During Market hours Yesterday — (Wednesday – 21.07.2021):

  • The Dow (Symbol: DIA) jumped 0.84%. The S&P 500 (Symbol: SPY) surged 0.81% and the Nasdaq (Symbol: QQQ) went up 0.77%.
  • Chipotle Mexican Grill (Symbol: CMG)— Shares of the fast-food chain surged 11.5% after beating on the top and bottom lines of its quarterly results. Chipotle reported earnings of $7.46 on revenue of $1.89 billion. Analysts expected earnings of $6.52 on revenue of $1.88 billion, according to Refinitiv. Revenue surpassed pre-pandemic levels as dine-in customers returned to its restaurants.
  • Netflix (Symbol: NFLX)— The streaming platform’s share price slipped 3.28% after Netflix reported disappointing earnings and third-quarter subscriber guidance. Netflix earned $2.97 per share, below estimates of $3.16 per share, according to Refinitiv. The company said it expects 3.5 million net subscribers in the third quarter, nearly 2 million below analysts’ estimates.
  • Verizon Communications (Symbol: VZ)— Shares of Verizon gained 0.67% after the company reported better-than-expected second-quarter earnings. The telecommunications company earned an adjusted $1.37 per share on revenues of $33.76 billion in the second quarter. Analysts were expecting $1.30 adjusted earnings per share on revenues of $32.74 billion, according to Refinitiv.
  • Coca-Cola (Symbol: KO)— Shares of the beverage maker rose 1.3% after the company reported second-quarter earnings of 68 cents per share, beating forecasts by 12 cents per share, according to Refinitiv. Its revenue topped pre-pandemic levels, and Coca-Cola also raised its full-year forecast.
  • United Airlines (Symbol: UAL)— The airline stock climbed 3.8% after the carrier reported higher-than-expected second-quarter revenue, thanks to a resurgence in air travel. United’s revenue beat forecasts by quadrupling compared to a year earlier amid a surge in bookings. The airline expects the trend to continue despite the fast-spreading delta variant. United reported a loss of $3.91, in line with expectations per Refinitiv.
  • Harley-Davidson (Symbol: HOG)— Harley-Davidson shares sunk 7.2% after mixed second-quarter earnings results. The motorcycle maker’s quarterly earnings of $1.33 per share came in 16 cents above Wall Street estimates, according to Refinitiv. However, the company’s second-quarter revenue fell short of analysts’ projections.
  • Sunnova (Symbol: NOVA) and Sunrun (Symbol: RUN)— Shares of Sunnova and Sunrun added 3.9% and 4.9%, respectively, after JPMorgan named the two solar companies as top picks. “We highlight Overweight-rated Sunnova and Sunrun as top picks for 2H21 owing to elevated inventory levels, which should position both companies relatively better to meet expected demand near-term,” the bank said in a note.
  • Halliburton (Symbol: HAL)— The energy stock jumped 3.5% on Wednesday after Goldman Sachs upgraded Halliburton to buy from neutral. Goldman also said that it expected Halliburton to hike its dividend as early as next year.
  • RealReal (Symbol: REAL)— Shares of the online consignment retailer rose about 5% after Bank of America upgraded the stock to buy from neutral. The firm said in a note that RealReal was hit harder by the pandemic than other e-commerce stocks and could now be in line for an expansion in its valuation multiple.

During Premarket hours today – (Thursday – 22.07.2021):

Weekly jobless claims totaled 419,000 for the week ended July 17, above the 350,000 estimate

  • Netgear (Symbol: NTGR)– Netgear shares plummeted 14.2% after the computer equipment maker reported lower-than-expected sales and revenue for its latest quarter. The company also gave guidance that fell short of analyst forecasts. Netgear said supply chain constraints and factory closures due to Covid-19 held back its performance.
  • Unilever (Symbol: UL)– Unilever reported better-than-expected sales and earnings for the second quarter, but the consumer products giant also said that a significant increase in commodity costs would hurt its full-year profit margins. Its shares dropped 4.6%.
  • Dow Inc. (Symbol: DOW)– The materials science company’s shares rose 1.7% in the premarket, after Dow Inc beat earnings estimates by 27 cents with quarterly a profit of $2.72 per share.  Revenue beat forecasts as well, as sales benefited from higher prices and tight supplies. Dow also sees an upbeat second half as global economies improve.
  • AT&T (Symbol: T)– AT&T reported adjusted quarterly earnings of 89 cents per share, 10 cents above estimates, with revenue also above Wall Street projections. AT&T added a greater number of wireless subscribers than expected and also saw a jump in signups for its various HBO services, and its shares climbed 1.2% in premarket trading.
  • Southwest Airlines (Symbol: LUV)– Southwest shares fell 2.4% in the premarket, as its 35 cents per-share loss for the second quarter was wider than the 23 cent loss analysts were expecting. Southwest’s revenue beat estimates, however, and the airline said it expected to remain profitable for the remainder of the year.
  • Blackstone Group (Symbol: BX)– The private equity firm reported earnings per share of 82 cents for the second quarter, 4 cents above estimates. Blackstone benefited from a record surge in the value of its investments compared to a year ago. Shares of Blackstone climbed 1.6%.
  • Crocs (Symbol: CROX)– The footwear maker’s shares rallied 8% after the company posted adjusted quarterly earnings of $2.23 per share, compared to a consensus estimate of $1.60. Revenue also beat forecasts with Crocs saying it was seeing strong demand for the brand around the globe.
  • Biogen (Symbol: BIIB)– The drug maker earned an adjusted $5.68 per share for the second quarter, compared to a consensus estimate of $4.54, with revenue above estimates as well. Biogen also raised its 2021 revenue forecast, and its shares added 1.3% in the premarket.
  • Texas Instruments (Symbol: TXN)– Texas Instruments beat earnings estimates by 22 cents with a quarterly profit of $2.05 per share. Revenue also beat analyst forecasts. However, the chipmaker issued weaker-than-expected revenue guidance for the current quarter, raising concerns about low inventories and manufacturing capacity. The stock shed 4.6%.
  • Las Vegas Sands (Symbol: LVS)– Las Vegas Sands lost 26 cents per share, 10 cents more than Wall Street was anticipating for the casino operator, and revenue also fell short of estimates. However, the company said it remained confident about a rebound in travel and tourism. Las Vegas Sands fell 2.2%.

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