Here's what is happening in the markets today, Tuesday, July 27th
Show Notes
- Futures point to lower start in spite of strong earnings.
- Chinese stocks continue their slide after regulatory crackdowns, especially in tech and education (JD, BABA, DIDI, GOTU, EDU, TAL).
- Tesla (TSLA) big earnings beat reporting 1 bil in net income earning $1.45EPS vs. a $0.98est. Tesla says its success in the 2nd half of 2021 will be based on its ability to work around supply chain issues.
- F5 Networks (FFIV) up 6.0% pre-market after reporting an earnings beat, up $2.76EPS vs. $2.46est. The software company said it saw strong demand with continued pandemic-induced growth in its digital business applications.
- United Parcel Service (UPS) is down 2.4% pre-market after reporting earnings. UPS reported $3.06EPS vs. a $2.82est. but domestic rev came in lower than expected.
- 3M (MMM) is up 1.0% pre-market after reporting $2.59EPS vs. $2.28est. Rev was also better and the company raised its full year outlook with its business looking to continue to recover from the pandemic.
- General Electric (GE) is up 4.0% pre-market after an earnings beat. GE reported 0.05EPS vs 0.02est with rev better than expected helped by its aviation and power divisions.
- Raytheon Technologies (RTX) is up almost 2.0% pre-market after reporting $1.03EPS vs. a 0.93est. Rev was also better and the company raised its full year forecast with the rebound in commercial air travel helping demand for its products.
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