Market Overview

#PreMarket Primer: Wednesday, February 19: Tesla Earnings Expected Today

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Despite being closed on Monday, U.S. markets had a relatively quiet day Tuesday.

The Dow lost about 24 points to close at 16,130.40. The S&P was up 0.1 percent, or about two points, to 1,840.76 and the NASDAQ saw a sharp rise to finish 0.7 percent higher at 4,272.78.

Wednesday morning, U.S. markets are trending lower. The Dow is indicated down about 21 points while the S&P is four points lower. The NASDAQ is trending down about six points.

Investors will have eyes on Tesla as it reports its fourth-quarter earnings.

Related: Market Wrap For February 18: Dow Finishes Lower, Nasdaq Still Hot

Top Stories

  • At least 25 killed in violent clashes between protesters and police in Ukraine.
  • Herbalife (NYSE: HLF) rose more than 10 percent after better than expected earnings.

Asian Markets

The Shanghai Composite rose to a two month high while other markets were mixed. The Nikkei was down about 0.5 percent to close at 14,776.53 and the Hang Seng was up nearly 0.3 percent to finish at 22,664.52.

The Shanghai Composite closed 1.1 percent higher at 2,142.55 and the Kospi was 0.2 percent lower closing at 1,942.93.

European Markets

Europe is mixed this morning as world markets await the minutes from the most recent meetings of the U.S. Federal Reserve and the Bank of England. The FTSE is 0.2 percent lower at 6,784.95 and the DAX is 0.2 percent lower at 9,634.85. Finally, the CAC is 0.1 percent lower at 4,324.70.

Commodities

Commodities are mixed. WTI is up about 0.2 percent at $102.65 while Brent is down 0.3 percent at $110.16. Natural gas is four percent higher at $5.77 as the rally continues.

Gold is down about 0.4 percent at $1,318.70 and silver is lower by about 0.5 percent at $21.77. Copper is unchanged at $3.28.

Currencies

The euro is flat against the dollar at 1.374 and the dollar is about 0.2 percent lower against the yen at 102.07

The pound is 0.1 percent lower against the dollar at 1.667 and the Aussie dollar is at 0.903 against the dollar—up about 0.1 percent.

Pre-Market Movers

  • Semiconductor Manufacturing International (NYSE: SMI) is down 19 percent while Blucora (NASDAQ: BCOR) is down 15 percent. Ellie Mae (NYSE: ELLI) is down more than nine percent and Livedeal (NASDAQ: LIVE) is down another nine percent from yesterday.
  • Forest Labs (NYSE: FRX) is indicated 33 percent higher and Actavis (NYSE: ACT) is up 12 percent.

Notable Earnings

Earnings reports from Tuesday:

  • Duke Energy (NYSE: DUK) reported fourth quarter EPS of $0.95, missing the consensus estimate of $1.00. Revenue of $6.15 billion missed the consensus estimate of $6.32 billion.
  • Coca-Cola (NYSE: KO) reported fourth quarter EPS of $0.46, in-line with the consensus estimate. Revenue of $3.5 billion missed the consensus estimate of $3.58 billion.

The following companies will report today:

  • Devon Energy (NYSE: DVN) is estimated to report its Q4 earnings at $1.08 per share on revenue of $2.69 billion.
  • MGM Resorts International (NYSE: MGM) is estimated to report a Q4 loss at $0.01 per share on revenue of $2.46 billion.
  • Tesla Motors (NASDAQ: TSLA) is expected to post its Q4 earnings at $0.21 per share on revenue of $677.36 million.

To read today’s full earnings calendar, click here.

Economics

Housing starts hit the market at 8:30 AM ET along with the Redbook at 8:55. Most notable, the FOMC minutes will be released at 2:00 PM ET.

Posted-In: Actavis Blucora ellie mae Forest Labs Herbalife Semiconductor Manufacturing internationalEarnings News Eurozone Futures Commodities Forex Economics Pre-Market Outlook Markets Best of Benzinga

 

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