U.S. stock futures traded mixed in early pre-market trade after the Dow Jones climbed more than 200 points in the previous session.
Futures for the Dow Jones Industrial Average gained 48 points to 33,989.00 while the Standard & Poor’s 500 index futures fell 0.75 points at 4,170.75. Futures for the Nasdaq 100 index fell 31 points to 13,896.00.
A third of S&P 500 companies are set to report quarterly results in the final week of April, including Apple, Microsoft, Amazon, Facebook and Google-parent Alphabet. Last week, the Dow Jones Industrial Average, S&P 500 and Nasdaq broke multiweek winning streaks with modest losses despite Friday's rally.
Take a look at some of the biggest movers in the premarket:
Albertsons(ACI) – The grocery store operator came in 9 cents a share ahead of consensus, with quarterly profit of 60 cents per share. Revenue also beat estimates. Albertsons predicted comparable sales for the current fiscal year falling between 6% and 7.5%. The stock was down 1.5% in premarket trading.
Otis Worldwide(OTIS) – The maker of elevators and escalators beat estimates by 9 cents a share, with quarterly earnings of 72 cents per share. Revenue came in above forecasts as well. Otis also raised its full-year forecast as organic sales continue to improve. Its stock jumped 5.2% in the premarket.
Johnson & Johnson(JNJ) – States began administering Johnson & Johnson's Covid-19 vaccine over the weekend after federal regulatorsrecommended that a pause be lifted. Separately, J&J is reviving plans to sell its Mentor Worldwide breast implant unit, according to a Bloomberg report. Those plans were put on hold last year due to the pandemic.
Apple(AAPL) – Appleannounced plans to invest $430 billionto expand its U.S. footprint and create 20,000 new jobs across the country over the next five years. It will invest in a variety of areas including semiconductors and 5G technology.
Check Point Software(CHKP) – Check Point reported quarterly earnings of $1.54 per share, 4 cents a share above estimates. Revenue topped Wall Street forecasts amid elevated demand for its cybersecurity solutions as many employees continued to work from home.
Flagstar Bancorp(FBC) –New York Community Bancorp(NYCB) will acquire its fellow regional bank in an all-stock deal valued at about $2.6 billion. Michigan-based Flagstar saw its stock surge 3.6% in the premarket.
Pearson(PSO) – Pearson reported better-than-expected profit for its latest quarter, with the online education company seeing improved sales of digital course materials and eBooks. The stock jumped 3.1% in premarket action.
Philips(PHG) – Philips lifted its full-year forecast after the Dutch health equipment maker reported better-than-expected profit and revenue for its latest quarter. Philips also said it expected growth in its Connected Care unit to slow this year, and put aside 250 million euros for possible risks related to its respiratory care devices. Its stock slid 3.7% in premarket trading.
Kansas City Southern(KSU) – Kansas City Southern said it would open talks withCanadian National Railway(CNI), even though the rail operator said it remained bound by the terms of a takeover agreementCanadian Pacific Railway(CP). The Canadian National deal is worth $325 per share in cash and stock, compared to $275 for the Canadian Pacific offer.
Sinclair Broadcast(SBGI) – Sinclair is evaluating proposals for reworking the debt of its regional sports network unit, according to a Bloomberg report. The TV station operator is also said to be in talks with two sports betting companies for marketing partnerships, similar to the deal it struck last year withBally’s(BALY).
Coinbase(COIN) – Coinbase shares jumped 4.3% in premarket trading, with the cryptocurrency exchange’s shares moving in conjunction with a rebound in the price of bitcoin this morning.
Etsy(ETSY) – The online crafts marketplace was downgraded to “sector weight” from “overweight” at KeyBanc Capital Markets, even though KeyBanc praises Etsy’s long-term growth prospects. It said, however, that there is a lower near-term likelihood of positive earnings revisions. Etsy fell 1.7% in the premarket.
Discover Financial(DFS) – The financial services company’s stock rose 1.6% in premarket action after Bank of America Securities upgraded it to “buy” from “neutral.” The firm points to strong fundamentals which it thinks are being obscured in part by potentially higher operating expenses and uncertain prospects for loan growth.
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