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Earnings flood; eBay ditches PayPal; Facebook worries

1. Earnings flood: Investors will hear from a slew of corporate titans on Thursday.Alibaba, B...

Posted: Feb 1, 2018 12:02 PM
Updated: Feb 1, 2018 12:02 PM

1. Earnings flood: Investors will hear from a slew of corporate titans on Thursday.

Alibaba, Blackstone, Boston Scientific, ConocoPhillips, DowDuPont, Hershey Foods, MasterCard, Ralph Lauren, UPS and CNN parent company Time Warner will publish results before the bell.

Google parent company Alphabet, along with Amazon, Apple, GoPro, Mattel, and Visa will follow after the close.

In Europe, Royal Dutch Shell earnings were boosted by higher oil and gas prices. But the company also took a $2 billion charge related to new U.S. tax rules.

2. EBay ditches PayPal: EBay announced Wednesday that it's dropping PayPal as its main payment processor in favor of Dutch company Adyen.

Shares in eBay surged 8% in extended trading, while PayPal stock was down about 11%.

EBay acquired and owned PayPal for years but spun off the company in 2015. EBay said the move to Adyen would result in lower costs for sellers and more payment options for buyers.

EBay and PayPal both reported earnings on Wednesday.

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3. Stocks to watch -- Facebook, Pandora: Shares in Facebook were volatile after CEO Mark Zuckerberg told investors that content tweaks led to a 5% drop in the amount of time users spend on the social network. The stock initially fell as much as 5% in extended trading, but then rebounded.

Shares in music streaming company Pandora ticked higher after it announced job cuts and a restructuring.

4. Stock market overview: U.S. stock futures were up and European markets advanced in early trading.

Asian markets -- except those in China -- ended with gains.

Investors appear to have brushed off warnings from Alan Greenspan, who has warned about record asset prices in the U.S.

"There are two bubbles: We have a stock market bubble, and we have a bond market bubble," the former Federal Reserve chairman told Bloomberg TV on Wednesday.

Greenspan famously described the dotcom mania of the 1990s as "irrational exuberance."

That memorable phrase, from late 1996, ended up being right -- albeit several years early. The Nasdaq didn't peak until March 2000.

Download CNN MoneyStream for up-to-the-minute market data and news

5. Coming this week:

Thursday -- Apple, Alphabet, Amazon earnings
Friday -- U.S. monthly jobs report

Mississippi Coronavirus Cases

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Confirmed Cases: 36680

Reported Deaths: 1250
CountyConfirmedDeaths
Hinds304154
DeSoto200920
Madison150839
Jones123149
Harrison118316
Rankin113719
Neshoba104577
Forrest104343
Lauderdale97281
Scott83115
Jackson80419
Washington75313
Copiah67516
Leake63520
Lee63022
Grenada6259
Oktibbeha62328
Warren60021
Holmes59841
Lamar5847
Wayne56819
Yazoo5667
Lowndes54917
Leflore53956
Lincoln53835
Pike51120
Lafayette5094
Sunflower5058
Panola4616
Monroe46036
Simpson4533
Covington4505
Bolivar41618
Tate39513
Attala38624
Newton37710
Adams36720
Pontotoc3636
Marion34912
Claiborne31511
Pearl River30832
Chickasaw30219
Winston30211
Marshall2973
Jasper2826
Noxubee2799
Walthall2748
Clay26211
Smith25612
Union25612
Coahoma2356
Clarke22825
Lawrence2162
Yalobusha2089
Tallahatchie1974
Montgomery1863
Kemper18414
Carroll18311
Humphreys17410
Calhoun1705
Hancock15213
Itawamba1478
Tippah14711
Jefferson1373
Webster13511
Prentiss1274
Tunica1263
George1253
Jefferson Davis1254
Greene11610
Alcorn1112
Amite1113
Tishomingo1091
Quitman1011
Wilkinson1019
Perry914
Stone772
Choctaw764
Franklin572
Sharkey480
Benton470
Issaquena111
Unassigned00

Alabama Coronavirus Cases

Confirmed Cases: 56441

Reported Deaths: 1136
CountyConfirmedDeaths
Jefferson7012170
Mobile5061140
Montgomery4599112
Tuscaloosa274353
Madison25359
Marshall205012
Shelby176425
Lee164737
Morgan13975
Baldwin134111
Walker111332
Elmore107622
Etowah106914
Dallas10189
DeKalb10017
Franklin95016
Unassigned77728
Autauga71515
Russell7130
Chambers68530
Cullman6686
Limestone6653
Butler65529
Houston6417
Tallapoosa63069
Lauderdale6006
St. Clair5983
Calhoun5545
Colbert5286
Escambia5128
Lowndes49222
Pike4805
Jackson4422
Coffee4364
Covington43512
Talladega4177
Dale4061
Barbour4022
Bullock37810
Hale36323
Marengo36111
Chilton3452
Blount3311
Clarke3236
Wilcox3158
Marion30914
Winston3095
Sumter29713
Pickens2786
Randolph2759
Monroe2683
Perry2552
Conecuh2388
Bibb2271
Macon2229
Choctaw22012
Greene2009
Henry1573
Washington1529
Lawrence1460
Crenshaw1343
Cherokee1317
Geneva1010
Fayette901
Clay892
Lamar891
Coosa671
Cleburne481
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