BY THE NUMBERS
U.S. stock futures rose modestly Thursday after jobless claims matched forecasts and ahead of Friday's employment report. Investors want to see if the ADP's disappointing job growth at U.S. companies in July indicates a labor recovery running out of steam. The Dow on Wednesday fell 323 points, or 0.9%. The S&P 500 slipped almost 0.5%. The Nasdaq rose slightly. (CNBC)
* 10-year Treasury yield hold under 1.2% after steady claims data (CNBC)
The government Thursday morning reported initial jobless claims for last week dipped to 385,000, matching estimates. The previous week was revised a bit lower to 399,000. The latest reading on continuing claims, which runs one week behind the headline weekly number, showed a sharp drop to under 3 million. On Friday, the government is set to release its July employment report. (CNBC)
* Early end to federal unemployment pay not getting people back to work (CNBC)
Shares of Robinhood (HOOD) fell 10% in Thursday's premarket after the popular online trading platform said in an amended filing that existing shareholders will sell up 97.9 million shares over time. Robinhood won't receive any of the proceeds. Shares soared 50% on Wednesday and more than doubled since last week's first-day close after the company's IPO. (CNBC)
* Outdoor grills maker Weber raises $250 mln in downsized IPO (Reuters)
IN THE NEWS TODAY
Moderna (MRNA) said its Covid vaccine booster shot produced a "robust" antibody response against the highly contagious delta variant, according to details of a study released Thursday with the company's better-than-expected quarterly earnings report. Moderna also said a final analysis of its phase three study found the two-dose vaccine was 93% effective, with efficacy "remaining durable" through six months after administration of the second dose. (CNBC)
* CVS stops giving J&J Covid vaccines in pharmacies (CNBC)
Regeneron (REGN) stock added 3.3% in premarket trading after beating top and bottom-line estimates by a wide margin. Results were boosted by demand for its Covid antibody cocktail, which surged to nearly $2.6 billion, accounting for more than half of the drugmaker's total U.S. net product revenue. (Reuters)
Booking Holdings (BKNG) lost an adjusted $2.55 per share for the second quarter, wider than the loss Wall Street had been anticipating. However, revenue was above estimates and nearly tripled for the parent of Priceline, Kayak and other travel services, as travel demand jumped amid increasing vaccinations and an easing of restrictions. The stock added 3.1% in the premarket. (Reuters)
Etsy (ETSY) shares sank 12% in the premarket after the online crafts marketplace late Wednesday reported lower-than-expected user growth. Etsy did top estimates with quarterly earnings of 68 cents per share. Revenue also beat projections. The stock was up 55% over the past 12 months. (CNBC)
Shares of Roku (ROKU) fell more than 8% in Thursday's premarket, one day after the video streaming device maker reported disappointing user growth. Roku did crush estimates with quarterly earnings of 52 cents per share. Revenue also exceeded estimates. The stock was up over 150% in the past 12 months. (CNBC)
Uber (UBER) shares dropped 4% in Thursday's premarket, the morning after the ride-hailing and food delivery company reported a surprise quarterly profit of 58 cents per share. Analysts had expected a 51 cent loss. While revenue also beat, the stock was under pressure with Uber revealing that quarterly profit came largely come from its investments. The stock was up more than 25% in the past 12 months. (CNBC)
President Joe Biden will set a new national target on Thursday for the adoption of electric vehicles, calling for them to represent 40% to 50% of all new auto sales by 2030, according to senior administration officials. Executives from each of the Detroit automakers are scheduled to attend an event Thursday at the White House. The president will sign an executive order on the sales target, but it's not mandatory. (CNBC)
STOCKS TO WATCH
Penn National (PENN) is buying digital media and sports betting company Score Media (SCR) for $2 billion in cash and stock, sending Score shares soaring by 72.4% in premarket trading.
Fastly (FSLY) lost 14 cents per share for the second quarter, less than analysts had predicted. However, the cloud software company's revenue missed forecasts, and it said a widespread network outage in June will continue to impact results for the rest of the year. Shares tumbled 22% in the premarket.
Electronic Arts (EA) beat estimates by 12 cents with adjusted quarterly earnings of 79 cents per share, and the videogame maker's revenue also topped analyst forecasts. EA also gave an upbeat current-quarter forecast, on strength in franchises like "FIFA 2021". The stock jumped 3.4% in premarket trading.
Lemonade (LMND) shares lost 8.8% in the premarket after the insurance company reported a sales decline and quarterly losses that more than doubled from a year earlier. However, Lemonade did issue a better than expected full-year revenue forecast.
Cigna (CI) beat estimates by 28 cents with adjusted quarterly earnings of $5.24 per share, with revenue also beating estimates. The insurance company did note a negative impact of higher medical costs, and the stock fell 3.7% in premarket trading.
Wayfair (W) shares leaped 8.7% in the premarket after its quarterly profit of $1.89 per share came in well above the consensus estimate of $1.15. The home furnishings seller also said it's $3.9 billion in revenue during the quarter is well above pre-pandemic run rates.