Stocks posted losses yesterday after several prominent companies reported slower-than-expected earnings figures. The NASDAQ was the biggest loser with 1.2% declines, while the DJIA and S&P 500 suffered only fractional losses.
This morning, US futures are pointing to a slightly higher open, Fed Chairman Jerome Powell is set to speak today, and his comments could have a major impact on today’s trading action.
Today’s featured earnings docket includes pre-bell reports from Shopify (SHOP), Boeing (BA), General Electric (GE), and General Motors (GM). After the close, we have Paypal (PYPL), Facebook (FB), and Qualcomm (QCOM).
These stocks are making big moves this morning in pre market.
Socket Mobile Inc. (SCKT)
Socket Mobile announced the launch of a new product this morning, the DuraScan D755 medical-grade universal scanner. The product is specially built to stand up to the challenges of a healthcare environment, and Socket says it’s the perfect option for busy hospitals.
SCKT is rallying on news of the product launch. It’s currently up 31.6%.
On Deck Capital (ONDK)
Late yesterday, On Deck announced that it had entered into a deal to be acquired by Enova to create a “leading fintech serving consumers and small businesses.” The cash and stock deal is valued at approximately $90 million or $1.38 per share.
On Deck rallied sharply once the merger news hit the wires. It’s currently up 48.2%.
General Electric (GE)
GE is trading actively in the pre-market thanks to an upbeat Q2 earnings report. The firm reported a wider than expected loss for the quarter, but revenues came in ahead of consensus estimates. Investors seem to be most excited about the company’s claim that it expects to be cash flow positive by next year.
GE is one of the most active S&P 500 stocks this morning and it’s currently up 2.0%.
Advanced Micro (AMD)
AMD reported it’s Q2 earnings today and the results came in well ahead of expectations. The company outpaced expectations for both earnings and revenue growth, and it also reported record sales of notebooks and server processors. AMD also raised its full-year outlook for the year, citing continued strength in the PC and data center markets.
AMD is taking off in the pre-market after releasing that home run earnings report. It’s currently of the morning’s most active stocks and it’s up 10.75%.
