
The Dow, S&P 500, and Nasdaq managed to eke out small gains for the month of April. |
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Quotes as of 5/1/2018 8:02:01 AM ET |
BY THE NUMBERS |
U.S. stock futures were lower this morning on the first day of May following an afternoon sell-off on Monday
erased earlier gains and left the Dow, S&P 500, and Nasdaq lower on
the session. However, those three stock measures did manage to eke out
small gains for April. (CNBC)
• 'Sell in May and go away' doesn't apply this year, market bull: Tony Dwyer (CNBC)
• 'Sell in May and go away' doesn't apply this year, market bull: Tony Dwyer (CNBC)
Three Dow components are releasing earnings today. Pfizer (PFE) and Merck (MRK) were out with mixed quarterly results this morning, with both beating forecasts on profit but missing on revenue. Apple (AAPL) issues earnings after the bell. (CNBC)
• Apple's quarterly earnings could turn the tide for the stock (CNBC)
• Apple may give investors less cash than they expect: Barclays (CNBC)
• Apple's quarterly earnings could turn the tide for the stock (CNBC)
• Apple may give investors less cash than they expect: Barclays (CNBC)
The Fed begins a two-day policy meeting
this morning, with an interest rate decision and policy statement set for tomorrow afternoon. No rate hike is expected this time, and there's no post-meeting news conference. (CNBC)
As central bankers meet today, they get some economic data to consider. The ISM's April manufacturing index and the government's March construction spending are both out at 10 a.m. ET. (CNBC)
• Small-business optimism stays near record: CNBC/SurveyMonkey
• Small-business optimism stays near record: CNBC/SurveyMonkey
IN THE NEWS TODAY
President Donald Trump
postponed the deadline
on steel and aluminum tariffs for some allies, including the European
Union, for 30 days to allow further discussions. The tariffs are already
in effect against China, Japan, Russia and others. (CNBC)
• Trump pushes back tariff exemptions but Europe is still not happy (CNBC)
• Trump pushes back tariff exemptions but Europe is still not happy (CNBC)
The New York Times obtained a list of questions
special counsel Robert Mueller has for Trump as part of his ongoing
investigation into the 2016 presidential election. The series of
open-ended questions include the president's firing of former FBI
director James Comey.
• Comey: Trump should submit to Mueller interview (Axios)
• Comey: Trump should submit to Mueller interview (Axios)
GOP Senator Marco Rubio told the Economist magazine there is "
no evidence whatsoever"
the new tax law significantly helped U.S. workers. Rubio, who voted for
the proposal, said instead corporations bought back shares and gave out
bonuses.
South Korean President Moon Jae-in asked the United Nations
to help verify
North Korea's planned shutdown of its nuclear test site. The North,
several days before the historic summit between Moon and Kim Jong Un,
had promised to dismantle its site. (Reuters)
• Mnuchin: 'No question' Trump sanctions brought North Korea to negotiating table (CNBC)
• Mnuchin: 'No question' Trump sanctions brought North Korea to negotiating table (CNBC)
Israeli Prime Minister Benjamin Netanyahu revealed a cache of files he claimed were obtained from Iran and proved the country ran a secret program to build nuclear weapons. Trump must decide in two weeks whether to pull out of the Iran nuclear deal.
Porn star Stormy Daniels
filed a new lawsuit
against Trump, accusing him of defaming her in a tweet that said she
was pulling a "con job" on the news media. Daniels already was suing
Trump seeking to void a nondisclosure agreement she signed. (CNBC)
Actress Ashley Judd sued disgraced Hollywood mogul Harvey Weinstein, alleging he tried to
destroy her acting career
after she refused his sexual advances. The lawsuit said Weinstein's
actions prevented her from working in an Oscar-winning film franchise.
(USA Today)
The co-founder of WhatsApp, the messaging service Facebook (FB) bought for $19 billion in 2014,
is leaving the company at a time when Facebook reels from revelations of Russian election manipulation, fake news, and data leaks. (CNBC)
• Facebook privacy changes leave developers steaming ahead of today's conference (NY Times)
• Facebook privacy changes leave developers steaming ahead of today's conference (NY Times)
Twitter (TWTR) will
bring original shows
from Comcast's (CMCSA) NBCUniversal, Disney (DIS) and Viacom (VIA),
among others, to its platform. The company also announced it's launching
a division to help online influencers make scripted series. (CNBC)
Medicare chief Seema Verma
exclusively told CNBC
it's time that health care catches up with other industries when it
comes to providing consumers greater transparency about prices. The
agency proposed earlier this week that hospitals post their prices
online.
Sanofi (SNY) and Regeneron (REGN)
have agreed
to lower the price of their cholesterol medicine in exchange for easier
access for patients covered by pharmacy benefit manager Express Scripts
(ESRX), the first of a number of deals the drugmakers hope to strike to
increase use of their drug. (CNBC)
Boeing (BA)
will buy
aircraft parts maker KLX (KLX) for about $3.2 billion in cash or $63
per share. KLX had said it would review strategic options in December.
KLX shares were losing about 10 percent in the premarket, though still
trading above the offer price. (Reuters)
STOCKS TO WATCH |
Under
Armour (UAA) reported a breakeven quarter, which was better than
estimates that called for a 5 cent loss. The sports apparel and shoe
company also reported higher than expected revenues. The struggling
stock of late was up about 3 percent in the premarket.
Akamai
Technologies (AKAM) reported adjusted quarterly profit of 79 cents per
share, 9 cents above estimates, with revenue also beating forecasts. The
provider of internet content delivery technology saw its results
boosted by its push into cloud security.
Texas
Roadhouse (TXRH) matched forecasts with quarterly profit of 76 cents
per share, with its revenue slightly above estimates. Comparable
restaurant sales were higher by 4.9 percent at company-owned restaurants
and 3.9 percent at franchised locations.
Cognex
(CGNX) came in 4 cents above Street forecasts with adjusted quarterly
profit of 24 cents per share, but the maker of machine vision technology
saw revenue miss forecasts and it also gave weaker-than-expected
full-year guidance.
Tenet
Healthcare (THC) reported an unexpected quarterly profit, with revenue
also beating forecasts, and the hospital operator also issued strong
full-year guidance as it benefited from lower costs and a jump in
patient visits.
BP
(BP) reported its highest quarterly profit in almost four years, helped
by a rebound in oil and gas prices and increasing production.
WATERCOOLER |
Good news for Oreo fans. The company will begin rolling out three limited-edition flavors
(cherry cola, kettle corn and pina colada) and will host a contest to
determine the public's favorite. The creator of the winning flavor will
receive $500,000. (USA Today)
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