Stock Futures Rise After Monday Sell-Off; Coca-Cola, Pfizer Earnings In Focus

Dow Jones futures were poised to open higher by about 0.4% Tuesday. S&P 500 and Nasdaq 100 futures were indicated higher by around 0.5% after a rough session for the stock market Monday. Coca-Cola (KO) stock and General Electric (GE) stock made early headlines, while Wall Street awaits earnings from Facebook (FB) after the close.

After a strong open Monday that saw the Nasdaq composite rise 1.8% intraday, sellers started to come into the stock market at around 2 p.m. ET, knocking the Nasdaq to a loss of 1.6% by the close.

European stock indexes were mixed in afternoon trading Tuesday. London’s FTSE 100 eked a small gain, while Germany’s DAX and the Paris CAC-40 edged lower. In Asia, Japan’s Nikkei picked up close to 1.5%, while the Shanghai composite rose 1%. Hong Kong’s Hang Seng index diverged with a 0.9% decline.

Dow Jones Futures: Coca-Cola Rises

Shares of Coca-Cola led Dow Jones futures in the early going. Shares rose more than 1% after the company reported better-than-expected earnings and sales.

Dow component Pfizer (PFE), which had been showing support at its 50-day moving average, was lower by more than 2% after Q3 sales missed estimates. The drugmaker also lowered the top end of its full-year sales outlook.

In other stocks news today, General Electric edged higher after the company reported earnings and announced plans to cut its quarterly dividend to a a penny a share from 12 cents starting in 2019.

Akamai Technologies (AKAM) was an earnings winners, up 10% in premarket trading. Meanwhile, an earnings miss at Texas Roadhouse (TXRH) weighed on shares early Tuesday. WingStop (WING) also reported earnings late Monday.

FANG Stocks News

Shares of Facebook edged higher in premarket trading Tuesday ahead of its earnings report after the close.

For a good example of what institutional selling looks like in a stock, look new further than Facebook. Big investors dumped shares in March due to the Cambridge Analytica data-privacy scandal. The stock sold off again in July after the company reported Q2 earnings and warned of a slowdown in growth.

FANG stock Amazon.com (AMZN) remained under selling pressure after the company reported earnings last week and gave disappointing sales guidance. Amazon is working on its fifth straight weekly price decline. Over the past four weeks, shares are down 18%. Shares collapsed another 6% Monday and were down another 1% early Tuesday.

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