| What to watch today: Dow set to drop for a fourth straight session | | |  | THU, MAY 20, 2021 | | | | AS OF THU, MAY 20, 2021 • 08:53 ET | | Dow Jones Fut | | 33,896.04 | | Current: | 33,796.00 | | Change: | -35.00 | | Impl. Open: | -33.04 | | | S&P 500 Fut | | 4,115.68 | | Current: | 4,113.75 | | Change: | 2.25 | | Impl. Open: | 2.57 | | | NASDAQ 100 Fut | | 13,237.91 | | Current: | 13,274.50 | | Change: | 41.00 | | Impl. Open: | 41.59 | | | Russell 2000 Mini | | 2,193.64 | | Current: | 2,193.80 | | Change: | 1.60 | | Impl. Open: | .66 | | | The 10-year Treasury yield backed away from its previous day pop to 1.678% as minutes from the Federal Reserve's April meeting suggested central bankers might taper the pace of extraordinary pandemic-era asset purchases if the economy continues to recover rapidly. (CNBC) | | | | Shares of Virgin Galactic (SPCE) jumped 21% in Thursday's premarket after the space tourism firm said it's targeting Saturday for its next spaceflight test. The company made the announcement following the completion of a maintenance review of its carrier aircraft that had threatened delays. Virgin Galactic is aiming to begin commercial service in 2022. (CNBC) | | | Ford (F) said its new electric F-150 Lightning pickup will be profitable when it arrives in U.S. dealer showrooms next year, with pricing between about $40,000 and $90,000. The pickup, which Ford officially unveiled Wednesday night, resembles the automaker's current F-150 but includes new interior and exterior features. (CNBC)
* Biden tales Ford s new electric pickup for a test drive (Washington Post) | | | | House Republicans introduced a five-year, $400 billion transportation measure that directs historic levels of funding to highways, bridges and transit systems. The GOP bill comes as talks continued this week between the White House and Senate Republicans over competing infrastructure plans. (CNBC) | | Kohl's (KSS) shares fell more than 6% in Thursday's premarket despite the retailer beating Wall Street expectations on both the top and bottom lines. Kohl's earned $1.05 per share in the first quarter, compared the consensus estimate of just 4 cents per share. Revenue soared 70% to $3.89 billion. The company also raised its outlook. | | | | Petco (WOOF) gained 1% in premarket action, after reporting quarterly earnings of 17 cents per share compared to a consensus estimate of 9 cents per share. The pet products retailer's revenue also beat forecasts. It raised its full-year outlook. | | | | L Brands (LB) came in 4 cents a share above estimates, with quarterly profit of $1.25 per share. Revenue came in very slightly above consensus. Comparable-store sales at its Victoria's Secret unit jumped 25%, while Bath & Body Works saw a same-store sales increase of 16%. The company is not providing guidance for the full year, and also said it is targeting the completion of its split into two separate companies for August. The company's shares fell 2% in the premarket. | | | | BJ's Wholesale (BJ) reported quarterly earnings of 72 cents per share, 15 cents a share above estimates. Revenue beat estimates as well. The retailer's comparable-store sales ex-fuel fell by 5%, but that was smaller than the 8.3% drop predicted by analysts who were surveyed by FactSet. BJ's also said that the rest of 2021 remains difficult to forecast. Its shares sank 3.3% in the premarket. | | | | Shoe Carnival (SCVL) shares slid 7.2% in premarket trading after the footwear retailer predicted a drop in current-quarter sales compared to a year ago. The company did not provide an outlook for the second half of the year, citing supply chain issues and other potential uncertainties. | | | | Hormel Foods (HRL) reported quarterly earnings of 42 cents per share, a penny a share above estimates. The food producer's revenue also came in above analysts' projections. The company behind brands like Spam, Dinty Moore and Jennie-O said demand in its various channels remains elevated compared to pre-pandemic levels. | | After the 2020 PGA Championship was pushed back to August because of the coronavirus pandemic, golf's second major is back to its usual spot in May. Round One starts today at the Kiawah Island Golf Resort's Ocean Course in South Carolina. Collin Morikawa is the defending champ. (USA Today) | | |
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