Here are five things you must know for Friday, June 7:
1. -- Stock Futures Rise as Wall Street Eyes U.S.-Mexico Trade, Jobs Report
U.S. stock futures were higher on Friday, suggesting Wall Street would rise for a fourth straight session, as investors were optimistic a trade deal between the U.S. and Mexico was close and awaited the release of the U.S. jobs report for May.
Data from the Bureau of Labor Statistics later Friday is expected to show the U.S. economy added 185,000 new jobs last month, while average hourly wages rose 0.3%, a figure that could either complicate the Federal Reserve's ability to cut interest rates or cement markets expectations for at least two easing moves from the central bank between now and the end of the year.
Reports of a potential breakthrough in talks between U.S. and Mexican officials Thursday in Washington helped Wall Street edge higher in the final hours of trading, with Vice President Mike Pence calling the second day of meetings ""encouraging" and describing "some movement" on the part of the Mexican side.
It was unclear, however, whether Mexican pledges to curb migration flows were enough to persuade the Trump administration to postpone tariffs, Reuters noted.
Contracts tied to the Dow Jones Industrial Average rose 84 points, futures for the S&P 500 were up 9.80 points, and Nasdaq futures gained 32.50 points.
In addition to the jobs report, the economic calendar in the U.S. on Friday includes Wholesale Trade for April at 10 a.m. and Consumer Credit for April at 3 p.m.
2. -- Beyond Meat Soars After Issuing First Earnings Report
Beyond Meat (BYND) , the maker of meat alternatives, rose 23.1% in premarket trading Friday to $122.48 after it posted a first-quarter loss narrower than analysts' expectations and revenue that topped forecasts.
The adjusted loss in the quarter was 14 cents a share vs. expectations of a loss of 15 cents. Revenue rose 215% to $40.2 million and beat forecasts of $38.9 million. Beyond Meat reported revenue of $38.8 million from fresh foods and about $4.5 million from frozen foods.
Beyond Meat's earnings report was its first since it debuted as a public company in May.
The net loss in the quarter was $6.6 million, or 95 cents a share, vs. a year-earlier loss of $5.7 million, or 98 cents.
- Behind the Label: A Look at the History of Beyond Meat
- Beyond Meat Soars After Issuing First Earnings Report Since Public Debut
The plant-based meat maker said for the year it expects revenue to increase 140% to $210 million, with adjusted EBITDA at break-even. Analysts were expecting fiscal-year revenue of $204.9 million.
"We're being very conservative and viewing this as a floor," CEO Ethan Brown said in a conference call regarding Beyond Meat's full-year outlook.
3. -- Caesars Is Close to a Merger Deal With Eldorado - Report
Caesars Entertainment (CZR - Get Report) is close to combining with rival casino operator Eldorado Resorts (ERI - Get Report) , The Wall Street Journal reported, citing people familiar with the matter.
Caesars and Eldorado have been finalizing a cash-and-stock deal that could be announced later this month assuming the talks don't fall apart, one of the people told the Journal. Eldorado is the front-runner in the bidding for Caesars but others have been circling the operator or Caesars Palace and Harrah's, the Journal noted.
The Journal reported earlier this year that an Eldorado official had made a preliminary approach to Caesars, one of the world's largest gambling companies, about a deal but the talks didn't go anywhere at the time.
Caesars announced in mid-April that Anthony Rodio had been named CEO, replacing Mark Frissora, who was pushed to the exit door by billionaire activist investor Carl Icahn as part of an effort to turn the ailing company around and sell it. Icahn controls 18% of Caesars.
4. -- Zoom Video Jumps After Earnings and Guidance Top Forecasts
Zoom Video Communications (ZM) jumped in premarket trading after the online video conference company posted fiscal first-quarter earnings and sales that beat forecasts and issued strong guidance for its second quarter.
The stock rose 13.6% to $90.20 in premarket trading.
Zoom posted adjusted earnings of 3 cents a share vs. analysts' forecasts of 1 cent. Revenue rose 103% from a year earlier to $122 million and beat expectations of $111.7 million.
For the second quarter, Zoom said it expects revenue of $129 million to $130 million, higher than expectations of $122.1 million. The company forecast non-GAAP earnings of 1 cent to 2 cents a share.
Like Beyond Meat, Zoom's report was its first as a public company.
- Real Money: Zoom In on the Charts
- Bang! Zoom Video to the Moon on Excellent Earnings
- Zoom Beats Forecasts in First Post-IPO Earnings, Shares Surge on Solid Guidance
- Behind the Label: How Zoom Zoomed Up to Become a Billion Dollar Tech Company
"While we remain focused on strong growth, we are also pleased that our highly efficient business model and disciplined investment approach contributed to positive non-GAAP profitability and free cash flow," said Zoom CEO Eric Yuan.
5. -- Walmart to Begin Grocery Deliveries Inside Customers' Homes
Walmart, the world's No. 1 retailer and largest grocer, said Friday it will be offering the service this fall for more than 1 million customers in Pittsburgh, Kansas City, Missouri, and Vero Beach, Florida. The company added "more great cities" will be getting the service "soon."
With Walmart's new service, customers place a grocery delivery order online and then select InHome Delivery and a delivery day at checkout.
Walmart said an appropriate smart device enables its delivery person to gain one-time access during the time of delivery.
"Now, we can serve customers not in just the last mile, but in the last 15 feet," said Marc Lore, CEO of Walmart's U.S. e-commerce division, in a corporate blog post.