The session sees a flurry of quarterly results typical of late July, with names such as Starbucks, Kering and UPS. Tesla earned for the first time more than one billion dollars in a quarter. Amazon is interested in cryptocurrencies but denied it will soon accept bitcoin. Anger rises at Activision, where management is facing criticism in a sexism case.
Intelannounced Monday that its factories will begin producingQualcommchips and unveiled a roadmap to expand its foundry business to catch up with rivals like Taiwan Semiconductor Manufacturing and Samsung Electronics by 2025.
General Electricon Tuesday raised its free cash flow forecast to a range of $3.5 billion to $5 billion (from $2.5 billion to $4.5 billion previously) for this year on the back of a recovery in the aviation market that should boost demand for the U.S. conglomerate's engines and parts. The stock gained 3.7% in pre-market trading.
United Parcel Service(UPS) on Tuesday reported better-than-expected quarterly revenue and profit on increased shipments and distribution of healthcare products such as COVID-19 vaccines.
Centene- The health insurer reported a lower-than-expected second-quarter profit on Tuesday, due in part to higher medical costs.
Raytheon Technologieson Tuesday raised its full-year adjusted profit forecast on higher demand for its products and services amid a recovery in air travel. The stock is up 1.2 percent in premarket trading.