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Toplines Before US Market Open on Tuesday

Tiger Newspress2021-04-20

Stock futures fell Tuesday morning, with the three major indexes looking for dip for a second straight session.

Contracts on the Dow shed more than 150 points, or 0.5%, with about two hours until the opening bell. The S&P 500 also looked to open further below its recent all-time high. Cyclical travel and leisure stocks including airlines and cruise lines slid, while Big Tech stocks were little changed as the benchmark 10-year Treasury yield edged lower.

At 8:05 a.m. ET, Dow E-minis were down 123 points, or 0.36%, S&P 500 E-minis were down 15.25 points, or 0.37% and Nasdaq 100 E-minis were down 37.25 points, or 0.27%.

*Source From Tiger Trade, EST 08:05

Stocks making the biggest moves in the premarket:

Kansas City Southern(KSU) – Shares of the rail operator surged 18.9% in premarket trading, afterCanadian National Railway(CNI)offered $325 per share in cash and stockfor the company, topping a prior $275 per share offer fromCanadian Pacific(CP). The Canadian National offer also includes $200 per share in cash, compared to $90 for the Canadian Pacific offer. Canadian National tumbled 6.3%, while Canadian Pacific jumped 4%.

AutoNation(AN) – The auto retailer earned an adjusted $2.79 per share for its latest quarter, well above the consensus estimate of $1.87, while revenue topped estimates as well. Same-store sales were up 27% from a year earlier. The stock jumped 2.5% in premarket action.

IBM(IBM) – IBMreported quarterly earnings of $1.77 per share, beating consensus estimates by 14 cents a share. Revenue beat forecasts as well. Its quarterly sales growth was its best in more than two years, helped by a strong performance from its cloud-computing unit. The stock gained 3.4% in the premarket.

Procter & Gamble(PG) – The consumer products company beat estimates by 7 cents a share, with quarterly profit of $1.26 per share. Revenue topped estimates as well. Among the positive factors for P&G: continued strength in demand for cleaning products. P&G also announced it would increase prices by mid-to-high-single-digit percentages for a variety of products in September.

Travelers(TRV) – Strong underwriting results and improved investment returns helped Travelers beat estimates by 36 cents a share, with quarterly earnings of $2.73 per share. The company exceeded analysts' expectations despite winter storms that more than doubled casualty losses compared to a year ago. Travelers also raised its dividend and added $5 billion to its share buyback program. The stock rose 1.7% in premarket trading.

Lockheed Martin(LMT) – The defense contractor quarterly results topped Wall Street estimates, and the company boosted its full-year forecast for a variety of financial metrics including sales and cash from operations. Revenue came in very slightly below analysts' forecasts, however.

Johnson & Johnson(JNJ) – Johnson & Johnson reported quarterly earnings of $2.59 per share, compared to a consensus estimate of $2.34 a share. Revenue also beat forecasts, helped by a rebound in medical devices as well as strong pharmaceutical sales.

United Airlines(UAL) – Unitedlost $7.50 per sharefor the first quarter, larger than the loss of $7.08 that analysts were anticipating. The airline's revenue came in slightly below estimates for the quarter, amid higher fuel costs and still-dampened demand due to the Covid-19 pandemic. United said it anticipates a return to profitability later this year. Shares fell 3.3% in premarket action.

British American Tobacco(BTI),Altria(MO) – These and other tobacco stocks remain under pressure this morning, following a Wall Street Journal report that the White House may order tobacco companiesto cut nicotine levels in all cigarettes. British American Tobacco lost 3% in the premarket, while Altria fell 2.3%.

Tesla(TSLA) – Tesla CEO Elon Musk said that company checks indicatedthat the "Autopilot" feature was not engagedduring a fatal crash in Texas over the weekend that killed two people. Police are still investigating, but say no one was behind the wheel when the car crashed into a tree. Tesla fell 1% in the premarket.

Zions Bancorp(ZION) – Zions reported quarterly earnings of $1.90 per share, compared to consensus estimates of $1.16 a share. Revenue also came in above estimates. The bank cited an improving credit environment and what it called a "substantial reversal" of loan loss provisions that it had instituted in the heart of the pandemic.

Apple(AAPL) – Apple is set to hold a virtual event today at which it is expected to unveil new iPads, iMacs as well as "AirTags" which allow users to track devices they want to avoid misplacing.

Xerox(XRX) – Xerox fell 2.8% in premarket trade after it missed estimates by 8 cents a share, with quarterly earnings of 22 cents per share. Revenue came in above forecasts. Xerox continued to see an impact from offices remaining closed due to the pandemic.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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Comment11

  • MOON88
    ·2021-04-21
    ?
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  • Kelvinphan
    ·2021-04-21
    Like & comment
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  • LeeKim
    ·2021-04-20
    Comment and like please
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    • Bbloh
      RePly my comment thanjs
      2021-04-20
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  • Hasngiv
    ·2021-04-20
     Great news 
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  • Bokoleng
    ·2021-04-20
    Good
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    • MrSoh
      Like
      2021-04-20
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  • S土豪熊貓G
    ·2021-04-20
    Tesla! Buy buy buy
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  • KW1
    ·2021-04-20
    Great
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    • Jinyuan
      great. pls reply
      2021-04-20
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  • J355
    ·2021-04-20
    [無語] 
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    • mQ
      ??
      2021-04-21
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  • APPLE!!!
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  • FlyHighFly
    ·2021-04-20
    Ok. Please help to comment and like. Thanks
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  • Zhengxiang
    ·2021-04-20
    Omg 
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