Yahoo Finance Stocks jump on merger deals, earnings
Stocks are pushing higher to start the week as earnings—and big deal making—light a fire under the markets. Plus, it’s tech’s big week with huge earnings reports on tap. Will the sector break out or break down? And, the deal’s official, so why are investors dumping Time Warner stock? We explain. Catch The Final Round at 4 p.m. ET with Jen Rogers and Yahoo Finance writer Myles Udland.
Winners and losers
Stocks in the red to start the week include Jack in the Box after the fast-food chain was initiated by Goldman Sachs with a ‘sell’ rating; Inovio Pharmaceuticals as the FDA placed a clinical hold on its cervical cancer vaccin; and Kimberly Clark, with shares of the Kleenex and Huggies maker slipping after the company’s forward guidance came in light and it cut its full-year sales forecast.
Stocks pushing higher today include BE Aerospace after it announced a $6.4 billion merger with Rockwell Collins; GPU chip maker Nvidia following a Barron’s piece over the weekend on the next chip revolution; and T-Mobile, with shares of the carrier on fire after announcing an earnings beat and that it added 2 million subscribers.
Looking ahead
At 9 a.m. ET, we’ll get the S&P CoreLogic Case-Shiller home price index for August. The consensus estimate is for a seasonally adjusted 0.2% gain, month over month.
An hour later, the Conference Board releases its consumer confidence index for October. The Street’s looking for a 101 reading, a drop from the prior month.
Finally, the moment the baseball world has been waiting for: The World Series begins tomorrow night with the Chicago Cubs taking on the Cleveland Indians from Progressive Field. The Cubbies are looking to snap a drought of 108 years without a World Series title, while the Indians have their own 52-year drought.
