Foot Locker, Deere Split On Earnings
(Friday Market Open) Equity index futures headed lower before the open as investors consider this week’s competing Fed messages about how high September’s rate hike could go. It’s also a big options expiration day, so be prepared for possible turbulence before the close. Potential Market Movers The last big earnings stories of the week featured one big hit and a miss. Foot Locker (FL) rocketed 23.67% before the bell on an earnings beat and news that former Ulta Beauty (ULTA) CEO Mary Dillon will become FL’s new CEO on September 1. Deere (DE) was off 3.56% premarket after cutting its full-year forecast; the company reported below-estimate earnings for the quarter on above-consensus revenues. Shares of fashion retailer Buckle (BKE) were up 4.59% premarket in anticipation of its earnings announcement later in the day. As summer winds down, there’s still a month to go until the next Federal Open Market Committee (FOMC) meeting and rate decision, with plenty of conjecture to come until it’s clear how big the almost-certain rate hike will be.
Foot Locker, Deere Split On Earnings
(Friday Market Open) Equity index futures headed lower before the open as investors consider this week’s competing Fed messages about how high September’s rate hike could go. It’s also a big options expiration day, so be prepared for possible turbulence before the close. Potential Market Movers The last big earnings stories of the week featured one big hit and a miss. Foot Locker (FL) rocketed 23.67% before the bell on an earnings beat and news that former Ulta Beauty (ULTA) CEO Mary Dillon will become FL’s new CEO on September 1. Deere (DE) was off 3.56% premarket after cutting its full-year forecast; the company reported below-estimate earnings for the quarter on above-consensus revenues. Shares of fashion retailer Buckle (BKE) were up 4.59% premarket in anticipation of its earnings announcement later in the day. As summer winds down, there’s still a month to go until the next Federal Open Market Committee (FOMC) meeting and rate decision, with plenty of conjecture to come until it’s clear how big the almost-certain rate hike will be.