Analytics, News, and Forecasts for CFD Markets: stock news — 28-04-2020.

U.S. stock-index futures rose on Tuesday, as investors continued to be optimistic about the reopening efforts in some U.S. states and assessed a slew of big earnings reports.

Global Stocks:

(company / ticker / price / change ($/%) / volume)

Walt Disney (DIS) resumed with a Sector Perform at RBC Capital Mkts; target $110

Johnson & Johnson (JNJ) downgraded to Neutral from Buy at UBS; target lowered to $160

FXStreet reports that analysts at Credit Suisse note the S&P 500 has gapped higher, leaving the market pushing above the beginning of the ‘ideal’ recovery objective/resistance at 2879/83, although significantly on lower volume. 

“A test of the 63-day average at 2904 is still seen likely, potentially the 61.8% retracement of the Q1 collapse at 2934, but our view remains unchanged to look for a peak in this 2883/2934 zone.” 

“Should strength instead above 2934 this would open the door to a move to 2986, potentially a test of the pivotal 200-day average, now at 3007.” 

“Support moves to 2853 initially, then the lower of yesterday’s price gap at 2843/37, which needs to hold to maintain an immediate upside bias.” 

“VIX is expected to fall back to support at 27.27/22.60, the ‘neckline’ to the 2019/2020 large base, 78.6% retracement and 200-day average. We look for a fresh floor here.”

UPS (UPS) reported Q1 FY 2020 earnings of $1.15 per share (versus $1.39 per share in Q1 FY 2019), missing analysts' consensus estimate of $1.23 per share.

The company's quarterly revenues amounted to $18.035 bln (+5.1% y/y), beating analysts' consensus estimate of $17.174 bln.

The company withdrew its FY 2020 guidance.

UPS fell to $ 98.98 (-3.48%) in pre-market trading.

Pfizer (PFE) reported Q1 FY 2020 earnings of $0.80 per share (versus $0.85 per share in Q1 FY 2019), beating analysts' consensus estimate of $0.71 per share.

The company's quarterly revenues amounted to $12.028 bln (-8.3% y/y), beating analysts' consensus estimate of $11.381 bln.

The company also reaffirmed guidance for FY 2020, projecting EPS of $2.82-2.92 versus analysts' consensus estimate of $2.70 and revenues of $48.5-50.5 bln versus analysts' consensus estimate of $47.01 bln.

PFE rose to $39.00 (+1.75%) in pre-market trading.

Merck (MRK) reported Q1 FY 2020 earnings of $1.50 per share (versus $1.22 per share in Q1 FY 2019), beating analysts' consensus estimate of $1.34 per share.

The company's quarterly revenues amounted to $12.057 bln (+11.5% y/y), beating analysts' consensus estimate of $11.458 bln.

The company also lowered guidance for FY 2020, projecting EPS of $5.17-5.37 (down from $5.62-5.77 previously) versus analysts' consensus estimate of $5.54 and revenues of $46.1-48.1 bln (down from $48.8-50.3 bln previously) versus analysts' consensus estimate of $48.65 bln.

MRK fell to $82.51 (-1.75%) in pre-market trading.

Caterpillar (CAT) reported Q1 FY 2020 earnings of $1.60 per share (versus $2.94 per share in Q1 FY 2019), missing analysts' consensus estimate of $1.67 per share.

The company's quarterly revenues amounted to $10.635 bln (-21.0% y/y), missing analysts' consensus estimate of $10.980 bln.

CAT rose to $117.00 (+1.56%) in pre-market trading.

3M (MMM) reported Q1 FY 2020 earnings of $2.16 per share (versus $2.23 per share in Q1 FY 2019), beating analysts' consensus estimate of $2.01 per share.

The company's quarterly revenues amounted to $8.075 bln (+2.7% y/y), beating analysts' consensus estimate of $7.855 bln.

The company also withdrew its previously announced FY 2020 outlook, which was provided in January, as it "currently is not able to estimate the full duration, magnitude and pace of recovery across its diverse end markets with reasonable accuracy" due to "the evolving and uncertain impact of the COVID-19 pandemic".

MMM rose to $159.50 (+3.81 %) in pre-market trading.

Yandex N.V. (YNDX) reported Q1 FY 2020 earnings of RUB15.53 per share (versus RUB16.35 per share in Q1 FY 2019), missing analysts' consensus estimate of RUB20.55 per share.

The company's quarterly revenues amounted to RUB47.003 bln (+26.1% y/y), generally in line with analysts' consensus estimate of RUB47.256 bln.

The company also noted that "the extent to which the COVID-19 crisis impacts the Company's results will depend on future developments, which are highly uncertain and cannot be predicted."

YNDX rose to $37.50 (+1.46%) in pre-market trading.