| What to watch today: Dow futures pop on Walmart and Home Depot strength | | |  | TUE, MAY 18, 2021 | | | | AS OF TUE, MAY 18, 2021 • 08:30 ET | | Dow Jones Fut | | 34,327.79 | | Current: | 34,319.00 | | Change: | 63.00 | | Impl. Open: | 68.21 | | | S&P 500 Fut | | 4,163.29 | | Current: | 4,165.75 | | Change: | 8.00 | | Impl. Open: | 7.46 | | | NASDAQ 100 Fut | | 13,312.91 | | Current: | 13,376.50 | | Change: | 73.00 | | Impl. Open: | 70.59 | | | Russell 2000 Mini | | 2,227.12 | | Current: | 2,231.30 | | Change: | 5.80 | | Impl. Open: | 5.18 | | | The Dow was set to rise nearly 100 points Tuesday, supported by gains in Walmart (WMT)and Home Depot (HD), two of the components in the 30-stock average. Tech stocks recovered in the premarket a day after they led Wall Street lower amid worries about last week's inflation report. (CNBC) | | | Walmart's first-quarter earnings surged past estimates on strong grocery sales and e-commerce growth. The retailer said more shoppers headed to its stores and website to spend stimulus checks. Per-share profit was $1.69. Revenue grew by nearly 3% to $138.31 billion. Walmart raised its outlook for the year. (CNBC)
Home Depot beat first-quarter earnings and revenue expectations as consumers' splurging on their homes lingered more than a year into the pandemic. Net sales rose nearly 33% to $37.5 billion. Per-share profit was $3.86. Home Depot has not released an outlook for fiscal 2021. (CNBC) | | Warren Buffett's Berkshire Hathaway (BRK.a) made several changes to its stock portfolio last quarter, including adding a new bet on U.K. insurance company Aon (AON) and increasing its stake in Kroger (KR), a new regulatory filing showed. Berkshire also added to its relatively new Verizon (VZ) position and cut its stake in Chevron (CVX), another new bet. (CNBC Pro) | | | | Former Apple marketing chief Phil Schiller testified that Apple does reduce its App Store fees for certain companies from 30% to 15% in exchange for them supporting Apple's TV app and other Apple features such as Siri. Schiller appeared on the stand as part of a lawsuit by "Fortnite" maker Epic Games. (CNBC) | | | | President Joe Biden and first lady Jill Biden earned $607,336 in 2020, according to their newly released tax return, a significant drop from their 2019 income that reflects Joe Biden's singular focus on campaigning for president last year. (CNBC) | | Shares of Macy's jumped roughly 5% in Tuesday's premarket, shortly after the department store chain reported a surprise first-quarter profit, as stimulus checks and the vaccine rollout gave consumers more money and greater confidence to head back to the mall and refresh their wardrobes. Better-than-expected Q1 revenue soared 56% to $4.71 billion. Macy's also hiked its financial outlook for the full year. | | | | Toyota (TM) stock hit a record high in Japanese market trading, surpassing the previous record set in 2015. Toyota has regained favor with investors, after forecasting a return to pre-pandemic profitability levels and dealing successfully with the global semiconductor shortage. | | | | Tencent Music Entertainment (TME) reported better-than-expected profit and sales for its latest quarter, thanks to growth in subscribership and improved ad revenue for its music streaming platform. | | | | Eastman Kodak (KODK) could be hit with an insider trading lawsuit by New York State Attorney General Letitia James, according to Reuters. The case involves stock purchases made by Kodak's CEO ahead of the announcement of a $765 million drug ingredients deal with the U.S. government. Kodak shares fell 1.9% in premarket trading. | | | | Twilio (TWLO) added 1.5% in premarket action after it struck a deal to buy business text messaging company Zipwhip for about $850 million in cash and stock. Zipwhip will become part of the cloud computing company's Messaging Business unit. | | | | Canadian National Railway (CNI) hit a procedural snag in its bid to buy U.S. rail operator Kansas City Southern (KSU). The U.S. Surface Transportation rejected Canadian National's submission because it did not include a detailed merger agreement. Canadian National said it would resubmit its plan. Canadian National added 1.4% in premarket trading. | | | | Disclosure: Comcast is the owner of NBCUniversal, the parent company of CNBC. | |  | | |
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