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Home / Business / Tesla, Gap, AT & T are HBO, car sales, trade negotiations – 5 things to know

Tesla, Gap, AT & T are HBO, car sales, trade negotiations – 5 things to know



Here are five things you need to know for Friday 1. March:

1. – Stocks Boost Boost from US-China Trade Progress

U.S. Stock prices rose on Friday 1. March and Global Stocks are trading sharply higher, boosted by a move from one of the market's largest index providers to increase the weight of China stocks on the world's benchmarks and bullish comments on US and China trading talks from one of Donald Trump's top advisors.

MSCI, which gathers stock market standards for markets around the world, will quadruple the weight of listed stocks in China, bringing them to about 3.3% of emerging market key from around 0.7% between now and November . The vendor said the move could unlock fresh investor inflows of around $ 80 billion, as fund managers are moving to balance the portfolios around the new benchmarks.

Stocks were further boosted by comments from White House's financial adviser Larry Kudlow, who told CNBC on Thursday that there was "wonderful" progress in trade negotiations last week, partly because US trade representative Robert Lighthizer reads "the rebellion" to Chinese officials. .

"We are heading for a remarkable historic deal," mocked Kudlow. "The documents are very clear: I mean, even things like the currency agreement … no manipulation, they have to report some intervention in the market."

Contracts related to the Dow Jones Industrial Average increased 1

74 points, Futures for S & P 500 received 17.25 points, and Nasdaq futures were up 53.50 points.

The United States economic calendar on Friday includes personal income and expenses for December and January at 8:30 am ET, PMI Manufacturing Index for February at 9:45 am, ISM Manufacturing Index for February at 10 am, and consumer sentiment for February. At 10.00 am

Foot Locker (FL) posted stronger than expected fourth-quarter earnings and same-store sales and said it looks double-edged profit growth in the coming year. The shares increased 13.9% in the premark trade on Friday.

U.S. Car manufacturers like Ford (F) will release sales for February throughout the day.

Sales in the US are expected to decline by about 1% in February from the year before, partly due to bad weather, says industrial consultants JD Power and LMC Automotive. They see total sales in the US at about 1.29 million units in February.

2. Tesla (TSLA) launched its long delayed $ 35,000 model 3-electric car on Thursday, but the announcement was overshadowed by CEO Elon Musk, saying the company is unlikely to be profitable in the first quarter.

Musk told reporters at a conference call that spending related to the launch of model 3 sales in Europe and China, as well as one-time fees in the quarter, means "we do not expect to be profitable" in the first quarter, CNBC reported.

The Tesla shares were down 4.2% in the premark trade on Friday.

The electric vehicle company said in a blog post it would move its sales operations online in a bid to save costs. The move "allows us to lower all vehicle prices by about 6% on average, allowing us to achieve the price of $ 35,000 model 3 earlier than we expected," the company said.

Tesla said it would settle "many" of its stores over the next few months, "with a small number of high-traffic stores remaining as galleries, showrooms and Tesla Information Centers."

The Cheaper Version of Model 3, plagued by Musk in tweets earlier This week is aimed at increasing the company's market share to buyers who are fascinated by its technology, but deterring the high prices of their luxury models and higher model 3s. The cheaper model 3 comes with a reduced driving range of 220 kilometers (132 miles) and a slimmed-down interior.

Tesla is facing increased pressure to generate profits when a number of large convertible bond loans are due.

It started delivering top model 3s to Europe this month and has destroyed the ground at a factory in China.

3. Gap plans split into two companies, closing 230 stores

Gap Inc. (GPS) announced plans to close more than 200 stores and split into two listed companies – one for Old Navy and the other for Gap, Banana Republic and others marks.

"After a comprehensive review of Gap's board, it is clear that Old Navy's business model and customers have increasingly diverged from our specialty products, and each business now requires a different strategy to thrive," said Chairman Robert Fisher of a statement announcing the movement.

"We understand that we have determined that the pursuit of a separation is the most convincing way forward for our brands – creating two separate companies with different economic profiles, tailor-made operational priorities and unique capital allocation strategies, both well-positioned for reaching its strategic goals and creating significant value for our customers, employees, and shareholders, "Fisher said.

Gap plans to separate the two companies through a tax-free spinoff – a stand-alone Old Navy and a second company not yet The current Gap shareholders will get shares in each company when the split happens, likely by 2020.

The new company will have about $ 9 billion in annual sales, according to Gap.

Separately, Gap achieved fourth-quarter revenue of 72 cents per share, up from 52 cents a year earlier. Sales in the quarter were $ 4.6 billion, down from $ 4.8 billion the year before.

Analysts had requested revenue of 67 cents per share on sales of $ 4.7 billion.

4. – HBO's CEO is on his way down as AT & T Restructures

Richard Plepler, CEO and CEO of HBO, said he dropped into a staff note on Thursday, while Turner president David Levy, parent of cable channels CNN , TNT, TBS and Cartoon Network, also go down, perhaps as early as Friday, people who are familiar with The Wall Street Journal case.

Plepler is retirement, who has led HBO since 2013 and played a prominent role in the success of shows such as "Game of Thrones", coming as AT&T (T) overhauling the operations of Warner Bros., HBO and Turner. Under former owner Time Warner and its then CEO Jeff Bewkes, the units had operated very autonomously, enlightened records.

AT&T, meanwhile, is in advanced conversations with veteran television leader and producer Robert Greenblatt to take a leading role at WarnerMedia – which Time Warner was rebranded – which could include a listing of a new entity that would combine HBO and Turner entertainment networks and an upcoming streaming service, the Journal reported.

5. – VMware Increases by Revenue and Sales Limitations

VMware (VMW) increased 2.6% in premark trading Friday after corporate software vendor's fourth quarter revenue and revenue boosted Wall Street expectations.

The company reported adjusted earnings in the period of $ 1.98 a share, beating estimates of $ 1.88 billion. Revenue for the period was $ 2.58 billion, higher than analysts' expectations of $ 2.5 billion.

VMware shares have risen more than 25% so far.


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