• US PMI data above expectations
• Pfizer (PFE.US), BioNTech (BNTX.US) vaccine is on track for regulatory review in October
• Foot Locker (FL.US) posted strong Q2 results
• Pfizer (PFE.US), BioNTech (BNTX.US) vaccine is on track for regulatory review in October
• Foot Locker (FL.US) posted strong Q2 results
US indices managed to erase early losses after US PMIs data and existing home sales figures came well above analysts’ expectations. Also investors welcomed news that a Pfizer’s vaccine is on track for regulatory review in October. Meanwhile investors continue to observe US-China relations after the Trump administration did not confirm Beijing's claims that trade talks will take place in the coming days.
S&P500 (US500) managed to recover from earlier losses. Index bounced off the major 3355.9 pts support level and is currently testing resistance at 3383.6 pts. Break above the aforementioned level would be a signal for deeper upward move. Source: xStation5Foot Locker (FL.US) reported quarterly earnings of 71 cents per share while analysts expected earnings of 57 cents a share. Revenue came in above forecasts amid an 18.6% gain in comparable-store sales for the athletic footwear and apparel retailer. Company also restored its quarterly dividend program.
Foot Locker (FL.US) – stock launched today’s session with bullish price gap after company posted better-than-expected quarterly results. Should upbeat moods prevail, resistance at $31.90 per may come into play. However, in the event of a change in sentiment in the market, local support is located at $27.15 per share and is additionally strengthened by 100 MA (green line). Source: xStation5Pfizer (PFE.US), BioNTech (BNTX.US) believe regulatory review for their potential Covid-19 vaccine could take place in October. The drugmakers say their ongoing studies are showing promising safety and immune response data.
Ross Stores (ROST.US) posted better than expected quarterly results. Company earned 6 cents per share, which includes a benefit of 19 cents per share on revenue of $2.68 billion. Analysts polled by FactSet expected a loss of 28 cents per share on n revenue of $2.51 billion. However, CEO Barbara Rentler said: “There remains significant uncertainty on how the pandemic will continue to evolve and affect consumer demand and the economy, and the potential exists for additional government mandated shutdowns.”
Tesla (TSLA.US) stock price jumped above the psychological level of $2,000 for the first time on Thursday. Company’s shares rose 40% this month and has nearly quintupled in value this year. Today is the “record” date for Tesla’s 5-for-1 stock split, with split-adjusted trading set to begin Aug. 31.
Sorrento Therapeutics (SRNE.US) stock rose 2.6% in extended trading after the biopharmaceutical company announced that will acquire SmartPharm Therapeutics for up to $19.4 million in common stock. The deal is expected to close next month. “The merger with Sorrento presents a tremendous opportunity to advance our next-generation, non-viral gene therapy technology,” said SmartPharm CEO Jose Trevejo in a statement.
Keysight Technologies (KEYS.US) stock jumped 6% in extended-trading after the company posted better-than-expected quarterly figures. Keysight reported a profit of $1.19 per share on revenue of $1.01 billion well above market expectations of 83 cents per share on revenue of $915.4 million.
