Here are five things you must know for Tuesday, Feb. 12:
1. — Stocks Rise as Tentative Deal Reached to Avoid Government Shutdown
U.S. stock futures were higher on Tuesday, Feb. 12, and global stocks extended gains after lawmakers in Washington reached a tentative deal that would avoid another government shutdown later this week.
Investors also cheered positive signals from trade talks between Washington and Beijing.
Republican Sen. Richard Shelby of Alabama said a tentative deal had been reached with Democratic lawmakers to fund the U.S. government through the current financial year, which ends in September. He noted, however, that the deal didn’t include the $5.7 billion for border wall funding demanded by Donald Trump.
Trump made a passing reference to the deal Monday night during a rally in El Paso, Texas, but appeared to shrug off the lack of funding for his signature 2016 campaign promise, telling the supportive crowd “we’ll build the wall anyway.”
He also said he didn’t want China to have a “hard time,” referring to ongoing trade talks between the U.S. and China. Treasury Secretary Steven Mnuchin and U.S. Trade Representative Robert Lighthizer are expected to arrive in Beijing Thursday for higher-level discussions as negotiators race to meet the March 2 deadline when tariffs on $200 billion worth of China-made goods could increase to 25% from 10%.
Contracts tied to the Dow Jones Industrial Average rose 161 points, futures for the S&P 500 gained 15.75 points, and Nasdaq futures were up 51.25 points. The Dow closed lower Monday for a fourth consecutive session.
The economic calendar in the U.S. Tuesday includes the Job Openings and Labor Turnover Survey for December at 10 a.m. ET
2. — Activision Blizzard and Under Armour Report Earnings
Earnings reports are expected Tuesday from Activision Blizzard Inc. ( ATVI) , Under Armour Inc. ( UAA) , Molson Coors Brewing Co. ( TAP) , Twilio Inc. ( TWLO) , Shopify Inc. ( SHOP) and Groupon Inc. ( GRPN) .
3. — Aurora Cannabis Sales Surge
Aurora Cannabis Inc. ( ACB) , the Canadian cannabis producer, posted a fiscal second-quarter loss of C$237.8 million on revenue of C$54.2 million, compared with year-earlier profit of C$7.7 million on revenue of C$11.7 million.
Two analysts surveyed by FactSet had expected the company to post revenue of C$51.8 million.
Shares of Aurora Cannabis fell 3.8% in premarket trading Tuesday.
The company attributed the revenue surge to its launch in the Canadian consumer market, where it reported sales of C$21.6 million, and international medical markets.
Aurora Cannabis said it sold 6,999 kg of cannabis in the quarter. The company said it accounted for 20% of consumer sales in Canada.
Aurora Cannabis projected it will reach sustained positive EBITDA beginning in its fiscal fourth quarter.
Aurora is one of three Canadian Cannabis companies reporting earnings this week. Tilray Inc. is scheduled to report fourth-quarter results on Tuesday, while Canopy Growth Corp. will issuethird-quarter results on Thursday.
4. — Nissan Cuts Outlook, Takes Charge Related to Ghosn
Nissan Motor Co. ( NSANY) lowered its full-year profit outlook, citing consistently challenging market conditions, and said it booked an $84 …read more
Source:: Daily times