Hot Stock Minute

  • Stocks began the government shutdown with a rise. Markets moved higher, perhaps a reflection that the effects of the stalemate were already priced into equities. Already 800,000 government workers have been furloughed because of the shutdown. Meanwhile, consulting firm IHS estimates the shutdown will cost more than $300 million a day in lost economic output. It also says a weeklong shutdown could shed 0.2% off the quarterly reading on GDP.

    The shutdown is already having an effect on scheduled government data reports. A release on construction spending for August was canceled this morning. In addition, the Labor Department says it won't be issuing the monthly jobs report on Friday if the shutdown persists.

    POLL: Who is more likely to emerge as the perceived winner of the government shutdown?

    Walgreen (WAG) rose 4% on its quarterly earnings which were released ahead of the opening bell. The drug store giant says it made adjusted earnings of 73-cents a share, beating estimates by a penny.

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  • Who is more likely to emerge as the perceived winner of the government shutdown? President Obama and Senate Democrats or House Republicans? Vote below in the daily Hot Stock Minute poll. But first watch show host Lauren Lyster discuss the start of the shutdown with Yahoo Finance Columnist Rick Newman.

  • Walgreen (WAG) is out this morning with its quarterly earnings. The drug store giant reported adjusted earnings of 73-cents a share, beating estimates by a penny. Revenues, however, missed ever so slightly at $17.94-billion versus $17.95-billion. Profits were actually close to double from a year ago. Walgreens says that's because of strength in selling higher-profit generic drugs. Walgreen stock is up more than 41% year-to-date and hit a new 52-week high last Monday.

    Diamond Foods (DMND) has been down nearly 8% in early trading. This is after reporting earnings yesterday afternoon. The company beat on the bottom line with adjusted earnings of 9-cents a share when estimates were for a loss of 3-cents. However revenues were down significantly, falling below the $200-million mark. Diamond had an accounting scandal several years back and has been trying to rebound since. Shares initially rose after the report but then moved lower on a weak outlook. Even with the losses the stock is up

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  • Futures are up on the government shutdown. As odd as it may seem, premarket action is pointing green. Here at the Nasdaq, the composite index has been up about a-quarter percent. Of course yesterday was not so pleasant with the Dow suffering a triple digit drop ahead of the shutdown. As for that shutdown here's the latest: about 800,000 government workers will be furloughed today. More will be asked to work without pay. Many government activities like IRS audits and surveillance for flu outbreaks will be suspended. But essential functions like law enforcement and air-traffic control will continue. For more on the shutdown and thoughts on how the market might react watch the video above featuring show host Lauren Lyster and Yahoo Finance Columnist Rick Newman.

    Warren Buffett is set to make a major Goldman Sachs (GS) grab today. Buffett's Berkshire Hathaway (BRK-A) is expected to exchange warrants that will make him the company's sixth largest shareholder. He acquired the warrants five

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About 'Hot Stock Minute'

Live from the NASDAQ MarketSite in Times Square, our video series "Hot Stock Minute" prepares you for the trading day with a look at what’s moving ahead of the opening bell. Looking to buy? Thinking of selling? Want to be sure you're happy with your holdings? Join Lauren Lyster as she sorts through the top business headlines and explains their impact on the markets. "Hot Stock Minute" begins at 8:30 a.m. ET weekdays.
 
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