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The Markets
by Proactive
Proactive UK has moved.
Coverage of London’s small caps continues on proactiveinvestors.com
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The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
Go to Proactive UK
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The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
Go to Proactive UK

Pharma & Biotech

Stocks set to claw back the bulk of yesterday's losses

Facebook is set to lead stocks higher after it revealed it had passed the 1bn mark for daily active users.

Pre-market trading has a distinctly technology focus with investors mulling updates from social media giant Facebook and chip-maker Qualcomm.

Spread betting quotes suggest that the Dow Jones industrial average will recoup all but 10 of yesterday's 50 point fall at the start of trading.

The S&P 500 was seen rising to 2,107, clawing back five of the eight points given up yesterday.

Facebook’s (NASDAQ:FB) quarterly financial results statement met another significant yard-stick as the social network passed the one billion mark for daily active users (DAU).

Tallying DAUs at 1.01bn in the month of September it represents a 17% increase year-on-year, and perhaps telling of the trend towards smart phones and tablets the figure for mobile DAU’s amounted to 894mln.

The shares were up 3.3% at US$107.40 in screen-based trading ahead of the bell.

Investors were less keen on Qualcomm (NASDAQ:QCOM), which was 6.4% lower at US$56.40 after a weak outlook statement released last night that completely overshadowed better-than-expected third quarter numbers.

Away from the technology sector, Whole Foods Market (NASDAQ:WFM) is set to have a chunk taken out of its share price after last night's update revealed like-for-like sales were down 0.2% from a year earlier in the quarter ended 27 September.

Earnings of US$1.48 per share on revenue of US$15.39bn for the full year missed estimates of earnings of US$1.67 per share on US$15.42bn in revenue.

Across the pond, Anglo-Swedish drugs behemoth AstraZeneca (LON:AZN, NYSE:AZN) was trading some 3.4% higher after it upped profit guidance for the full year and said revenues, previously expected to be a bit lower than last year, would actually be more or less the same.

US companies reporting today: AES; Apache; Celgene; CenterPoint Energy; Consolidated Edison; Duke Energy; Endo International; EOG Resources; Hudson City Bancorp; Kraft Heinz; Mohawk Industries; Molson Coors Brewing; News; NVIDIA; PerkinElmer; Qorvo; Quanta Services; Ralph Lauren; Skyworks Solutions; Symantec; TECO Energy; Teradata; TripAdvisor; Walt Disney

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