February 16, 2017

Investors pause; Wendy's earnings; Air France takes flight

1. Time to take a breather?: The Dow Jones industrial average, S&P 500 and Nasdaq have all closed at record highs for five consecutive days, something investors haven't seen since 1992.

But with U.S. stock futures looking a bit soft, the streak may have run its course.

European markets are mostly negative in early trading. Asian markets are closing the day with mixed results.

2. Merger moves: Shares in Anthem are set to drop at the open because of turmoil over its planned merger with Cigna.

The companies had been pursuing a $54 billion merger, but Cigna tried to terminate the deal earlier this week after it was opposed by the Justice Department and blocked by a federal judge

Anthem doesn't want to accept the breakup, and has sued to stop Cigna pulling out. A Delaware court has issued a temporary restraining order that prevents Cigna from withdrawing -- for now.

Meanwhile, Time Warner shareholders are still feeling the love after voting Wednesday in support of a proposed $85 billion acquisition by AT&T.

Time Warner is the parent company of CNN.

3. #ADayWithoutImmigrants: Restaurants and other businesses across the U.S. will be closing their doors Thursday in support of a "Day Without Immigrants," a national grassroots movement seeking to protest President Trump's immigration reforms.

The protests could hit the restaurant industry especially hard. Foreign-born workers provide the vast majority of labor in the sector.

4. Earnings: Shares in Air France-KLM are surging by 8% in Europe as investors cheer the company's annual 2016 results.

Charter Communications, Build-A-Bear Workshop, Hyatt Hotels, Cabela's and Wendy's are some of the top firms reporting earnings before the U.S. open.

Shares in TripAdvisor are expected to sink when trading begins. The firm reported quarterly results on Wednesday that came in well below analyst expectations.

5. Coming this week: Thursday - Wendy's earnings Friday - Campbell Soup and Deere earnings; Wells Fargo CEO expected to answer Senate's letter about its latest controversies

Comments

Type your comment here:

Free E-Newsletters

Sign up now for our daily and weekly
e-newsletters! Click Here

 
Today's Poll How does your company cope with winter storms?<>
ADVERTISEMENTS
Most Popular on Facebook
Copyright 2017 New England Business Media