| What to watch today: Wall Street looks for rise, one day after a tech-led sell-off | | |  | WED, MAY 05, 2021 | | | | AS OF WED, MAY 05, 2021 • 08:51 ET | | Dow Jones Fut | | 34,133.03 | | Current: | 34,099.00 | | Change: | 79.00 | | Impl. Open: | 72.97 | | | S&P 500 Fut | | 4,164.66 | | Current: | 4,174.50 | | Change: | 16.25 | | Impl. Open: | 17.34 | | | NASDAQ 100 Fut | | 13,544.67 | | Current: | 13,620.00 | | Change: | 84.00 | | Impl. Open: | 86.33 | | | Russell 2000 Mini | | 2,248.29 | | Current: | 2,256.00 | | Change: | 11.50 | | Impl. Open: | 11.21 | | U.S. stock futures bounced Wednesday, one day after a broad tech-led sell-off sent the Nasdaq down nearly 2%. The S&P 500 dropped almost 0.7%. The Dow Jones Industrial Average down more than 300 points, or roughly 1%, at one stage finished up 19 points. (CNBC)
Stocks hit their lows of Tuesday's session after Treasury Secretary Janet Yellen said interest rates may have to rise somewhat to keep economy from overheating. Later in the day, the former Fed chief tempered her remarks, saying she respects the central bank's independence and stressed she was not trying to influence monetary policy. (CNBC) | | | | Lyft (LYFT) lost 35 cents per share during the first quarter, but the ride-hailing company's loss was smaller than the 53 cents a share that analysts were anticipating. Revenue exceeded forecasts, as did the number of active riders during the quarter. Its shares rallied 5.7% in premarket trading. (CNBC) | | | | Facebook's (FB) oversight board Wednesday is expected to decide whether to uphold or lift the company's indefinite suspension of former President Donald Trump account. It's a much-awaited ruling that may signal how the social network will treat rule-breaking world leaders in the future. (Reuters) | | | | U.S. birth and fertility rates dropped to another record low in 2020 as births fell for the sixth consecutive year to the lowest levels since 1979, according to new data from the CDC's National Center for Health Statistics. The agency looked at birth rates among New York City women who delivered outside the five boroughs during the height of the pandemic in the U.S. (CNBC) | | | | The defense attorney for the former Minneapolis police officer convicted of killing George Floyd has requested a new trial, saying he wants a hearing to have the verdict impeached because of what he says is jury misconduct, according to a court document filed Tuesday. (AP) | | Match Group (MTCH) shares jumped 6.2% in the premarket after it beat estimates by 17 cents a share, with first-quarter earnings of 57 cents per share. The operator of Tinder and other dating services also reported revenue above analysts' forecasts and Match Group gave strong current-quarter guidance as it anticipates a surge in dating demand as the pandemic recedes. | | | | Hilton Worldwide (HLT) reported net earnings of 2 cents per share for the first quarter, missing the consensus estimate of 8 cents a share. Revenue also came in below analysts' projections. Hilton continued to be hit by pandemic-related travel restrictions, although it said 97% of its hotels were opened by the end of April. Its shares fell 2.7% in premarket trading. | | | | Scotts Miracle-Gro (SMG) saw its shares gain 3.5% in the premarket after beating estimates on the top and bottom lines for its latest quarter. The maker of lawn and garden products continues to benefit from a surge in consumer demand as homeowners continued to focus on home projects amid the pandemic. | | | | Tupperware (TUP) surged 7.2% in premarket action after a top and bottom line beat. Tupperware earned 82 cents a share for its latest quarter, well above the consensus estimate of 54 cents a share. Revenue was above estimates as well. | | | | ODP (ODP) jumped 4.7% in the premarket after the parent of Office Depot announced it would split into two separate publicly traded companies. Office Depot and OfficeMax locations will be operated by ODP, while the yet-unnamed new company will contain ODP's business-to-business operations. | | | | Activision Blizzard (ATVI) beat estimates by 14 cents a share, with quarterly earnings of 84 cents per share. The video game maker's revenue also exceeded Wall Street forecasts and the company raised its full-year forecast as demand remains elevated for games like "Call of Duty" and "Candy Crush." Its shares gained 4.5% in the premarket. | | | | T-Mobile US (TMUS) was up 3.3% in premarket trading after it came in 17 cents a share above consensus by earning 74 cents per share for its latest quarter. Revenue also topped estimates, and the mobile service provider added a larger-than-expected number of paying subscribers during the quarter. | | | | Caesars Entertainment (CZR) shares surged 6.7% in premarket action. The casino operator reported a smaller-than-expected loss for the first quarter, while its revenue was above estimates. Caesars said results continue to improve significantly as the pace of Covid-19 vaccinations accelerates. | | | | Zillow (ZG) reported quarterly earnings of 44 cents per share, compared to a consensus estimate of 25 cents a share. The real estate website operator's revenue also came in above estimates, and traffic to its websites and apps rose 19% compared to a year ago. Zillow shares climbed 2.6% in the premarket. | | | | Herbalife Nutrition (HLF) reported better-than-expected sales and profit for the first quarter, and raised its full-year guidance. The health and wellness products maker saw particularly strong growth in its sports nutrition category. The stock added 4.7% in the premarket. | | |
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