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The top stocks to watch today (Thursday) are Anheuser Busch Inbev NV (NYSE ADR: BUD), ConocoPhillips (NYSE: COP), and Lululemon Athletica Inc. (Nasdaq: LULU).
Investors will be on the lookout for hints as to when the next rate hike will occur. Right now, there is a 50% chance that the next rate hike will happen in June, according to CME Group. However, four U.S. Federal Reserve members will be speaking today: Cleveland's Loretta Mester, Dallas' Robert Kaplan, San Francisco's John Williams, and New York's William Dudley.
Along with Fed speeches, there are a number of U.S. economic reports being released today. Quarterly GDP, personal consumption, core PCE, and initial jobless claims will all affect the probability of a June rate hike.
Now that we know what's moving markets, here are the three top stocks to watch today...
Top Stocks to Watch Today: Anheuser Busch Inbev NV (NYSE ADR: BUD)
Anheuser Busch stock is down 1.2% in early morning trading after announcing its commitment to 100% renewable energy.
Anheuser is the largest producer of beer in the world. It makes Budweiser, Corona, and Stella Artois.
The beer producer committed to transitioning to 100% renewable energy by 2025. The large majority of the renewable electricity, 75% to 85%, will come from direct Power Purchase Agreements. The remaining electricity will come from on-site solar projects.
The reason for the commitment is the desire to be the leader in the fight against climate change.
BUD stock is currently trading at $111.33 for a gain of 5.6% year to date.
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Top Stocks to Watch Today: ConocoPhillips (NYSE: COP)
ConocoPhillips stock is up 7.5% in early morning trading after announcing the sale of its assets in the oil sands region of Canada.
The company's sale is the third of its kind in the region this month. The ConocoPhillips sale is worth $13.3 billion. The assets were sold to Cenovus Energy Inc. (USA) (NYSE: CVE).
The sale will help ConocoPhillips pay down debt, return cash to shareholders, and reduce the average cost of production of oil. Currently, the company's average cost of production per barrel of oil stands at $40. The sale will help bring the average cost down to $35 per barrel.
COP stock is trading at $45.95 for an 8.4% gain so far this year.
Top Stocks to Watch Today: Lululemon Athletica Inc. (Nasdaq: LULU)
Lululemon stock is down 21% in early morning trading after reporting disappointing earnings.
The apparel retailer announced earnings per share (EPS) of $0.99, which is higher than the same quarter last year and just narrowly missed analysts' expectations of $1.01.
Revenue beat the expectation of $783 million. Lululemon reported $790 million in revenue for a growth of 12% over last year.
While the previous quarter numbers beat expectations of revenue, next quarter the company expects EPS to be $0.25 to $0.27. Analysts were expecting next quarter guidance of $0.39.
Revenue is also expected to miss expectations next quarter. The company announced guidance of $510 million to $515 million. Expectations were set at $533 million.
LULU stock is currently trading at $66.30 for a gain of 2% so far in 2017.
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