During Market hours Yesterday — ( Tuesday – 20.07.2021):
- The Dow (Symbol: DIA) jumped 1.53%. The S&P 500 (Symbol: SPY) surged 1.43% and the Nasdaq (Symbol: QQQ) went up 1.16%.
- Simon Property Group (Symbol: SPG)— The mall operator rose 7.2% after Stifel upgraded the stock to buy from hold. The Wall Street firm said Simon Property Group’s recent underperformance is a good entry point into a stock that poised to rebound.
- Banks — Banks bounced Tuesday after taking a hit Monday as bond yields plummeted. JPMorgan (Symbol: JPM), Citigroup (Symbol: C) and Bank of America (Symbol: BAC) are all up as the U.S. 10-year Treasury rose above 1.2%.
- Virgin Galactic (Symbol: SPCE)— Shares of the space tourism company fell 1.1% after rival Blue Origin successfully completed its first manned flight with billionaire founder Jeff Bezos aboard. Virgin Galactic and its found Richard Branson completed its own inaugural flight earlier this month.
- PPG Industries (Symbol: PPG)– Shares fell 4.4% after the company reported worse-than-expected earnings results. The paint and coatings maker earned an adjusted $1.94 per share for its latest quarter, falling short of analysts’ $2.19 consensus estimate. PPG also warned that input and other costs would increase during the current quarter.
- Airlines — The sector was among the hardest hit during Monday’s selloff, losing about 4%, but are now climbing higher and recovering their losses. United (Symbol: UAL) and Delta Airlines (Symbol: DAL) rose about 6% in midday trading. American Airlines (Symbol: AAL) jumped 8.38%.
- Royal Caribbean Cruises (Symbol: RCL)— The cruise company’s stock rose 7.74%, regaining its losses from Monday. Shares of Carnival (Symbol: CCL) and Norwegian (Symbol: NCLH) are also trading higher by 7.45% and 8.28%, respectively.
- IBM (Symbol: IBM)– Shares of the enterprise technology and services provider advanced 1.5% after the company’s second quarter earnings beat top- and bottom-line estimates. IBM earned an adjusted $2.33 per share on $18.75 billion in revenue. Analysts had been expecting the company to earn $2.29 per share on $18.29 billion in revenue, according to estimates from Refinitiv. Revenue grew 3% year over year.
- Halliburton (Symbol: HAL)– The oilfield services company advanced 3.67% after reporting a profit for a second straight quarter amid a rebound in oil prices. The company earned 26 cents per share, which was ahead of the expected 23 cents. Revenue came up short, however, at $3.71 billion versus the expected $3.74 billion.
- Apple (Symbol: AAPL)— Shares of the tech giant rose 2.6%, helping to lift the broader markets. UBS hiked its price target for Apple ahead of next week’s earnings report, saying that strong iPhone and Mac sales should boost the stock.
- Citizens Financial (Symbol: CFG)— Shares rose 3.6% after reporting better-than-expected earnings. The company posted EPS of $1.46 per share, topping estimates by 35 cents, according to Refinitiv. Revenue, however, fell short of expectations.
- KeyCorp (Symbol: KEY)— Shares rose 3.3% after the company beat on the top and bottom lines of its quarterly results. KeyCorp reported earnings of 73 cents on revenue of $1.77 billion. Analysts expected earnings of 54 cents on revenue of $1.73 billion, according to Refinitiv.
- Philip Morris International (Symbol: PM)— The cigarette manufacturer dropped 3.06% after the company missed second-quarter revenue estimates. Philip Morris reported $7.59 billion in quarterly revenue versus Wall Street’s estimate of $7.69 billion, according to Refinitiv.
During Premarket hours today – (Wednesday – 21.07.2021):
- Johnson & Johnson (Symbol: JNJ)– J&J shares rose roughly 1% in the premarket after the company beat quarterly forecasts and raised its earnings outlook amid strong sales of drugs and medical devices. J&J reported adjusted quarterly earnings of $2.48 per share, beating the $2.27 consensus estimate, with revenue also topping Street forecasts.
- Verizon (Symbol: VZ)– Verizon added 1.3% in premarket trading, after beating estimates by 7 cents with adjusted quarterly profit of $1.37 per share. The company also reported better-than-expected revenue and subscriber growth, and raised its full-year outlook.
- Coca-Cola (Symbol: COKE)– The beverage giant’s shares rallied almost 2% in premarket action following an upbeat quarter. Coca-Cola came in 12 cents above estimates with adjusted quarterly earnings of 68 cents per share, with revenue beating forecasts as venues like stadiums and movie theaters reopened. Coca-Cola also raised its full-year forecast.
- Harley-Davidson (Symbol: HOG)– The motorcycle maker reported quarterly earnings of $1.33 per share, 16 cents above estimates, although revenue was short of analyst projections. Its bottom line benefited from sales of more high-margin products like touring and cruiser bikes. Harley shares jumped more than 2.5% in the premarket.
- Netflix (Symbol: NFLX)– Netflix reported quarterly earnings of $2.97 per share, missing the consensus estimate of $3.16, although revenue and membership growth did beat forecasts. Its subscriber growth forecast for the current quarter is below current analyst estimates.
- Chipotle Mexican Grill (Symbol: CMG)– Chipotle earned an adjusted $7.46 per share, beating consensus forecasts of a $6.52 per share profit. The restaurant chain’s revenue was slightly above Wall Street forecasts, and comparable sales also beat analyst projections as indoor dining continued to rebound. Chipotle shares surged roughly 4.5% in premarket trading.
- United Airlines (Symbol: UAL)– United stock rose nearly 1% in the premarket after the airline matched estimates with a quarterly loss of $3.91 per share. United’s revenue did beat forecasts, quadrupling compared with a year earlier. The airline said it expected current-quarter unit revenue to improve compared with the pre-pandemic third quarter of 2019.
- SAP (Symbol: SAP)– SAP raised its outlook for the second time this year, with the business software giant benefiting from its work helping customers transition IT operations to the cloud. Despite the raise, SAP shares fell almost 5% in the premarket.
- Qualtrics International –(Symbol: XM) Qualtrics shares surged 4.5% in the premarket after the SAP spinoff forecast better-than-expected 2021 sales and losses that were smaller than analysts were anticipating. The provider of customer rating systems said its offerings have become more popular as companies increase their online presence and use of apps to do business.
- Intuitive Surgical (Symbol: ISRG)– Intuitive Surgical reported adjusted quarterly profit of $3.92 per share, compared with a $3.07 consensus estimate. The surgical equipment maker also reported better-than-expected revenue, as sales and usage of its da Vinci surgical robotic systems increased amid a rebound in medical procedures post-pandemic. Intuitive Surgical gained 3% in premarket trading.
- Sleep Number (Symbol: SNBR)– Sleep Number fell 28 cents shy of estimates with quarterly earnings of 88 cents per share, with the mattress retailer’s revenue below estimates as well. Sleep Number said supply shortages continue to impact its sales, and its stock tumbled more than 12% in premarket action.
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