• Stimulus talks deadlocked
• US Initial Jobless Claims data better than expected
• Roku (ROKU.US) added 3.2 million active accounts in Q2
US indices launched today's session lower as US lawmakers struggle to reach a deal on the coronavirus relief package. White House negotiators signaled that President Donald Trump is prepared to act unilaterally through executive orders if a deal is not reached with lawmakers by the end of this week. Meantime, the US weekly jobless report showed a decline in initial claims to 1.186 million from 1.434 million in the previous period. Analysts had expected 1.408 million claims.
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S&P500 (US500) is testing previously broken upward trendline. A break higher may pave the way for a bigger upward impulse toward the resistance at 3338.6 pts. On the other hand, should the index break below the support at 3284 pts, sellers may target next support at 3187.8 pts. Source: xStation5
Hilton Worldwide (HLT.US) reported quarterly loss of 61 cents per share well above market expectations of 31 cents a share loss. Revenue also came in below estimates. The hotel operator business took a hit due to the pandemic-induced drop in travel demand.
Bausch Health (BHC.US) is planning to transform its Bausch & Lomb eye care unit into a separate publicly traded company in order to unlock unrecognized value in the eye care business.
Bristol-Myers (BMY.US), Pfizer (PFE.US) both companies won a key patent case involving the blood thinner Eliquis. Judge ruled out that drug companies Sigmapharm, Sunshine Lake Pharma, and Unichem had infringed the product’s patents. Separately, Bristol-Myers posted better than expected quarterly results and raised its full-year guidance. Company expects higher demand for its drugs in hospitals as delayed medical procedures are carried out.
Costco's (COST.US) comparable sales in July jumped 13.2% well above market expectations. The warehouse retailer also reported 75% increase in digital sales.
Etsy (ETSY.US) reported better than expected quarterly results. Company earned 75 cents per share, well above the 39 cents a share analysts' expectations. The online marketplace’s revenue also came beat market forecasts. Company reported nearly 19 million new and reactivated buyers.
Roku (ROKU.US) reported better than expected second-quarter financial results. Company lost 35 cents per share on revenues of $356 million, while Wall Street expected loss of 50 cents per share on revenues of $315 million. Company added 3.2 million incremental active accounts in the second quarter, reaching 43 million.
Roku (ROKU.US) – launched today's session with a bearish price gap and is testing the local support level at $159.20. Should downbeat moods prevail, support at $138.63 may come into play. However, should bulls regain control, resistance at $169.47 per share could be at risk. Source: xStation5
