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Tuesday, August 3, 2021

Coca-Cola, Johnson & Johnson, Chipotle: What to Watch When the Stock Market Opens Today

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Stock futures edged higher Wednesday, suggesting major indexes will extend their rebound 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

    rose 2.2% in premarket trading after it updated its full-year guidance and reported a jump in second-quarter earnings per share.

  • Johnson & Johnson

    edged up 1.1% after it beat analysts’ estimates on quarterly sales and profit from rising sales of medical devices, drugs and consumer-health products.

  • Chipotle Mexican Grill

    climbed 4.5% 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

    climbed 2.7% after reporting a jump in revenues driven by higher sales of motorcycles in North America.

  • United Airlines

    added 1.1% 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

    edged down 0.8% 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.

  • Robot-assisted surgical equipment maker

    Intuitive Surgical

    advanced 3.3% 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.

  • U.S.-traded shares of

    ASML Holding,

    a Dutch supplier to the semiconductor industry, rose 3.2% premarket after it reported a rise in second-quarter profit, a new share buyback program and higher full-year sales guidance.

  • Cruise lines climbed, extending Tuesday’s gains into a second day.

    Carnival

    is up 2.2% ahead of the bell and

    Royal Caribbean Group

    rose 1.1%.

  • Appliance maker

    Whirlpool,

    casino operator

    Las Vegas Sands

    and credit reporting agency

    Equifax

    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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