Indicators

Wake Up Call

Hello ! US stock futures gave turned lower Friday after the economy added 272,000 jobs in May, renewing concerns that the Fed will stick to its plan to keep interest-rates higher for longer. Treasury 10-year yields climbed 13 basis points to 4.4%. Fed swaps no longer price in a central bank cut before December.
DATAS :
* US Non-Farm Payrolls* (May) 272.0k vs. Exp. 185.0k (Prev. 175.0k, Rev. 165k)
* US Manufacturing Payrolls* (May) 8.0k vs. Exp. 5.0k (Prev. 8.0k, Rev. 6k)
* US Average Earnings MM* (May) 0.4% vs. Exp. 0.3% (Prev. 0.2%)
* US Unemployment Rate* (May) 4.0% vs. Exp. 3.9% (Prev. 3.9%)
* US Average Workweek Hrs* (May) 34.3hrs vs. Exp. 34.3hrs (Prev. 34.3hrs)
* US Private Payrolls* (May) 229.0k vs. Exp. 170.0k (Prev. 167.0k, Rev. 158k)
* Canadian Employment Change * (May) 26.7k vs. Exp. 22.5k (Prev. 90.4k)
* Canadian Unemployment Rate* (May) 6.2% vs. Exp. 6.2% (Prev. 6.1%)

BRAZE +14% boosted FY25 rev 4cst $577.0m to $581.0m (est $574.1m). Adj loss/shr 6.0c to 10c (est loss/shr 9.3c). 1Q rev $135.5m (estimate $131.9m).
DOCUSIGN -6% 1Q rev $709.6m (est 706.3m) ; adj EPS 82c (est 79c) & billings $709.5m (est $690.1m). Cut 2Q billings 4cst $715m to $725m (est $727.8m). Boosts buyback program by up to $1b.
GAMESTOP 3% after a YouTube post said that Keith Gill, whose Roaring Kitty online moniker has sent the video-game retailer shares surging in recent weeks, would return to the platform Friday for the first time in three years. Co. also reported positive results : 1Q net loss of $32.3m vs net loss of $50.5m y/y. Adj loss per share 12c (est loss/shr 9.0c). Net sales $882m (est $995.5m). Co. to sell up $75m shares of Class A common stock. >> AMC +4.5%, SPWR +0.87%, BB +2.1%, SPCE +2.6%, BYND+0.5%, HOOD +2.7%.
FUELCELL ENERGY faces delisting from the Nasdaq exchange after its stock closed below $1 for 30 consecutive business days.
GERON +16% after the biopharmaceutical company secured approval for its blood disorder drug named Rytelo from the FDA.
SAMSARA -6.70% despite 1Q rev $280.7m (est 272.5m). Sees 2Q total rev $288m to $290m (est 287.2m).
VAIL RESORTS -8.5% cut its FY EBITDA outlook $825m to $845.0m (est $859.8m). 3Q net rev $1.28b (est $1.29b) as Skier visitation from lift ticket guests was particularly impacted. EPS $9.54 (est $10.01).

APPLE will introduce a new homegrown app next week called Passwords, aiming to make it easier for customers to log in to websites and software. Co. is planning the new app as part of iOS 18, iPadOS 18 and macOS 15.
BANKS Moody’s Ratings said at least six US regional banks with a substantial exposure to commercial real estate loans are at risk of having their debt ratings downgraded.
BLACKSTONE is in talks with private credit lenders to raise as much as $2.8b in financing for its audio-visual and event-services company Encore Group USA LLC to address its upcoming maturities.
EMCOR announces increase in share repurchase program of $500m.
LOCKHEED MARTIN Germany may purchase 10 additional F-35 fighter from Co. on top of the 35 units, it ordered shortly after Russia’s full-scale military invasion of Ukraine.
POWERSCHOOL has agreed to be acquired by Bain Capital in a transaction valuing the company at $5.6b, Vista Equity Partners and Onex Partners will continue to have minority investments in Co. PowerSchool holders will get $22.80/shr in cash upon closing of deal.
PHILIP MORRIS qtr div $1.30 / shr, prior $1.30 regular cash.

UPGRADES

INITIATIONS

15:00 US Wholesale Trade Sales & Inventories MoM and YoY
17:00 Fed's Cook Gives Commencement Speech
20:00 US Consumer Credit

DIV EX DATE

Today : Arthur J Gallagher ($0.6); Bank of America ($0.24); Bath & Body Works ($0.2); BlackRock ($5.1); Booking ($8.75); Brown-Forman ($0.2178); CH Robinson Worldwide ($0.61); CME ($1.15); General Motors ($0.12); Genuine Parts ($1); Kimberly-Clark ($1.22); Molson Coors ($0.44); Northern Trust ($0.75); PepsiCo ($1.355); Public Service Enterprise ($0.6); Simon Property ($2); Tapestry ($0.35); Trane Technologies ($0.84); Waste Management ($0.75); Williams ($0.475)
Monday : Alphabet ($0.2); Assurant ($0.72); Becton Dickinson ($0.95); Elevance Health ($1.63); Fidelity National ($0.36); Occidental Petroleum ($0.22); Omnicom ($0.7); PPL ($0.2575); Travelers ($1.05)

EARNINGS