World news – US – What to watch today: Wall Street is under pressure after the Dow index closed

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Dow Jones futures indicated a drop of more than 150 points at Tuesday’s opening after two stocks in the index, Home Depot (HD) and Walmart (WMT), reported strong earnings but saw mixed moves in stocks. The Dow Jones jumped 470 points on positive Covid-19 vaccine data from Moderna, to close on Monday at a record high and less than 50 points from reaching 30.. 000 for the first time ever. . (CNBC) * Warren Buffett’s Berkshire is placing new bets on pharmaceutical stocks, selling some from Apple and JPMorgan (CNBC Pro). * David Tepper cut his key tech holdings and big bets on PG&E (CNBC Pro)

Tesla (TSLA) was on track to be the biggest gainer today, with shares up more than 12% after Monday’s announcement that the electric vehicle maker will be added to the S&P 500 before trading on Monday, December.. 21. (CNBC)

Home Depot shares plunged 2% in the primary market despite the company Tuesday’s announcement of above-estimated third-quarter earnings and revenues as consumers continued to focus on home improvement during the coronavirus pandemic.. Sales are up 24%. Brian Nagel, Oppenheimer’s chief analyst, on CNBC attributed the stock movement to concerns that Home Depot’s gains during the Covid-19 crisis may not be sustainable.. (CNBC)

Shares of Walmart rose nearly 1% in the primary market after the retail giant on Tuesday reported better-than-expected earnings and revenues in the third quarter, with the announcement of U. s. Ecommerce sales up 79%. 5% total revenue growth. Walmart has been one of the beneficiaries of the stay-at-home trend during the pandemic, as people stock up on groceries and cleaning supplies and buy things to pass the time, from puzzles to bicycles.. (CNBC) * Kohl sales drop ???? 13% as shoppers diverted spending away from clothing (CNBC)

President-elect Joe Biden said « more people could die » from Covid-19 if the Trump administration failed to start coordinating how to vaccinate more than 300 million Americans. While President Donald Trump questions the election result, the White House has halted the transition process, including work to combat the third rise in the coronavirus pandemic. (CNBC) * Trump’s Covid vaccination official says he hopes work will not be disrupted due to Biden’s (CNBC) move to Pennsylvania once again Intensifying measures to mitigate Covid-19, hoping to slow the re-emergence of records for trending cases To the busy travel season, Thanksgiving. Average seven days for a new day U. s. Injuries surpassed 150,000 for the first time, with 29 states reporting their worst cases. As of Monday, 73,014 people have been hospitalized with Covid-19. Pfizer (PFE) has launched a pilot delivery program for a Covid-19 vaccine candidate in four states, as it seeks to address distribution issues. Pfizer vaccine should be stored at minus 94 degrees Fahrenheit, which is much colder than most vaccines. (CNBC)

The hearing on the Trump campaign’s federal lawsuit seeking to prevent Pennsylvania officials from certifying the vote results remains on track on Tuesday after a judge quickly rejected the campaign’s new attorney’s request for a delay. (The Associated Press) * It is said that Trump will order a reduction in forces in Afghanistan and Iraq (AP) * The Trump administration asks oil companies to designate drilling packages in the Alaska shelter (Reuters)

Amazon (AMZN) announced Tuesday that it is entering the pharmacy business with a new offering called Amazon Pharmacy. It allows customers in the US to order prescription medications for home delivery, including free delivery for Amazon Prime members. The company has been quietly building its pharmacy business for several years after intense internal discussions in 2017 and the acquisition of PillPack in 2018.. (CNBC)

The chief executives of Facebook and Twitter are due to testify at a Senate Judiciary Committee hearing on Tuesday.. Mark Zuckerberg from Facebook and Jack Dorsey from Twitter, appearing via video, will be questioned about actions on their social networks around the presidential election.. Facebook and Twitter both put misinformation labels on some baseless Trump posts. (AP)

Airbnb has released a prospectus for its first public market launch. The company generated a net income of $ 219 million from revenues of $ 1. 34 billion last quarter. This was nearly 19% less than $ 1. $ 65 billion in revenue a year ago. Although the net losses turned in the first place, Airbnb had other quarters of profitability. (CNBC) * Airbnb says rival Google travel sites have pushed their listings down in search results (CNBC) * Airbnb has received an extension of its cloud contract this year as the pandemic breaks out (CNBC)

Costco (COST) announced a special dividend of US $ 10, payable to registered shareholders with effect from the end of business in December.. 2. It is the fourth time in eight years that a warehouse retailer has paid a private profit.

Baidu (BIDU) reported better-than-expected quarterly earnings and revenues as ad spend on Baidu’s internet search platform rebounded from the recession caused by the Covid-19 shutdowns. The China-based company said it will buy YY Live from social media company JOYY for about $ 3.. 6 billion.

NXP Semiconductor (NXPI) entered into a strategic partnership with Amazon’s Cloud Computing Unit, designed to help cars connect with data centers. NXP is one of the largest suppliers of chips to automakers.

GameStop (GME) is being paid to conduct a strategic review by  Chewy (CHWY) co-founder Ryan Cohen, who owns nearly 10% of the video game retail company. Cohen sent a letter to GameStop’s board of directors saying the company’s business model is outdated and he wants it to reduce the number of traditional stores.. .

Cinemark (CNK) has signed a deal with Universal Pictures Comcast’s Unit (CMCSA), allowing films to be distributed digitally once they are shown in theaters for three weekends. Universal struck a similar deal with the movie theater chain AMC Entertainment (AMC) earlier this year.

SmileDirectClub (SDC) lost 11 cents a share in the most recent quarter, which is less than 14 cents per share, which Wall Street had expected. The Sunni refinery maker’s revenue also exceeded expectations. The company said it is witnessing a wider acceptance of telehealth services in general and tele-dental services in particular.

Mondelez (MDLZ) and private equity firm JAB will sell a total of 60 million shares of Keurig Dr Pepper (KDP), in a move that reduces Mondelez’s stake in the beverage company to 8. 4%.

About 17 months after Scooter Braun’s Ithaca Holdings acquired the Big Machine Label Group and all of its recorded musical assets, Sources told Variety that the manager and veteran businessman sold the main rights to Taylor Swift’s first six albums. « This was the second time my music had been sold without my knowledge, » Swift said.. (Variety & USA Today)

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Stocks, The Home Depot, Earnings, Walmart, S&P 500

World News – US – What to watch today: Wall Street under pressure after closing of the Dow benchmark

Ref: https://www.cnbc.com

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