Good morning traders and investors of the r/stocks sub! Welcome to Thursday! Here are your pre-market stock movers & news on this Thursday, July the 21st, 2022-
S&P 500 futures slip after index hits 6-week high, Tesla shares to boost Nasdaq
S&P 500 futures dipped Thursday after a batch of mixed corporate earnings from companies. Tesla shares boosted Nasdaq 100 futures.
Futures tied to the Dow Jones Industrial Average shed 117 points, or 0.37%. S&P 500 futures ticked down 0.23%, while Nasdaq 100 futures gained 0.01%.
The moves come as Wall Street is enjoying a July rebound. All three major averages hit their highest levels in more than a month during Wednesday’s session, with the S&P 500 reaching its best closing level since June 9.
Tesla shares were choppy after the automaker reported stronger-than-expected earnings but shrinking automotive gross margins. As of 7:54 a.m. ET, the stock was up 2.6%.
American Airlines beat revenue expectations in the second quarter, and forecasted a profit in the third quarter, as consumers continue to travel even with higher prices. Shares fell more than 2% in premarket trading.
United Airlines reported that it returned to profitability during the second quarter, but results came in below expectations. The stock fell more than 6% in premarket trading.
Meanwhile, shares of Alcoa and CSX jumped in the premarket after the companies beat expectations.
Roughly 13% of S&P 500 have reported earnings for the second quarter. Of those companies, about two-thirds have beaten expectations, according to FactSet.
The Nasdaq Composite jumped nearly 1.6% on Wednesday, its fourth positive session in five. The tech-heavy index is up about 3.9% for the week.
Meanwhile, the Dow and S&P 500 each rose for the third day in four. The blue-chip index is up nearly 1.9% for the week, while the S&P 500 has gained 2.5% thus far.
“The bulls seem to be coming back into the market now. We’ve seen pretty sharp rallies in tech, c/rypto and other risk assets over the past few days,” said Callie Cox, U.S. investment analyst at eToro. “Which is notable to us, because in an economy with some pretty notable weakness in it, you’d expect to be seeing other parts of the market performing well. But the animal spirits are back, at least for now.”
In other corporate news, shares of Carnival dropped more than 10% after the cruise company announced that it was selling an additional $1 billion of stock.
On the data front, investors will also be watching initial jobless claims data, which has been trending upward in recent weeks.
STOCK FUTURES CURRENTLY:
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YESTERDAY'S MARKET MAP:
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TODAY'S MARKET MAP:
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YESTERDAY'S S&P SECTORS:
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TODAY'S S&P SECTORS:
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TODAY'S ECONOMIC CALENDAR:
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THIS WEEK'S ECONOMIC CALENDAR:
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THIS WEEK'S UPCOMING IPO'S:
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THIS WEEK'S EARNINGS CALENDAR:
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THIS MORNING'S PRE-MARKET EARNINGS CALENDAR:
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EARNINGS RELEASES BEFORE THE OPEN TODAY:
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EARNINGS RELEASES AFTER THE CLOSE TODAY:
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YESTERDAY'S ANALYST UPGRADES/DOWNGRADES:
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YESTERDAY'S INSIDER TRADING FILINGS:
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TODAY'S DIVIDEND CALENDAR:
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THIS MORNING'S STOCK NEWS MOVERS:
(source: cnbc.com)
AT&T (T) – AT&T fell 1.8% in the premarket, despite beating estimates on both the top and bottom lines for the second quarter, as it lowered its full-year free cash flow guidance. AT&T also reported a jump in quarterly wireless subscriber additions and raised its full-year forecast for wireless revenue growth.
STOCK SYMBOL: T
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DR Horton (DHI) – The home builder reported better-than-expected earnings for its latest quarter, but revenue fell short of analyst forecasts. The company cut its full-year sales guidance on moderating demand. Shares fell 1.4% in premarket trading.
STOCK SYMBOL: DHI
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Travelers (TRV) – Travelers rallied 4.3% in premarket action after reporting better-than-expected profit and revenue for the second quarter. The upbeat performance came despite higher catastrophe losses and a drop in investment income.
STOCK SYMBOL: TRV
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American Airlines (AAL) – American fell 1.4% in the premarket after quarterly earnings matched estimates and revenue was essentially in line with forecasts. The profit was the airline’s first since the start of the pandemic and the carrier expects the current quarter to be profitable as well.
STOCK SYMBOL: AAL
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Danaher (DHR) – The medical and industrial products and services company’s second-quarter profit and revenue were better than expected, with higher sales helping offset an increase in expenses. Danaher jumped 3.5% in premarket trading.
STOCK SYMBOL: DHR
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Tesla (TSLA) – Tesla gained 2.7% in premarket trading after reporting better-than-expected earnings for the second quarter. Tesla’s revenue came in below forecasts and it saw shrinking profit margins as it dealt with higher costs and supply chain disruptions.
STOCK SYMBOL: TSLA
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Carnival (CCL) – Carnival took a 12.1% hit in the premarket after announcing a $1 billion common stock offering. The cruise line operator plans to use the proceeds for general corporate purposes.
STOCK SYMBOL: CCL
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United Airlines (UAL) – United Airlines missed top and bottom line estimates for the second quarter and the carrier warned of the impact of higher jet fuel prices and a possible economic slowdown. United slid 6.8% in premarket action.
STOCK SYMBOL: UAL
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Alcoa (AA) – Alcoa rallied 3.9% in premarket trading after posting a better-than-expected second-quarter profit as sales rose faster than costs. Alcoa also announced a $500 million share repurchase program.
STOCK SYMBOL: AA
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CSX (CSX) – CSX rose 3% in premarket trading after beating top and bottom line estimates for the second quarter. The rail operator is seeing skyrocketing demand but it is having difficulties hiring because of a tight labor market.
STOCK SYMBOL: CSX
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FULL DISCLOSURE:
/u/bigbear0083 has no positions in any stocks mentioned. Reddit, moderators, and the author do not advise making investment decisions based on discussion in these posts. Analysis is not subject to validation and users take action at their own risk.
DISCUSS!
What's on everyone's radar for today's trading day ahead here at r/stocks?
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