Dow Futures Rise Amid Robust Earnings, Netflix Pops 7.4%
Posted On July 20, 2022
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© Reuters Dow Futures Rise Amid Robust Earnings, Netflix Pops 7.4%
By Oliver Gray
Investing.com – Dow futures were trading higher during Tuesday’s evening deals, following a strong session for major indices as robust earnings drove sentiment.
By 7:10pm ET (11:10pm GMT) Dow Jones Futures were up by 0.1%, while S&P 500 Futures gained 0.2% and Nasdaq 100 Futures lifted 0.4%
In extended deals, Netflix Inc (NASDAQ:NFLX) surged 7.4% after reporting earnings results, with Q2 EPS coming in at $3.2 versus $2.96 expected while revenues were at $7.97 billion versus $8.03 billion expected. The company noted that it had lost 970,000 subscribers in the second quarter, better than the 2 million it had previously projected.
Interactive Brokers Group Inc (NASDAQ:IBKR) moved 1.8% lower after reporting Q2 EPS of $0.84 versus $0.91 expected, while revenues came in at $656 million versus $736.3 million expected.
Omnicom Group Inc (NYSE:OMC) added after reporting Q2 EPS of $1.46 versus $1.57 expected on revenues of 5.57 billion versus 3.48 billion expected.
Ahead in the session, market participants will be bracing for a continued deluge of corporate earnings reports, with Tesla Inc (NASDAQ:TSLA), United Airlines Holdings Inc (NASDAQ:UAL), American Airlines Group (NASDAQ:AAL), Snap Inc (NYSE:SNAP), Twitter Inc (NYSE:TWTR) and Verizon Communications Inc (NYSE:VZ) are scheduled to report in coming days.
During Tuesday’s session, the Dow Jones Industrial Average futures rose 754.4 points or 2.4% to 31,827.1, the S&P 500 gained 105.8 points or 2.8% to 3,936.7 and the NASDAQ Composite climbed 353.1 points or 3.1% to 11,713.2.
Major financial companies outperformed amid rising yields and robust earnings from Goldman Sachs Group Inc (NYSE:GS), Citizens Financial Group Inc (NYSE:CFG) and Bank of America Corp (NYSE:BAC).
Halliburton Company (NYSE:HAL) added 2.1% as sharply rising oil prices this year helped to boost profits.
Hasbro Inc (NASDAQ:HAS) added 0.7% after reporting better than expected earnings, while revenue came in below expectations.
Johnson&Johnson (NYSE:JNJ) shares declined about 1.5% after the company cut its full-year revenue and profit guidance while reporting better-than-expected top and bottom line results.
On the bond markets United States 10-Year yields were at 3.028%.