Robinhood, PayPal, AMC, Nvidia and Markets-5 things you should know
Here are five things you need to know for Tuesday, November 9:
1. – Stock futures are mixed amid Fed leadership and inflation concerns
U.S. equity futures traded mixed on Tuesday, as investors injected a note of caution into markets after last night’s double streak of all-time highs, amid questions over the leadership of the Federal Reserve and the pace of inflation as the final months of the year approach.
The S&P 500 closed at an all-time high for the eighth consecutive session last night, extending the longest winning streak since 1997, as investors added the $ 1 trillion impact of new government stimulus to their plans. stock market valuations.
Overnight reports that President Joe Biden interviewed Fed Governor Lael Brainard for the top central bank post, which will open early next year, however, has instilled caution on markets, pulling U.S. Treasury yields lower and slashing gains on equity futures ahead of factory gate inflation data at 8:30 a.m. and another pre-recorded appearance by Fed Chairman Jerome Powell, more late in the session.
Futures linked to the Dow Jones Industrial Average show an opening decline of 20 points while those linked to the S&P 500 are valued 1 point higher than last night’s record close of 4,701.70 points.
Tech-Driven Nasdaq Composite Futures Show 30 Points Gain In Part Due To AMD’s Pre-Market Advances (AMD) – Get the Advanced Micro Devices, Inc. and Nvidia (NVDA) – Get the NVIDIA Corporation report as well as a decline in 10-year Treasury bond yields to 1.460%.
2. – Robinhood reveals details of a security breach
Robinhood Markets (HOOD) – Get the Robinhood report Shares collapsed in pre-market trading after the e-commerce group exposed a cybersecurity breach that could have affected more than 5 million customers.
Robinhood said the breach was caused by an “unauthorized party” who “socially designed a customer support employee over the phone and gained access to certain customer support systems” and was able to obtain the e- mail of 5 million customers, as well as the full names of a different group of 2 million customers.
Only around 310 accounts presented more personal information, Robinhood said, adding that no social security numbers or bank account details were ultimately revealed.
Robinhood shares were marked 3.2% lower in pre-market trading to indicate an opening bell price of $ 36.79 each.
3. – PayPal tops third quarter revenue and reveals link with Amazon
PalPay Holdings (PYPL) – Get the PayPal Holdings Inc report stocks fell in pre-market trading after the payment group posted higher-than-expected earnings in the third quarter, but provided a lukewarm initial outlook for 2022 earnings.
PayPal’s adjusted profit for the three months ending September was $ 1.11 per share, beating Street’s forecast by 4 cents, but revenue growth of 13%, to $ 6.18 billion , fell just short of estimates, and its 2022 earnings outlook of $ 6.26 per share disappointed investors, even as the group added to the impact of a partnership with Amazon (AMZN) – Get the Amazon.com, Inc. report which will allow customers to pay with Venmo, at checkout, starting next year.
PayPal shares fell 3.3% on pre-market trading to indicate an opening bell price of $ 221.80 each.
4. – AMC Turns To NFTs After Third Quarter Loss
AMC Entertainment (AMC) – Get the Class A report from AMC Entertainment Holdings, Inc. shares collapsed in pre-market trading after the movie theater chain posted a smaller-than-expected third-quarter loss, while warning there are “other challenges ahead”
AMC’s loss for the three months ending in September was 44 cents a share, just inside Street’s forecast of 53 cents, although earnings improved to $ 763.2 million as Moviegoers have returned to theaters amid the rise in COVID vaccinations and hit releases.
CEO Adam Aron also unveiled plans to issue redeemable “NFTs” of key movie releases, but noted that “the virus continues to be with us” and recognized the need to boost ticket sales after the pandemic.
AMC shares rose 4.9% in pre-market trading to indicate an opening bell price of $ 42.85 each.
Nvidia shares surged in pre-market trading after the chipmaker unveiled a new set of tools designed for software professionals developing programs for the so-called “metaverse.”
Nvidia will market the tools, known as Omniverse Enterprise, through partners such as Dell Technologies and Lenovo Group, while leveraging its own chips in developing the kind of three-dimensional world expected in metaverse projects. from social media giant Facebook FB.
“While recent Facebook / Meta announcements have drawn attention to the topic, NVIDIA has taken a step forward and created its Omniverse platform to enable the metaverse across multiple industries,” said Ambrish Srivastava, analyst of BMO Capital Markets. “We see the company as the primary catalyst and beneficiary of this technology.”
Nvidia shares were marked 4.5% higher in pre-market trading to indicate an opening bell price of $ 321.80 each.