| What to watch today: S&P 500 set to make a run at last month's record highs | | |  | TUE, JUN 08, 2021 | | | | AS OF TUE, JUN 08, 2021 • 08:32 ET | | Dow Jones Fut | | 34,630.24 | | Current: | 34,620.00 | | Change: | 4.00 | | Impl. Open: | 8.76 | | | S&P 500 Fut | | 4,226.52 | | Current: | 4,234.50 | | Change: | 9.00 | | Impl. Open: | 9.68 | | | NASDAQ 100 Fut | | 13,802.89 | | Current: | 13,888.00 | | Change: | 83.75 | | Impl. Open: | 86.11 | | | Russell 2000 Mini | | 2,319.18 | | Current: | 2,323.30 | | Change: | 5.90 | | Impl. Open: | 3.82 | | | Meme stocks continued their rally in Tuesday's premarket led by AMC Entertainment's (AMC) more than 5% advance. Shares of the movie theater chain jumped nearly 15% on Monday after gaining over 80% last week. The U.S. Securities and Exchange Commission said Monday it's watching ongoing volatility in the market and vowed to protect retail investors. (CNBC) | | | | Tesla (TSLA) delivered 33,463 China-made vehicles in that market in May, up 29% from April when production was impacted by a maintenance shutdown. Tesla rose 3% in the premarket. Separately, Tesla executive Jerome Guillen left the company after only three months as the president of its Heavy Trucking unit, according to an SEC filing. (Reuters & CNBC) | Bitcoin fell more than 7% to under $33,000 on Tuesday. While the reason for the move was unclear, it may be related to concerns over crypto security after U.S. officials managed to recover most of a ransom paid to hackers that targeted Colonial Pipeline. Court documents said investigators were able to access the password for one of the hackers' bitcoin wallets. (CNBC)
Colonial Pipeline CEO Joseph Blount is set to testify Tuesday before the Senate Homeland Security Committee. He's expected to face questions about the company's response to the cyberattack and his decision to authorize the $4.4 million ransomware payment. (AP) | | | | The Biden administration is set to announce a series of steps designed to strengthen critical U.S. supply chains Tuesday. The report's initial recommendations focus on four products critical to the U.S. economy: large capacity lithium batteries, rare earth minerals, semiconductors and active pharmaceutical ingredients. (CNBC) | | | | Starting Tuesday, Amazon's (AMZN) internet-sharing network will be activated on millions of Amazon Echo and Tile devices. But if you don't want it, there is a way to opt out. Here's what you should know before you make your decision. (Vox) | | | | Ford (F) unveiled the compact Maverick pickup Tuesday as the smallest vehicle in its highly profitable truck lineup. It will be the first pickup truck in America with a standard gas-electric hybrid engine when it goes on sale this fall starting at just under $20,000. (CNBC) | | Stitch Fix (SFIX) lost 18 cents per share for its first quarter, smaller than the 27 cents a share loss that analysts were anticipating. The online clothing styling company's revenue came in above estimates. Stitch Fix also issued an upbeat forecast, amid 20% growth in its active client base compared to a year ago. Shares soared 14.8% in premarket action. | | | | Contango Oil & Gas (MCF) agreed to combine with KKR's (KKR) Independence Energy business in an all-stock deal. The combined company will have an initial market capitalization of about $4.8 billion. Contango shares jumped 10.3% in premarket trading. | | | | Coupa Software (COUP) reported quarterly earnings of 7 cents per share, compared to Wall Street forecasts for a 19 cents per share loss. Revenue beat estimates, and the financial software company also issued an upbeat outlook. Despite the upbeat numbers, Coupa shares tumbled 9.2% in premarket trading. | | | | Recreational vehicle maker Thor Industries (THO) jumped 3.4% in the premarket after it beat estimates on both the top and bottom lines for its fiscal third quarter. Sales more than doubled compared to a year ago, and the company said it sees no signs of demand slowing. | | | | Chico's FAS (CHS) surged 6.6% in the premarket after the apparel retailer said it was taking all appropriate steps to improve performance and increase shareholder value. The statement was in response to a letter sent to management by activist investor Barington Capital. Separately, Chico's reported quarterly earnings and sales that topped Wall Street forecasts. | | | | Marvell Technology (MRVL) shares jumped 5.5% in premarket trading after it beat Wall Street estimates on both the top and bottom lines for its first quarter. The chip maker also expects its current-quarter revenue will surpass $1 billion for the first time. | | | | Keurig Dr Pepper (KDP) lost 3.6% in the premarket after it announced a secondary offering of 28 million common stock shares, to be sold on behalf of food producer and Keurig Dr Pepper shareholder Mondelez (MDLZ). Keurig Dr Pepper will not receive any proceeds from the offering. | | | | Vail Resorts (MTN) beat estimates by 18 cents a share, with quarterly profit of $6.72 per share. The resort operator also saw revenue top forecasts. Vail said pass sales were up 50% by units and 33% by dollars compared to pre-pandemic results in 2019, as the company slashed season pass sale prices by 20%. | | | | Etsy (ETSY) announced a private offering of $1 billion in convertible senior notes, with the online crafts marketplace planning to use the proceeds to fund stock buybacks and for general corporate purposes. Etsy fell 1.9% in premarket trading. | | Bruce Springsteen will return to Broadway this summer for a limited run of his one-man show, "Springsteen on Broadway." Performances at the St. James Theatre begin June 26 with an end date set, at least for now, for Sept. 4. Audience members will be required to provide proof of full Covid vaccination to attend. (AP) | | |
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