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Pre-Bell|U.S. Stock Index Futures Slip on Ukraine Jitters; Kremlin Denies Report of Major Progress in Talks

Tiger Newspress2022-03-17

U.S. stock index futures edged lower on Thursday as Russia tempered expectations around peace talks with Ukraine after a Federal Reserve interest rate hike fueled a Wall Street rally a day earlier.

Signs of progress in the talks to end what Russia calls "a special military operation" had helped global stocks surge this week, but the Kremlin said on Thursday there was no deal yet.

A Kremlin spokesman said a report of major progress in talks with Ukraine was “wrong” but that discussions will continue on Thursday.

Market Snapshot

At 8:00 a.m. ET, Dow e-minis were down 105 points, or 0.31%, S&P 500 e-minis were down 14 points, or 0.32%, and Nasdaq 100 e-minis were down 54.5 points, or 0.39%.

Pre-Market Movers

Dollar General (DG) – Dollar General rallied 5% in the premarket after the discount retailer forecast better-than-expected full-year sales. Dollar General’s quarterly earnings of $2.57 per share matched forecasts, although revenue was slightly below estimates and same-store sales fell more than expected. The company also raised its dividend by 31%.

Accenture PLC (ACN) – Accenture jumped 5.3% in premarket trading after beating top and bottom-line estimates for its latest quarter and forecasting current-quarter revenue above current analyst forecasts. The consulting firm earned $2.54 per share for its most recent quarter, compared with the $2.37 consensus estimate.

Signet Jewelers (SIG) – The jewelry retailer’s stock surged 7.4% in premarket action after it reported quarterly results. Signet’s adjusted earnings of $5.01 per share matched analyst forecasts, while revenue and same-store sales exceeded estimates. Signet also raised its quarterly dividend to 20 cents from 18 cents.

Warby Parker Inc. (WRBY) – Warby shares slumped 13.4% in the premarket after the eyewear retailer forecast 2022 revenue that fell short of consensus. For its latest quarter, Warby Parker reported an adjusted loss of 8 cents per share, 1 cent smaller than expected, with revenue matching analyst forecasts.

Lennar (LEN) – The homebuilder reported quarterly earnings of $1.69 per share for its fiscal first quarter, missing the $2.60 consensus estimate. Revenue beat analyst forecasts on strong demand and higher prices, but the bottom line was hit by higher costs for materials and labor. Lennar added 1% in premarket trading.

Williams-Sonoma (WSM) – Williams-Sonoma earned an adjusted $5.42 per share for its latest quarter, beating the $4.82 expected by Wall Street analysts, even as the housewares retailer’s revenue fell slightly short of estimates. The company said it was able to navigate supply chain challenges and material and labor shortages. Williams-Sonoma surged 7.6% in the premarket.

PagerDuty, Inc. (PD) – PagerDuty lost an adjusted 4 cents per share for its latest quarter, 2 cents less than analysts were anticipating, with the digital operations platform provider’s revenue also exceeding Street forecasts. PagerDuty also issued an upbeat revenue forecast, and its stock soared 13.6% in premarket trading.

Occidental (OXY) –Berkshire Hathaway(BRK.B) bought another 18.1 million shares of Occidental, according to an SEC filing. That brings Berkshire’s holdings in the energy producer to 136.4 million shares, or about a 14.6% stake. Occidental shares rose 3.6% in premarket trading.

Guess (GES) – Guess reported adjusted quarterly earnings of $1.14 per share, one cent below estimates, while the apparel maker’s revenue also fell short of Street forecasts. However, profit margins were better than anticipated, and the stock jumped 4.9% in the premarket.

Market News

U.S. tech giant Microsoft is facing an antitrust complaint filed by three European rivals in the booming cloud computing business, one the plaintiffs said on Thursday.

Yum China Holdings Inc said on Thursday its board had raised the restaurant chain's share repurchase plan by $1 billion to $2.4 billion.

XPeng's entire model lineup will see price hikes starting March 21, with the P7 going up by RMB 20,000 ($3,152) and the P5 and G3i both going up by RMB 10,000, local media said.

Alphabet's Google unit has agreed to a deal to buy Raxium, a startup that develops light-emitting diodes for augmented and mixed reality devices, according to The Information.

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Comment48

  • MuffinsDaddy
    ·2022-03-17
    K
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  • SSSG
    ·2022-03-17
    Ok
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  • Hk01
    ·2022-03-17
    Ok
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  • Bry8950
    ·2022-03-17
    Like
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  • zhengliang96
    ·2022-03-17
    Great ariticle, would you like to share it?
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  • Kendaman
    ·2022-03-17
    Oh dearie
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  • Bluetulips
    ·2022-03-17
    Ok
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  • Mooimooi
    ·2022-03-17
    Like pls
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  • yraymond
    ·2022-03-17
    Like
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  • Troedas
    ·2022-03-17
    Hmm
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  • MauChin
    ·2022-03-17
    Hope end of war is coming soon.
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  • SteadyDoesIt
    ·2022-03-17
    Ok
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  • gkwok1902
    ·2022-03-17
    Pls like
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  • Rolliopan
    ·2022-03-17
    Ok
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  • Gamestonk11
    ·2022-03-17
    1
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  • PCX
    ·2022-03-17
    Like
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  • thesushimao
    ·2022-03-17
    Wow pls like
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  • N00b
    ·2022-03-17
    Ok like pls
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  • Munyee
    ·2022-03-17
    Wow pls like
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  • Ong2021
    ·2022-03-17
    Ok
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