| What to watch today: Stocks rally, Wall Street looks toward jobs report, & IBM layoffs | | |  | FRI, JUN 07, 2019 | | | | AS OF FRI, JUN 07, 2019 • 07:40 ET | | Dow Jones Fut | | 25,720.66 | | Current: | 25,825.00 | | Change: | 80.00 | | Impl. Open: | 97.34 | | | S&P 500 Fut | | 2,843.49 | | Current: | 2,855.25 | | Change: | 9.50 | | Impl. Open: | 11.01 | | | NASDAQ 100 Fut | | 7,275.93 | | Current: | 7,312.75 | | Change: | 30.50 | | Impl. Open: | 31.82 | | | Russell 2000 Mini | | 1,503.54 | | Current: | 1,510.40 | | Change: | 7.90 | | Impl. Open: | 5.71 | | | U.S. futures were pointing to an extension of this week's rally at the Wall Street open, in what is already the best week of 2019 for the Dow and S&P 500. The May employment report, out before the open, could change that outlook, but for now, the Dow is poised to break a six-week losing streak and the S&P 500 and Nasdaq are on pace to end four-week losing streaks. (CNBC) | | | | IBM (IBM) is planning to lay off about 1,700 workers, according to a person familiar with the matter who spoke to CNBC. An IBM spokesperson told CNBC that the tech giant is continuing to "reposition our team to align with our focus on high-value segments of the IT market". | | | | There are no earnings reports of note out today. | | Today is Theresa May's official last day as prime minister of the U.K. She resigned last month amid mounting pressure over failed efforts to advance Brexit and will play a caretaker role until a replacement is chosen. (CNBC) | | | | Talks between U.S. and Mexican officials will resume today, with Monday's tariff deadline nearing. After some negotiations, Mexico will send its national guard to its border with Guatemala to stem the flow of undocumented migrants who are entering the country to go to the U.S. (CNBC) | | | | Walmart (WMT) is going to begin delivering groceries inside shoppers' homes. Right to their kitchen refrigerators. Starting this fall, nearly 1 million people across three cities Kansas City, Missouri, Pittsburgh and Vero Beach, Florida will have access to Walmart's new in-home delivery option, the retailer announced today. (CNBC) | | | | Caesars Entertainment (CZR) is near a deal to combine with rival casino operator Eldorado Resorts (ERI), according to people familiar with the matter who spoke to the Wall Street Journal. The deal could be announced later this month. | | | | AT&T (T) is mulling a plan to package its HBO and Cinemax movie channels and its Warner Brothers TV and movie library into a new streaming service. The service would cost between $16 and $17 per month. (WSJ) | | | Facebook (FB) is no longer allowing pre-installation of its apps on Huawei phones, the latest blow for the Chinese tech giant as it struggles to keep its business afloat in the face of a U.S. ban on its purchase of American parts and software. New Huawei phones will no longer be able to have Facebook, WhatsApp and Instagram apps pre-installed. (Reuters)
* Russian sovereign wealth fund says US allegations against Huawei are unproven and unfair (CNBC) | | | | Seventeen automakers warned President Donald Trump that his plan to weaken pollution standards could cut their profits and create instability. Ford (F), General Motors (GM), Toyota (TM), Volvo and more asked Trump to reconsider the rule that's supposed to be made public this summer. (NY Times) | | | | DocuSign (DOCU) earned an adjusted 7 cents per share for its fiscal first quarter, 2 cents more than analysts had expected. The electronic signature technology provider saw revenue come in above estimates, but investors appear concerned about a slowdown in the rate of growth in billings. | | | | Zoom Video (ZM) earned an adjusted 3 cents per share for its first quarter, two cents above estimates, while the video communications technology company also saw revenue beat forecasts. Zoom also gave better than expected current quarter revenue guidance. | | | | Guess (GES) lost 25 cents per share for its first quarter, 1 cent more than Wall Street had been anticipating. The apparel maker's revenue matched street forecasts, but Guess did give a full year earnings forecast above current consensus. | | | | Sanofi (SNY) hired Novartis (NVS) executive Paul Hudson as its new Chief Executive Officer. He will replace the drug maker's current CEO Olivier Brandcourt, who plans to retire in September. | | | | Zumiez (ZUMZ) reported first quarter profit of 3 cents per share, compared to Wall Street forecasts of a 9 cents per share loss. The action sports apparel maker also reported better than expected revenue for the quarter, with particular strength in the final two months of the quarter. | | Disney's (DIS) "Dark Phoenix," the last chapter of the 19-year X-Men film franchise, is tracking for a $50 million opening in the North American box office. The film currently has a 21% freshness rating on Rotten Tomatoes and has received a poor response from critics. (Hollywood Reporter) | | Emma Boettcher, the woman who defeated James Holzhauer on "Jeopardy!", closed the books on her three-show winning streak. "Being on 'Jeopardy!' had to end sometime, and I'm not unhappy with the way it did," she said in an interview. "It was just marvelous to be there." (NY Times) | |  | | |
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