Here are five things you need to know for Friday 17th. May:
1. – Stock Futures Case After Trade Tensions Heat Up
US. Stock futures fell on Friday and global stocks were mainly in retreat as investors are increasingly concerned about the potential for a trade deal and its long-term impact on the world economy.
Bank of Japan Governor Haruhiko Kuroda promised Friday to keep interest rates close to zero at least mid-next year, noting a weakening global economic outlook, making Japanese producers more cautious about spending.
Kuroda's remarks reiterated deeper concerns about the fate of the world economy among the growing US-China trade tensions following Donald Trump placing China's Huawei Technologies on a blacklist that prevented it from dealing with US companies without prior approval.
China's state-run media used printing, television and social media platforms to escape the US movement to censor Huawei and push the government to adapt its laws to facilitate free trade, with a head start in peoples' daily inv. position as "solid as a bully".
Contracts related to the Dow Jones Industrial Average fell 97 points, S&P 500 futures fell 1
The economic calendar of the US Friday includes consumer sentiment for May at 10.00 ET.
Deere (DE – Get Report) posted a weaker than expected fiscal result last year and lowered full-year earnings as "softer" agricultural market conditions and reduced export market access clarified its short-term forecasts.
2. – Nvidia is increasing, but the winnings are capped after Chipmaker withdraws year-round guidance
Nvidia (NVDA – Get Report) rose in premarket trading Friday after earnings that destroyed analysts expectations, but the gain was limited after the graphics chip maker said it was no longer provides full-year guidance.
Adjusted earnings in Nvidia's first quarter were 88 cents per share and forecasts with 30 cents. Revenues fell to $ 2.22 billion from $ 3.21 billion a year ago, and came in line with $ 2.2 billion. Gaming revenue of $ 1.06 billion beats forecasts, while data center revenue declined 10% from the previous year to $ 664 million.
Nvidia said it expects a $ 2.5 billion revenue of $ 2.6 billion to $ 2.6 billion. Analysts were looking for $ 2.54 billion in revenue.
Shares jumped more 6% after Nvidia's report, but withdrew after CFO Colette Kress made cautious comments on Nvidia's near-term earnings conference. In the premarket trading Friday, the stock rose 1.5% to $ 162.63.
"We still feel that I think the uncertainty of the break with the general hyperscale data centers. And we think it's going to stretch into Q2, Kress said." The core dynamics of our business at all levels is exactly what we expected . Only that said, we are coming back to only quarterly guidance at this time. "
" So, at this point we do not plan to give an all-year guidance, "she later added in the conversation.
" All in, while the headline numbers hit expectations, the segment results were somewhat of a mixed bag, "said Jim Cramer and the Action Alerts PLUS team, which holds Nvidia in the portfolio. more than priced at stocks given the well-known break in data center spending coming into the release and seeing the reconstruction in games as a decisive factor that serves to deal with concerns over a longer than anticipated gaming GPU inventory glance – again, as a result of crypto-mining requirements that disappeared along with the earlier decline in crypto prices. "
3. – Pinterest Slumps After Posting Wider-Expected Loss
Pinterest (PINS) tumbled 14.9% to $ 26.27 in premarket trading after the image distribution reported a loss in the first quarter wider than Wall Street expected.
The adjusted loss for the quarter was reduced to 32 cents per share from 38 cents the previous year, but was wider than forecasts that required a loss of 11 cents.
Earnings in the first quarter rose 54% to $ 202 million, before analysts estimates $ 200.7 million.
Pinterest said global monthly active users increased 22% from the previous year to 291 million
Earnings release Thursday was Pinterest's first since it debuted as a public company in April. Pinterest has worked well since its original public offering, which was priced at $ 19 per share
. "The IPO was an important milestone, but our focus on Pinterest has not changed. We want to help people discover inspiring ideas for every aspect of their life, from fashion and home decor to traveling and training," said Ben Silbermann, Pinterest's co-founder. President and CEO "Our success can be seen in our first quarter results and we are pleased to continue to increase our reach and influence over the years to come."
4. – Luckin Coffee is valued at $ 4.2 billion in the IPO
Luckin Coffee's first public offering was priced at the higher end of his target area, and set up a debut on Friday at Nasdaq, which will appreciate the Chinese base of Starbucks (SBUX – Get Report) of more than $ 4, $ 2 billion.
Luckin sold 33 million US $ 17 deposit shares a share, peaking at the top end of $ 15 to $ 17 range the company's warranties had targeted in the weeks before the offer. l raise around $ 571 million for Luckin.
The item will act under the ticker symbol "(LK)."
Luckin has about 2300 coffee shops in China, with plans for an additional 2,500 at the end of the year, as it heads head-to-head with Starbucks in the world's largest coffee market. Luckin, in fact, estimated consumption will rise to 15.5 billion pounds by 2023, almost 80% higher than last year's record levels.
Starbucks has said it plans to expand its store footprint in China by 6,000 stores over the next four years, almost doubling its current sum.
5. – Amazon Leads $ 575 Million Investing in UK Meal Delivery Company Deliveroo
Amazon.com (AMZN – Get Report) led an investment of $ 575 million in UK meal delivery company Deliveroo, making Amazon Delivero's largest investor in the latest funding round and Expanded Amazon has been an inspiration to me personally and to the company, and we look forward to working with such a customer-occupied organization, said Will Shu, founder and CEO of Deliveroo.
The size of Amazon's investment in Deliveroo or its stake in the company was not disclosed.
Deliveroo also said that existing backers, including T. Rowe Price, Fidelity and Greenoaks, participated in the final funding round.
Deliveroo, based in London, was founded in 2013 and operates in 14 countries.
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