📈 Stock Market Today: Stocks higher in spite of disappointing data
Here's what is happening in the markets today, Thursday, July 29th:
- Jobless Claims come in higher than expected at 400,000 claims (vs. 382,000 forecast. And Advance GDP shows 6.5% increase vs. 8.5% expectation.
- Robinhood (HOOD) is in the spotlight with its IPO this morning at $38.
- Comcast (CMCSA) up 1.9% pre-market after an earnings beat and better rev. $0.84EPS vs. $0.67est, the company said the quarter was helped out by a rebound in ad sales and the reopening of theme parks.
- Merck (MRK) is down 1.8% pre-market after reporting earnings in-line with estimates and a rev beat.
- Facebook (FB) dropped 3.7% pre-market in spite of better than expected earnings ($3.61EPS vs. $3.03est) and better rev. The company had the fastest sales growth since 2016 but said growth will slow over the next few quarters.
- Yum Brands (YUM) is up over 2.0% pre-market after an earnings and rev beat. Reporting $1.16EPS vs $0.96est, the quarter was helped by restaurant reopening and strong online orders (KFC, Taco Bell, Pizza Hut).
- Ford (F) up 4.0% pre-market after a surprise earnings win. Reporting $0.13EPS vs an expected loss of $0.03. Chip shortages have been an issue but Ford expects this situation to improve and raised its outlook for the year.
Qualcomm (QCOM) - up 3.0% pre-market after $1.92EPS vs. $1.68est. The chip market gave an upbeat forecast saying that they expect supply chain issues to get better.
- iRobot (IRBT) down 11.0%+ pre-market after reporting an earnings loss and cutting its outlook for the year. The company said it has been hurt by the worldwide chip shortage and this will continue to impact its ability to fulfill orders this year.
- Robinhood (HOOD) is in the spotlight with its IPO this morning at $38.
- Comcast (CMCSA) up 1.9% pre-market after an earnings beat and better rev. $0.84EPS vs. $0.67est, the company said the quarter was helped out by a rebound in ad sales and the reopening of theme parks.
- Merck (MRK) is down 1.8% pre-market after reporting earnings in-line with estimates and a rev beat.
- Facebook (FB) dropped 3.7% pre-market in spite of better than expected earnings ($3.61EPS vs. $3.03est) and better rev. The company had the fastest sales growth since 2016 but said growth will slow over the next few quarters.
- Yum Brands (YUM) is up over 2.0% pre-market after an earnings and rev beat. Reporting $1.16EPS vs $0.96est, the quarter was helped by restaurant reopening and strong online orders (KFC, Taco Bell, Pizza Hut).
- Ford (F) up 4.0% pre-market after a surprise earnings win. Reporting $0.13EPS vs an expected loss of $0.03. Chip shortages have been an issue but Ford expects this situation to improve and raised its outlook for the year.
Qualcomm (QCOM) - up 3.0% pre-market after $1.92EPS vs. $1.68est. The chip market gave an upbeat forecast saying that they expect supply chain issues to get better.
- iRobot (IRBT) down 11.0%+ pre-market after reporting an earnings loss and cutting its outlook for the year. The company said it has been hurt by the worldwide chip shortage and this will continue to impact its ability to fulfill orders this year.