Novosti i prognoe: tržište kapitala od 21-04-2020

U.S. stock-index futures fell on Tuesday a gloomy Q1 earnings reports and a continuing rout in U.S. crude prices heightened concerns of a deep global recession in the coming months.

Global Stocks:

Wall Street. Stocks before the bell

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

Walmart (WMT) downgraded to Hold from Buy at Odeon

FXStreet reports that Morgan Stanley’s 2020 year-end price targets for the S&P 500 are exactly what they were in December because they were already assuming this year would likely include a recession, albeit a much milder one. 

“The monetary policy response has been effective in stabilizing credit spreads and equity risk premiums, which reached the same level for the S&P 500 observed at the lows of the Great Financial Crisis. Therefore, it's unlikely we will approach the same levels again anytime soon.”

“The policy response is like nothing we've ever seen either. And that means a V-shaped recovery next year is likely, which is what stocks are already starting to discount.”

“In S&P500 terms, a 200-week moving average of 2650 should provide very strong support on what could be a choppy few weeks as companies give us the bad news on earnings and there is more political posturing as states try to decide when to reopen.”

Travelers (TRV) reported Q1 FY 2020 earnings of $2.62 per share (versus $2.83 per share in Q1 FY 2019), missing analysts' consensus estimate of $2.83 per share.

The company's quarterly revenues amounted to $7.229 bln (+5.5% y/y), slightly missing analysts' consensus estimate of $7.301 bln.

The company's Board of Directors declared regular quarterly cash dividend of $0.85 per share, an increase of 4%.

TRV fell to $99.50 (-2.24%) in pre-market trading.

Coca-Cola (KO) reported Q1 FY 2020 earnings of $0.51 per share (versus $0.48 per share in Q1 FY 2019), beating analysts' consensus estimate of $0.45 per share.

The company's quarterly revenues amounted to $8.600 bln (+7.2% y/y), beating analysts' consensus estimate of $8.323 bln.

The company said that its FY 2020 financial and operating results cannot be reasonably estimated at this time due to the uncertainty around the coronavirus pandemic.

KO rose to $47.00 (+1.01%) in pre-market trading.

IBM (IBM) reported Q1 FY 2020 earnings of $1.84 per share (versus $2.25 per share in Q1 FY 2019), beating analysts' consensus estimate of $1.80 per share.

The company's quarterly revenues amounted to $17.571 bln (-3.3% y/y), generally in line with analysts' consensus estimate of $17.620 bln.

IBM withdrew its FY 2020 guidance in light of the current COVID-19 crisis. The company said it would reassess this position based on the clarity of the macroeconomic recovery at the end of Q2 FY 2020.

IBM fell to $115.50 (-4.08%) in pre-market trading.