Here are five things you must know for Thursday, Feb. 8:
1. -- Stocks Are Shaky
U.S. stock futures turned higher on Thursday, Feb. 8, after spending much of the premarket session in negative territory, suggesting that investors weren't quite ready to return to equities following three days of intense volatility that has rocked global markets.
Contracts tied to the Dow Jones Industrial Average rose 48 points on Thursday, while those linked to the broader S&P 500 gained 5.25 points. Nasdaq futures were up 29 points.
As with previous sessions this week, the elevated levels of the Cboe's Volatility index, which closed at 27.19 on Wednesday, Feb. 7, could mean significant swings throughout the trading day.
The Dow fell 19 points, or 0.08%, on Wednesday, the S&P 500 declined 0.50% and the Nasdaq slumped 0.89%.
Treasury yields rose Wednesday on news that Senate leaders reached an agreement on a two-year budget deal that would prevent a government shutdown. But the spending package faces a bumpy road in the House.
Bond yields continued to rise on Thursday, with U.S. 10-year Treasury bonds at 2.864%.
2. -- Tesla Posts Largest Loss Ever
A couple weeks after Tesla responded to a CNBC report about ongoing Model 3 production challenges by reiterating its production targets for the relatively cheap sedan, the company did so again on Wednesday: It's still aiming for a 2,500-vehicle weekly production rate by the end of the first quarter, and a 5,000-vehicle rate by the end of the second quarter. Tesla had at one time wanted to get to 5,000 units per week by the end of the fourth quarter but gradually pushed back its goal in response to battery module production issues.
Tesla said net reservations for the Model 3, which saw only 1,542 deliveries in the fourth quarter, "remained stable" as reports of delays mounted, and have grown in recent weeks as the car began appearing in select Tesla showrooms and garnered positive reviews. But no number was provided.
Tesla shares fell 0.6% in premarket trading on Thursday.
3. -- Amazon to Launch Whole Foods Deliveries
Stephenie Landry, the Amazon vice president who oversees Prime Now, said the online retailing giant plans to expand the effort, but declined to say how quickly, The Wall Street Journal reported. She noted that Prime Now grew to more than 50 global markets in less than three years following its creation.
Amazon acquired Whole Foods last year for $13.7 billion.
4. -- Cable TV Revenue at Fox Jumps 10%
Twenty-First Century Fox Inc. (FOXA) said adjusted profit of 42 cents a share in its fiscal second quarter topped analysts' forecasts, and revenue rose to $8.04 billion from $7.68 billion a year earlier. Revenue at Fox's cable TV division rose 10%.
Fox reached a deal in December to sell significant assets to Walt Disney Co. (DIS) , including the historic 20th Century Fox movie studio. It is keeping broadcast, sports and news assets, including the Fox TV network and Fox News.
Fox's cable TV segment reported higher advertising, syndication fees and affiliate fees from cable and satellite providers, which boosted revenue to $4.4 billion.
The stock rose 0.4% in premarket trading on Thursday.
5. -- Jeff Immelt Named Chairman of Athenahealth
As chairman, Immelt may have to tangle with hedge fund Elliott Management, which acquired a 9% stake in Athenahealth and which has begun pushing for changes, saying the company's stock was undervalued.
Athenahealth shares rose 2.2% in premarket trading.
This article has been updated with earnings from Twitter, CVS Health, Viacom, T-Mobile US and Yum! Brands.
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