| What to watch today: Stocks to bounce after Biden capital gains concerns slammed Wall Street | | |  | FRI, APR 23, 2021 | | | | AS OF FRI, APR 23, 2021 • 08:41 ET | | Dow Jones Fut | | 33,815.90 | | Current: | 33,677.00 | | Change: | -32.00 | | Impl. Open: | -26.90 | | | S&P 500 Fut | | 4,134.98 | | Current: | 4,132.25 | | Change: | 4.50 | | Impl. Open: | 5.27 | | | NASDAQ 100 Fut | | 13,762.36 | | Current: | 13,775.75 | | Change: | 25.50 | | Impl. Open: | 25.39 | | | Russell 2000 Mini | | 2,232.61 | | Current: | 2,240.70 | | Change: | 12.40 | | Impl. Open: | 13.09 | | Dow components American Express (AXP) and Honeywell (HON) delivered quarterly results Friday morning. Amex beat handily on profit but missed on revenue. Shares dropped nearly 4% in the premarket. Honeywell beat on both, though its stock was also lower. (CNBC)
Intel (INTC) late Thursday delivered essentially flat first-quarter sales and a drop in profit in the first earnings report under new CEO Pat Gelsinger. The Dow stock declined more than 2% in premarket trading, though Intel's per-share earnings and revenue did beat estimates. (CNBC) | | | | Bitcoin and other cryptocurrencies sank Friday as concern about Biden raising U.S. capital gains taxes on the rich led to a wave of selling. Bitcoin, which hit an all time high near $65,000 on April 14, sank 6.5% to under $50,000. That's a 23% plunge in a little more than a week. The crypto market value, half of which is bitcoin, dropped $200 billion in just a day. (CNBC) | | SpaceX launched four astronauts into orbit Friday morning from NASA's Kennedy Space Center in Florida, using a recycled rocket and capsule. It's the third crewed flight in less than a year for Elon Musk's privately held commercial space company. The astronauts from the United States, Japan and France should reach the International Space Station early Saturday. (AP & CNBC) | | | | The head of Facebook's (FB) app, Fidji Simo, told CNBC that the social media giant has been working on audio for years as it prepares to launch its Clubhouse rival. Earlier this week, Facebook CEO Mark Zuckerberg said his company is building a product where users can engage in real-time conversations with others, like they can on Clubhouse. | | | | Kimberly-Clark (KMB): The consumer products company's stock dropped 6.4% in premarket action after it reported weaker-than-expected profit and sales for its latest quarter and gave a full-year forecast that came in below Wall Street consensus. | | | | Boston Beer (SAM): The Sam Adams brewer surged 7.6% in premarket action after beating top and bottom line estimates by a wide margin for its latest quarter. Boston Beer's results were helped by a jump in sales for its Truly hard seltzer brand. | | | | Mattel (MAT): The toy maker's shares rallied 6.8% in premarket action after it reported record 47% sales growth for its latest quarter compared to a year ago. Mattel reported a much smaller-than-expected loss, but revenue beat forecasts on strong sales of toys like Barbie dolls and Hot Wheels cars. | | | | Schlumberger (SLB): The oilfield services company's shares rose 1.4% in the premarket after it reported better-than-expected profit and revenue on improved international drilling activity. That follows upbeat reports earlier this week from rivals Halliburton (HAL) and Baker Hughes (BKR). | | | | Snap (SNAP): The parent of Snapchat reported a breakeven quarter, compared to consensus forecasts for a 6 cents per share loss. Revenue also beat estimates, as did user growth for Snapchat, and the stock rallied 4.5% in the premarket. | | | | Seagate Technology (STX): The hard disk drive maker's shares slipped 2% in the premarket despite better-than-expected profit and revenue for its latest quarter. Seagate forecast slightly better-than-expected profit for the full year, with its revenue projection roughly in line with Wall Street forecasts. | | | | Skillz (SKLZ): The eSports platform surged 10.1% in premarket trading following news that Cathie Wood's ARK funds bought another 1.2 million shares following a 5 million share purchase on Wednesday. | | | | Skechers (SKX): The footwear maker beat estimates on the top and bottom lines for its latest quarter, boosted by strong overseas demand for its shoes. Skechers shares soared 10.4% in premarket action. | | | | World Wrestling Entertainment (WWE): The media and entertainment company's shares rose 2.9% in premarket action after it reported better-than-expected profit and revenue for the first quarter. Profit fell from a year ago, however, reflecting a decline in live events due to the pandemic. | | | | Skyworks Solutions (SWKS): The chipmaker is buying the infrastructure and automotive business of Silicon Labs (SLAB) for $2.75 billion in cash. Skyworks rose 4.1% in the premarket, while Silicon Labs rallied 12.3% after saying it would return $2 billion of the deal's proceeds to shareholders. | | Disney's (DIS) advertising sales group said it's sold out of ad inventory for Sunday's telecast of the Oscars on ABC. The show, which typically airs in February or early March, was pushed back by organizers because of pandemic restrictions and safety concerns. (CNBC) | | |
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