| What to watch today: Dow set for opening bounce after Thursday's steep losses | | |  | FRI, JUN 12, 2020 | | | | AS OF FRI, JUN 12, 2020 • 07:55 ET | | Dow Jones Fut | | 25,128.17 | | Current: | 25,533.00 | | Change: | 502.00 | | Impl. Open: | 542.83 | | | S&P 500 Fut | | 3,002.10 | | Current: | 3,052.00 | | Change: | 52.50 | | Impl. Open: | 61.90 | | | NASDAQ 100 Fut | | 9,588.48 | | Current: | 9,752.75 | | Change: | 149.25 | | Impl. Open: | 176.27 | | | Russell 2000 Mini | | 1,356.22 | | Current: | 1,397.40 | | Change: | 43.70 | | Impl. Open: | 52.38 | | | The government is out with May import prices at 8:30 a.m. ET, seen rising 0.7% after falling 2.6% in April. And at 10 a.m. ET, the University of Michigan issues its mid-June Consumer Sentiment Index, expected to rise to 75 from the final May reading of 72.3. | | | | Retailer Party City (PRTY) is one of the few companies issuing quarterly numbers this morning. There are no reports of note scheduled after the closing bell. | | | | The United Kingdom posted the largest monthly decline in GDP on record in April, according to government statistics. The GDP drop of 20.4% due to pandemic-induced lockdowns was a sharper contraction than analysts expected. (CNBC) | | Quicken Loans, the U.S.'s largest mortgage lender, is planning to go public, CNBC's Leslie Picker reported Thursday. The Detroit-based company has filed its IPO prospectus confidentially, according to Picker's sources. It may flip it to be public as soon as next month. The targeted valuation has not been decided, but will likely be in the tens of billions of dollars, one source said. That would suggest a multi-billion-dollar IPO, which would be one of the largest if not the largest in 2020. | | | Zoom said Thursday it will not comply with Chinese government requests to suspend hosts or block people from meetings if those users are not located in mainland China. The video-calling service had come under fire for shutting down the account of a U.S.-based civil-rights group after it held an event commemorating the 1989 protests in Tiananmen Square. Beijing had requested that San Jose, California-based Zoom shut down the accounts. Zoom said it was wrong to do so for users based in the U.S. and Hong Kong, and is now working on the technology to block individual users based on geography. (CNBC)
* Twitter removes more than 23,000 accounts it says are linked to China's Communist Party (Washington Post) | | Lululemon (LULU) reported quarterly earnings of 22 cents per share, 1 cent below estimates, with the athletic apparel maker's revenue also below forecasts amid virus-related store closures. It was Lululemon's first earnings miss in three years, although it did manage to offset some of its lost store sales with a 70% rise in digital revenue. | | | | Sony (SNE) unveiled more than two dozen new titles for its upcoming PlayStation 5 video game console, including sequels to its popular "Spider-Man" and "Gran Turismo" titles. The console is expected to hit the market for this year's holiday season. | | | | Activist investor Jana Partners took a 5.9% stake in information technology firm Perspecta (PRSP), according to an SEC filing. Jana said it would talk to management about changes that could lead to a sale. | | | | Adobe (ADBE) beat estimates by 12 cents with adjusted quarterly earnings of $2.45 per share, while the software provider's revenue was slightly below Wall Street forecasts. The bottom line got a boost from the jump in employees working from home, but Adobe did give lighter than expected current quarter earnings and revenue guidance. | | | | PVH (PVH) lost an adjusted $3.03 per share for its latest quarter, wider than the expected loss of $1.67 per share. The parent of Calvin Klein and other apparel brands saw revenue come in slightly below analyst forecasts, as many of its stores closed during the quarter. PVH said it expects its revenue decline to be even more pronounced for the current quarter. | | | | Dave & Buster's (PLAY) reported a quarterly loss of $1.37 per share, compared to forecasts of an 85 cent loss. The restaurant chain's revenue also missed estimates, hurt by a 56% drop prompted by virus-related closures. | | | | Boeing (BA) has pulled back on its restart of production for the 737 Max jet, according to the Wall Street Journal. The paper said the jet maker has told key supplier Spirit AeroSystems (SPR) to freeze recently restarted production of parts, amid the virus-induced slump in travel demand. | | | | Hertz (HTZ) asked a bankruptcy court judge to approve the sale of nearly 247 million new shares, with the car rental company's lawyers saying recent market prices for the stock "potentially present a unique opportunity." | | The number of American residents downloading encrypted messaging app Signal have spiked in recent weeks as anti-racism and police reform protests have swept the country. While Signal has been part of organizers' repertoire for years, demonstration attendees say the app lets them communicate with friends and avoid the threat of police monitoring. (NY Times) | |  | | |
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