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Today's Pre-Market News [Friday, June 28th, 2019]

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  1. bigbear0083

    bigbear0083 Content Manager
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    Today's Pre-Market News [Friday, June 28th, 2019]

    Good Day Stockaholics! Happy Friday! ;)

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    Today's Top Headlines for Friday, June 28th, 2019
    • U.S. stock futures were pointing higher on hopes for progress between the U.S. and China on trade at the G-20 summit in Japan. That could reverse some recent negative momentum which has put stocks on track for their first losing week of June, which has otherwise been an upbeat month. (CNBC)
    • The Dow and S&P 500 are having their best month since January. The Dow is having its best June performance since 1938. The S&P 500, seeing its largest June gain since 1955, is set to conclude its best first half of a year since 1998. (CNBC)
    • On today’s U.S. economic calendar, the government is out with personal income and spending for May at 8:30 a.m. ET. The Chicago purchasing managers index is out at 9:45 a.m. ET. The University of Michigan issues its final June consumer sentiment index at 10 a.m. (CNBC)
    • Constellation Brands (STZ) is out with quarterly earnings this morning, while there are no reports scheduled after today’s closing bell. Last night, Dow stock Nike (NKE) reported quarterly earnings that fell short of estimates. Revenue was better than expected. Nike said the China trade war has not yet impactedits business there. (CNBC)
    • President Donald Trump and President Xi Jinping are poised to write the latest chapter in their globe-shaking trade war when they meet tomorrow morning in Japan. Trade will be at the top of the agenda for both leaders as the nations remain locked in a tariff battle, along with the Trump administration’s Huawei restrictions. (CNBC)
    • Trump told Russian President Vladimir Putin today not to meddle in the 2020 election, appearing to make light of a scandal. It was the first time the two leaders have had a formal face-to-face meeting since a controversial high-profile summit in Helsinki last July. (CNBC & Reuters)
    • Russia’s Vladimir Putin says liberalism has ‘outlived its purpose’ (CNBC)
    • The first round of presidential primary Democratic debate is complete, and post-debate polls and pundits showed a few clear winners and losers of the two nights of debates in Miami. Among those winning favor were Kamala Harris, Julian Castro and Cory Booker. Beto O’Rourke and Joe Biden, the frontrunner, were seen as losers. (CNBC)
    • The most personal attack of last night’s Democratic debate was aimed not at Trump, but at former Vice President Biden. Harris called out Biden on the issue of race, saying the way he recently described his past working relationship with two segregationist lawmakers was “hurtful.” (CNBC)
    • Biden urges building on Obamacare instead of adopting Bernie Sanders’ ‘Medicare for All’ (CNBC)
    • ‘Racist,’ ‘liar,’ ‘horrible’: Second Democratic debate kicks off with early attacks on Trump (CNBC)
    • Beto O’Rourke huddles with donors to discuss debate and ways to improve in the next round (CNBC)
    • The House approved the Senate’s $4.6 billion emergency border aid bill, following pressure from centrist members to take up the plan. It heads to Trump’s desk amid furor about the treatment of migrant children at U.S. detention facilities. (CNBC)
    • The Senate began voting today on a war-authorization measure that would block President Donald Trump from launching a military strike against Iran unless he gets explicit congressional approval. (USA Today)
    • Jony Ive, Apple’s chief design officer, is leaving the company to start his own design business. Ive is considered one of the most important people at Apple (AAPL), responsible for the industrial design and the look and feel of all major Apple products, including the iPhone and the Mac. Apple will be a client of Ive’s. (CNBC)
    • Here are some of the most iconic Apple products designed by Jony Ive(CNBC)
    • Boeing (BA) is attempting to have all 737 Max-related fixes done by September, according to sources who spoke to CNBC. That includes a fix for a newly-discovered software issue revealed by the company Wednesday.
    • United Continental (UAL) is changing its name to United Airlines Holdings, effective today. The new name drops all reference to Continental Airlines, one half of the 2010 merger that created the current company. For a time after the merger, the company operated flights under both United and Continental names. (AP)
    • Madame Tussauds owner Merlin Entertainments (MERL) said today it had agreed to be acquired by the investment vehicle of Lego’s founding family and private equity firm Blackstone (BX) in a deal valuing the company and its debt at nearly $7.6 billion. (Reuters)
    • Luxury online reseller the RealReal (REAL) priced its initial public offering at $20 per share last night, above the expected range. Trading is set to begin this morning. On Thursday, shares of experimental health-care company Adaptive Biotechnologies (ADPT) doubled in their trading debut, and they were higher in the premarket. (NY Times & CNBC)

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    STOCK FUTURES CURRENTLY:
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    YESTERDAY'S MARKET MAP:
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    NEXT WEEK'S ECONOMIC CALENDAR:

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    NEXT WEEK'S UPCOMING IPO'S:
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    THIS MORNING'S PRE-MARKET EARNINGS CALENDAR:
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    BEFORE TODAY'S MARKET OPEN EARNINGS RELEASES:
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    AFTER TODAY'S MARKET CLOSE EARNINGS RELEASES:
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    THIS MORNING'S PRE-MARKET STOCK NEWS MOVERS:

    source: cnbc.com

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    • Constellation Brands – The beer and spirits producer reported adjusted quarterly profit of $2.21 per share, beating the $2.04 a share consensus estimate. Revenue also topped Wall Street forecasts.
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    • Apple – Apple chief design officer Jony Ive is leaving the company to start his own independent design firm. Ive has been with Apple for since 1992 and helped design such key products as the iMac and iPhone.
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    • United Continental – The airline is changing its name to United Airlines Holdings, effective today. That removes the last reference to Continental Airlines, which United bought in 2010.
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    • Biogen – Biogen was downgraded to “neutral” from “overweight” at Piper Jaffray, which cites competitive pressures for the drugmaker’s multiple sclerosis franchise.
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    • Live Nation Entertainment – The live event producer was downgraded to “sell” from “neutral” at Citi, which likes the company’s consistent operating performance and growth prospects but feels investors are becoming too willing to pay a premium for growth.
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    • Bloomin’ Brands – Deutsche Bank initiated coverage of the Outback Steakhouse parent with a “buy” rating, noting that the restaurant operator is cheap relative to its peers and can rise on any improvement in its profit margins.
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    • AutoZone – Oppenheimer upgraded the auto parts retailer to “outperform” from “perform,” noting the potential of sustained strong commercial sales expansion.
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    • Darden Restaurants, Wingstop – Stephens downgraded both restaurant operators to “equal-weight” from “overweight,” in a move the firm calls “reluctantly downgrading quality” based on current valuation.
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    Have a happy trading day to everyone in here on this Friday! ;)
     
    Three Eyes and Onepoint272 like this.

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