Skip to main content

Amazon, Twitter, TikTok, Warren Buffett - 5 Things You Must Know Monday

Stock futures are mostly higher after President Trump signs executive orders to extend unemployment benefits; Simon Property and Amazon have held talks for fulfillment centers in malls; Twitter expresses interest in TikTok's U.S. operations.

Here are five things you must know for Monday, Aug. 10:

1. -- Stock Futures Trade Mostly Higher

Stock futures were mostly higher Monday after President Donald Trump signed four executive orders to extend unemployment benefits for Americans who lost their jobs during the coronavirus pandemic.

Contracts linked to the Dow Jones Industrial Average rose 100 points, S&P 500 futures were up 2 points and Nasdaq futures rose 1 point.

The Dow rose 3.8% last week, while the S&P 500 and Nasdaq racked up gains of 2.5%.

Trump issued the executive orders - which include continued payments of up to $400 a week of supplemental federal unemployment benefits and a payroll tax deferral - as Democrats and Republicans in Congress failed to bridge significant gaps in their stimulus negotiations.

Treasury Secretary Steven Mnuchin said Sunday he would entertain any proposals offered by Democrats while House Speaker Nancy Pelosi said it was essential a deal be reached between Democrats and the White House.

"Right now, we need to come to agreement," Pelosi said.

The U.S. topped 5 million cases of coronavirus on Sunday. 

2. -- Barrick Gold, Canopy Growth and Marriott Report Earnings

Earnings reports are expected Monday from Barrick Gold  (GOLD) - Get Barrick Gold Corporation Report,  Canopy Growth  (CGC) - Get Canopy Growth Corporation Report, Marriott International  (MAR) - Get Marriott International, Inc. (MAR) Report and Workhorse Group  (WKHS) - Get Workhorse Group Inc. Report.

Reports will be released later in the week from Nio  (NIO) - Get NIO Inc. Sponsored ADR Class A Report, Lyft  (LYFT) - Get Lyft Inc Class A Report, Cisco Systems  (CSCO) - Get Cisco Systems, Inc. Report, Applied Materials  (AMAT) - Get Applied Materials, Inc. Report and DraftKings  (DKNG) - Get DraftKings Inc. (DKNG) Report.

The economic calendar Monday includes the Job Openings and Labor Turnover Survey for June at 10 a.m. ET.

Retail sales, jobless claims and data on consumer and producer prices will be issued throughout the week.

3. -- Simon Property and Amazon in Talks for Fulfillment Centers in Malls

U.S. mall operator Simon Property Group  (SPG) - Get Simon Property Group, Inc. Report has been in talks with  (AMZN) - Get, Inc. Report to turn some of its anchor department-store spaces into fulfillment centers for the online retailing giant, The Wall Street Journal reported, citing people familiar with the matter.

The discussions between the two companies have been under way for months and began before the coronavirus pandemic.

TheStreet Recommends

Simon Property and Amazon have explored converting stores formerly occupied by J.C. Penney and Sears into Amazon distribution centers, the people told the Journal.

Amazon also has been in talks with multiple mall landlords about putting its coming grocery-store chain in J.C. Penney locations, the Journal added, citing a person familiar with the matter. Whether those include malls operated by Simon Property couldn’t be determined.

Amazon is a holding in Jim Cramer's Action Alerts PLUS member club. Want to be alerted before Jim Cramer buys or sells AMZN? Learn more now.

4. -- Twitter Expresses Interest in TikTok's U.S. Operations

Twitter  (TWTR) - Get Twitter, Inc. Report has had preliminary talks about a potential combination with TikTok in the United States, The Wall Street Journal reported.

It was unclear, however, whether Twitter would pursue a deal, which would face challenges and likely need help from other investors given Twitter's size, the Journal noted.

Twitter shares rose 3.15% to $38.31 in premarket trading.

Microsoft  (MSFT) - Get Microsoft Corporation (MSFT) Report is the main suitor for TikTok, the social media platform owned by Beijing-based ByteDance. 

President Donald Trump last week issued executive orders that would ban TikTok and WeChat, a group chat app owned by China's Tencent, from operating in the U.S. in 45 days if they weren't sold by their Chinese-owned parent companies.

The Journal reported over the weekend that several investment and technology firms were exploring a potential deal for the U.S. operations of TikTok.

Microsoft is a holding in Jim Cramer's Action Alerts PLUS member club. Want to be alerted before Jim Cramer buys or sells the stock? Learn more now.

5. -- Warren Buffett's Berkshire Hathaway Posts Earnings Jump of 87%

Warren Buffett’s Berkshire Hathaway undefined reported second-quarter earnings of $26.3 billion, a jump of 87% from a year earlier and a swing from a loss of $50 billion, the company's biggest-ever loss, in the first quarter of 2020.

Berkshire Hathaway's operating earnings in the quarter declined 10% to $5.5 billion but came in higher than most analysts' estimates.

Berkshire Hathaway spent a record $5.1 billion on stock repurchases in the second quarter, and may have kept that higher pace going in July, according to Bloomberg. 

The company's cash on hand at the end of June was a record $146.6 billion.