Futures for the S&P 500 and the Dow suggest the indexes could extend their rebounds following a volatile stretch of trading sparked by worries about the spread of coronavirus. Here’s what we’re watching ahead of the opening bell. Read our full markets wrap here.
- Coca-Cola KO 1.31% rose 2.5% in premarket trading after it updated its full-year guidance and reported a jump in second-quarter earnings per share.
- Johnson & Johnson JNJ 0.07% edged up 0.6% after it beat analysts’ estimates on quarterly sales and profit from rising sales of medical devices, drugs and consumer-health products.
- Chipotle Mexican Grill CMG 11.15% climbed 4.7% after reporting sales that blew past pre-pandemic levels. The food chain invested in delivery and online ordering prior to the virus and generated nearly half of its second-quarter sales from digital transactions.
Chipotle’s sales have risen above pre-pandemic levels.
Photo: David Paul Morris/Bloomberg News
- Bitcoin rose 5.6% compared to its level on Tuesday at 5 p.m. ET, trading around $31,500. It slipped below $30,000 on Tuesday for the first time in about a month.
- Harley-Davidson HOG -7.72% climbed 1% after reporting a jump in revenues driven by higher sales of motorcycles in North America.
- Oilfield services company Baker Hughes BKR 0.15% rose 4% after it beat analysts’ estimates on revenue and posted a slimmer net loss than in the same period last year.
- United Airlines UAL 3.93% added 1.9% after the company said it expects to return to profit in the third quarter on a pretax basis and that business and international travel is recovering faster than expected.
- Netflix NFLX -3.85% edged down 1% premarket after it said it added 1.5 million memberships in the second quarter, reflecting slower growth in new subscribers following a surge last year at the height of the pandemic.
- Sports betting company DraftKings DKNG 5.83% rose 3%. It said that it plans to launch an exchange for sports-related NFTs or non-fungible tokens.
- U.S.-traded shares of ASML Holding, ASML 4.03% a Dutch supplier to the semiconductor industry, rose 3.1% premarket after it reported a rise in second-quarter profit, a new share buyback program and higher full-year sales guidance.
- Robot-assisted surgical equipment maker Intuitive Surgical advanced 3% after posting a jump in profit in the second quarter from a rise in demand for its products amid an increase in the number of surgeries following delays due to the pandemic.
- Cruise lines climbed, extending Tuesday’s gains into a second day. Carnival CCL 8.88% is up 3.5% ahead of the bell and Royal Caribbean Group RCL 4.11% rose 1.9%.
- Appliance maker Whirlpool, WHR 1.00% casino operator Las Vegas Sands LVS 2.74% and credit reporting agency Equifax EFX -0.82% are scheduled to post earnings after markets close.
Chart of the Day
- Netflix remains mired in somewhat of a post-pandemic slump. It added 1.5 million net new paying subscribers in the second quarter, which was a bit better than it had forecast but still its lowest level of growth in nearly a decade.
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