| What to watch today: Stocks set to fall after Dow, S&P 500 slide from record closes | | |  | TUE, APR 20, 2021 | | | | AS OF TUE, APR 20, 2021 • 09:07 ET | | Dow Jones Fut | | 34,077.63 | | Current: | 33,852.00 | | Change: | -106.00 | | Impl. Open: | -110.63 | | | S&P 500 Fut | | 4,163.26 | | Current: | 4,143.25 | | Change: | -12.25 | | Impl. Open: | -12.01 | | | NASDAQ 100 Fut | | 13,907.67 | | Current: | 13,866.75 | | Change: | -30.50 | | Impl. Open: | -29.92 | | | Russell 2000 Mini | | 2,232.00 | | Current: | 2,220.60 | | Change: | -8.70 | | Impl. Open: | -3.50 | | U.S. stock futures fell Tuesday as investors consider quarterly results from four Dow components and look ahead to Netflix (NFLX) earnings and an Apple product event in the afternoon. Apple (AAPL) is expected to unveil new iPads, iMacs as well as device tracking AirTags. (CNBC)
The Dow started the week off sliding from Friday's record close. The S&P 500 also fell modestly from its previous record close. The Nasdaq lost 1% on Monday after coming up just shy on Friday of the tech-heavy index's February record close. The 10-year Treasury yield was steady early Tuesday after ticking above 1.6%. However, it remained below last month's run of 14-month highs. (CNBC) | | | Johnson & Johnson (JNJ) beat estimates on first-quarter earnings and revenue, including $100 million in sales of its Covid vaccine, which is on hold in the U.S. as health regulators investigate rare but severe blood-clotting issues. CFO Joseph Welk told CNBC on Tuesday he hopes the "benefit-risk profile will play out" for the company's vaccine. Shares fell in the premarket. (CNBC)
* EU regulator prepares to issue advice on use of J&J vaccine (AP) | | | | Procter & Gamble (PG) topped expectations on earnings and revenue in its fiscal third quarter as consumers maintained Covid buying trends like purchasing more cleaning supplies and started buying beauty products again. Shares fell in the premarket. (CNBC) | | | | Travelers (TRV) reported better than expected earnings in the first quarter. Revenue basically matched estimates. The insurance giant raised its dividend and added $5 billion to its buyback program. Shares rose 1% in the premarket. (Press Release) | | | | Elon Musk denied that Tesla's (TSLA) automated driving systems were involved in a fatal crash in the Houston suburb of Spring, Texas, on Saturday. The Tesla CEO tweeted Monday: "Data logs recovered so far show Autopilot was not enabled." Local police said nobody was in the driver's seat when the 2019 Tesla Model S veered off the road and burst into flames. Two federal agencies are also investigating. (CNBC) | | | | Sen. Elizabeth Warren wants one of her biggest critics to face lawmakers in a hearing next week. Warren, a progressive Democrat from Massachusetts, is inviting billionaire investor Leon Cooperman to testify before a Senate Finance subcommittee hearing. (CNBC) | | | | Starting today, PayPal's (PYPL) Venmo will show users a new feature that lets them invest in four different cryptocurrencies with a minimum spending requirement of $1. With more than 70 million users, Venmo is one of the most popular digital payment services in the U.S. (CNBC) | | | | Senior executives with Alphabet's (GOOGL) Google and Apple will testify Wednesday about antitrust concerns related to their app stores along with executives of three companies which rely on those online stores, the leaders of the Senate Judiciary Committee's antitrust panel said on Monday. (Reuters) | | | | Former Vice President Walter Mondale, a liberal icon who lost one of the most lopsided presidential elections after bluntly telling voters to expect a tax increase if he won, died Monday. He was 93. In his failed 1984 run for the White House, Mondale picked Rep. Geraldine Ferraro of New York as his running mate, the first major-party presidential nominee to put a woman on the ticket. (AP) | | Kansas City Southern (KSU): Shares of the rail operator surged 18.9% in premarket trading, after Canadian National Railway (CNI) offered $325 per share in cash and stock for the company, topping a prior $275 per share offer from Canadian Pacific (CP). 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. | | | | 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. | | | | 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. | | | | Tobacco stocks, including British American Tobacco (BTI) and Altria (MO), were under pressure after The Wall Street Journal reported that the White House may order tobacco companies to cut nicotine levels in all cigarettes. | |  | | |
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