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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

Minnesota Coronavirus Cases

Data is updated nightly.

Cases: 455783

Reported Deaths: 6166
CountyCasesDeaths
Hennepin945441502
Ramsey40698749
Dakota33623354
Anoka31398368
Washington20579237
Stearns18111190
St. Louis14006251
Scott1221199
Wright11811107
Olmsted1083075
Sherburne831270
Carver705639
Clay660684
Rice624774
Kandiyohi558772
Blue Earth549533
Crow Wing490678
Otter Tail464968
Chisago460438
Benton423788
Winona394948
Douglas379766
Nobles374847
Mower374429
Goodhue358163
Polk330760
McLeod328647
Beltrami316148
Morrison314645
Lyon306139
Becker289439
Itasca287843
Isanti286143
Carlton284443
Steele279510
Pine270515
Freeborn254723
Todd233730
Nicollet230538
Brown218634
Mille Lacs215745
Le Sueur214416
Cass210824
Meeker201533
Waseca193316
Wabasha17483
Martin172026
Roseau166517
Hubbard151138
Redwood141327
Houston140314
Dodge13974
Renville138540
Chippewa133232
Cottonwood129118
Fillmore12778
Wadena120818
Rock112012
Aitkin111533
Faribault110116
Sibley11017
Watonwan10698
Pennington101016
Kanabec99818
Pipestone97223
Yellow Medicine95016
Murray9137
Jackson87310
Swift84718
Pope7485
Stevens7078
Marshall70415
Clearwater68814
Lake66415
Lac qui Parle66116
Wilkin63510
Koochiching60810
Lincoln4912
Big Stone4703
Unassigned43968
Grant4388
Norman4268
Mahnomen4167
Kittson37420
Red Lake3204
Traverse2623
Lake of the Woods1981
Cook1160

Iowa Coronavirus Cases

Data is updated nightly.

Cases: 312194

Reported Deaths: 4433
CountyCasesDeaths
Polk46975465
Linn18114279
Scott15900172
Black Hawk14123243
Woodbury13145181
Johnson1231752
Dubuque11651159
Pottawattamie9182115
Dallas910872
Story883538
Cerro Gordo474372
Webster473377
Warren461539
Sioux460457
Clinton459168
Marshall432262
Buena Vista397230
Muscatine396578
Des Moines395543
Plymouth353670
Wapello351798
Jasper333359
Lee326932
Marion310853
Jones275250
Henry269131
Carroll258934
Bremer250448
Crawford235824
Washington224133
Boone223517
Benton213950
Mahaska198637
Jackson195332
Tama190959
Dickinson189229
Kossuth180944
Delaware176536
Clay173021
Wright167624
Fayette166324
Hamilton162530
Buchanan162324
Winneshiek161020
Harrison158762
Hardin157831
Cedar155819
Clayton153949
Butler152324
Page148115
Floyd141936
Cherokee140327
Mills138517
Lyon137933
Poweshiek135424
Hancock132424
Allamakee131530
Iowa128022
Madison124210
Calhoun12379
Grundy122828
Jefferson122425
Winnebago122329
Mitchell117137
Louisa116430
Cass115343
Chickasaw113812
Appanoose113040
Sac112815
Union111723
Emmet111332
Humboldt107819
Shelby106427
Guthrie104624
Franklin103618
Unassigned10210
Palo Alto92611
Montgomery89224
Keokuk86426
Howard85919
Monroe82620
Clarke8199
Pocahontas78711
Ida76430
Davis70421
Adair69720
Greene6977
Monona68418
Lucas66910
Osceola65011
Worth6224
Taylor6009
Fremont5276
Van Buren50515
Decatur4994
Ringgold45511
Audubon4258
Wayne42021
Adams3023
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Cold and dry through Friday
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