| What to watch today: Dow looks to extend gains to a three session rally | | |  | WED, FEB 03, 2021 | | | | AS OF WED, FEB 03, 2021 • 08:50 ET | | Dow Jones Fut | | 30,687.48 | | Current: | 30,589.00 | | Change: | 3.00 | | Impl. Open: | 8.52 | | | S&P 500 Fut | | 3,826.31 | | Current: | 3,832.75 | | Change: | 14.50 | | Impl. Open: | 13.44 | | | NASDAQ 100 Fut | | 13,456.12 | | Current: | 13,539.00 | | Change: | 90.00 | | Impl. Open: | 93.88 | | | Russell 2000 Mini | | 2,151.44 | | Current: | 2,142.20 | | Change: | -5.30 | | Impl. Open: | -3.04 | | | Ahead of Friday's release of the government's monthly employment report, ADP released its January look at job trends at U.S. companies Wednesday morning. ADP said 174,000 private sector positions were added last month. That was more than triple expectations. December's tally was upwardly revised to a decline of 78,000. (CNBC) | | A strong return to growth in its core advertising business pushed Alphabet's fourth-quarter earnings and revenue above Wall Street expectations. The company made $22.30 per share on revenue of $56.90 billion. Alphabet disclosed operating results from Google's cloud business for the first time, showing the unit lost $1.24 billion during Q4 and $5.61 billion for the full year. (CNBC) | | | The U.K.'s decision to delay the second shot of the AstraZeneca (AZN) coronavirus vaccine has been found to be an effective strategy, according to a new study. Oxford researchers found that the Covid vaccine was 76% effective at preventing symptomatic infection for three months after a single dose, and the efficacy rate rose with a longer interval between the first and second doses. (CNBC)
* Vaxart says its oral Covid vaccine produced promising results in early trial (CNBC)
Britain's GlaxoSmithKline (GSK) and German biotech firm CureVac (CVAC) struck $180 million deal to develop next-generation vaccines against Covid-19 that target several variants in one product. The partners said they were targeting a possible launch in 2022. (Reuters) | | | | Yellen and President Joe Biden joined Democratic senators for a private virtual meeting Tuesday, and they declared a GOP offer of $618 billion in Covid stimulus as too small. As the White House still tries to reach a bipartisan relief bill, Democrats marshaled their slim Senate majority to start a lengthy process for approving Biden's $1.9 trillion proposal with or without Republican support. (AP) | | | | The latest prototype of SpaceX's next-generation Starship rocket launched successfully on Tuesday but exploded on impact during an attempted landing after a development test flight. The rocket prototypes are built of stainless steel, representing the early versions of the rocket that CEO Elon Musk unveiled last year. (CNBC) | | Jazz Pharmaceuticals (JAZZ): Jazz said on Wednesday it would buy GW Pharmaceuticals (GWPH) in a $7.2 billion cash-and-stock deal to expand its neuroscience business by adding cannabis-based epilepsy treatment to its suite of drugs. | | | | Spotify (SPOT): The music streaming service reported a wider-than-expected quarterly loss, although its revenue did beat analyst forecasts. The number of premium subscribers jumped by 24% to a better-than-expected 155 million. | | | | Capri Holdings (CPRI) : The company behind Michael Kors and other luxury brands earned $1.65 per share for its latest quarter, beating the consensus estimate of $1.01 a share. Revenue came in below forecasts, however, due in part to coronavirus-related closures in major European markets. | | | | Boston Scientific (BSX): The medical device maker missed estimates by 8 cents a share, with quarterly earnings of 23 cents per share. Revenue also came in below Wall Street forecasts and Boston Scientific issued a weaker-than-expected current-quarter outlook. | | | | Scotts Miracle-Gro (SMG): The maker of lawn and garden products reported a per-share profit of 39 cents per share, compared to Wall Street forecasts of a 77 cents per share loss. Revenue came in well above estimates as consumer sales surged 147%. This is the first time Scotts has ever posted a profit during its fiscal first quarter. | | | | Humana (HUM): The health insurer lost $2.30 per share for its latest quarter, compared to a year-ago profit. The loss, however, was 6 cents a share smaller than analysts had anticipated, with revenue beating estimates. | | | | Kraft Heinz (KHC): The food maker is reportedly in talks to sell its Planters Snacks brand to Hormel Foods (HRL), maker of Skippy Peanut Butter. The Wall Street Journal said the deal could be worth about $3 billion and could be announced as soon as next week. | | | | Electronic Arts (EA): Electronic Arts shares are falling in pre-market trading even after the videogame company raised its annual sales forecast, projecting strong sales of sports-related titles like "Madden NFL 2021" and "FIFA 2021." Analysts say that investors may have been anticipating stronger results and a more upbeat forecast, given the strength of the market and the stock's recent rise. | | | | Chipotle Mexican Grill (CMG): Chipotle fell 25 cents a share short of estimates, with quarterly profit of $3.48 per share. The restaurant chain's revenue was in line with Wall Street forecasts. Online ordering boosted sales for Chipotle, but pandemic-related costs cut into the bottom line. | | | | Sony (SNE): Sony boosted its full-year profit outlook by a third, amid strong demand for its PlayStation 5 video game console. Sony said, however, that it was having trouble keeping up with demand due to a worldwide shortage of semiconductors. | | | | Freeport McMoRan (FCX): Freeport McMoRan reinstated its common stock dividend at 30 cents per share annually, an increase of 10 cents a share over where the payout was before it was suspended last April. The mining company also announced that CEO Richard Adkerson would take on the additional job of Chairman. | | | | Amgen (AMGN): The biotech firm issued a weaker-than-expected full-year outlook, saying the pandemic would continue to impact sales. Amgen also paused or halted enrollment in three trials involving cancer drugs. | | | | Match Group (MTCH): Match topped Wall Street's revenue estimates for its latest quarter, although profit merely matched forecasts. The parent of Tinder and other dating apps saw increased usage in areas where the pandemic has lessened. The lost 4% in premarket trading as of 7:32 a.m. ET. | | | | Alibaba (BABA): Alibaba is seeking to raise up to $5 billion in US dollar-denominated bonds, according to a person familiar with the matter who spoke to CNBC. The Chinese e-commerce company is said to be planning several different categories of debt with maturities of up to 40 years. | | |
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