Netflix, P&G, JNJ earnings on watch
Early signs from the U.S. stock futures suggest that Wall Street might open lower on Tuesday, in a session that is likely to be influenced by earnings from some major companies like Netflix (NASDAQ: NFLX), Johnson & Johnson (NYSE: JNJ), and Lockheed Martin (NYSE: LMT).
Abbott Laboratories (NYSE: ABT), Procter & Gamble (NYSE: PG), AutoNation (NYSE: AN), Philip Morris (NYSE: PM), Travelers (NYSE: TRV), Xerox (NYSE: XRX), Interactive Brokers (NASDAQ: IBKR), and Intuitive Surgical (NASDAQ: ISRG) are also scheduled to report today.
By 5:40 a.m. ET, Dow Jones futures pointed to loss of 117.5 points, or 0.35% to 33,840.5. S&P 500 futures gave away 12.88 points, or 0.31% to 4,142.62 while the tech-heavy Nasdaq 100 futures fell 30.87 points, or 0.22% to 13,866.38.
Eyes on Apple for AirTags and new iPads at Cupertino event
Apple (NASDAQ: AAPL) is on Tuesday expected to unveil two iPad Pro models at its “Spring Loaded” event that kicks off at 1:00 p.m. ET.
The iPhone maker has revealed little about the virtual event held from Cupertino, Calif. but analysts believe a spotlight will shine on the iPad line. Apple is also likely to announce new color versions of the iMac and its long-rumored Bluetooth tracking device called AirTags.
While most surveys indicate the iPad is still the biggest-selling tablet, its market share is being eroded by competitors using Google (NASDAQ: GOOG)’s Android OS.
Pot stocks rally as house approves cannabis banking bill
Cannabis stocks soared early Tuesday after the House of Representatives on Monday evening approved a bill that would make access to the U.S. banking system less onerous for companies dealing into marijuana, according to MarketWatch.
The cannabis banking bill passed on a 321-101 vote and will now be sent to the Senate. It would enable banks or credit unions to do business with “cannabis-related legitimate business” without fear of federal punishment.
UiPath hikes share price ahead of IPO
UiPath has increased the size and price of its shares ahead of its initial public offering on Wednesday.
In an S-1 filing on Monday, UiPath said it expects to sell the public 23.9 million Class A shares at a price of between $52 to $54 a share. The robotic process automation provider had previously planned to sell 21.3 million shares at a price range of $43 to $50.
UiPath to list its stock on the New York Stock Exchange under the symbol “PATH.” Traders expect its underwriters to reveal a final price for the shares later today, with the company likely to make its market debut tomorrow.