| What to watch today: Wall Street looks to close week with four-session winning streak | | |  | FRI, JUL 23, 2021 | | | | AS OF FRI, JUL 23, 2021 • 08:07 ET | | Dow Jones Fut | | 34,823.35 | | Current: | 34,899.00 | | Change: | 190.00 | | Impl. Open: | 187.65 | | | S&P 500 Fut | | 4,367.48 | | Current: | 4,379.50 | | Change: | 20.00 | | Impl. Open: | 20.02 | | | NASDAQ 100 Fut | | 14,940.17 | | Current: | 14,978.75 | | Change: | 50.25 | | Impl. Open: | 50.58 | | | Russell 2000 Mini | | 2,199.48 | | Current: | 2,213.90 | | Change: | 19.10 | | Impl. Open: | 17.42 | | | In the bond market, the 10-year Treasury yield, which moves inversely to price, ticked higher Friday, trading at about 1.3% after hitting a 5 -month low of nearly 1.13% earlier this week. July purchasing managers' manufacturing and services indexes are out at 9:45 a.m. ET. (CNBC) | Strength in tech stocks continued in Friday's premarket, with shares of Snap (SNAP) surging 16% after the social media company surprised analysts with a quarterly profit, earning an adjusted 10 cents per share. Revenue also beat. Snap late Thursday reported higher-than-expected daily user metrics as well as an upbeat revenue forecast. (CNBC)
Shares of Twitter (TWTR) rose 5% in premarket trading after the company late Thursday beat estimates by 13 cents with adjusted quarterly profit of 20 cents per share. Revenue topped forecasts as ad sales surged 87% from a year ago. Twitter also gave an upbeat current quarter revenue forecast. (CNBC)
Dow stock Intel (INTC) fell almost 2% in Friday's market, the morning after the company issued a forecast that disappointed some investors and said the global chip shortage could last well into 2023. Intel did exceeded estimates with quarterly earnings of $1.28 per share. Revenue also beat. (CNBC) | | | With the Tokyo Olympics set to officially begin Friday, after a one-year delay, the International Olympic Committee said organizers have done all they can do, based on expert Covid recommendations, to ensure a safe games. Reuters reported that 11 athletes have tested positive for the coronavirus since July 2, while Olympic-related infections, including officials and media, were over 100. (CNBC)
* At least 100 US athletes unvaccinated as Olympics begin (AP) | | | | The National Football League plans to operate as normal as possible for the upcoming 2021 season and told teams they would forfeit games and lose money if Covid outbreaks occur due to unvaccinated players. In a memo obtained by CNBC, the NFL informed team executives and head coaches that it doesn't plan to reschedule games due to outbreaks as it did during the 2020 season. | | | | Kaseya, the Florida company whose software was exploited in the devastating Fourth of July weekend ransomware attack, said it received from a "trusted third party" a universal key that will decrypt all of the more than 1,000 businesses and public organizations crippled in the breach. (AP) | | Boston Beer (SAM) shares slumped 20.3% after the Sam Adams brewer cut its financial outlook for 2021, citing weaker than expected sales of its hard seltzer brands. In its most-recent quarter, Boston Beer earned $4.75 per share, well below the $6.69 consensus estimate, with revenue short of forecasts as well. | | | | Kimberly-Clark (KMB) reported quarterly profit of $1.47 per share, falling short of the $1.71 consensus estimate, with revenue roughly in line with forecasts. Kimberly-Clark also cut its full-year earnings forecast, pointing to higher input costs and continued pandemic driven volatility. Shares fell 3.7% in the premarket. | | | | Skechers (SKX) surged past the 52 cent consensus estimate and reported quarterly earnings of 88 cents per share, with the footwear maker also posting better-than-expected revenue. Skechers said workers returning to offices boosted demand for its "comfort technology" offerings. Skechers rallied 7.1%. | | | | Schlumberger (SLB) rose 2% in the premarket after beating estimates on the top and bottom lines on a rebound in oilfield services activity. Schlumberger came in 4 cents above estimates with adjusted quarterly earnings of 30 cents per share. | | | | Veoneer soared 55% in the premarket after the Swedish auto parts maker agreed to be bought by Canadian rival Magna International (MGA) for about $3.8 billion in cash. The deal will help Magna in its efforts to enhance its driver assistance technology. Magna shares slipped 3.1%. | | | | Capital One Financial (COF) earned $7.62 per share for its latest quarter, well above the $4.64 consensus estimate, and the financial services company also saw revenue come in above analyst forecasts. Results were boosted by a benefit related to credit losses. Still, Capital One shares fell 1.4% in the premarket. | | | | VeriSign (VRSN) fell 2 cents short of consensus estimates with quarterly earnings of $1.31 per share, with the domain name registrar seeing revenue roughly in line with forecasts. Shares lost 0.6%. | | |
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