Wednesday was a mixed day for U.S. stocks as the dollar rose in value. The S&P 500 posted a very slight loss, the Dow Jones Industrial Average lost less than 0.1% and the Nasdaq Composite actually managed a 0.2% gain.
As we head into Thursday’s trading day, a number of stocks are worth a watch. That list includes Hewlett Packard Enterprise Co (NYSE:HPE), Juno Therapeutics Inc (NASDAQ:JUNO) and Tractor Supply Company (NASDAQ:TSCO).
Here’s what you should be looking at this morning:
Hewlett Packard Enterprise Co (HPE)
Hewlett Packard Enterprise shares slipped after the bell following the company’s spinoff announcement. On Wednesday afternoon, the technology solutions company — itself a spinoff of HP Inc (NYSE:HPQ) — announced that it will be splitting into two companies. HPE will be dedicated to streamlining core operations. Non-core software operations will be spun off and merged with Micro Focus, a British company.
The deal is worth a reported $8.8 billion. $2.5 billion will be shelled out to HPE in cash, and shareholders will own 50.1% of Micro Focus stock — an estimated $6.3 billion.
Hewlett Packard Enterprise also released its fiscal third-quarter results, with earnings amounting to 49 cents per share on an adjusted basis — 4 cents higher than the year-ago period. Quarterly revenue amounted to $12.21 billion, lower than the $13.06 billion from last year’s third quarter.
HPE was on pace to open Thursday’s trading down 2%.
Tractor Supply Company is in for a rough Thursday after it lowered its third-quarter and full-year outlooks.
For the current quarter, the rural lifestyle equipment manufacturer predicts earnings in the range of 65 cents to 67 cents per share. Revenue is slated to come in at around $1.54 billion or $1.55 billion. Both figures would be below the consensus estimates of 72 cents a share and $1.61 billion in sales.
For the fiscal year 2016, Tractor Supply will earn $3.22 to $3.26 per share, which misses its previous projection of $3.35 to $3.40 per share. Net sales are slated to be in the range of $6.7 billion to $6.75 billion, weaker than the $6.8 billion to $6.9 billion previously reported by the company.
The company blamed weak consumer spending across the rural communities it serves.
TSCO shares are off more than 13% this morning.
Juno Therapeutics Inc (JUNO)
Lastly, JUNO stock is getting a boost after the biopharma company shared some good news with cancer patients.
A study published by Juno concerning immunotherapy treatment for cancer illnesses in the blood revealed that one of its drugs has more upside and less downside than current treatment options.
The research shows JCAR014 could work better toward eliminating cancer while producing fewer side effects. The medication specifically aims at bulking up immune cells in a manner that gives them the capacity to destroy cancer cells.
The Juno Therapeutics treatment works in conjunction with lymphodepletion, which gears up the body better for tolerating these altered cells.
More than 50% of patients in the study are in complete remission following the treatment, which also requires two other drugs.
JUNO stock is popping more than 5% in Thursday premarket action.
