Stock futures rose after slight employment report in May
BY THE NUMBERS
Actions of AMC Entertainment (AMC) fell 4% in Friday’s pre-market, in a week of wild Reddit-fueled trading that saw the stock nearly double on Wednesday, then retreat nearly 18% on Thursday. CEO Adam Aron met Trey Collins, host of “Trey’s Trades” on YouTube on Thursday evening. Many of the channel’s subscribers are AMC investors. (CNBC)
* AMC is worth about half of its skyrocketing price, Collins told CNBC
After two separate stock sales this week that generated around $ 800 million in cash, Aron urged shareholders in last night’s “Trey’s Trades” interview to support a new $ 25 million issuance plan. additional actions. Aron reiterated that AMC is exploring a number of acquisition opportunities. (CNBC)
Bitcoin fell nearly 5% to around $ 36,700 on Friday morning, hours after Tesla (TSLA) CEO Elon Musk tweeted a meme showing a couple breaking up and using a bitcoin hashtag and a heartbroken emoji. Other cryptocurrencies, notably ether and dogecoin, also sank. In May, Musk said Tesla would stop accepting bitcoin as a payment method due to concerns about its energy use. (CNBC)
Billionaire investor Bill Ackman’s special purpose acquisition firm, Pershing Square Tontine Holdings (PSTH), confirmed on Friday that it was in talks to buy 10% of Universal Music Group for around $ 4 billion. The deal would value Universal Music at around $ 42 billion. The holding company said the deal would not result in a merger and that Universal Music would have a planned public listing. (CNBC)
U.S. companies are monitoring infrastructure talks between President Joe Biden and Senator Shelley Moore Capito, the GOP’s top negotiator. They plan to meet again on Friday. At their meeting on Wednesday, Biden proposed a minimum 15% corporate tax as part of a compromise to pay for a smaller $ 1,000 billion infrastructure package. (PA)
Biden has extended restrictions on U.S. investment in certain Chinese companies with suspected ties to the country’s military and surveillance efforts, continuing some parts of the harsh tact former President Donald Trump took in talks with Beijing. In an executive order, Biden banned US investors from taking financial stakes in 59 Chinese companies. (CNBC)
FBI Director Christopher Wray said in an interview with the Wall Street Journal that the agency is investigating around 100 different types of ransomware, many of which can be traced to bad actors in Russia. Wray also compared the current wave of cyberattacks with the challenge posed by the terrorist attacks of September 11, 2001. “There are many parallels,” he said.
The House Judiciary Committee is about to question Former White House lawyer Don McGahn closed behind closed doors on Friday, two years after House Democrats initially requested his testimony in inquiries into former President Donald Trump. The panel agreed that McGahn will only be questioned about information attributed to him in the publicly available portions of Robert Mueller’s report on Russia. (PA)
* Trump bears some blame for the Jan.6 insurgency, says former House Speaker John Boehner (CNBC)
* Pence says he will probably never agree with Trump during siege (PA)
Facebook (FB) plans to end a controversial policy championed by CEO Mark Zuckerberg which exempted politicians from certain moderation rules on his site, according to several press articles. The social media giant is currently considering what to do with Trump’s account, which was “indefinitely” suspended after the attack on Capitol Hill. (PA)
* Facebook affected by new antitrust investigations in UK and EU (CNBC)
Alphabet’s Google (GOOGL) removed a senior member of its diversity team during anti-Semitic talk in a 2007 blog post, marking the second time in a month that a large tech company has been forced to make a staff change following public outcry over previous writings from an executive. (WSJ)
Health authorities try to determine though heart inflammation that can occur with many types of infections could also be a rare side effect in adolescents and young adults after receiving the second dose of the Covid vaccine. (PA)
STOCKS TO MONITOR
Shares of DocuSign (DOCU) rose 7% in pre-market trading after the company beat Wall Street forecast of 16 cents per share, with quarterly profit of 44 cents per share. Revenue has also exceeded estimates, and DocuSign has given an optimistic outlook as more companies embrace its electronic signature technology.
The discount retailer’s Five Below (FIVE) shares jumped 6% in pre-release, after first-quarter earnings and revenue significantly exceeded Street’s expectations. Same-store sales jumped 162% from the same quarter a year ago.
The provider of MongoDB (MDB) lost 15 cents per share for its most recent quarter, less than half of the 37 cents per share expected by analysts. Revenue also exceeded estimates, as subscription sales jumped 40%. The database platform predicts a lower annual loss than expected. The stock jumped 6% in Friday’s pre-market.
Retailer Lululemon (LULU) reported quarterly profit of $ 1.16 per share, up from a consensus estimate of 91 cents per share. Revenue also exceeded expectations, benefiting from both customer feedback on physical sites and a surge in e-commerce sales. He also gave an optimistic forecast. The stock rose in the pre-market.
Shares of ChargePoint (CHPT), an electric vehicle charging network, rose 1% pre-market, despite reporting a larger-than-expected loss for its final quarter. Its earnings exceeded Wall Street expectations, however, and ChargePoint also maintained its earlier earnings outlook for 2021. Shares were up 2% in the pre-market.
CrowdStrike (CRWD) broke Wall Street forecast by 4 cents per share, with quarterly earnings of 10 cents per share. Revenue also exceeded expectations. The cybersecurity company added more than 1,500 new net subscriber customers. Stocks were little changed in pre-market trading.
Zumiez (ZUMZ) gained 6% in the pre-market after the clothing, footwear and athletic equipment seller beat estimates with a first quarter profit of $ 1.03 per share. Revenue also exceeded expectations. The retailer said its business has recovered beyond pre-pandemic levels.
Asana (ASAN), a maker of collaboration software, saw its shares rise 8.6% in pre-market after reporting a quarterly loss below expectations as its revenue and outlook beat consensus estimates.