Caterpillar, GameStop, Dave & Buster, Intel and Trade – 5 Things You Must Know

Here are five things you must know for Wednesday, April 3:

1. – Stocks higher than the US China Trade Agreement as 90% Done

US. Stock futures were higher on Wednesday, and global stocks climbed reports of a breakthrough in trade negotiations between Washington and Beijing.

White House Economic Adviser Larry Kudlow told the US Chamber of Commerce on Tuesday that a "bigger and bigger discussion" on trade took place with China, and that the United States expects to make "more head start" in talks with Vice Premier Liu He later this week in Washington.

"We're entering the playoffs," said Myron Brilliant, executive vice president of international affairs at the US Chamber of Commerce, reported the Financial Times. "Ninety percent of the deal is finished, but the last 1[ads1]0% is the hardest part, it's the hardest part, and it will require rejection on both sides."

Contracts related to the Dow Jones Industrial Average rose 115 points, Futures for the S & P 500 received 15 points, and the Nasdaq futures were up 46.75 points.

The global oil price also rose for a fourth consecutive increase, taking Brent to within a few pennies of $ 70 a barrel, a level last seen in early November, when data showed that OPEC production levels hit four months.

The US economic calendar contains the ADP's National Employment March report at 8:15 ET, the March 9 PM PMI Services Index, 9:45 PM, the March 10 PM ISM Index and the week's oil stocks ended March 29 at 9 am. 10.30

Results reports are expected Wednesday from Acuity Brands (AYI – Get Report) and Signet Jewelers (SIG – Get report).

2. – Caterpillar Slides as Analyst downgrades the shares to "Hold"

Caterpillar (CAT – Get Report) declined in the premarket trading Wednesday after Deutsche Bank analysts cut their valuation on the stock, among other things, that the industrial components' order book could record negative growth during short term as the global economy slows down.

Germany's analyst Chad Dillard Dillard cut his stock valuation to stop buying with a $ 128 price target, saying that if the order backlog is negative, a negative revenue revision cycle would normally go on for about three months. It usually sees analysts trimming estimates by as much as 45%, triggering sharp stock quotes, Dillard says.

"Synchronized global growth has collapsed, China's country cycle rolls over (and will continue to weaken despite the individual positive data points this week)," Dillard wrote. "Europe is dropping more than expected, and the US is over-saturated with construction equipment."

Caterpillar shares fell 0.9% in prime trading to $ 138.99. The shares have risen 10.3% so far.

3 – GameStop Falls on weak earnings, weak guidance

shares in GameStop (GME – Get Report) tumbled in premarket trading Wednesday after the video game retailer badly lost fourth quarter earnings estimates and issued weak guidance.

GameStop posted adjusted fourth-quarter revenue of $ 1.45 per share on revenue of $ 3.06 billion, below analysts' earnings expectations of $ 1.60 per share on revenue of $ 3.28 billion.

"As we think about 2019 and beyond, we recognize the challenges facing our pre-owned video game industry, and we are prepared to tackle them as we continue to develop our business model forward," said Chief Operating Officer Rob Lloyd in a press release. "Essentially, we will continue to leverage our strong growth brand, and with a new cost-saving and performance improvement initiative in place, we will focus our efforts on profitability."

For the year, three of its six corporate segments have experienced one New hardware sales fell 1.3% and new software sales fell 5.1% The company's pre-owned gaming sales declined by 13.2%

For the coming fiscal year, the company expects total sales and same-store sales. sales to fall between 5% and 10%, GameStop said it expects losses in the first financial quarter of up to 5 cents per share.

GameStop fell 11.9% in premarket trading to $ 8.90.

4 – Dave & Buster is increasing strongly in profits Beat

Dave & Buster's Entertainment (PLAY – Get Report) rose sharply in premarket trading after the arcade and restaurant chain reported fourth-quarter adjusted earnings of 66 cents a share of revenue on $ 331.8 million, beats analysts' forecasts in both calculations.

Trading with the same store in the period rose 2.9%, higher than analysts' forecasts of 2.2%. Sales jumped in part, on a new virtual reality gaming platform that utilizes movie series like "Men in Black" and "Star Trek."

"We are pleased to complete the year with a strong note. In a comparable week Based on our double-digit revenue growth in the fourth quarter, when comparable store sales increased 2.9%, and good business performance continued, CEO says CEO Brian Jenkins

Dave and Buster said they expect operating profits in the region of $ 285 million to $ 300 million from revenues that could rise to $ 1.4 billion over the fiscal year, planning to open between 15 and 16 new locations. with a capital expenditure of $ 200 million, while forecasts for comparable retail sales that will be flat at around 1.5% higher than in 2018.

The stock rose 6.8% in the premarket trade to $ 53.90

5 – Intel Names Qualcomms George Davis as CFO

Intel (INTC – Get Report) named George Davis as his new CFO, employed the rival from chip rival Qualcomm (QCOM – Get Report).

At Intel, Davis will fill the role now r Bob Swan was appointed CEO in January.

Davis, 61, worked at Qualcomm since 2013. He wants to lead Intel's global finance organization, the company said.

Davis and Swan have worked together before. Before joining Qualcomm, Davis served as CFO of Applied Materials while the swan was on the board, Reuters noted.

Qualcomm, under the name of David Wise, senior vice president and cashier, as temporary finance director while the company is seeking a permanent replacement, Qualcomm said in a statement.


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