Morning Brief | Earnings Season Dominates, McDonald Down 2%
1min read Pre-market Movers
Ahead of Tuesday's trading, the three major U.S. stock index futures were fall, with Dow futures down 0.31%, S&P 500 futures down 0.15% and Nasdaq 100 futures down 0.09% at press time.
McDonald's shares fall above 2% in premarket trading. It suffered a second consecutive fall in sales in the third quarter, reported global comparable sales slid 1.5 per cent year on year, more than the 0.6% decrease estimated.
PayPal reported better-than-expected third-quarter earnings, but revenue came in a bit light of expectations. EPS $1.20 vs 1.07 expected; Revenue $7.85B vs $7.89B expected. Shares down more than 6% before market open.
Pfizer Q3 earnings beat estimate,as sales of its COVID-19 treatment Paxlovid blew past expectations, also raised its annual profit and sales forecast. Stocks up nearly 2% in premarket.
Ford warned that full-year earnings will be at the low end of its forecast as the carmaker struggles with warranty costs and supply disruptions tied to recent hurricanes. Adjusted earnings before interest and taxes this year will be about $10 billion, down from a previous outlook for as much as $12 billion and analysts expected $10.6 billion.
Shares fall nearly 6% in premarket.
Pre-market Headlines
China considers over $1.4 trillion in extra debt over next few years
China is considering approving next week the issuance of over 10 trillion yuan ($1.4 trillion) in extra debt in the next few years to revive its fragile economy, a fiscal package which is expected to be further bolstered if Donald Trump wins the U.S. election, according to two sources told Reuters.
Boeing to Raise $21 Billion in Equity
Boeing has priced its underwritten offering of 112.5 million shares of common stock at $143 each, It is also offering $5 billion worth of depositary shares at $50.00 each, aim to raise about $21 billion.
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