MCRB - Seres Therapeutics, Inc.
TRVN - Trevena, Inc.
MJCO - Majesco
FL - Foot Locker, Inc.
AVYA - Avaya Holdings Corp.
OPGN - OpGen, Inc.
VXRT - Vaxart, Inc.
CSPR - Casper Sleep Inc.
DOYU - DouYu International Holdings Limited
FVRR - Fiverr International Ltd.
(MT Newswires) -- Broad market exchange-traded funds such as SPDR S&P 500 ETF Trust (SPY), iShares Silver Trust (SLV) and ProShares UltraPro Short QQQ (SQQQ) inched up in Monday's premarket session. Actively traded Invesco QQQ Trust Series I (QQQ) slipped 0.1% higher.
Stock futures were mixed ahead of the open, with the Dow Industrial and S&P 500 in positive territory while Nasdaq was lower, as Wall Street lauded President Donald Trump's extension of jobless benefits over the weekend, but the continued stalemate between Republican and Democratic lawmakers over stimulus package negotiations continued to weigh on market sentiment.
Investors are also anticipating more tensions between the US and China after Washington's move late last week to impose sanctions against 11 Hong Kong and mainland officials over the implementation of Hong Kong's national security law.
With no major economic data, earnings reports will continue to be in focus. Duke Energy (DUK), ON Semiconductor (ON), Barrick (GOLD) and Marriott (MAR) were among early gainers while SeaWorld Entertainment (SEAS) and Reata Pharmaceuticals (RETA) were slipping into negative territory.
Power Play: Consumer
Consumer Staples Select Sector SPDR (XLP) was up 0.2%; iShares Dow Jones US Consumer Goods (IYK) and Vanguard Consumer Staples ETF (VDC) were inactive in the premarket session.
Consumer Discretionary Select Sector SPDR (XLY) and retail funds Market Vectors Retail ETF (RTH) and SPDR S&P Retail (XRT) were flat.
Foot Locker (FL) surged almost 26% after it said that same-store sales increased by 18% in the quarter ended Aug. 1, buoyed by strong customer demand for its product assortments. The sportswear company also said that it expects earnings per share of $0.66 to $0.70 on a non-GAAP basis in Q2. The Street is currently expecting an adjusted loss of $0.60 per share for the said period. "As we continued to reopen stores throughout the quarter, we saw a strong customer response to our assortments, which we believe was aided by pent-up demand and the effect of fiscal stimulus," said CEO Richard Johnson. "This fueled our in-store sales and also drove continued momentum across our digital channels." Foot Locker also said that it does not plan to provide a full-year 2020 outlook at this time due to lingering market uncertainty caused by the pandemic.
Select Financial Sector SPDR (XLF) was up 0.4%. Direxion Daily Financial Bull 3X Shares (FAS) was up nearly 2% while its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was down more than 1% in recent premarket trading.
Virtu Financial (VIRT) reported a normalized adjusted EPS of $1.73 in Q2, compared with $0.16 during the year-earlier quarter. Analysts polled by Capital IQ had expected EPS of $1.55. Revenue for the quarter was $905.9 million, compared with $375.1 million for the same period last year. The consensus estimate among analysts had been $649.1 million.
Energy
Dow Jones US Energy Fund (IYE) was quiet and Energy Select Sector SPDR (XLE) was up 0.5% in premarket activity.
Halliburton Co. (HAL) and Honeywell (HON) said on Monday that they are collaborating to deliver digital solutions that would maximize their asset potential, reduce execution risk and lower the total cost of ownership for oil and gas operators. The financial terms of the collaboration were not disclosed. "The Honeywell and Halliburton collaboration enables our oil and gas customers to make more informed, data-driven decision from the field to the board room," Honeywell Chief Executive Darius Adamczyk said in a statement. HON shares were up marginally while HAL shares were up 0.7% in premarket trade.
Crude oil was up more than 1% and the United States Oil Fund (USO) was up 0.7%. Natural gas was up 0.4%, and the United States Natural Gas Fund (UNG) was down 1%.
Gold was up 0.5%, and SPDR Gold Trust (GLD) was down 0.1%. Silver was up 2.6%, and iShares Silver Trust (SLV) was up 0.3%.
Health Care SPDR (XLV) was up 0.2%; Vanguard Health Care ETF (VHT), iShares Dow Jones US Healthcare (IYH) and iShares NASDAQ Biotechnology Index (IBB) were quiet in premarket trade.
Bristol-Myers Squibb Co. (BMY) rose nearly 2% after it said Saturday a phase 3 trial of Opdivo plus Yervoy demonstrated significant improvement in overall survival of patients with previously untreated, unresectable malignant pleural mesothelioma, a rare but aggressive kind of lung cancer. The results of the trial showed that treatment with the combination of drugs reduced the risk of death by 26%. After two years of treatment, 41% of the patients treated with the combination were alive, compared with the 27% of patients treated with chemotherapy.
Technology Select Sector SPDR ETF (XLK) was up 0.5% and iShares Dow Jones US Technology ETF (IYW) was up marginally; iShares S&P North American Technology ETF (IGM) was inactive.
Among semiconductor ETFs, SPDR S&P Semiconductor (XSD) was flat while the Semiconductor Sector Index Fund (SOXX) was up 0.1%.
ON Semiconductor (ON) shares rose nearly 2% after it reported on Saturday Q2 adjusted EPS of $0.12, down from $0.42 a year earlier but beating the Capital IQ analyst consensus of $0.02. Revenue for Q2 totaled $1.21 billion, lower than $1.35 billion last year but ahead of the Street view of $1.18 billion. The company said it expects Q3 revenue of about $1.20 billion to $1.33 billion, based on product booking trends, backlog levels, and estimated turns levels. Analysts are expecting $1.26 billion.
https://mymillennialinvestments.com/index.php/News/Pre-Market-Movers/August-10th-2020