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Market Wrap: pre-opening session |
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U.S. market futures gain some ground after major U.S. stock indexes closed higher yesterday, led by technology stocks. The Nasdaq 100 rose 268 points (+1.09%) to 24,977, and the S&P 500 gained 52 points (+0.77%) to 6,890.
The Dow Jones was up 370 points (+0.76%) to 49,174.
No major economic stat is expected today in the U.S.
European indices are trading green with the STOXX Europe 600 index posting new all-time highs. On the stat front, Germany's GfK consumer confidence index was -24.7 for March vs -23.8 expected and -24.2 in February (revised from -24.1).
Asian indexes were well oriented with Japan's Nikkei 225 and South Korea's Kospi both hitting new record highs. On the stat plan, Australia's inflation rate stayed at 3.8% year-on-year in January, above 3.7% estimated.
WTI crude oil futures consolidate below 66.00 dollars.
Silver jumps above 90.00 dollars while gold still consolidates below 5,250 dollars.
Bitcoin slightly rebounds after halting its correction, currently trading around above 65,000 dollars.
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Nvidia (NVDA), a chip giant, is slightly higher as the company is expected to post quarterly results after market close.
HP (HPQ), a provider of computers, printers and printer supplies, drops after warning that it "expects to be at the lower end of the fiscal 2026 guidance range for GAAP diluted net EPS, non-GAAP diluted net EPS and free cash flow."
Warner Bros. Discovery (WBD), a media and entertainment company, said Paramount Skydance (PSKY) sweetened its buyout offer to 31 dollars per share from 30 dollars per share.
Lowe's (LOW), a home improvement retailer, loses ground as full-year same-store sales and earnings forecasts missed estimates.
Lucid Group (LCID), an electric automotive company, is badly oriented quarterly loss per share was wider than expected. However, sales beat estimates. Also, the company said it is cutting 12% of its U.S. workforce.
CAVA Group (CAVA), a Mediterranean fast-casual restaurant brand, pops as quarterly financial figures as well as full-year guidance all topped expectations.
Workday (WDAY), a leader in enterprise cloud applications for finance and human resources, tumbles as current quarter subscription revenues forecast failed to impress investors. As well, current quarter operating margin guidance missed estimates.
CoStar Group (CSGP), a leader in commercial real estate information, drops as current quarter adjusted EPS forecast missed expectations.
First Solar (FSLR), a maker of solar panels, tumbles as quarterly adjusted EPS missed estimates. Moreover, full-year sales guidance also disappointed investors.
MercadoLibre (MELI), a Latin American online trading site, gains ground as quarterly sales topped estimates.
Axon Enterprise (AXON), a weapons and technology company, surges on better-than-expected full-year sales growth guidance. Moreover, quarterly financial figures also beat expectations.
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Nvidia (NVDA)
TJX Companies (TJX)
Salesforce (CRM)
Lowe's Companies (LOW)
Synopsys (SNPS)
Medline (MDLN)
Snowflake (SNOW)
Heico (HEI)
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Earning Release:
Bank of Montreal (BMO)
Loblaw Companies Ltd (L)
National Bank of Canada (NA)
WSP Global Inc (WSP)
CCL Industries Inc (CCL.B)
On Tuesday, the S&P/TSX Composite Index rose 0.57% to 33,970, and the S&P/TSX 60 Index was up 0.35% to 1,958.
Loblaw (L), a retailer, posted quarterly adjusted Ebitda up 11.3% to 1.775 billion dollars on sales up 11.3% to 16.38 billion dollars. Both figures missed estimates.
Barrick Mining (ABX)'s, a gold producer, target price was raised to 91 dollars from 89 dollars at JPMorgan.
National Bank of Canada (NA), a banking group, unveiled quarterly adjusted EPS up to 3.25 dollars, above expectations, from 2.93 dollars a year earlier
Element Fleet Management (EFN), a fleet management group, reported quarterly adjusted EPS up to 0.33 dollar, yet below estimates, from 0.27 dollar a year earlier. Sales rose 16% to 313.4 million dollars, slightly above expectations.
Cargojet (CJT), a provider of air cargo services, posted quarterly adjusted Ebitda up 3.6% to 95.0 million dollars. Sales fell 2.9% to 284.7 million dollars, yet above estimates.
Topaz Energy (TPZ), a royalty and energy infrastructure company, unveiled quarterly net income up 64% to 32.7 million dollars. The company announced a quarterly dividend of 0.34 dollar per share.
Altus Group (AIF)'s, a leading provider of asset and fund intelligence for commercial real estate, target price was cut to 55 dollars from 67 dollars at TD Cowen.
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