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Philip Morris International (PM) has an average rating of overweight and mean price target of $207.46, according to analysts polled by FactSet.Price: $201.90, Change: $+1.73, Percent Change: +0.86%
Consumer stocks were mixed late Wednesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) increasing 0.3% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) shedding 0.8%.In corporate news, Paramount Skydance (PSKY) won conditional approval from the European Commission for its acquisition of Warner Bros. Discovery (WBD). Paramount shares rose 2.5%, and Warner gained 0.3%.Uber (UBER) and Lyft (LYFT) were granted a preliminary injunction by US District Judge Gregory Woods, blocking a recently enacted New York City law protecting ride-share drivers from "wrongful deactivations." Uber shares fell 2%, and Lyft slumped 4.2%.Alaska Air (ALK) shares fell 3% after the airline issued a Q3 earnings outlook below market estimates and swung to a Q2 loss as higher fuel costs weighed on results.Philip Morris International (PM) reported better-than-expected Q2 results and reiterated its full-year outlook. The shares climbed 3.3%.
Consumer stocks were mixed Wednesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) increasing 0.4% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) shedding 0.6%.In corporate news, Alaska Air (ALK) shares fell 4.5% after the airline issued a Q3 earnings outlook below market estimates and swung to a Q2 loss as higher fuel costs weighed on results.Philip Morris International (PM) reported better-than-expected Q2 results and reiterated its full-year outlook. The shares rose 3%.AT&T's (T) Q2 earnings beat Wall Street's estimates on stronger-than-expected growth in wireless subscribers. The stock rose 2.7%.
The Dow Jones Industrial Average and the S&P 500 Index were up, while the Nasdaq Composite were down in late-morning trading Wednesday as the US and Iran continued to exchange attacks and threats in the Middle East.President Trump issued another warning against Iran, threatening to retaliate against every attack on ships in the Strait of Hormuz. "From this point forward, any time the Islamic Republic of Iran shoots at a ship in the Strait of Hormuz, whether it be by Missile, Rocket, Drone, or any other device or weapon, the United States will bomb and destroy ONE BRIDGE OR POWER PLANT, including those located next to, or in, the Capital City of Tehran," Trump said in a post on Wednesday. Meanwhile, Iran-backed Houthi militants in Yemen are prepared to attack vessels transiting the Red Sea's southern access point, which is an alternative route to the Strait of Hormuz, according to a CNBC report citing the Joint Maritime Information Center.In company news, Advanced Micro Devices (AMD) and Anthropic are collaborating deploy up to 2 gigawatts of AMD Instinct MI450 Series GPUs in AMD Helios rack-scale systems, with the first deployment planned for the first half of next year, AMD said Wednesday. The companies have also launched a multi-year engineering collaboration to use Anthropic's Claude models to optimize workloads for AMD Instinct GPUs and accelerate development of AMD's ROCm software. AMD shares were up 2.1% around midday.Philip Morris International (PM) reported Q2 adjusted earnings Wednesday of $2.20 per diluted share, up from $1.91 a year earlier and above the FactSet consensus analyst estimate of $2.03. Q2 net revenue was $11.19 billion, up from $10.14 billion a year ago and above the FactSet consensus of $10.60 billion. For Q3, the company said it expects adjusted EPS of $2.20 to $2.25. Analysts expect $2.42. For full-year 2026, Philip Morris updated its adjusted EPS guidance to a range of $8.26 to $8.41, down from its previous guidance of $8.36 to $8.51. Analysts expect $8.36. The company's total shipment volume for the quarter increased by 2.5% to 205.2 billion units, buoyed by growth of 7.5% in smoke-free products. Shipment volume for cigarettes was up 1.1%, while electronic vapor jumped 55%. Heated tobacco unit shipment volume climbed 7.6% to 41.8 billion units. "With a robust first half under our belt, including continued momentum and strong results in our smoke-free business, we are well positioned to deliver on our full-year targets while investing for future growth," Chief Executive Jacek Olczak said. Philip Morris shares were up 2.7%.GE Vernova (GEV) reported Q2 earnings Wednesday of $2.47 per diluted share, up from $1.86 a year earlier and below the FactSet consensus analyst estimate of $3.18. Q2 total revenue was $11.10 billion, up from $9.11 billion a year ago and above the FactSet consensus of $10.80 billion. For 2026, the company increased its 2026 revenue guidance to a range of $45.5 billion to $46.5 billion, up from the previous outlook of $44.5 billion to $45.5 billion. Analysts expect $45.43 billion. GE Vernova shares were down 6.6%.Rocket Lab (RKLB) was awarded a $266 million firm-fixed-price completion contract for suborbital launch vehicles, the US Department of Defense said late Tuesday. Work for the Air Force project is expected to be completed by Dec. 31, 2028. Rocket Lab shares were up 5%.AT&T (T) reported Q2 adjusted earnings Wednesday of $0.65 per diluted share, up from $0.54 a year earlier and above the FactSet consensus analyst estimate of $0.59. Q2 operating revenue was $31.56 billion, up from $30.85 billion a year ago and below the FactSet consensus of $31.80 billion. For full-year 2026, the company said it continues to expect adjusted EPS of $2.25 to $2.35. Analysts polled by FactSet are looking for $2.32. The company said it "delivered a record quarter for combined fiber and fixed wireless net adds and its strongest consumer postpaid wireless account growth in more than three years." AT&T added 432,000 net postpaid phone subscribers in the quarter, higher than the consensus on FactSet for 338,500 additions. Further, revenue in the advanced connectivity segment rose 4.1% to $28.62 billion, driven by a gain of 5.1% in services, while wireless service revenue grew 3.3%, buoyed by retail subscribers in underpenetrated categories and converged accounts, as well as pricing actions. AT&T shares were up 3.2%.Repligen (RGEN) has agreed to acquire BioLife Solutions (BLFS) in a deal valued at $1.5 billion, the companies said Wednesday. BioLife shareholders will receive $11.25 per share in cash and 0.1442 Repligen shares, valuing BioLife at $31 per share, or about $1.5 billion, representing a 24% premium to its 90-day volume-weighted average share price, under the agreement. Repligen said the deal is expected to be accretive to revenue growth, adjusted margins and adjusted earnings per share, with at least $20 million in cost synergies in the first year. The transaction is expected to close in Q4. Repligen shares were up 3.5%, while BioLife shares were up 7.5%.Price: $555.06, Change: $+10.63, Percent Change: +1.95%
Philip Morris International (PM) reported better-than-expected results in the previous three-month period, while the tobacco company reiterated its full-year outlook.The cigarette and vape maker reported adjusted earnings, excluding currency, of $2.17 a share for the June quarter, up from $1.91 the year before. The consensus on FactSet was for $2.03. Revenue improved more than 10% to $11.19 billion, topping the average analyst estimate on FactSet of $10.6 billion. On an organic basis, sales climbed 7.6% annually.Philip Morris' total shipment volume increased by 2.5% to 205.2 billion units, buoyed by growth of 7.5% in smoke-free products. Shipment volume for cigarettes was up 1.1%, while electronic vapor jumped 55%. Heated tobacco unit shipment volume climbed 7.6% to 41.8 billion units.For the 2026 full year, the group continues to project adjusted EPS, excluding currency, to be in a range of $8.11 to $8.26. The Street is looking for $8.38. It also maintained its organic revenue growth estimate of 5% to 7% for the current year.The company's shares advanced 3% in Tuesday trade, taking the stock's year-to-date gain to 20%."With a robust first half under our belt, including continued momentum and strong results in our smoke-free business, we are well positioned to deliver on our full-year targets while investing for future growth," Chief Executive Jacek Olczak said in a statement.The conflict in the Middle East has had a "minor impact" on the company's business so far, primarily affecting transport, energy and other input costs, it said. High energy prices and supply disruptions in a number of markets have yet to lead to a noticeable change in consumer behavior, according to Philip Morris.The US and Iran resumed their conflict this month just weeks after signing a memorandum of understanding to end the war that began at the end of February."The situation remains volatile, and it is difficult to assess the broader long term implications for the consumer or the global cost environment," the company said. "We will continue to closely monitor developments to assess the mid-to-long term consequences."For the ongoing quarter, Philip Morris anticipates adjusted EPS to come in between $2.20 and $2.25, including a foreign-currency headwind of $0.08 at prevailing exchange rates. The current consensus on FactSet is for non-GAAP EPS of $2.42.The company anticipates its topline to grow by a mid-single-digit in the third quarter on an organic basis, with "modest organic margin expansion," Chief Financial Officer Emmanuel Babeau said in prepared remarks for an earnings call. Shipments of heated tobacco units are pegged at 41 billion, according to Babeau.Price: $192.67, Change: $+4.63, Percent Change: +2.46%
Consumer stocks were mixed pre-bell Wednesday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) 0.2% higher and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) marginally declining.Philip Morris International (PM) shares were down more than 1% after the company issued Q3 adjusted EPS outlook below analysts' expectations and cut its 2026 adjusted EPS guidance.Cal-Maine Foods (CALM) stock was down more than 7% after the company reported that it swung to a fiscal Q4 loss as net sales fell during the period.Nike (NKE), facing flagging revenue in China, will in January halt online sales of company products on certain retailer and wholesaler platforms, and bring internet sales and marketing in-house, Reuters reported. Nike shares were 1% lower premarket.
Consumer stocks were mixed pre-bell Wednesday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) 0.2% higher and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) marginally declining.Philip Morris International (PM) shares were down more than 1% after the company issued Q3 adjusted EPS outlook below analysts' expectations and cut its 2026 adjusted EPS guidance.
(Updates with economic data, recent oil price movement, world markets' overview and corporate stock movements.)US equity futures were lower pre-bell Wednesday as oil prices rose following US Secretary of State Marco Rubio's statement that Iran was not taking negotiations seriously.Dow Jones Industrial Average futures were 0.2% lower, S&P 500 futures were down 0.4%, and Nasdaq futures were 1% lower.US Central Command said in a post on X that it completed the 11th straight day of attacks against Iran, stating that the Strait of Hormuz "remains open for commercial vessel transit.""The problem we're having right now is that they're not serious about talks. If they're serious, we're serious. If they're not, then we will do what's necessary to protect our interests, and also the interests of our allies," Rubio said during the ASEAN Foreign Ministers' meeting in the Philippines, according to multiple media reports.Traders also took note of the latest round of earnings, with Philip Morris International (PM) reporting higher Q2 adjusted earnings and net revenue.Alphabet (GOOG, GOOGL) is expected to report its Q2 earnings after the market closes. Analysts polled by FactSet expect earnings of $2.88 per share on revenue of $117.06 billion.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 3.1% at $93.84 per barrel and US West Texas Intermediate crude 2.8% higher at $86.70 per barrel.The Atlanta Fed Business Inflation Expectations survey for July is expected at 10 am ET.In other world markets, Japan's Nikkei closed 0.2% lower, Hong Kong's Hang Seng ended 1% lower, and China's Shanghai Composite finished 0.1% higher. Meanwhile, the UK's FTSE 100 was up 1.5%, and Germany's DAX index was 0.3% higher in Europe's early afternoon session.In equities, Super Micro Computer (SMCI) stock was up 14% after the company said it expects fiscal Q4 gross margins of 15% to 17%, significantly above its 8.2% to 8.4% forecast due to a favorable customer and product mix. AT&T (T) shares rose 4.2% after the company reported better-than-expected Q2 adjusted earnings. Energy-related stocks rose along with oil prices, including Exxon Mobil (XOM), which was up 1%, and Chevron (CVX), which was 1% higher.On the losing side, Philip Morris shares were down 1.9% after the company issued lower-than-expected guidance for Q3. SK hynix (SKHY) stock was down 7.1% after a Korea JoongAng Daily report on Tuesday that the company is considering acquiring Intel's (INTC) semiconductor campus in New Albany, Ohio, which the South Korean chipmaker denied in a Korea Exchange filing. GE Vernova (GEV) shares fell 5.1% after the company posted a Q2 earnings miss.
US equity futures were lower pre-bell Wednesday as oil prices rose following US Secretary of State Marco Rubio's statement that Iran was not taking negotiations seriously.Dow Jones Industrial Average futures were 0.1% lower, S&P 500 futures were down 0.3%, and Nasdaq futures were 0.7% lower.US Central Command said in a post on X that it completed the 11th straight day of attacks against Iran, stating that the Strait of Hormuz "remains open for commercial vessel transit.""The problem we're having right now is that they're not serious about talks. If they're serious, we're serious. If they're not, then we will do what's necessary to protect our interests, and also the interests of our allies," Rubio said during the ASEAN Foreign Ministers' meeting in the Philippines, according to multiple media reports.Traders also took note of the latest round of earnings, with Philip Morris International (PM) reporting higher Q2 adjusted earnings and net revenue.Alphabet (GOOG, GOOGL) is expected to report its Q2 earnings after the market closes. Analysts polled by FactSet expect earnings of $2.88 per share on revenue of $117.06 billion.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 4.1% at $94.74 per barrel and US West Texas Intermediate crude 3.8% higher at $87.57 per barrel.The Atlanta Fed Business Inflation Expectations survey for July is expected at 10 am ET.
The main US stock measures were pointing lower in Wednesday's premarket activity as investors await the latest financial results of technology giants Alphabet (GOOG, GOOGL) and Tesla (TSLA) and monitor the ongoing Middle East conflict.The S&P 500 declined 0.3%, the Dow Jones Industrial Average edged down 0.1% and the Nasdaq was off 0.7% before the opening bell. The indexes ended Tuesday trading higher following a three-day slump.Google parent Alphabet and electric vehicle manufacturer Tesla are scheduled to report their quarterly earnings after the markets close, along with Texas Instruments (TXN), IBM (IBM), ServiceNow (NOW) and CSX (CSX).Philip Morris International (PM), GE Vernova (GE), AT&T (T), Northern Trust (NTRS) and RPM International (RPM) are expected to post their results before the bell, among others.West Texas Intermediate crude oil gained 4.2% to $87.91 a barrel in premarket action, while Brent increased 4.1% to $94.76.The US Central Command said Tuesday its forces completed another round of strikes against Iran as part of attempts to degrade its ability to threaten commercial ships in the Strait of Hormuz.At the ASEAN foreign ministers' meeting in the Philippines on Wednesday, US Secretary of State Marco Rubio accused Iran of not being serious about peace talks with the US, CNBC reported.Rubio reportedly said a key sticking point in talks with Iran was Tehran's demand for the right to control traffic through the Strait of Hormuz, arguing that allowing any country to control an international waterway would set a dangerous precedent.Treasury yields were mixed before the open, with the two-year rate down 0.1 basis points to 4.26% while the 10-year rate inclined 0.2 basis points to 4.63%.In a social media post on Tuesday, President Donald Trump said the import of all generic drugs into the US will be subject to zero tariffs for a two-year period, effective Aug. 1. Tariffs on the drugs would then rise to 100% for one year before increasing to 200% thereafter, according to Trump."This is done in order to reshore generic pharmaceutical production into America, with a penalty to those companies that decide not to build plant and equipment within the stated period of time given to them," Trump said.Wednesday's economic calendar has the weekly mortgage applications bulletin at 7 am ET, followed by the weekly EIA domestic petroleum inventories report at 10:30 am.Shares of Super Micro Computer (SMCI) jumped 17% before the bell after the company said it received more than $60 billion in new orders during its fiscal fourth quarter and raised its gross margin outlook. Dell Technologies gained 4.6% after closing the previous session up 6%.Alaska Air (ALK) decreased 1.3% as the airline issued a downbeat third-quarter earnings outlook and swung to a second-quarter loss. Rocket Lab (RKLB) advanced 4.5%.Gold traded up 1.2% at $4,124 per troy ounce, while bitcoin was down 0.7% at $65,922.
Philip Morris International (PM) has an average rating of overweight and mean price target of $197.15, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)
(Updates with market moves at the end of the day.)Stocks on Wall Street ended Monday's choppy trade lower as markets awaited more earnings releases this week and kept an eye on developments in the Middle East.The Dow Jones Industrial Average fell 0.6% to 51,839.26, while the S&P 500 declined 0.2% to settle at 7,443.28. The Nasdaq Composite dipped 0.1% to 25,508.07. Most sectors were in the red, led by healthcare, while communication services saw the biggest gain.This week, 86 S&P 500 companies are scheduled to release their latest quarterly financial results, Oppenheimer Asset Management said in a note. Google parent Alphabet (GOOG, GOOGL) and electric vehicle maker Tesla (TSLA) -- which are two of the so-called Magnificent 7 stocks -- are slated to report Wednesday.Intel, Philip Morris International (PM), American Express (AXP), T-Mobile US (TMUS), IBM (IBM), AT&T (T) and Verizon Communications (VZ) are among other major names expected to report this week."The reporting calendar is shifting beyond the first wave of money-center banks toward large tech, industrial and consumer names," Tigress Financial said in a note Monday. "The narrative will increasingly focus on whether (artificial intelligence) platforms, cloud providers and key cyclicals can match the strong bank prints without sparking renewed worries about margins or demand."West Texas Intermediate crude oil was up 0.6% at $82.97 a barrel in Monday late-afternoon trade, while Brent rose 0.9% to $88.88.On Sunday, the US Central Command said it completed the ninth consecutive evening of strikes against Iran. The US confirmed the passing of at least three service members during recent fighting with Iran.President Donald Trump said Monday that "every time Iran kills an American soldier they will pay for that killing many times over."Iran could resume negotiations with the US based on national interests, CNBC reported, citing Tehran's foreign ministry spokesman Esmail Baghaei. US intermediaries had continued to exchange messages with Iran, Baghaei reportedly said."If this escalation goes unchecked, we could return to an environment of wide-scale attacks across the Persian Gulf," ING Bank said in a report Monday. "Vessel flows (in the Strait of Hormuz) have essentially ground to a halt."US Treasury yields were higher, with the 10-year rate up 5.5 basis points at 4.6% and the two-year rate rising 3.9 basis points to 4.21%.In company news, Magnolia Oil & Gas (MGY) agreed to acquire privately held WildFire Energy in a roughly $4.06 billion deal, including debt, that will give it a dominant position in the Giddings field in South Texas. Magnolia Oil shares slumped 6.4%.Gold edged down 0.2% to $4,010.30 per troy ounce, while silver advanced 0.5% to $56.62 per ounce.
US benchmark equity indexes were mostly higher intraday Monday as key chipmakers advanced, while traders awaited earnings of some major companies due later in the week.The Nasdaq Composite was up 0.4% at 25,633.1 after midday, while the S&P 500 rose 0.2% to 7,468.7. The Dow Jones Industrial Average fell 0.4% to 51,950.7. Most sectors were in the red, led by materials and consumer staples, while energy paced the gainers.Shares of chipmaking giant Intel (INTC) rose 3.8%, while Nvidia (NVDA), Micron Technology (MU) and Advanced Micro Devices (AMD) were also pointing higher.This week, 86 S&P 500 companies are scheduled to release their latest quarterly financial results, Oppenheimer Asset Management said in a note. Google parent Alphabet (GOOG, GOOGL) and electric vehicle maker Tesla (TSLA) -- which are two of the so-called Magnificent 7 stocks -- are slated to report Wednesday.Intel, Philip Morris International (PM), American Express (AXP), T-Mobile US (TMUS), IBM (IBM), AT&T (T) and Verizon Communications (VZ) are among other major names expected to report this week."The reporting calendar is shifting beyond the first wave of money-center banks toward large tech, industrial and consumer names," Tigress Financial said in a note Monday. "The narrative will increasingly focus on whether (artificial intelligence) platforms, cloud providers and key cyclicals can match the strong bank prints without sparking renewed worries about margins or demand."West Texas Intermediate crude oil was up 0.1% at $82.58 a barrel intraday, while Brent rose 0.5% to $88.55.Iran could resume negotiations with the US based on national interests, CNBC reported, citing Tehran's foreign ministry spokesman Esmail Baghaei. US intermediaries had continued to exchange messages with Iran, Baghaei reportedly said.Amid soaring tensions with Iran, the US is looking to send additional F-16 and F-35 fighter jets from bases in Europe, as well as additional aerial refueling tankers, to the Middle East, CNN reported, citing a US official.On Sunday, the US Central Command said it completed its ninth consecutive evening of strikes against Iran. The US military also confirmed the passing of three service members in the past few days."If this escalation goes unchecked, we could return to an environment of wide-scale attacks across the Persian Gulf," ING Bank said in a report Monday. "Vessel flows (in the Strait of Hormuz) have essentially ground to a halt."US Treasury yields were higher intraday, with the 10-year rate up 6.3 basis points at 4.6% and the two-year rate rising 5.5 basis points to 4.23%.In company news, Magnolia Oil & Gas (MGY) agreed to acquire privately held WildFire Energy in a roughly $4.06 billion deal, including debt, that will give it a dominant position in the Giddings field in South Texas. Magnolia Oil shares were down 5.7% intraday.Gold edged down 0.1% to $4,015.10 per troy ounce, while silver advanced 1.4% to $57.11 per ounce.
Quarterly results of an initial batch of S&P 500 companies show that earnings growth so far is tracking at more than double the expected pace, according to an Oppenheimer Asset Management report released Monday.Some 47 companies, or less than 10% of the large-cap index' constituents, have reported financial results in the current cycle, with earnings and revenue up around 52% and 16% year over year, respectively, the report showed.Ahead of the reporting season, FactSet put expected earnings growth at 23.6% from a year earlier, according to Oppenheimer."The (second-quarter) earnings season got off to a solid start last week," Oppenheimer Asset Management Chief Investment Strategist John Stoltzfus said, highlighting "outsized" results particularly among technology and financial companies.The technology sector so far led earnings growth among the 11 sectors, with results from five companies showing a nearly 243% surge in profits year over year, the report showed. The financial sector followed with a 38% increase.Technology also outshined in terms of revenue with a 67% jump so far, followed again by financials, which saw an increase of 18%.This week, 86 S&P 500 companies are scheduled to release their latest quarterly financials, according to Oppenheimer. Two of the so-called Magnificent 7 -- Alphabet (GOOG, GOOGL) and Tesla (TSLA) -- report after the markets close Wednesday.Also releasing their quarterly results this week are Intel (INTC), Philip Morris International (PM), RTX (RTX), T-Mobile US (TMUS), American Express (AXP), International Business Machines (IBM), AT&T (T), and NextEra Energy (NEE)."We continue to expect good results for S&P 500 earnings this reporting season as fundamentals remain in our view conducive to continued economic growth that should be supportive of revenue and earnings growth going forward," Stoltzfus said.Price: $356.94, Change: $+10.82, Percent Change: +3.13%
(Updates with economic data, recent oil price movement, world markets' overview and corporate stock movements.)US equity futures were higher pre-bell Monday as traders monitored the latest developments in the Middle East conflict and look forward to earnings from several tech giants this week.Dow Jones Industrial Average futures were 0.2% higher, S&P 500 futures were up 0.4%, and Nasdaq futures were 0.9% higher.US Central Command said in a post on X that it successfully completed a ninth consecutive evening of strikes against Iran in a continuing effort to diminish its ability to attack commercial vessels transiting the Strait of Hormuz.Despite the constant exchange of attacks between both sides, Iran's Foreign Ministry spokesman Esmail Baghaei said that negotiations with the US could be pursued based on national interests.Alphabet (GOOG, GOOGL), Tesla (TSLA), Intel (INTC), and Texas Instruments (TXN) are set to release their financial results this week. Anticipated earnings also include GE Vernova (GEV), Philip Morris International (PM), RTX (RTX),and American Express (AXP).Oil prices were higher, with front-month global benchmark North Sea Brent crude up 0.5% at $88.52 per barrel and US West Texas Intermediate crude 0.1% higher at $81.88 per barrel.June's leading indicators data is scheduled to be released 10 am ET.In other world markets, Hong Kong's Hang Seng ended 2.4% higher and China's Shanghai Composite finished 0.9% higher. Japan's Nikkei was closed due to a public holiday. Meanwhile, the UK's FTSE 100 was down 0.2%, and Germany's DAX index was 0.3% higher in Europe's early afternoon session.In equities, semiconductor stocks, including Micron Technology (MU), SK Hynix (SKHY), and AMD (AMD), were up in premarket activity. Micron Technology shares rose 4.8%, SK Hynix stock was up 5.3%, and AMD shares were 3.9% higher. Domino's Pizza (DPZ) stock was up 6.7% after the company reported higher fiscal Q2 earnings and revenue.On the losing side, Ryanair (RYAAY) stock was down 2.5% after the company posted fiscal Q1 earnings and revenue that missed analysts' consensus estimates.
US equity futures were higher pre-bell Monday as traders monitored the latest developments in the Middle East conflict and look forward to earnings from several tech giants this week.Dow Jones Industrial Average futures were 0.3% higher, S&P 500 futures were up 0.6%, and Nasdaq futures were 1.1% higher.US Central Command said in a post on X that it successfully completed a ninth consecutive evening of strikes against Iran in a continuing effort to diminish its ability to attack commercial vessels transiting the Strait of Hormuz.Despite the constant exchange of attacks between both sides, Iran's Foreign Ministry spokesman Esmail Baghaei said that negotiations with the US could be pursued based on national interests.Alphabet (GOOG, GOOGL), Tesla (TSLA), Intel (INTC), and Texas Instruments (TXN) are set to release their financial results this week. Anticipated earnings also include GE Vernova (GEV), Philip Morris International (PM), RTX (RTX),and American Express (AXP).Oil prices were lower, with front-month global benchmark North Sea Brent crude down 1.9% at $86.46 per barrel and US West Texas Intermediate crude 2.4% lower at $79.82 per barrel.June's leading indicators data is scheduled to be released 10 am ET.
The benchmark US stock measures were pointing higher before the opening bell Monday as investors await earnings from several major companies this week and monitor developments in the Middle East.The S&P 500 and the Dow Jones Industrial Average rose 0.3% each in premarket activity, while the Nasdaq added 0.6%. The indexes finished Friday's trading session lower.Alphabet (GOOG, GOOGL) and electric vehicle manufacturer Tesla (TSLA) are scheduled to release their quarterly earnings after the markets close Wednesday. Intel (INTC), Philip Morris International (PM), American Express (AXP), T-Mobile US (TMUS), International Business Machines (IBM), AT&T (T) and Verizon Communications (VZ) are also expected to post their results this week.Shares of Domino's Pizza (DPZ) spiked 7.1% pre-bell as the pizza restaurant chain reported better-than-expected fiscal second-quarter revenue. Alibaba's (BABA) US-listed stock rebounded 3.4% after closing Friday down 2.1%.West Texas Intermediate crude oil edged down 0.8% to $81.87 a barrel before the open, while Brent slipped 0.1% to $88.05.Iran's foreign ministry spokesman Esmail Baghaei said that Tehran could resume negotiations with the US based on national interests, CNBC reported. Baghaei told reporters that US intermediaries had continued to exchange messages with Iran.The US Central Command said Sunday its forces completed their ninth consecutive evening of strikes against Iran. In a separate statement, CENTCOM confirmed the passing of three US service members, while a missing fourth member's remains were found in Jordan."Energy and refined fuel flows through the Strait of Hormuz continues to slow amid the escalating conflict between the US and Iran," Saxo Bank said in a Friday report. "The renewed disruption has interrupted the recent recovery in regional supply, reviving concerns about tighter global markets."Treasury yields were trending upwards in premarket action, with the two-year rate increasing 1.5 basis points to 4.19% and the 10-year rate gaining 2.1 basis points to 4.56%.Consumer sentiment this month hit its highest level since February amid easing price pressures at the pump, though renewed tensions in the Middle East could weigh on confidence going forward, according to a survey released Friday by the University of Michigan.Gold nudged up 0.2% to $4,026 per troy ounce, while bitcoin decreased 0.3% to $64,234.
Consumer stocks were mixed late Tuesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) falling 1.2% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) increasing 0.2%.In sector news, Redbook US same-store sales rose by 10.5% from a year earlier in the week ended June 27 after a 10.0% year-over-year increase in the previous week. Redbook noted that there was an increase in demand for seasonal products such as air conditioners, fans, pool and beach equipment, swimwear, and other summer apparel.Separately, US retailers are placing China orders four to six weeks earlier than usual to build Black Friday and Christmas inventories ahead of potential US tariff hikes, Reuters reported, citing shipping executives. Frontloaded shipments have tightened container capacity on China-US routes, with spot rates from Shanghai to New york and Los Angeles rising week over week and year over year, maritime consultancy Drewry said.In corporate news, Allegiant Travel (ALGT) shares gained 2.8% after the company said it now expects Q2 adjusted earnings per share for the combined entity to be at least $1.25 following the acquisition of Sun Country Airlines, inclusive of Sun Country's results from May 13 through June 30.Patrick Industries (PATK) and LCI Industries (LCII) have entered into a definitive agreement to merge in an all-stock deal, the companies said Tuesday. Patrick Industries shares fell 3.1%, and LCI jumped past 6%.Philip Morris International (PM) shares were down 1.2% after it said Tuesday the US Food and Drug Administration issued Modified Risk Tobacco Product orders for 20 variants of ZYN nicotine pouch products.Paramount Skydance's (PSKY) proposed $110 billion takeover of Warner Bros. Discovery (WBD) might face regulatory intervention over media plurality concerns, British culture minister Lisa Nandy said Tuesday. Paramount shares were up 0.6%, and Warner fell 2%.
Consumer stocks were mixed Tuesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) falling 1% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) increasing 0.1%.In sector news, Redbook US same-store sales rose by 10.5% from a year earlier in the week ended June 27 after a 10.0% year-over-year increase in the previous week. Redbook noted that there was an increase in demand for seasonal products such as air conditioners, fans, pool and beach equipment, swimwear, and other summer apparel.Separately, US retailers are placing China orders four to six weeks earlier than usual to build Black Friday and Christmas inventories ahead of potential US tariff hikes, Reuters reported, citing shipping executives. Frontloaded shipments have tightened container capacity on China-US routes, with spot rates from Shanghai to New york and Los Angeles rising week over week and year over year, maritime consultancy Drewry said.In corporate news, Patrick Industries (PATK) and LCI Industries (LCII) have entered into a definitive agreement to merge in an all-stock deal, the companies said Tuesday. Patrick Industries shares fell past 5%, and LCI rose 4.5%.Philip Morris International (PM) shares were down 0.5% after it said Tuesday the US Food and Drug Administration issued Modified Risk Tobacco Product orders for 20 variants of ZYN nicotine pouch products.Ford (F) is recalling 741,195 US vehicles due to a transmission defect that may impair the park system, posing a risk of vehicles rolling away, Reuters reported, citing the US National Highway Traffic Safety Administration. Ford shares were shedding 0.8%.
Philip Morris International (PM) said Tuesday the US Food and Drug Administration issued Modified Risk Tobacco Product orders for 20 variants of ZYN nicotine pouch products.The company said the orders allow it to market the following claim: "Using ZYN instead of cigarettes puts you at a lower risk of mouth cancer, heart disease, lung cancer, stroke, emphysema, and chronic bronchitis."In January 2025, ZYN was the first nicotine pouch authorized for sale in the US, the firm said.Price: $180.22, Change: $-2.66, Percent Change: -1.45%
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