This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

March 20 Premarket Briefing: 10 Things You Should Know

Stocks in this article: LENWMTBACJPMMSNKEEBAYCAG

Updated from 6:57 a.m. EDT

Here are 10 things you should know for Thursday, March 20:    

1.-- U.S. stock futures were falling Thursday after Federal Reserve Chairwoman Janet Yellen hinted that U.S. interest rates could rise sooner than financial markets were expecting.

European stocks declined while Asian shares finished Thursday's session with losses. Japan's Nikkei 225 fell 1.7%.

2.-- The economic calendar in the U.S. on Thursday includes weekly initial jobless claims at 8:30 a.m. EDT, existing home sales for February at 10 a.m., the Philadelphia Fed Index for March at 10 a.m., and leading indicators for February at 10 a.m.

3.-- U.S. stocks on Wednesday closed lower but bounced off session lows Wednesday after Yellen explained the central bank's revised forward guidance, including a plan to drop the unemployment threshold.

The Dow Jones Industrial Average lost 0.7% to finish at 16,222.17, the S&P 500 fell 0.61% to 1,860.77 and the Nasdaq dropped 0.59% to 4,307.6.

4.-- The Fed on Thursday will publish the results of its annual health check of big banks, including Citigroup  (C)JPMorgan  (JPM) and Morgan Stanley  (MS).

If the Fed finds that any of the 30 banks subject to the so-called stress tests are still at risk, the banks will then have a few days to change any plans they may have made to return capital to shareholders through dividends or buybacks, according to Reuters.

5. -- Homebuilder Lennar (LEN) posted first-quarter earnings on Thursday that beat expectations.

Profit in the fiscal first quarter rose to $78.1 million, or 35 cents a share, from $57.5 million, or 26 cents a share, a year earlier. Revenue rose 38% to $1.4 billion.

The company said home deliveries in the quarter were 3,609, up 13% from a year earlier. 

Lennar shares rose 2.6% in premarket trading on Thursday to $42.40.

6. -- Sports equipment and apparel maker Nike (NKE) is expected by analysts on Thursday to report profit of 72 cents a share in its fiscal third quarter on revenue of $6.68 billion.

7. -- Activist investor Carl Icahn on Wednesday proposed that eBay (EBAY) spin off 20% of PayPal in an initial public offering.

Icahn has badgered the company since the beginning of 2014 to separate PayPal in a complete spinoff.

eBay repeated on Wednesday that PayPal should remain part of it. PayPal's revenue is growing faster than the sales of the rest of the company.

eBay shares fell 0.3% in premarket trading.

8. -- Walmart  (WMT) is making an aggressive push for outdoor and garden business this spring for the first time, featuring "Black Friday-like prices" on more than 60 items, The New York Times noted, including a Kingsford Charcoal Grill for $88, bags of mulch for $1.97 each and a seven-piece patio furniture set for $298, a discount of $100.

The stock rose 2.1% in premarket trading to $75.95.

9. -- Wall Street expects ConAgra Foods (CAG) to report third-quarter earnings of 60 cents a share on revenue of $4.4 billion.

10.-- Boeing's (BA) design and manufacture of the 787 jetliner is safe despite the many problems encountered since the plane's rollout, including a fire that forced a redesign of the its batteries, according to a report issued jointly Wednesday by the Federal Aviation Administration and the aircraft maker.

Boeing shares fell 0.2%.

-- Written by Joseph Woelfel

To contact the writer of this article, click here:Joseph Woelfel

To submit a news tip, send an email to:tips@thestreet.com.

Follow @josephwoe58

 

Copyright 2014 TheStreet.com Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. AP contributed to this report.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,805.41 +127.51 0.76%
S&P 500 1,964.58 +13.76 0.71%
NASDAQ 4,483.7150 +30.9230 0.69%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs