Here Are 3 Hot Things to Know About Stocks Right Now
- The Dow Jones Industrial Average Rose Wednesday Amid Optimism and China negotiators could kick-start a trade deal before another round of tariffs.
- Activision Blizzard Inc. (ATVI) rose 7% after the video game maker unveiled a stock buyback and cost-cutting program that offset than- expected profit outlook
- Johnson & Johnson (JNJ) reached a deal to acquire privately held surgical robotic technologies manufacturer Auris Health for about $ 3.4 billion in cash.
Wall Street Overview
13, amid optimism that the self-imposed deadline for a trade deal between the U.S. and China could be extended if the two sides make progress in reaching an agreement.
Donald Trump raised the prospect of an extension to the March 2 deadline, when tariffs on $ 200 billion worth of China-made goods could increase to 25% from 1
"If we are close to a deal where we think we can make a real deal and it's going to get done, I could see myself letting that slide for a little while," Trump said. "But generally speaking, I'm not inclined to do that … we're doing very well in China."
The modestly sober tone, which came ahead of key talks between Treasury Secretary Steven Mnuchin, Trade Representative Robert Liu He is on Thursday and Friday in Beijing, suggested the two sides see some progress on key issues such as intellectual property as well as forced technology transfers that have been held as sticking points to a comprehensive agreement by officials in Washington.
Separately, Trump intends to sign the border security deal to avoid another partial shutdown, CNN reported, citing two sources who have spoken directly with him. The deadline for Congress to pass the bill and get it signed by Trump is Friday, Feb. 15.
The Dow Jones Industrial Average was up 118 points, or 0.46%, to 25,543, the S&P 500 rose 0.3%, and the Nasdaq gained 0.08%.
The Consumer Price Index was unchanged in January, below estimates that called for an increase of 0.1%. Core CPI, which excludes food and energy prices, rose 0.2%. Consumer prices over the last 12 months rose 1.6%, down from 1.9% in December
Activision Blizzard Inc. (ATVI) rose 7% Wednesday after the video game maker unveiled a stock buyback and cost-cutting program that offset -than-expected profit outlook for the company called a "transition year" in 2019. . Activision said it expects adjusted earnings in 2019 or $ 2.10 share on sales of about $ 6.3 trillion, both of which were well shy of Wall Street forecasts.
However, the market impact was mutated to a degree by Activision's plans to purchase $ 1.5 trillion worthy of stock and cut 800 jobs – around 8% of its total workforce – as it shifts resources to game development.
Johnson & Johnson (JNJ) rose 0.2% Wednesday after the company announced that it was purchasing privately held surgical Auris Health's robotic technologies for about $ 3.4 billion in cash.
J&J is a holding company in Jim Cramer's Action Alerts PLUS member club. Want to be alerted before Jim Cramer buys or sells the stock? Learn more now.
Groupon Inc. (GRPN) tumbled 11.1% after the online marketplace posted-than-expected fourth-quarter earnings, including three consecutive years of revenue declines, and forecast flat profit guidance for 2019.
Twilio Inc. (TWLO) fell 7.3% after fourth-quarter revenue to analysts' estimates but fell flat and issued a weak profit outlook for the first quarter.
Generic drugmaker Teva Pharmaceutical Industries Ltd. (TEVA) reported fourth-quarter adjusted earnings of 53 cents, and expects full-year adjusted profit of $ 2.20 to $ 2.50 on sales or $ 17 billion to $ 17.4 billion, which is also below forecasts. . Shares fell 7.8%.
Cisco Systems Inc. (CSCO) posted better-than-expected results for its fiscal second quarter after the closing bell Wednesday. Shares rose in after hours trading
Cisco is a holding company in Jim Cramer's Action Alerts PLUS member club. Want to be alerted before the Cramer buys or sells CSCO? Learn more now.