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2023-07-20

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Pre-Bell | Nasdaq, S&P 500 Futures Slide; Tesla Drops 4% While Netflix Sinks 6% After Q2 Reports

The S&P 500 and Nasdaq futures fell on Thursday as Tesla kicked off second-quarter earnings for megacap growth and technology stocks on a somber note, while Netflix slid as its quarterly revenue misse

Pre-Bell | Nasdaq, S&P 500 Futures Slide; Tesla Drops 4% While Netflix Sinks 6% After Q2 Reports

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Netflix posted earnings of $3.29 a share on $8.19 billion in revenue. Analysts surveyed by Refinitiv anticipated earnings o of $2.86 per share and $8.30 billion in revenue. Netflix also said it’s too early to break down revenue from its new ad-supported tier and password crackdown.</p><p style=\"text-align: start;\"><a href=\"https://laohu8.com/S/TSLA\">Tesla</a> — Shares lost more than 4% before the bell. The electric vehicle maker reported second-quarter earnings that topped Wall Street’s expectation on the top and bottom lines, and record quarterly revenue. Operating margins, however, fell to the lowest level in at least the past five quarters as a result of recent price cuts.</p><p style=\"text-align: start;\"><a href=\"https://laohu8.com/S/IBM\">IBM</a> — The tech stock dipped about 1% after the company reported a revenue miss for the second quarter, caused partly by a slump in the infrastructure division. However, IBM reported earnings that topped analysts’ estimates as the company expanded its gross margin. </p><p style=\"text-align: start;\"><a href=\"https://laohu8.com/S/JNJ\">Johnson &amp; Johnson</a> – The pharmaceutical giant saw shares rise more than 1% after it posted better-than-expected earnings and hiked its full-year guidance after seeing a surge in sales in its medtech division, which provides devices for surgeries, orthopedics and vision. J&amp;J posted adjusted earnings of $2.80 per share on revenue of $25.53 billion, beating the Refinitiv estimate of $2.62 per share on revenue of $24.62 billion.</p><p style=\"text-align: start;\"><a href=\"https://laohu8.com/S/LVS\">Las Vegas Sands</a> — The resort-and-casino stock fell 2% despite beating analyst expectations for its second quarter. Las Vegas Sands posted 46 cents in adjusted earnings per share on $2.54 billion in quarterly revenue, while analysts polled by Refinitiv forecasted 46 cents in earnings per share and revenue at $2.39 billion.</p><p style=\"text-align: start;\"><a href=\"https://laohu8.com/S/TSM\">Taiwan Semiconductor</a> – Shares of the chipmaker slid more than 2% after the company posted its first profit drop in four years as demand for consumer electronics continued to slump. Taiwan Semi posted net income of 181.8 billion New Taiwan dollars, which was higher than the Refinitiv estimate of NT$172.55 billion. Revenue for the quarter beat expectations too.</p><p style=\"text-align: start;\"><a href=\"https://laohu8.com/S/UAL\">United Airlines</a> — Shares rose 3% after United Airlines reported record quarterly earnings and said it expects a strong third quarter as travel demand surges.</p><p style=\"text-align: start;\"><a href=\"https://laohu8.com/S/ZION\">Zions Bancorp</a> — The regional bank jumped more than 7% after posting second-quarter earnings. During the period, the company reported a rebound in customer deposits. Earnings came in line with analyst expectations at $1.11 a share.</p><p style=\"text-align: start;\"><a href=\"https://laohu8.com/S/AAL\">American Airlines</a> — The airline stock lost 1% even after posting second-quarter results that surpassed analyst expectations. American Airlines also lifted its profit forecast for the year amid the ongoing travel boom.</p><p style=\"text-align: start;\"><a href=\"https://laohu8.com/S/DHI\">D.R. Horton</a> — The homebuilding stock rose 4% as strong demand in new home construction helped it top quarterly expectations. D.R. Horton reported earnings of $3.90 per share on $9.73 billion in revenue. Analysts polled by Refinitiv expected earnings of $2.79 per share on revenue of $8.39 billion.</p><p style=\"text-align: start;\"><a href=\"https://laohu8.com/S/BX\">Blackstone</a> — Blackstone lost 3% after second-quarter revenue fell short of expectations. The company reported earnings of 92 cents a share on $2.35 billion in revenue. Analysts polled by Refinitiv expected earnings per share of 92 cents and $2.43 billion in revenue.</p><p style=\"text-align: start;\"><a href=\"https://laohu8.com/S/BUD\">Anheuser-Busch</a> - Shares of the beleagured beermaker rose less than 1% in premarket trading after Morgan Stanley <u>upgraded </u>Anheuser-Busch to overweight. The stock presents a “very favourable risk reward” after a controversy around Bud Light caused shares to slide, according to Morgan Stanley.</p><h2 id=\"id_2194721265\">Market News</h2><h3 id=\"id_1947377848\"><a href=\"https://ttm.financial/NW/2352019222\" title=\"J&amp;J Raises Annual Profit Forecast on Medical Devices, Cancer Drugs Strength\" target=\"_blank\" class=\"\">J&amp;J Raises Annual Profit Forecast on Medical Devices, Cancer Drugs Strength</a></h3><p>Johnson &amp; Johnson raised its 2023 profit forecast on Thursday, banking on the strength in its medical devices business and demand for its cancer drugs such as Darzalex.</p><p>The company recently spun off its consumer health unit to focus on drugs and medical devices.</p><p>J&amp;J&#39;s top-selling drug, Stelara, which is going off patent, is expected to face competition from cheaper copies in 2025, and the company has been leaning on newer drugs such as cancer therapy Carvykti to replace a potential loss in sales.</p><h3 id=\"id_4241961027\"><a href=\"https://ttm.financial/NW/2352014792\" title=\"American Airlines Raises 2023 Profit Forecast on Travel Boom\" target=\"_blank\" class=\"\">American Airlines Raises 2023 Profit Forecast on Travel Boom</a></h3><p><a href=\"https://laohu8.com/S/AAL\">American Airlines </a> raised its annual forecast for adjusted profit on Thursday, powered by strong demand for domestic and international travel despite fears of a looming economic slowdown.</p><p style=\"text-align: start;\">Major airlines have been benefiting from an unprecedented surge in travel demand as consumers, faced with constrained budgets, cut expenditures on goods to spend on experiences.</p><h3 id=\"id_2544343102\"><a href=\"https://ttm.financial/NW/1123141631\" title=\"Philip Morris Beats Quarterly Profit As Cost Pressures Ease Amid Steady Demand\" target=\"_blank\" class=\"\">Philip Morris Beats Quarterly Profit As Cost Pressures Ease</a></h3><p><a href=\"https://laohu8.com/S/PM\">Philip Morris International </a> on Thursday beat Wall Street expectations for quarterly profit boosted by a let-up in soaring tobacco and labor costs and buoyant demand for its Zyn and IQOS products.</p><p style=\"text-align: start;\">The company&#39;s second-quarter adjusted profit per share of $1.60 beat analysts&#39; average estimates of a profit of $1.47.</p><h3 id=\"id_2265825089\"><a href=\"https://ttm.financial/NW/2352128100\" title=\"Blackstone&#39;s Quarterly Earnings Slump 39% As Asset Sales Plummet\" target=\"_blank\" class=\"\">Blackstone&#39;s Quarterly Earnings Slump 39% As Asset Sales Plummet</a></h3><p>Blackstone Inc said on Thursday its second-quarter distributable earnings slumped nearly 40%, owing to a sharp drop in asset sales mostly from its real estate and credit businesses.</p><p>Distributable earnings, which represent cash used to pay dividends to shareholders, fell to $1.2 billion from nearly $2 billion a year earlier. That resulted in distributable earnings of 93 cents, in line with average analyst estimate.</p><h3 id=\"id_1973960325\"><a href=\"https://ttm.financial/NW/2352601254\" title=\"Newmont Missed Quarterly Profit Estimates on Lower Output\" target=\"_blank\" class=\"\">Newmont Missed Quarterly Profit Estimates on Lower Output</a></h3><p>Gold miner Newmont missed Wall Street estimates for second-quarter profit on Thursday, hurt by lower production due to strikes in Mexico and the Canadian wildfires as well as higher costs.</p><p>Earlier in June, Newmont suspended operations at its Penasquito mine in Mexico in response to a labor strike notice.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Pre-Bell | Nasdaq, S&P 500 Futures Slide; Tesla Drops 4% While Netflix Sinks 6% After Q2 Reports</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nPre-Bell | Nasdaq, S&P 500 Futures Slide; Tesla Drops 4% While Netflix Sinks 6% After Q2 Reports\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2023-07-20 20:25</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>The S&amp;P 500 and Nasdaq futures fell on Thursday as Tesla kicked off second-quarter earnings for megacap growth and technology stocks on a somber note, while Netflix slid as its quarterly revenue missed analysts&#39; estimates.</p><h2 id=\"id_2681188284\">Market Snapshot</h2><p>At 8:20 a.m. ET, Dow e-minis were up 27 points, or 0.08%, S&amp;P 500 e-minis were down 6.25 points, or 0.14%, and Nasdaq 100 e-minis were down 87.25 points, or 0.55%.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/416723f63d29151ebd2f45b609ea0bc9\" title=\"\" tg-width=\"1170\" tg-height=\"410\"/></p><h2 id=\"id_3855732543\">Pre-Market Movers</h2><p><a href=\"https://laohu8.com/S/NFLX\">Netflix</a> — The streaming giant shed nearly 6% after reporting mixed quarterly results. Netflix posted earnings of $3.29 a share on $8.19 billion in revenue. Analysts surveyed by Refinitiv anticipated earnings o of $2.86 per share and $8.30 billion in revenue. Netflix also said it’s too early to break down revenue from its new ad-supported tier and password crackdown.</p><p style=\"text-align: start;\"><a href=\"https://laohu8.com/S/TSLA\">Tesla</a> — Shares lost more than 4% before the bell. The electric vehicle maker reported second-quarter earnings that topped Wall Street’s expectation on the top and bottom lines, and record quarterly revenue. Operating margins, however, fell to the lowest level in at least the past five quarters as a result of recent price cuts.</p><p style=\"text-align: start;\"><a href=\"https://laohu8.com/S/IBM\">IBM</a> — The tech stock dipped about 1% after the company reported a revenue miss for the second quarter, caused partly by a slump in the infrastructure division. However, IBM reported earnings that topped analysts’ estimates as the company expanded its gross margin. </p><p style=\"text-align: start;\"><a href=\"https://laohu8.com/S/JNJ\">Johnson &amp; Johnson</a> – The pharmaceutical giant saw shares rise more than 1% after it posted better-than-expected earnings and hiked its full-year guidance after seeing a surge in sales in its medtech division, which provides devices for surgeries, orthopedics and vision. J&amp;J posted adjusted earnings of $2.80 per share on revenue of $25.53 billion, beating the Refinitiv estimate of $2.62 per share on revenue of $24.62 billion.</p><p style=\"text-align: start;\"><a href=\"https://laohu8.com/S/LVS\">Las Vegas Sands</a> — The resort-and-casino stock fell 2% despite beating analyst expectations for its second quarter. Las Vegas Sands posted 46 cents in adjusted earnings per share on $2.54 billion in quarterly revenue, while analysts polled by Refinitiv forecasted 46 cents in earnings per share and revenue at $2.39 billion.</p><p style=\"text-align: start;\"><a href=\"https://laohu8.com/S/TSM\">Taiwan Semiconductor</a> – Shares of the chipmaker slid more than 2% after the company posted its first profit drop in four years as demand for consumer electronics continued to slump. Taiwan Semi posted net income of 181.8 billion New Taiwan dollars, which was higher than the Refinitiv estimate of NT$172.55 billion. Revenue for the quarter beat expectations too.</p><p style=\"text-align: start;\"><a href=\"https://laohu8.com/S/UAL\">United Airlines</a> — Shares rose 3% after United Airlines reported record quarterly earnings and said it expects a strong third quarter as travel demand surges.</p><p style=\"text-align: start;\"><a href=\"https://laohu8.com/S/ZION\">Zions Bancorp</a> — The regional bank jumped more than 7% after posting second-quarter earnings. During the period, the company reported a rebound in customer deposits. Earnings came in line with analyst expectations at $1.11 a share.</p><p style=\"text-align: start;\"><a href=\"https://laohu8.com/S/AAL\">American Airlines</a> — The airline stock lost 1% even after posting second-quarter results that surpassed analyst expectations. American Airlines also lifted its profit forecast for the year amid the ongoing travel boom.</p><p style=\"text-align: start;\"><a href=\"https://laohu8.com/S/DHI\">D.R. Horton</a> — The homebuilding stock rose 4% as strong demand in new home construction helped it top quarterly expectations. D.R. Horton reported earnings of $3.90 per share on $9.73 billion in revenue. Analysts polled by Refinitiv expected earnings of $2.79 per share on revenue of $8.39 billion.</p><p style=\"text-align: start;\"><a href=\"https://laohu8.com/S/BX\">Blackstone</a> — Blackstone lost 3% after second-quarter revenue fell short of expectations. The company reported earnings of 92 cents a share on $2.35 billion in revenue. Analysts polled by Refinitiv expected earnings per share of 92 cents and $2.43 billion in revenue.</p><p style=\"text-align: start;\"><a href=\"https://laohu8.com/S/BUD\">Anheuser-Busch</a> - Shares of the beleagured beermaker rose less than 1% in premarket trading after Morgan Stanley <u>upgraded </u>Anheuser-Busch to overweight. The stock presents a “very favourable risk reward” after a controversy around Bud Light caused shares to slide, according to Morgan Stanley.</p><h2 id=\"id_2194721265\">Market News</h2><h3 id=\"id_1947377848\"><a href=\"https://ttm.financial/NW/2352019222\" title=\"J&amp;J Raises Annual Profit Forecast on Medical Devices, Cancer Drugs Strength\" target=\"_blank\" class=\"\">J&amp;J Raises Annual Profit Forecast on Medical Devices, Cancer Drugs Strength</a></h3><p>Johnson &amp; Johnson raised its 2023 profit forecast on Thursday, banking on the strength in its medical devices business and demand for its cancer drugs such as Darzalex.</p><p>The company recently spun off its consumer health unit to focus on drugs and medical devices.</p><p>J&amp;J&#39;s top-selling drug, Stelara, which is going off patent, is expected to face competition from cheaper copies in 2025, and the company has been leaning on newer drugs such as cancer therapy Carvykti to replace a potential loss in sales.</p><h3 id=\"id_4241961027\"><a href=\"https://ttm.financial/NW/2352014792\" title=\"American Airlines Raises 2023 Profit Forecast on Travel Boom\" target=\"_blank\" class=\"\">American Airlines Raises 2023 Profit Forecast on Travel Boom</a></h3><p><a href=\"https://laohu8.com/S/AAL\">American Airlines </a> raised its annual forecast for adjusted profit on Thursday, powered by strong demand for domestic and international travel despite fears of a looming economic slowdown.</p><p style=\"text-align: start;\">Major airlines have been benefiting from an unprecedented surge in travel demand as consumers, faced with constrained budgets, cut expenditures on goods to spend on experiences.</p><h3 id=\"id_2544343102\"><a href=\"https://ttm.financial/NW/1123141631\" title=\"Philip Morris Beats Quarterly Profit As Cost Pressures Ease Amid Steady Demand\" target=\"_blank\" class=\"\">Philip Morris Beats Quarterly Profit As Cost Pressures Ease</a></h3><p><a href=\"https://laohu8.com/S/PM\">Philip Morris International </a> on Thursday beat Wall Street expectations for quarterly profit boosted by a let-up in soaring tobacco and labor costs and buoyant demand for its Zyn and IQOS products.</p><p style=\"text-align: start;\">The company&#39;s second-quarter adjusted profit per share of $1.60 beat analysts&#39; average estimates of a profit of $1.47.</p><h3 id=\"id_2265825089\"><a href=\"https://ttm.financial/NW/2352128100\" title=\"Blackstone&#39;s Quarterly Earnings Slump 39% As Asset Sales Plummet\" target=\"_blank\" class=\"\">Blackstone&#39;s Quarterly Earnings Slump 39% As Asset Sales Plummet</a></h3><p>Blackstone Inc said on Thursday its second-quarter distributable earnings slumped nearly 40%, owing to a sharp drop in asset sales mostly from its real estate and credit businesses.</p><p>Distributable earnings, which represent cash used to pay dividends to shareholders, fell to $1.2 billion from nearly $2 billion a year earlier. That resulted in distributable earnings of 93 cents, in line with average analyst estimate.</p><h3 id=\"id_1973960325\"><a href=\"https://ttm.financial/NW/2352601254\" title=\"Newmont Missed Quarterly Profit Estimates on Lower Output\" target=\"_blank\" class=\"\">Newmont Missed Quarterly Profit Estimates on Lower Output</a></h3><p>Gold miner Newmont missed Wall Street estimates for second-quarter profit on Thursday, hurt by lower production due to strikes in Mexico and the Canadian wildfires as well as higher costs.</p><p>Earlier in June, Newmont suspended operations at its Penasquito mine in Mexico in response to a labor strike notice.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1189448109","content_text":"The S&P 500 and Nasdaq futures fell on Thursday as Tesla kicked off second-quarter earnings for megacap growth and technology stocks on a somber note, while Netflix slid as its quarterly revenue missed analysts' estimates.Market SnapshotAt 8:20 a.m. ET, Dow e-minis were up 27 points, or 0.08%, S&P 500 e-minis were down 6.25 points, or 0.14%, and Nasdaq 100 e-minis were down 87.25 points, or 0.55%.Pre-Market MoversNetflix — The streaming giant shed nearly 6% after reporting mixed quarterly results. Netflix posted earnings of $3.29 a share on $8.19 billion in revenue. Analysts surveyed by Refinitiv anticipated earnings o of $2.86 per share and $8.30 billion in revenue. Netflix also said it’s too early to break down revenue from its new ad-supported tier and password crackdown.Tesla — Shares lost more than 4% before the bell. The electric vehicle maker reported second-quarter earnings that topped Wall Street’s expectation on the top and bottom lines, and record quarterly revenue. Operating margins, however, fell to the lowest level in at least the past five quarters as a result of recent price cuts.IBM — The tech stock dipped about 1% after the company reported a revenue miss for the second quarter, caused partly by a slump in the infrastructure division. However, IBM reported earnings that topped analysts’ estimates as the company expanded its gross margin. Johnson & Johnson – The pharmaceutical giant saw shares rise more than 1% after it posted better-than-expected earnings and hiked its full-year guidance after seeing a surge in sales in its medtech division, which provides devices for surgeries, orthopedics and vision. J&J posted adjusted earnings of $2.80 per share on revenue of $25.53 billion, beating the Refinitiv estimate of $2.62 per share on revenue of $24.62 billion.Las Vegas Sands — The resort-and-casino stock fell 2% despite beating analyst expectations for its second quarter. Las Vegas Sands posted 46 cents in adjusted earnings per share on $2.54 billion in quarterly revenue, while analysts polled by Refinitiv forecasted 46 cents in earnings per share and revenue at $2.39 billion.Taiwan Semiconductor – Shares of the chipmaker slid more than 2% after the company posted its first profit drop in four years as demand for consumer electronics continued to slump. Taiwan Semi posted net income of 181.8 billion New Taiwan dollars, which was higher than the Refinitiv estimate of NT$172.55 billion. Revenue for the quarter beat expectations too.United Airlines — Shares rose 3% after United Airlines reported record quarterly earnings and said it expects a strong third quarter as travel demand surges.Zions Bancorp — The regional bank jumped more than 7% after posting second-quarter earnings. During the period, the company reported a rebound in customer deposits. Earnings came in line with analyst expectations at $1.11 a share.American Airlines — The airline stock lost 1% even after posting second-quarter results that surpassed analyst expectations. American Airlines also lifted its profit forecast for the year amid the ongoing travel boom.D.R. Horton — The homebuilding stock rose 4% as strong demand in new home construction helped it top quarterly expectations. D.R. Horton reported earnings of $3.90 per share on $9.73 billion in revenue. Analysts polled by Refinitiv expected earnings of $2.79 per share on revenue of $8.39 billion.Blackstone — Blackstone lost 3% after second-quarter revenue fell short of expectations. The company reported earnings of 92 cents a share on $2.35 billion in revenue. Analysts polled by Refinitiv expected earnings per share of 92 cents and $2.43 billion in revenue.Anheuser-Busch - Shares of the beleagured beermaker rose less than 1% in premarket trading after Morgan Stanley upgraded Anheuser-Busch to overweight. The stock presents a “very favourable risk reward” after a controversy around Bud Light caused shares to slide, according to Morgan Stanley.Market NewsJ&J Raises Annual Profit Forecast on Medical Devices, Cancer Drugs StrengthJohnson & Johnson raised its 2023 profit forecast on Thursday, banking on the strength in its medical devices business and demand for its cancer drugs such as Darzalex.The company recently spun off its consumer health unit to focus on drugs and medical devices.J&J's top-selling drug, Stelara, which is going off patent, is expected to face competition from cheaper copies in 2025, and the company has been leaning on newer drugs such as cancer therapy Carvykti to replace a potential loss in sales.American Airlines Raises 2023 Profit Forecast on Travel BoomAmerican Airlines  raised its annual forecast for adjusted profit on Thursday, powered by strong demand for domestic and international travel despite fears of a looming economic slowdown.Major airlines have been benefiting from an unprecedented surge in travel demand as consumers, faced with constrained budgets, cut expenditures on goods to spend on experiences.Philip Morris Beats Quarterly Profit As Cost Pressures EasePhilip Morris International  on Thursday beat Wall Street expectations for quarterly profit boosted by a let-up in soaring tobacco and labor costs and buoyant demand for its Zyn and IQOS products.The company's second-quarter adjusted profit per share of $1.60 beat analysts' average estimates of a profit of $1.47.Blackstone's Quarterly Earnings Slump 39% As Asset Sales PlummetBlackstone Inc said on Thursday its second-quarter distributable earnings slumped nearly 40%, owing to a sharp drop in asset sales mostly from its real estate and credit businesses.Distributable earnings, which represent cash used to pay dividends to shareholders, fell to $1.2 billion from nearly $2 billion a year earlier. That resulted in distributable earnings of 93 cents, in line with average analyst estimate.Newmont Missed Quarterly Profit Estimates on Lower OutputGold miner Newmont missed Wall Street estimates for second-quarter profit on Thursday, hurt by lower production due to strikes in Mexico and the Canadian wildfires as well as higher costs.Earlier in June, Newmont suspended operations at its Penasquito mine in Mexico in response to a labor strike notice.","news_type":1},"isVote":1,"tweetType":1,"viewCount":255,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"upFlag":false,"length":6,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}