U.S. stock futures point to lower open, one day after a powerful rally on Wall Street.
Back-to-back gains for the Dow, the S & P 500 and the Nasdaq, which all rose Wednesday about 1.5%. Final look at third-quarter GDP revised higher to 3.2% from 2.9%. 2. Micron Technology is real bad because of Samsung.
Do not hold your breath. Micron cuts 10% of workforce ; suspend bonuses in 2023. Casualty of severe overbuild. Wider than expected loss and a revenue miss. MU down 3.5% in the premarket. Other chipmakers — including Nvidia , Advanced Micro Devices and Qualcomm — down in sympathy but not as much. 3. AMC Entertainment plunges 24% to roughly $4 per share in the premarket after a new $110 million capital raise announcement and a proposed reverse 1-to-10 stock split. 4. CarMax shares sink more than 13% in premarket trading after big quarterly miss. Used car sales down 20%. Company cites "rapidly changing market conditions," says it bought 238,000 vehicles from consumers and dealers, down 39.8%. Gross profit down 31.1%. 5. Piper Sandler raises price target on Dollar General to $288 per share from $273; makes DG a top pick for 2023. This is the ultimate stock in a retail trade-down environment. We're playing the trade down and inventory glut firesale with off-price retailer TJX Companies , behind T.J. Maxx, Marshalls and HomeGoods. 6. Needham lowers its full-year 2023 outlook on Club name Amazon . Investors want Amazon to "demonstrate upside pricing power in 2023, since cost-cutting has limits to driving valuation upside," analyst Laura Martin wrote. 7. Planet Fitness named a top pick for 2023 at Piper, which boosts price target to $93 per share from $79. In addition to PLNT and DG, Piper likes also Yeti , Driven Brands and Boot Barn heading into the new year. 8. Under Armour names Stephanie Linnartz as CEO; comes from Marriott . Interesting choice. Could help with technology and loyalty. Baird raises UAA price target to $10 per share from $9. 9. Truist raises price target on Vail Resorts to $292 per share from $270. Noticeable increase in visits, though still "not 100% back" to pre-Covid pandemic levels. 10. Bird flu raising cost of eggs. No end to this. The Wall Street Journal reports on the worst bird flu outbreak in U.S. history , which forced tens of millions of chickens and turkeys to be killed. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED. Back-to-back gains for the Dow, the S&P 500 and the Nasdaq, which all rose Wednesday about 1.5%. Final look at third-quarter GDP revised higher to 3.2% from 2.9%.
Please follow us on Google to support usUnited States Latest News, United States Headlines
Similar News: You can also read news stories similar to this one that we have collected from other news sources.
Jim Cramer says he likes these 3 financial stocks for 2023'If you think the Fed will stop bringing the pain at some point in 2023, then … these names could become tremendous performers,' Cramer said.
Read more »
Jim Cramer says Nike, FedEx quarters demonstrate a key lesson for investorsIt's a mistake for investors to place too much emphasis on Fed commentary and predictions on where the S&P 500 will go next, CNBC's Jim Cramer said.
Read more »
Live updates: North Texas under wind chill watch starting Thursday morningAn arctic front is expected to blow through Dallas-Fort Worth on Thursday, bringing frigid temperatures, sharp north winds and below-freezing wind chills.
Read more »
5 things to know before the stock market opens ThursdayHere are the most important news items that investors need to start their trading day.
Read more »