China Tariffs, Uber IPO, Viacom, Symantec and Wynn – 5 Things You Must Know

Here are five things you need to know for Friday 10th. May:

1. – Stock Futures Slip as US increases tariffs on Chinese goods

US. Stock futures were modest on Friday as investors responded to Donald Trump's decision to raise tariffs on China-made goods in the steepest escalation of the ongoing trade war between the world's two largest economies.

The president did well on his threat, first revealed in a tweet five days ago, raising tariffs to 25% on about 5700 product categories involving around $ 200 billion of Chinese imports. However, the new tariff level will not apply to goods that have already been led to the United States, and give Washington and Beijing a two-week window to try to reach a comprehensive agreement that could reduce tariff increases.

China's Trade Department promised retaliation and said in a statement Friday that unspecified countermeasures would be deployed after the "disappointing" US decision, but the two-week window, as well as the fact that China's Vice President Liu Han remains in Washington for a second Today's conversations with top US trade representatives raised global feeling.

Contracts related to the Dow Jones Industrial Average fell 22 points, S&P 500 futures fell 5.70 points, and Nasdaq futures were down 5.50 points. The indexes are headed for their worst weekly returns so far in 201[ads1]9.

The economic calendar in US Friday includes the consumer price index for April at 8:30 am. ET. Economists surveyed by FactSet expects consumer inflation to rise by 0.4% in April, steady by March, while Kerne CPI, which excludes food and energy, increases by 0.2%. The year-to-year CPI is estimated at 2.1%.

Marriott International (MAR – Get Report) earned $ 1.41 a share in the first quarter, 7 cents better than analysts' estimates. Revenue of $ 5.01 billion missed forecasts of $ 5.11 billion. The hotel company said it expects second quarter revenues of $ 1.52 to $ 1.58 per share, below estimates of $ 1.62.

Results reports are also expected Friday from Viacom (VIAB – Get Report), Cars.com (Get Report) Tribune Media (TRCO – Get Report), JD.com (Get Report) and Weatherford International (WFT – Get Report).

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2. – Uber's IPO values ​​Ride-Hailing Giant at $ 82 Billion

The original public offer to Uber Technologies was priced at $ 45 per share, close to the bottom of $ 44 to the $ 50 area that the giant giant basically set in a regulatory submission.

At $ 45 per share, Uber would be valued at $ 82 billion, a lower valuation than previous reports had suggested. The company will raise about $ 8 billion in the deal.

The value of the valuation makes Uber the largest stock exchange listing since Alibaba (BABA – Get Report) was released in 2014 for a valuation of $ 231 billion.

Ubers IPO is a much anticipated event for the markets, but how it will act as a public stock is far from certain.

Rival Lift (LYFT), which was released March 29 at $ 72 per share, has fallen 32.4% since then with questions about the ability to win. There was a larger than expected loss in their first earnings report this week, but Lyft's managers told investors that 2019 will be a "top year" for losses.

Uber reported a $ 1 billion loss in the first quarter along with slow top line growth.

Uber is expected to start trading Friday on the New York Stock Exchange under the ticker symbol (UBER).

3. – Symantec plunges after CEO Greg Clark has agreed

Symantec (SYMC – Get Report) died 16.3% in premarket trading Friday at $ 18.55 after CEO Greg Clark agreed and the anti-virus software vendor issued weaker than expected income guidance.

Director Richard Hill was appointed interim managing director to replace Clark, who led the security software company for three years.

Adjusted earnings in the fourth quarter were 39 cents a share of NOK 1.19 billion. Analysts had requested a profit of 39 cents per share on sales of $ 1.21 billion.

"Our Enterprise Security revenue was below our guidance area due to lower than expected orders, which led to annualized billing falling larger than we expected," Hill said in a statement. "Despite this weakness, we remain confident in our integrated cyber defense strategy, which has produced a strong and competitive product portfolio."

Symantec said it expects revenues of 4.75 billion to $ 4.89 billion today and revenue between 57 cents and 73 cents per share. Analysts are asking for revenues of $ 4.97 billion and revenue of 56 cents per share.

The company also said that Vincent Pilette, former CFO of Logitech International, was appointed CFO and began May 21.

4. – Wynn Resorts Tumbles After Revenue Miss

Wynn Resorts (WYNN – Get Report) fell 4.6% in demand trading Thursday after casino operator revenues in the quarter had missed analysts' forecasts.

Adjusted earnings in the quarter were $ 1.61 some topping forecasts of 2 cents, but revenues of $ 1.65 billion fell 4% from the previous year and came below estimates of $ 1.67 billion.

CEO Matt Maddox said at a conference call that casino revenues would soon recover. ] "I don't know how long this area will be compressed, but what I know is the demand still there," Maddox said. "And then we feel very comfortable that when that business starts to come back, we'll be perfectly placed to catch it."

Wynn shares declined earlier this week among concerns that the company's significant operations in China will be adversely affected by the trade war between US and Chinese governments.

Wynn Resorts receives about 75% of its sales from China, according to FactSet.

5. – Bookkeeping Holdings First Quarter Bookings Top Estimates

Bookkeeping Holdings (BKNG – Get Report) increased 2.7% to $ 1,782.30 in premarket trading Friday after the travel agency's quarters in the quarter slightly higher than estimates and adjusted earnings came in lower than forecasts.

Quarterly bookings were $ 25.41 billion, above $ 25.31 billion estimates. Adjusted earnings were $ 11.17 per share, under Wall Street estimates at $ 11.30. Revenues of $ 2.83 billion lost estimates of $ 2.93 billion.

"Q1 was a solid start to the year," said CEO Glenn Fogel. "We recorded 217 million room nights booked in the quarter, up 10% year-on-year. We continue to perform at a very high market opportunity and will manage our business with a long-term view to capture it." [19659031] The company said it expects second-quarter orders to fall or rise by 1% from the previous year, a revenue growth of 5% to 7%, and earnings of $ 22.15 to $ 22.60. Analysts forecast earnings of $ 22.45 per share.