After the close…
FMCN is up +2.5% following it’s after the close earnings release.
Today, the recent M&A activity, rumored or actual, was seen as a bullish sign with stocks climbing almost 1% before the S&P 500 lost momentum upon hitting 1081, which marked the 50% retracement of its downturn from last week’s intraday high to last week’s intraday low. The final leg down made for the stock market’s lowest close in over one month.
Futures are lower after hours with S&P 500 futures -1.72 points from fair value of 1065.72 and Nasdaq 100 futures +1.92 points from fair value of 1805.58.
Six of the ten sectors were in negative territory, led by industrials (-1.1%), materials (-1.0%) and tech (-1.0%). Tomorrow morning there is one economic report scheduled to be released before the open: Existing Home Sales (Consensus 4.72 mln).
Also tomorrow before the open the following companies are expected to report earnings: BKC, BKS, BIG, MDT and TSL.