revealed its second quarter results. This could lead to a slumping of its shares and a dragging down of earnings in the company’s cable networks, parks, and resorts. Fossil Group shares are also set to crash after the company has stated that earnings were disappointing and that the strength of the U.S. dollar was negatively affecting sales. Video games developer Electronic Arts (EA), on the other hand, is looking for a rise in its shares after reporting that earnings exceeded expectations.
3. The world’s biggest automobile maker, Toyota, is estimating an $8.6 billion hit to its revenue because the Japanese yen has been gaining a better foothold. After the closing of Japan’s stock market, Toyota has forecasted that its operating profits will drop 40 percent in the current financial year.
Image source: cleartrade.com
4. Among the main companies that will be releasing quarterly results before the opening are Wendy’s and Macy’s.
Mack Prioleau studies at Vanderbilt University, majoring in Economics with minors in Corporate Strategy and Financial Economics. For more insights about finance and economies, subscribe to this blog.
Not a good news for Disney..
ReplyDeleteWow! That's a big revenue Toyota!
ReplyDeleteThe value of dollar can greatly affect the sales.
ReplyDelete