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CNBCU.S. stock futures were higher Tuesday morning, as

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MiamiGent Member Level  Tuesday, 10/26/21 10:33:55 AM
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U.S. stock futures were higher Tuesday morning, as Wall Street looked to build on Monday's record close for the Dow Jones Industrial Average and S&P 500. Dow futures implied an opening gain of more than 100 points, and S&P 500 and Nasdaq futures also were firmly in the green. The blue-chip Dow has risen in four of its past five sessions, while the broad S&P has posted eight positive sessions in its past nine. The tech-heavy Nasdaq, which outperformed Monday, enters Tuesday 1.15% off its record high. (CNBC)

* Treasury yields fall slightly on Tuesday (CNBC)
Tuesday's earnings slate is crowded. United Parcel Service (UPS) , Eli Lilly (LLY), 3M (MMM) and General Electric (GE), among others, reported before the bell. After the close, Alphabet (GOOGL), Microsoft (MSFT), Twitter (TWTR), Robinhood (HOOD) and Advanced Micro Devices (AMD) are scheduled to release results.

* UPS delivers profit, revenue beat on e-commerce demand (UPS)

* GE lifts 2021 earnings forecast, flags 'challenging operating environment' (Reuters)


Facebook (FB) shares were higher by about 2% in premarket trading, as investors cheered the social media company's better-than-expected third-quarter earnings and its decision to add $50 billion to its stock repurchase plan. While Facebook's revenue fell short of estimates, per-share earnings of $3.22 topped projections of $3.19, according to Refinitiv. (CNBC)

* Zuckerberg slams recent negative press before painting rosy, futuristic vision for Facebook (CNBC)

Tesla (TSLA) reached $1 trillion in market capitalization Monday, after shares of the electric vehicle maker surged 12.66% to close at $1,024.86. The stock was down by less than 1% in Tuesday's premarket. Monday's big move followed news that car rental company Hertz is ordering 100,000 vehicles from Tesla by the end of 2022. It also came after Morgan Stanley auto analyst Adam Jonas hiked his price target on Tesla to $1,200 from $900. (CNBC)

* Americans are buying Teslas, not EVs, but experts say that s about to change (CNBC)

Verizon (VZ) and Amazon (AMZN) are partnering to expand rural broadband access in the U.S, the companies announced Tuesday. To do so, Verizon plans to use Amazon's coming satellite internet system, known as Project Kuiper, which last year received authorization from the Federal Communications Commission. (CNBC)

The Biden administration released new details Monday on its Covid rules that will go into effect Nov. 8, when the U.S. removes curbs on international travel that had been in place since the early days of the coronavirus pandemic in 2020. Airlines will be required to check the vaccination status of passengers flying to the U.S. and collect information that can be used for contact tracing. (CNBC)

Congressional Democrats and the White House are hustling to reach a deal on their signature domestic spending package, possibly before President Joe Biden heads to Europe on Thursday for a series of meetings. Should Democrats agree on a scaled-back version of the spending plan, House Speaker Nancy Pelosi would then bring up for vote the companion bipartisan infrastructure bill that's already passed the Senate. If the House approves that legislation, Biden may sign it into law later this week. (CNBC)


General Electric (GE) beat estimates by 14 cents a share, with quarterly profit of 57 cents per share. Revenue came in below analysts' forecasts, however. The company also reported better-than-expected free cash flow. Its shares rose 1.4% in premarket trading.

Recreational vehicle maker Polaris (PII) tumbled 5.9% in premarket action after the company cut its full-year outlook, hurt by supply chain constraints. Polaris matched estimates with quarterly earnings of $1.98 per share. Revenue fell short of consensus.

United Parcel Service (UPS) rallied 5% in the premarket following better-than-expected results. UPS reported quarterly earnings of $2.71 per share, 16 cents a share above estimates. Revenue also topped forecasts on strong e-commerce demand.

Corning (GLW) fell 3.4% in the premarket after it reported that the automotive industry production slowdown impacted its quarterly results. The glass and specialty materials maker missed estimates by 2 cents a share, with quarterly earnings of 56 cents per share. Revenue also missed forecasts.

Eli Lilly (LLY) shares gained 1% in premarket action despite a 4 cents a share quarterly earnings miss, with profit of $1.94 per share. Revenue beat forecasts, but the drugmaker spent more money during the quarter on research and development. The company also raised its full-year outlook.

3M (MMM) reported quarterly earnings of $2.45 per share, compared with a consensus estimate of $2.20 a share. Revenue exceeded Street forecasts.
3M saw increased demand during the quarter for both its consumer and industrial segments.

Hasbro (HAS) beat consensus forecasts by 27 cents a share, with quarterly earnings of $1.96 per share. The toy maker's revenue matched analysts' projections. Hasbro warned that supply chain bottlenecks would hit holiday sales.

The RealReal (REAL) jumped 4.8% in the premarket after Raymond James upgraded the online seller of secondhand luxury goods to outperform from market perform. Raymond James cites near-term revenue strength and the prospects for profitability growth.

Coinbase (COIN) gained 2% in premarket trading after Citi began coverage of the cryptocurrency exchange operator with a buy/high-risk rating. Citi said the risk stems from exposure to the volatile crypto market but said the company will benefit from increasing adoption.


Peter Schacknow

Kevin Stankiewicz

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