Stocks (^GSPC) are getting off to a solid start this morning with the Nasdaq (^IXIC) above the 5,000 level as investors gear up for a busy week of earnings with big financial firms such as JPMorgan Chase (JPM) and Well Fargo (WFC) reporting results tomorrow.
Yahoo Finance’s Aaron Task says the market could be in for a disappointment from the banks.
“With net interest margin compression because of low interest rates. The lack of volatility, especially in the bond market, you can see trading volumes or trading revenue down for this group. The housing market has picked up that could be a source of strength.” he says. “I think overall, hopes yet again might be too high for the financial sector.”
Related: Apple Watch numbers; Under Armour Masters win; Sears taps into real estate portfolio again
Here’s a look at some of the stocks the Yahoo Finance team will be tracking for you today.
Apple (AAPL) remains in focus this morning. Pre-orders for the tech giant’s new smartwatch have gotten off to a solid start despite mixed reviews. According to early estimates by research firm Slice Intelligence, nearly 1 million people ordered the Apple watch last Friday, the first day it went on sale in the U.S.
Qualcomm (QCOM) shares are soaring. The Wall Street Journal is reporting that activist investor Jana Partners is urging the chipmaker to break itself up to boost the company’s weak stock price. Jana is asking Qualcomm to consider spinning off its chip unit from its patent-licensing business, cut costs, accelerate stock buybacks and make changes to the executive-pay structure, according to the Journal.
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Sears (SHLD) is forming a joint venture with mall owner Simon Property (SPG) as it continues to look for ways to generate cash from its real estate portfolio. Under the agreement, Sears will transfer 10 properties valued at $ 228 million to a company that it will jointly own with Simon.
Under Armour (UA) scored big at this year’s Masters Tournament with its endorsement of Jordan Spieth. 21-year-old Spieth is the company’s first endorser to win a major golf tournament.
After Under Armour’s women’s marketing campaign last year, Nike (NKE) is joining the race. The sports retailer is reportedly investing in its largest ever advertising push towards women, with its “Better for It” campaign. Nike projects that its women’s line could add $ 2 billion in sales by 2017.
Retailers’ work practices under fire
Meanwhile, 13 major retailers are under fire from New York’s Attorney General due to their practice of “on-call” scheduling. Companies such as Target (TGT) and JC Penney (JCP) are being scrutinized for systems which require employees to show up with little notice.
Sprint to make house calls
Sprint is testing a home delivery service. The wireless provider (S) is planning to start hand delivering new cell phones, as part of a push to regain its slipping market share. Sprint representatives will drive to locations, such as your home or office, and swap out your old phone for a new one.
Related: Want a new phone? Sprint rings your bell!
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