Start the conversation
Good morning! For Nov. 3, 2015, here is your top stock market news and stocks to watch…
Stock Futures Today
Futures for the Dow Jones Industrial Average today (Tuesday) were down 21 points as investors keep a keen eye on a busy day of earnings reports. Optimism remains high as the S&P 500 topped the 2,100-point benchmark yesterday for the first time since August.
Yesterday, the Dow Jones Industrial Average added 165 points to turn positive for 2015 after optimism increased due to positive manufacturing data from around the globe. Although the U.S. manufacturing index sunk to a two-and-a-half-year low, markets were positive thanks to a report indicating manufacturing orders were on the rise. Meanwhile, the Nasdaq hit a 15-year high as healthcare stocks surged thanks to increased merger and acquisition activity. In addition, shares of Apple Inc. (Nasdaq: AAPL) added more than 1%, while the iShares Nasdaq Biotechnology ETF (Nasdaq: IBB) gained more than 3.5%.
Top News in the Stock Market Today
- Stock Market Today: A light economic calendar features monthly motor vehicle sales, the September update on factory orders, and the October Gallup Economic Confidence Index.
- Oil Outlook: Oil prices were on the rise this morning despite concerns the global glut is expected to rise in the face of falling demand. December futures for WTI crude were up about 1.6% to hit $46.86 per barrel, while Brent crude added 1.1% to trade at $49.32 per barrel.
Earnings Outlook: TSLA, HLF, ATVI
- Earnings Report No. 1, TSLA: After the bell, Tesla Motors Inc. (Nasdaq: TSLA) will report fiscal third-quarter earnings. The automotive firm is expected to report an EPS loss of $0.53 on revenue of $1.21 billion.
- Earnings Report No. 2, HLF: After the bell, Herbalife Ltd. (NYSE: HLF) will report third-quarter earnings. The health marketing company is expected to report earnings of $1.07 per share on revenue of $1.15 billion.
- Earnings Report No. 3, ATVI: This morning, Activision Blizzard Inc. (Nasdaq: ATVI) reported quarterly earnings of $0.21 per share on revenue of $1.04 billion. The figures crushed quarter estimates expected by Wall Street and came after the company announced its $5.9 billion purchase of "Candy Crush" maker King Digital Entertainment Plc. (NYSE: KING). Analysts projected a consensus return of $0.16 per share on revenue of $946.7 billion. Shares were still off by 0.25% this morning.
- Additional companies reporting earnings include Groupon Inc. (Nasdaq: GRPN), Zynga Inc. (Nasdaq: ZNGA), Zillow Inc. (Nasdaq: Z), Cerner Corp. (Nasdaq: CERN), and Kellogg Co. (NYSE: K).
Pre-Market Movers: KING, GILD, HPQ, HPE
- Pre-Market Movers No. 1, KING: Shares of King Digital Entertainment Plc. (NYSE: KING) were up 15% this morning on news Activision Blizzard will buy the mobile gaming firm for roughly $5.9 billion.
- Pre-Market Movers No. 2, GILD: Shares of Gilead Sciences Inc. (Nasdaq: GILD) are a must buy, according to Money Morning Defense & Tech Specialist Michael A. Robinson. Here's a breakdown of how you can make 66.5% on this stock in the near future.
- Pre-Market Movers No. 3, HPQ: Hewlett-Packard Co. has officially split into two publicly traded companies. The PC and printer division will remain the core company HP Inc. and trade under the ticker symbol (NYSE: HPQ). The other company, Hewlett Packard Enterprises, will trade under the NYSE ticker (NYSE: HPE). Here's your insight into whether this split can help you profit.
Today's U.S. Economic Calendar (all times EST)
- Motor Vehicle Sales in the Premarket hours.
- Gallup US ECI at 8:30 a.m.
- Redbook at 8:55 a.m.
- Factory Orders at 10 a.m.
- 4-Week Bill Auction at 11:30 a.m.
What Investors Must Know This Week
- Grab Double-Digit Gains from This Analyst "Fail"
- Three Game Changers Fueling a Natural Gas Rebound
- Brace Yourself for This $2 Trillion Global Disruption
Follow us on Twitter: @moneymorning
About the Author
Garrett Baldwin is a globally recognized research economist, financial writer, and consultant with degrees from Northwestern, Johns Hopkins, Purdue, and Indiana University. He is a seasoned financial and political risk analyst, with a focus on stocks, hedge funds, private equity, blockchain, and housing policy. He has conducted risk assessment projects for clients in 27 countries, and consulted on policy and financial operations for some of the nation's largest financial institutions, including a $1.5 trillion credit fund, a $43 billion credit and auto loan giant, as well as two of the largest Wall Street banks by assets under management.
Garrett joined Money Map Press as an economist and researcher in 2011, specializing in alternative strategies with an emphasis on fundamental and technical analysis.