PowerShares Nasdaq 100 ETF (QQQ) dropped 17 cents to $132.30 in premarket as investors cautiously stepped into weekend’s drawdown and lower-volume daily trading on Friday.
BlackBerry Ltd (BBRY) jumped 9.6% to $7.62 in premarket after Canada-based smart devices maker expects positive free cash flow in fiscal 2018 along with profitability on adjusted basis.
HSBC Holdings Plc (HSBC) eased 11 cents to $40.75 in premarket after the banking services provider partnered with financial technology company Tradeshift Inc based in San Francisco, CA. The combined services will support clients digitally worldwide.
HSBC sold its Brazilian unit for $5.2 billion but decided to sustain its Turkish subsidiary as the latter is nearing profitability after closing more offices than 90 left after restructuring.
Boston Scientific Corp (BSX) fell six cents to $24.65 in premarket after the medical tools maker will acquire privately-held Swiss peer Symetis SA for $435 million in cash. The combined business will focus on minimally invasive heart devices.
ConocoPhillips (COP) surged 9.30% to $50.22 after the energy conglomerate is moving away from high regional production costs and low crude prices. The company is going to sell oil sands and western Canadian natural gas assets to Cenovus Energy Inc for $13.3 billion.
The SPDR S&P BANK ETF (KBE) added 1.81% to $42.28 in five days and broader Financial Select Sector SPDR ETF (XLF) recouped early-week losses with 0.45% gain to $23.65 over five days of strength in treasuries and financial regulatory expectations. However weighing on the sector is failure to repeal the previous cabinet’s healthcare and insurance “low” prices.
Technology Select Sector SPDR ETF (XLK) added 0.46% to $52.84 over a month, and SPDR S&P Biotech ETF (XBI) eased 2.50% to $68.72 after very positive 0.82% daily gain today.
In the past month Cancer Genetics Inc (CGIX) is up 62.5% to $3.90.
Foreigners may be selling Japanese stocks given the yen has risen almost 5% against the U.S. dollar in 2017.
Among year-to-date undervalued stocks are Ascena Retail Group Inc (ASNA), Denbury Resources Inc (DNR), Kroger Co (KR), Lithia Motors Inc (LAD), and United Continental Holdings Inc (UAL).
At a time of digital business transition private equity firm Warburg Pincus LLC is buying 35% ownership in banking software provider Avaloq Group AG, to value the technology business at more than CHF1 billion.
Apple Inc (AAPL) advanced 72 cents to $140.71 after the media and technology hub’s chief executive Tim Cook defended globalization during his speech in China.
Viacom Inc (VIAB) fell 2.9% to $43.40 in the past month and clients at the media and TV company were not signed in to the streaming video services by Hulu LLC.
A two-day international forum with governments, finance ministers and central bank governors from twenty major economies begins tomorrow in Germany. Discussions will center on currency policy, deregulation, and trade.
Public Service Enterprise Group Inc (PSEG) added 1.4% or 64 cents to $45.13 after the energy company via subsidiary PSEG Power LLC divested a 10% equity ownership in Pennsylvania pipeline project.