U.S. stock futures are rallying this morning, driven by gains in the energy sector. Wall Street is digesting President Donald Trump’s decision to pull out of the U.S./Iran nuclear deal, which includes heavy sanctions on the oil-producing country.
Speaking of oil, the June contract was last seen higher by nearly 3% at roughly $71 per barrel.
Heading into the open, futures on the Dow Jones Industrial Average are up 0.46%, S&P 500 futures have added 0.41% and Nasdaq-100 futures have gained 0.30%.
Turning to the options pits, volume remained anemic yesterday as traders remained on the sidelines ahead of Trump’s announcement on Iran. Overall, only about 15.7 million calls and 12.8 million puts crossed the tape. On the CBOE, the single-session equity put/call volume ratio rebounded from recent lows to arrive at 0.61 — a one-week high. The 10-day moving average held at 0.64.
Best Energy Stocks To Buy Right Now: Oasis Petroleum Inc.(OAS)
- [By Lisa Levin]
Companies Reporting After The Bell
Hertz Global Holdings, Inc. (NYSE: HTZ) is projected to post quarterly loss at $1.31 per share on revenue of $1.97 billion.
International Flavors & Fragrances Inc. (NYSE: IFF) is estimated to post quarterly earnings at $1.59 per share on revenue of $909.36 million.
Zillow Group, Inc. (NASDAQ: ZG) is expected to post quarterly earnings at $0.06 per share on revenue of $294.79 million.
General Cable Corporation (NYSE: BGC) is estimated to post quarterly earnings at $0.15 per share on revenue of $980.61 million.
Central Garden & Pet Company (NASDAQ: CENT) is expected to post quarterly earnings at $0.84 per share on revenue of $598.45 million.
Cabot Corporation (NYSE: CBT) is estimated to post quarterly earnings at $1 per share on revenue of $746.42 million.
Fabrinet (NYSE: FN) is expected to post quarterly earnings at $0.71 per share on revenue of $319.71 million.
National General Holdings Corp. (NASDAQ: NGHC) is projected to post quarterly earnings at $0.55 per share on revenue of $1.08 billion.
The Navigators Group, Inc. (NASDAQ: NAVG) is estimated to post quarterly earnings at $0.75 per share on revenue of $320.92 million.
Diplomat Pharmacy, Inc. (NYSE: DPLO) is expected to post quarterly earnings at $0.22 per share on revenue of $1.29 billion.
Trex Company, Inc. (NYSE: TREX) is projected to post quarterly earnings at $1.19 per share on revenue of $172.22 million.
AMC Entertainment Holdings, Inc. (NYSE: AMC) is expected to post quarterly earnings at $0.09 per share on revenue of $1.35 billion.
Envision Healthcare Corporation (NYSE: EVHC) is projected to post quarterly earnings at $0.64 per share on revenue of $2.02 billion.
Regal Beloit Corporation (NYSE: RBC) is estimated to post quarterly earnings at $1.23 per share on revenue of $869.64 million.
Amedisys, Inc. (NASDAQ: AMED) is projected to post quarterly earnings at $0.67 per share on revenue of $39
- [By Max Byerly]
Oasis Petroleum (NYSE:OAS) has been given a $10.00 price target by equities researchers at Stifel Nicolaus in a report issued on Tuesday. The brokerage presently has a “hold” rating on the energy producer’s stock. Stifel Nicolaus’ target price points to a potential downside of 11.82% from the stock’s current price.
- [By Benzinga News Desk]
The curtain could come down any day on MoviePass’ bumpy run as an independent company: Link
Chicago Fed national activity index +0.10 vs +0.27 expected
The Composite Purchasing Managers' Index for April will be released at 9:45 a.m. ET.
Existing home sales report for March is schedule for release at 10:00 a.m. ET.
The Treasury is set to auction 3-and 6-month bills at 11:30 a.m. ET.
Deutsche Bank upgraded Michael Kors (NYSE: KORS) from Hold to Buy
RBC downgraded Paylocity (NASDAQ: PCTY) from Outperform to Sector Perform
Suntrust downgraded Oasis Petroleum (NYSE: OAS) from Hold to Sell
This is a tool used by the Benzinga News Desk each trading day — it's a look at everything happening in the market, in five minutes. To get the full version of this note every morning, click here.
- [By Garrett Baldwin]
Oil prices are at levels we haven’t seen in years. U.S. crude topped $70 for the first since 2014, as U.S. President Donald Trump appeared increasingly likely to pull out of the Iran nuclear deal and reinforce sanctions on Tehran. In addition, OPEC has announced plans to bolster prices and cap production. For oil investors, Money MorningGlobal Energy Strategist Dr. Kent Moors says it’s time to buckle up. According to Moors, revoking the Iran deal would cause “price chaos” around the globe. And that’s right as driving season starts in the United States. Here’s more on the coming chaos for oil. In deal news, Blackstone Group (NYSE: BX) announced it will purchase Gramercy Property Trust (NYSE: GPT) for $7.6 billion in cash. Grammercy manages commercial real estate. While this may seem like a boring deal, Blackstone is buying a business that churns out cold hard cash for its investors. We want to keep this deal on your radar, because there are many other deals like this coming down the pipeline. We’re going to be discussing one of the best real estate opportunities available very soon – so keep an eye out for updates.
Three Stocks to Watch Today: AMZN, AAPL, TSN, SBUX
Shareholders of Amazon.com Inc. (Nasdaq: AMZN) cheered statements made by Warren Buffett over the weekend. The Oracle of Omaha said he messed up by not investing in Amazon and Alphabet Inc. (Nasdaq: GOOGL). “I made the wrong decisions on Google and Amazon,” Buffett said on Saturday. “We’ve looked at it. I made the mistake in not being able to come to a conclusion where I really felt that at the present prices that the prospects were far better than the prices indicated.” Buffett says he now has a “very, very, very high opinion” of Amazon CEO Jeff Bezos. The Oracle believes that Bezos has created something that is “close to a miracle.” Apple Inc. (Nasdaq: AAPL) added another 0.6% Monday, to reach $185.00 per share – a new 52-week high. The uptick came after Warren Buffett announced
- [By Lisa Levin]
Check out these big penny stock gainers and losers
Akorn, Inc. (NASDAQ: AKRX) fell 32.7 percent to $13.25 in pre-market trading after Fresenius terminated its merger deal with Akorn.
Chicago Bridge & Iron Company N.V. (NYSE: CBI) fell 15.7 percent to $12.30 in pre-market trading. Subsea 7 confirmed a $7.00 per share proposal to acquire Mcdermott, pending termination of merger agreement with CB&I.
Myomo, Inc. (NYSE: MYO) fell 9 percent to $3.65 in pre-market trading after rising 11.39 percent on Friday.
Hasbro, Inc. (NASDAQ: HAS) fell 8 percent to $88.36 in pre-market trading after the company reported weaker-than-expected results for its first quarter on Monday.
SunPower Corporation (NASDAQ: SPWR) fell 7.1 percent to $9.00 in pre-market trading.
Endeavour Silver Corp. (NYSE: EXK) shares fell 5.9 percent to $2.88 in pre-market trading after declining 3.16 percent on Friday.
Mattel, Inc. (NASDAQ: MAT) shares fell 5.5 percent to $12.25 in pre-market trading.
Valeritas Holdings, Inc. (NASDAQ: VLRX) shares fell 5.1 percent to $2.96 in pre-market trading after rising 76.27 percent on Friday.
GlobalSCAPE, Inc. (NYSE: GSB) fell 5.1 percent to $3.57 in pre-market trading.
Fresenius Medical Care AG & Co. KGaA (NYSE: FMS) shares fell 4.1 percent to $49.93 in pre-market trading.
Oasis Petroleum Inc. (NYSE: OAS) fell 4.1 percent to $9.75 in pre-market trading. SunTrust Robinson Humphrey downgraded Oasis Petroleum from Hold to Sell
Best Energy Stocks To Buy Right Now: ENSERVCO Corporation(ENSV)
- [By Logan Wallace]
Enservco (NYSEAMERICAN:ENSV) will be issuing its quarterly earnings data before the market opens on Wednesday, May 9th.
Enservco (NYSEAMERICAN:ENSV) last issued its earnings results on Thursday, March 22nd. The oil and gas producer reported ($0.04) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.01) by ($0.03). Enservco had a negative return on equity of 89.94% and a negative net margin of 43.71%. The business had revenue of $14.13 million during the quarter.
Best Energy Stocks To Buy Right Now: Profire Energy, Inc.(PFIE)
- [By Lisa Levin] Gainers
Acacia Communications, Inc. (NASDAQ: ACIA) shares rose 18.3 percent to $37.25 in pre-market trading after gaining 1.74 percent on Friday.
Kitov Pharma Ltd (NASDAQ: KTOV) rose 12.1 percent to $2.69 in pre-market trading after surging 4.80 percent on Friday.
NXP Semiconductors N.V. (NASDAQ: NXPI) rose 10.9 percent to $109.75 in pre-market trading after Bloomberg reported that the China’s Commerce Ministry has restarted its review of QUALCOMM Incorporated’s (NASDAQ: QCOM) proposed takeover of NXP Semiconductors.
Renewable Energy Group, Inc. (NASDAQ: REGI) rose 10.6 percent to $15.20 in pre-market trading. Renewable Energy will replace Synchronoss Technologies Inc. (NASDAQ: SNCR) in the S&P SmallCap 600 on Tuesday, May 15.
NeoPhotonics Corporation (NYSE: NPTN) rose 10 percent to $6.40 in pre-market trading.
Vaxart, Inc. (NASDAQ: VXRT) shares rose 8 percent to $5.54 in pre-market trading after gaining 2.19 percent on Friday.
Profire Energy, Inc. (NASDAQ: PFIE) rose 7.3 percent to $4.58 in pre-market trading after gaining 6.22 percent on Friday.
Marvell Technology Group Ltd. (NASDAQ: MRVL) rose 7 percent to $22.49 in pre-market trading after falling 1.96 percent on Friday.
Oclaro, Inc. (NASDAQ: OCLR) shares rose 6.9 percent to $9.16 in pre-market trading.
TransEnterix, Inc. (NYSE: TRXC) rose 5.7 percent to $2.24 in pre-market trading after gaining 3.92 percent on Friday.
CVR Refining, LP (NYSE: CVRR) rose 5.4 percent to $19.70 in pre-market trading.
Federal Agricultural Mortgage Corporation (NYSE: AGM) rose 5.2 percent to $92.95 in pre-market trading.
International Game Technology PLC (NYSE: IGT) rose 5.2 percent to $29.94 in pre-market trading.
Lumentum Holdings Inc. (NASDAQ: LITE) shares rose 5.1 percent to $66.30 in the pre-market trading session.
Net 1 UEPS Technologies, Inc. (NASDAQ: UEPS) shares rose 5 percent to $10.70 in pre-market trading after climbing 15.66 percent on Friday.
Best Energy Stocks To Buy Right Now: Contango Oil & Gas Company(MCF)
- [By Stephan Byrd]
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