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Here are the main events that will take place on Friday It can affect trading.
T-Mobile: Shares of the wireless company rose 1.8% in pre-market trading after the company Announced 14 billion dollars The share repurchase program that will run until September next year.
The stock has jumped 25.3% for the year so far, compared to a 9.7% drop in rivals AT&T and Verizon’s 20.5%.
The buyback announcement comes a day after T-Mobile announced it was selling its wireline business to Cogent Communications Holdings in order to focus more on 5G.
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The T-Mobile logo appears on a screen at the Nasdaq market site in New York. (AP Photo/Richard Drew/AP Newsroom)
Smith and Wesson: Shares fell 6% in premarket trading after the arms maker reported quarterly results that confirmed a drop in consumer demand after a rally two years ago.
The Springfield, Massachusetts company, said its profit fell from a year earlier in what it called a “challenging” July quarter.
In the July fiscal quarter, Smith & Wesson reported GAAP net income of $3.3 million, down from $76.9 million in the same period last year. Net sales fell 69% to $84.4 million.
document: Shares are up 17% in pre-market trading after earnings beat expectations.
The company posted a loss of $45.1 million in its fiscal second quarter.
DocuSign said it suffered a loss of 22 cents per share. Earnings, adjusted for one-time gains and costs, came to 44 cents per share.
The average estimate of six analysts surveyed by Zacks Investment Research was 42 cents per share.
The electronic signature technology provider reported revenue of $622.2 million in the period, also beating Street expectations. Five analysts surveyed by Zacks forecast $602.1 million.
The company expects full-year revenue in the range of $2.47 billion to $2.48 billion.
Hershey: candy maker It says it will spend $90 million to open two new production lines at a Mexican plant in the northern border state of Nuevo Leon.
An employee holding a Hershey’s chocolate bar. (Reuters/Fabrizio Bench/file photo/Reuters Photo)
According to Reuters, the factory expansion will increase production by 25%.
The state said the investment would also create 300 new jobs in addition to the 2,500 employees already at the plant, producing hundreds of products.
Biden’s supervisor extracts with ECHO groups to prevent huge oil drilling leases
Oil loss: Prices headed for the second consecutive week of losses. Both benchmarks are down about 4% for the week.
Storage tanks are seen at Marathon Petroleum Corporation’s Los Angeles refinery. (Reuters/Bing Guan/Reuters Photo)
The market actually reached its lowest level since January at one point.
West Texas Intermediate US Crude oil futures were trading around $83.00 a barrel, after rising 2% in the previous session.
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Brent crude futures slipped to around $89.00 a barrel, after rising 1.3% on Thursday.
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