Here are the most important news, trends and analysis that investors need to start their trading day:
1. Dow futures pop on Walmart, Home Depot strength
Traders on the floor of the New York Stock Exchange.
Source: NYSE
2. Three big retailers beat Q1 earnings expectations
Shoppers are seen wearing masks while shopping at a Walmart store in Bradford, Pennsylvania, July 20, 2020.
Brendan McDermid | Reuters
A customer wearing a protective mask loads lumber onto a cart at a Home Depot store in Pleasanton, California, on Monday, Feb. 22, 2021.
David Paul Morris | Bloomberg | Getty Images
Home Depot beat first-quarter earnings and revenue expectations as consumers’ splurging on their homes lingered more than a year into the pandemic. Net sales rose nearly 33% to $37.5 billion. Per-share profit was $3.86. Home Depot has not released an outlook for fiscal 2021.
A man shops for clothes in Macy’s department store in Herald Square, New York.
Trevor Collens | AFP | Getty Images
Shares of Macy’s jumped roughly 6% in Tuesday’s premarket, shortly after the department store chain reported a surprise first-quarter profit, as stimulus checks and the vaccine rollout gave consumers more money and greater confidence to head back to the mall and refresh their wardrobes. Better-than-expected Q1 revenue soared 56% to $4.71 billion. Macy’s also hiked its financial outlook for the full year.
3. Amazon reportedly in talks to buy MGM Studios for up to $9 billion
Daniel Craig stars as James Bond in “No Time To Die.”
Source: MGM
Amazon, looking to beef up its video library, is in talks to buy the Metro-Goldwyn-Mayer Studios in a deal worth as much as $9 billion, according to multiple media reports. MGM’s movie and TV treasure trove includes the James Bond and Rocky franchises as well as “The Handmaid’s Tale” and “Fargo.” These talks, first reported by The Information, surfaced a day after AT&T agreed to break out its WarnerMedia movie and television unit in a merger with Discovery.
4. Warren Buffett’s Berkshire Hathaway builds new Aon stake, boosts Kroger
Warren Buffett at Berkshire Hathaway’s annual meeting in Los Angeles, California. May 1, 2021.
Gerard Miller | CNBC
5. Michael Burry of ‘The Big Short’ reveals a bet against Tesla
Michael Burry attends the “The Big Short” New York premiere at Ziegfeld Theater on November 23, 2015 in New York City.
Jim Spellman | WireImage | Getty Images
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