| What to watch today: Wall Street to open flat, with earnings and Fed in focus | | |  | WED, JUL 28, 2021 | | | | AS OF WED, JUL 28, 2021 • 08:02 ET | | Dow Jones Fut | | 35,058.52 | | Current: | 34,942.00 | | Change: | -11.00 | | Impl. Open: | -2.52 | | | S&P 500 Fut | | 4,401.46 | | Current: | 4,396.25 | | Change: | 1.75 | | Impl. Open: | 2.79 | | | NASDAQ 100 Fut | | 14,956.97 | | Current: | 14,990.75 | | Change: | 43.00 | | Impl. Open: | 45.78 | | | Russell 2000 Mini | | 2,191.83 | | Current: | 2,202.10 | | Change: | 15.40 | | Impl. Open: | 13.27 | | Apple (AAPL) fell 1% in premarket trading after warning the negative impact of the global chip shortage would worsen this quarter. That caution came after Apple reported better-than-expected quarterly earnings of $1.30. Revenue surge past estimates as well, driven by a 50% pop in iPhone sales. (CNBC)
Microsoft (MSFT) beat estimates by 25 cents with quarterly earnings of $2.17 per share, while revenue beat estimates as well on continued strong growth in the company's cloud computing business. Microsoft continued to benefit from the pandemic shift to working and learning from home. Microsoft rose slightly in the premarket. (CNBC)
Alphabet (GOOGL) earned $27.26 per share for its latest quarter, well above estimates. Revenue for the Google parent also trounced forecasts, benefiting from the ongoing surge in online ad spending. Alphabet jumped nearly 4% in Wednesday's premarket. (CNBC) | | | | Boeing (BA) reported its first quarterly profit in almost two years Wednesday, boosted by a surge in deliveries of commercial jetliners as airlines began recovering from the pandemic. Earnings of 40 cents per share beat estimates for an 83 cent loss. Revenue of $17 billion also exceeded expectations. The stock jumped about 3.5% in the premarket. (CNBC) | | | | Labor unions representing 40,000 American Airlines (AAL) pilots and flight attendants say the carrier has failed to provide crews with enough transportation or adequate hotels during layovers, a trend that is depriving them of rest in some cases. A lack of hotel rooms and long wait times for customer service are issues that have also faced airline customers this summer. (CNBC) | | | | Starbucks (SBUX) earned an adjusted $1.01 per share for its latest quarter, beating the 78 cent consensus estimate, with revenue beating forecasts as well. The coffee chain did say higher costs for labor and supplies could remain for months to come and the stock fell 2.9% in the premarket. | | | | Visa (V) came in 14 cents ahead of consensus forecasts with an adjusted quarterly profit of $1.49 per share. The payment network's revenue topped estimates as well. Visa benefited from the rebound in spending on travel and entertainment, but the stock slid 1.3% in premarket trading. | | | | Teladoc Health (TDOC) lost 86 cents per share for its latest quarter, wider than the 56 cent loss that Wall Street had been expecting. Revenue did beat forecasts, but the stock is under pressure on weaker-than-expected membership growth for the telehealth service provider. The stock tumbled 9.6% in premarket trading. | | | | Spotify (SPOT) fell 3% in the premarket, despite reporting a smaller-than-expected loss for its latest quarter and better-than-expected revenue. The music-streaming service noted that its monthly active user numbers did fall below its prior guidance. | | | | Advanced Micro Devices (AMD) shares rose 2.3% in premarket action as the chipmaker forecast current-quarter revenue above analyst expectations. It predicts strong demand for chips used in gaming consoles and data centers, following a quarter that saw it beat Street estimates on the top and bottom lines. | | | | Shopify (SHOP) rose 2% in premarket trading, after reporting adjusted quarterly earnings of $2.24 per share compared to a 97 cent consensus estimate. The e-commerce platform provider continued to benefit from the boom in online shopping. | | | | Mattel (MAT) beat estimates for its latest quarter, and also raised its full-year forecast. The toymaker is expecting continued strong demand for its Barbie and Hot Wheels brands, even as it plans to raise prices. Shares surged 5.4% in the premarket. | | |
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