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2024-07-13

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Pre-Bell｜U.S. Futures Are Flat; Tesla Drops 2% After UBS Downgrade; Wells Fargo Slumps 6%; Meta Down 2%

U.S. stock futures were little changed Friday morning after the S&P 500 had its worst session since April, as investor evaluated the start of second-quarter earnings reporting season.Market SnapshotAt

Pre-Bell｜U.S. Futures Are Flat; Tesla Drops 2% After UBS Downgrade; Wells Fargo Slumps 6%; Meta Down 2%

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Futures linked to the Dow Jones Industrial Average were up around 0.1%, while Nasdaq 100 futures were flat.</p><p></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/3073b7957a9a3da4d4455cdb03cf1c7a\" title=\"\" tg-width=\"308\" tg-height=\"143\"/></p><h2 id=\"id_4262469929\">Pre-Market Movers</h2><p><a href=\"https://laohu8.com/S/NVDA\">NVIDIA Corp</a> tumbled 5.6% on Thursday amid the selloff in big name tech shares, was up 0.2% in premarket trading. <a href=\"https://laohu8.com/S/META\">Meta Platforms, Inc.</a> fell nearly 2% after closing down 4.1% on Thursday.</p><p style=\"text-align: start;\"><a href=\"https://laohu8.com/S/T\">AT&amp;T Inc</a> declined 2%. The telecommunications giant customer data was illegally downloaded from its workspace on a third-party cloud platform. AT&amp;T learned of the breach in April. The company has launched an investigation.</p><p style=\"text-align: start;\"><a href=\"https://laohu8.com/S/FAST\">Fastenal</a> was up 2.2%. The distributor of industrial and construction supplies reported second-quarter sales of $1.91 billion, up from $1.88 billion a year earlier and matching estimates.</p><h2 id=\"id_1288056626\">Market News</h2><h3 id=\"id_930969513\" style=\"text-align: start;\">Tesla Is Downgraded by UBS Due to Valuation Concerns</h3><p><a href=\"https://laohu8.com/S/TSLA\">Tesla Motors</a> fell 2% in early trading on Friday after UBS downgraded the electric vehicle giant to a Sell rating after having it slotted at Neutral. UBS analyst Joseph Spak and his team noted that the premium Tesla trades at is due to its future growth initiatives may be reeled back.</p><p style=\"text-align: left;\">&#34;While TSLA is investing heavily in AI and the tech is making progress, investment is costly, the pace of improvement may slow, and the payoff is long-dated,&#34; he warned. &#34;If market enthusiasm for AI diminishes, this may impact TSLA&#39;s multiple,&#34; added Spak.</p><p style=\"text-align: left;\">After crunching the numbers, the UBS analysts think the valuation of the core auto business is between $60 and $90 per share, the valuation of the Tesla energy business is ~$57 per share, and the robotaxi business is estimated to have a value of around $18 per share. That large gap from TSLA&#39;s current trading price led to the new bear rating on the stock.</p><p>UBS assigned a price target of $197 based on a 55X price-to-earnings multiple.</p><h3 id=\"id_4077910416\">JPMorgan Chase Q2 Earnings Fall Short as Provision for Credit Losses Climbs</h3><p><a href=\"https://laohu8.com/S/JPM\">JPMorgan Chase</a>, the largest U.S. bank by assets, turned in Q2 earnings that trailed the Wall Street consensus, as the company bolstered the amount of money it sets aside for potential credit losses. Investment banking fees rebounded, and market revenue improved.</p><p style=\"text-align: left;\">JPM stock slipped 1.5% in Friday premarket trading.</p><p style=\"text-align: left;\">The company affirmed its full-year net interest income guidance of ~$91B issued in May and compares with Visible Alpha consensus of $91.0B.</p><h3 id=\"id_4205616524\">Wells Fargo Misses Interest Income Estimates as Deposit Costs Bite, Shares Slump</h3><p><a href=\"https://laohu8.com/S/WFC\">Wells Fargo</a>&#39;s second-quarter profit declined and the lender missed analysts&#39; estimates for interest income on higher deposit costs amid intense competition for customers&#39; money, sending its shares down more than 6% in premarket trading.</p><p>Net interest income (NII) -- or the difference between what a bank earns on loans and pays out for deposits -- slid 9% to $11.92 billion. Analysts on average had expected $12.12 billion, according to LSEG data.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Pre-Bell｜U.S. Futures Are Flat; Tesla Drops 2% After UBS Downgrade; Wells Fargo Slumps 6%; Meta Down 2%</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nPre-Bell｜U.S. Futures Are Flat; Tesla Drops 2% After UBS Downgrade; Wells Fargo Slumps 6%; Meta Down 2%\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2024-07-12 19:58</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>U.S. stock futures were little changed Friday morning after the S&amp;P 500 had its worst session since April, as investor evaluated the start of second-quarter earnings reporting season.</p><h2 id=\"id_727646980\">Market Snapshot</h2><p>At 07:52 a.m. ET, S&amp;P 500 futures were marginally higher. Futures linked to the Dow Jones Industrial Average were up around 0.1%, while Nasdaq 100 futures were flat.</p><p></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/3073b7957a9a3da4d4455cdb03cf1c7a\" title=\"\" tg-width=\"308\" tg-height=\"143\"/></p><h2 id=\"id_4262469929\">Pre-Market Movers</h2><p><a href=\"https://laohu8.com/S/NVDA\">NVIDIA Corp</a> tumbled 5.6% on Thursday amid the selloff in big name tech shares, was up 0.2% in premarket trading. <a href=\"https://laohu8.com/S/META\">Meta Platforms, Inc.</a> fell nearly 2% after closing down 4.1% on Thursday.</p><p style=\"text-align: start;\"><a href=\"https://laohu8.com/S/T\">AT&amp;T Inc</a> declined 2%. The telecommunications giant customer data was illegally downloaded from its workspace on a third-party cloud platform. AT&amp;T learned of the breach in April. The company has launched an investigation.</p><p style=\"text-align: start;\"><a href=\"https://laohu8.com/S/FAST\">Fastenal</a> was up 2.2%. The distributor of industrial and construction supplies reported second-quarter sales of $1.91 billion, up from $1.88 billion a year earlier and matching estimates.</p><h2 id=\"id_1288056626\">Market News</h2><h3 id=\"id_930969513\" style=\"text-align: start;\">Tesla Is Downgraded by UBS Due to Valuation Concerns</h3><p><a href=\"https://laohu8.com/S/TSLA\">Tesla Motors</a> fell 2% in early trading on Friday after UBS downgraded the electric vehicle giant to a Sell rating after having it slotted at Neutral. UBS analyst Joseph Spak and his team noted that the premium Tesla trades at is due to its future growth initiatives may be reeled back.</p><p style=\"text-align: left;\">&#34;While TSLA is investing heavily in AI and the tech is making progress, investment is costly, the pace of improvement may slow, and the payoff is long-dated,&#34; he warned. &#34;If market enthusiasm for AI diminishes, this may impact TSLA&#39;s multiple,&#34; added Spak.</p><p style=\"text-align: left;\">After crunching the numbers, the UBS analysts think the valuation of the core auto business is between $60 and $90 per share, the valuation of the Tesla energy business is ~$57 per share, and the robotaxi business is estimated to have a value of around $18 per share. That large gap from TSLA&#39;s current trading price led to the new bear rating on the stock.</p><p>UBS assigned a price target of $197 based on a 55X price-to-earnings multiple.</p><h3 id=\"id_4077910416\">JPMorgan Chase Q2 Earnings Fall Short as Provision for Credit Losses Climbs</h3><p><a href=\"https://laohu8.com/S/JPM\">JPMorgan Chase</a>, the largest U.S. bank by assets, turned in Q2 earnings that trailed the Wall Street consensus, as the company bolstered the amount of money it sets aside for potential credit losses. Investment banking fees rebounded, and market revenue improved.</p><p style=\"text-align: left;\">JPM stock slipped 1.5% in Friday premarket trading.</p><p style=\"text-align: left;\">The company affirmed its full-year net interest income guidance of ~$91B issued in May and compares with Visible Alpha consensus of $91.0B.</p><h3 id=\"id_4205616524\">Wells Fargo Misses Interest Income Estimates as Deposit Costs Bite, Shares Slump</h3><p><a href=\"https://laohu8.com/S/WFC\">Wells Fargo</a>&#39;s second-quarter profit declined and the lender missed analysts&#39; estimates for interest income on higher deposit costs amid intense competition for customers&#39; money, sending its shares down more than 6% in premarket trading.</p><p>Net interest income (NII) -- or the difference between what a bank earns on loans and pays out for deposits -- slid 9% to $11.92 billion. Analysts on average had expected $12.12 billion, according to LSEG data.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉",".IXIC":"NASDAQ Composite","META":"Meta Platforms, Inc.","T":"At&T","JPM":"摩根大通","WFC":"富国银行",".SPX":"S&P 500 Index",".DJI":"道琼斯","NVDA":"英伟达","FAST":"快扣"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1122807525","content_text":"U.S. stock futures were little changed Friday morning after the S&P 500 had its worst session since April, as investor evaluated the start of second-quarter earnings reporting season.Market SnapshotAt 07:52 a.m. ET, S&P 500 futures were marginally higher. Futures linked to the Dow Jones Industrial Average were up around 0.1%, while Nasdaq 100 futures were flat.Pre-Market MoversNVIDIA Corp tumbled 5.6% on Thursday amid the selloff in big name tech shares, was up 0.2% in premarket trading. Meta Platforms, Inc. fell nearly 2% after closing down 4.1% on Thursday.AT&T Inc declined 2%. The telecommunications giant customer data was illegally downloaded from its workspace on a third-party cloud platform. AT&T learned of the breach in April. The company has launched an investigation.Fastenal was up 2.2%. The distributor of industrial and construction supplies reported second-quarter sales of $1.91 billion, up from $1.88 billion a year earlier and matching estimates.Market NewsTesla Is Downgraded by UBS Due to Valuation ConcernsTesla Motors fell 2% in early trading on Friday after UBS downgraded the electric vehicle giant to a Sell rating after having it slotted at Neutral. UBS analyst Joseph Spak and his team noted that the premium Tesla trades at is due to its future growth initiatives may be reeled back.\"While TSLA is investing heavily in AI and the tech is making progress, investment is costly, the pace of improvement may slow, and the payoff is long-dated,\" he warned. \"If market enthusiasm for AI diminishes, this may impact TSLA's multiple,\" added Spak.After crunching the numbers, the UBS analysts think the valuation of the core auto business is between $60 and $90 per share, the valuation of the Tesla energy business is ~$57 per share, and the robotaxi business is estimated to have a value of around $18 per share. That large gap from TSLA's current trading price led to the new bear rating on the stock.UBS assigned a price target of $197 based on a 55X price-to-earnings multiple.JPMorgan Chase Q2 Earnings Fall Short as Provision for Credit Losses ClimbsJPMorgan Chase, the largest U.S. bank by assets, turned in Q2 earnings that trailed the Wall Street consensus, as the company bolstered the amount of money it sets aside for potential credit losses. Investment banking fees rebounded, and market revenue improved.JPM stock slipped 1.5% in Friday premarket trading.The company affirmed its full-year net interest income guidance of ~$91B issued in May and compares with Visible Alpha consensus of $91.0B.Wells Fargo Misses Interest Income Estimates as Deposit Costs Bite, Shares SlumpWells Fargo's second-quarter profit declined and the lender missed analysts' estimates for interest income on higher deposit costs amid intense competition for customers' money, sending its shares down more than 6% in premarket trading.Net interest income (NII) -- or the difference between what a bank earns on loans and pays out for deposits -- slid 9% to $11.92 billion. 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