Lackluster Market Going Thru Motions
Video: Preview the day’s action on Wall Street before the opening bell with the Morning Report as Lackluster Market Going Thru Motions. Dow, Nasdaq and S&P futures are flat. Crude is also flat on the morning.
Dull trading nonetheless re-writing record books
Here are some Morning Headlines:
U.S. stock futures were higher this morning after the S&P 500 and Nasdaq eked out new record closes. The Dow logged its highest closing level since the March 1 high. Meanwhile, Wall Street’s fear gauge, the VIX, sank to its lowest level in more than a decade. (CNBC)
Earnings out this morning include the quarterly numbers from Allergan (AGN), Discovery (DISCA), and Valeant (VRX). Dow component Walt Disney (DIS) leads this afternoon’s after-the-bell results. (CNBC)
Dow stock Apple (AAPL) was higher in the premarket after Monday’s rally pushed the tech stock over $800 billion in market value for the first time. Warren Buffett praised the company in a CNBC interview Monday. (CNBC)
Here is this week’s earnings calendar provided by Earnings Whispers as Lackluster Market Going Thru Motions.
The following are brief summaries of the companies reporting earnings this morning and yesterday with Disney, Priceline.com and chip maker Nvidia coming this afternoon.
Valeant Pharmaceuticals — The Canadian drugmaker reported a profit for its latest quarter, compared to a year-ago loss, helped by a one-time tax benefit. It also raised its full-year earnings forecast. (CNBC)
Allergan — The Botox maker reported adjusted quarterly profit of $3.35 per share, five cents a share above estimates. Revenue was also above Street forecasts, and Allergan raised its full-year forecast as sales of newer drugs made up for weakness in its older treatments. (CNBC)
Marriott — The hotel operator beat estimates by 10 cents a share, with adjusted quarterly profit of $1.01 per share. Revenue also topped estimates. Marriott saw both higher room rates and increased occupancy compared to a year earlier. (CNBC)
Information Credit: News headlines and quotes were taken from CNBC in the writing of this post.