Futures are inching up with another wave of reports from big banks under way. Here’s what we’re watching ahead of Wednesday’s trading action.
- Earnings are due this morning from
Citigroup,
C -1.54%
Wells Fargo
WFC -2.11%
and
Delta Air Lines.
DAL -3.55%
-
BlackRock
BLK -0.86%
kicked off the day’s wave of expected reports, when it said its second-quarter profits rose 14%. Its assets under management rose 30% from a year ago to close to $10 trillion. But market watchers seemed unimpressed, as its shares slipped 1.5% premarket.
-
Bank of America
BAC -1.90%
was the next earnings report to drop, and it said consumer spending has significantly surpassed pre-pandemic levels, but also that low interest rates continued to be a challenge during the recent quarter. Its shares were down more than 2% ahead of the bell.
-
Apple
AAPL 0.79%
shares jumped 2% premarket after Bloomberg reported that the company is aiming to boost its iPhone production this year by up to 20%. And even though this year’s product update, due in September, is expected to bring only incremental changes, Apple is hoping that the shift to 5G and a better consumer environment post-pandemic will have the newer phones flying off the shelves.
-
American Airlines
AAL -3.93%
earnings aren’t due until next week, but investors appear to be hoping for some good news, as its shares are up 3% premarket.
- Investors in Canadian sports-media and betting company
Score Media & Gaming
SCR -2.51%
were taking their money off the table, sending its U.S.-traded shares down more than 7% off hours. It logged greater sales year over year in the latest quarter due to strength in its media business, but it posted a larger net loss as expenses rose.
-
ZoomInfo Technologies
ZI -0.19%
slipped 0.4% premarket after the business-intelligence platform, which is buying Chorus.ai for $575 million, on Tuesday raised about $500 million in debt.
Chart of the Day
- Investor and government funds are pouring into clean tech years after the failures of Solyndra and A123 Systems chilled early enthusiasm for green investing.
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