Here are the main events that will take place on Friday It can affect trading.
Costco: Shares traded more than 3% lower in pre-market trading as operating expenses rose due to higher labor and shipping costs.
The major retailer outperformed Wall Street’s revenue and profit estimates.
Total fourth fiscal revenue rose 15% to $72.10 billion. Analysts averaged $72.04 billion. Comparative sales grew 13.7%, with e-commerce increasing 7.1%. US sales were 15.8%.
Net income for the three months ended August 28 was $1.87 billion, up from $1.67 billion.
Diluted earnings per share It was $4.20. The estimate was $4.17.
Freshbeat: Shares jumped 21% in late trading Thursday. The Wall Street Journal reports that activist investor Jana Partners has taken a stake in the company to boost stock prices and explore selling.
Familiar people say that Jana has acquired nearly 10% of the company specializing in high-quality refrigerated pet food.
The company’s market capitalization is around $2.1 billion, down from $8 billion at its peak.
apple music: The company will be the new sponsor of this season’s Super Bowl halftime show.
National Football League The new partnership was announced on Thursday.
The multi-year agreement will begin with Super Bowl LVII, which takes place on Sunday, February 12, 2023 in Glendale, Arizona.
According to Variety, Pepsi has been the show’s halftime sponsor for the past 10 years and announced in May that it would no longer be a sponsor.
S&P Global Reports: The Manufacturing and Services PMIs for September will be released on Friday morning.
Refinitiv’s ratings are 51.1 for the manufacturing component and 45.0 for services. As with the broader and more closely watched ISM PMIs, 50 is the dividing line between an expanding and contracting sector.
Oil drop week: Oil prices fell on Friday on recession fears and a rally in the US dollar, although losses were capped by supply concerns.
West Texas Intermediate (WTI) crude futures were trading around $83.00.
Brent crude futures were trading around $89.00 a barrel.
Over the course of the week, WTI and Brent crude contracts were down 2.3% and 1.5%, respectively.
Central banks around the world raised interest rates this week, raising the risks of an economic slowdown.
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