This morning, US futures were trading slightly lower, with some of the stocks that may grab investor focus today including Avis Budget Group, Inc. (NASDAQ: CAR), Marriott International, Inc. (NASDAQ: MAR), Arista Networks, Inc. (NYSE: ANET), The Coca-Cola Company (NYSE: KO), Kraft Heinz (NASDAQ: KHC), Roblox (NYSE: RBLX), Shopify (NYSE: SHOP), Applied Materials (NASDAQ: AMAT), DoorDash (NYSE: DASH) and Hasbro (NASDAQ: HAS).[0]
Avis Budget Group, Inc. reported better-than-expected results for its fourth quarter on Monday and its shares climbed 4.1% to $229.50 in the after-hours trading session.[0] Marriott International, Inc. is expected to have earned $1.89 per share on revenue of $5.47 billion for the latest quarter and its shares gained 0.3% to $174.88 in after-hours trading.[1] Arista Networks, Inc. reported upbeat results for its fourth quarter and issued strong Q1 sales forecast, and its shares gained 1.1% to $137.50 in the after-hours trading session.[0]
The Producer Price Index (PPI) of the Bureau of Labor Statistics for January is expected at 8.30 am ET, with the consensus at 0.4 percent.[2] The Core Producer Price Index (PPI), excluding food and fuel, is predicted to increase by 0.3% on a monthly basis and by 4.9% year-[3] The consumer price index for January is due out at 8:30 ET (13:30 GMT) and analysts expect the monthly reading to rise 1.8% from December after falling 1.1% the prior month.[1]
Meanwhile, Wall Street expects The Coca-Cola Company (NYSE: KO) to post quarterly earnings at $0.45 per share on revenue of $10.02 billion before the opening bell, while analysts expect Airbnb, Inc. (NASDAQ: ABNB) to post quarterly earnings at $0.25 per share on revenue of $1.86 billion after the closing bell.[1]
Stocks increased on Wednesday, despite the initial apprehension regarding interest rates, due to the higher-than-anticipated retail sales. Additionally, stocks rose on Monday as investors await the release of the consumer price index for January.
0. “Coca-Cola, Marriott International And 3 Stocks To Watch Heading Into Tuesday By Benzinga” Investing.com UK, 14 Feb. 2023, https://uk.investing.com/news/stock-market-news/cocacola-marriott-international-and-3-stocks-to-watch-heading-into-tuesday-2913629
1. “Consumer prices, Coca-Cola, Travel earnings: 3 things to watch By Investing.com” Investing.com, 13 Feb. 2023, https://www.investing.com/news/stock-market-news/consumer-prices-cocacola-travel-earnings-3-things-to-watch-3002096
2. “Wall Street Poised To Start Lower” RTTNews, 16 Feb. 2023, https://www.rttnews.com/3344652/wall-street-poised-to-start-lower.aspx
3. “5 things to know before the stock market opens Tuesday” CNBC, 14 Feb. 2023, https://www.cnbc.com/2023/02/14/5-things-to-know-before-the-stock-market-opens-tuesday-february-14.html