| What to watch today: Wall Street looks set to bounce after two-session decline | | |  | MON, JUL 27, 2020 | | | | AS OF MON, JUL 27, 2020 • 09:02 ET | | Dow Jones Fut | | 26,469.89 | | Current: | 26,401.00 | | Change: | 79.00 | | Impl. Open: | 40.11 | | | S&P 500 Fut | | 3,215.63 | | Current: | 3,217.25 | | Change: | 13.25 | | Impl. Open: | 9.62 | | | NASDAQ 100 Fut | | 10,483.13 | | Current: | 10,547.75 | | Change: | 88.75 | | Impl. Open: | 77.12 | | | Russell 2000 Mini | | 1,467.55 | | Current: | 1,467.50 | | Change: | 5.10 | | Impl. Open: | 7.15 | | Dow futures were pointing to a gain at Monday's open as White House officials signal what Republicans are willing to accept in a new coronavirus relief bill. The Dow Jones Industrial Average closed lower for the second straight session Friday, breaking a three-week winning streak. (CNBC)
The busiest week of earnings season gets off to a slow start with Hasbro leading quarterly financial reports before the bell Monday. The government said Monday morning that June durable goods orders rose a better-than-expected 7.3% after soaring more than 15% in May. (CNBC) | | | | Shares of Moderna, already up nearly 275% this year, added another 8% in premarket trading after the biotech company said Monday that it started a phase 3 study of its experimental coronavirus vaccine with 30,000 participants. It's the largest Covid-19 vaccine trial in the world. On Sunday, Moderna said it received an additional $472 million from the U.S. government for development of its vaccine candidate. (AP & Reuters) | New York's more than 32,600 coronavirus deaths are, by far, the most of any state. Nationally, after Friday's new cases of 70,000-plus, new infections in the U.S. stepped down over the weekend, with over 66,000 on Saturday and 55,000 on Sunday. Following five days of virus deaths over 1,000, the U.S. recorded 558 on Sunday. (John Hopkins University)
* WHO deems Covid-19 "the most severe" global health emergency ever declared (CNBC) | | | | Hasbro (HAS) reported quarterly earnings of 2 cents per share, short of the 23 cents a share consensus estimate. Revenue also came in well short of forecasts, hurt by store closures and product shortages despite strong consumer demand. The company added that it sees an improved environment for the current quarter. | | | | Supermarket operator Albertsons (ACI) earned $1.35 per share for its fiscal first quarter, 5 cents a share above estimates. Revenue was in line with Wall Street forecasts, helped by a 26.5% jump in comparable-store and digital sales. | | | | Johnson & Johnson (JNJ) said proposed IRS regulations involving its opioid settlement might materially impact its results. The company said those regulations could limit the tax-deductibility of settlement payments. | | | | AstraZeneca (AZN) will pay up to $6 billion to Japanese drugmaker Daiichi Sankyo, in the second multibillion cancer drug collaboration in a year between the two companies. | | | | Intel (INTC) placed orders for 6-nanometer chips with Taiwan Semiconductor (TSM), according to a report in the China Times. The publication said the two chipmakers will start collaborating in the second half of this year. Intel shares had fallen sharply Friday after the company announced a delay in its 7-nanometer chip. | | | | SAP (SAP) will spinoff Qualtrics through an initial public offering, less than two years after it bought the U.S.-based company for $8 billion. The German business software giant had been criticized by investors for overpaying for Qualtrics, which specializes in measuring online consumer sentiment. | | | | Garmin (GRMN) is experiencing a global outage of its systems, according to a note on its website. Garmin did not elaborate further, but multiple reports say the fitness and GPS device maker is the victim of a ransomware attack. The company is reportedly being asked to pay $10 million to free its systems. | | | | Boeing (BA) plans to delay the introduction of its new 777X jet by up to a year, according to sources who spoke to CNBC. The delay is due to the drop in jet demand stemming from the Covid-19 pandemic, and the sources say an official announcement could come this week. | | | | General Mills (GIS) is boosting the ranks of manufacturing partners to meet a surge in packaged food demand. Chief supply chain and global business solutions officer John Church told Dow Jones the increase in the number of manufacturing partners could rise as high as 20%. | |  | | |
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