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.
Tilray (NASDAQ: TLRY) shares gained 3.73% to $18.09 in pre-market trading, while Aurora (NYSE: ACB) stock climbed 3.30% to $8.46 a share.
Aphria (NASDAQ: APHA) and OrganiGram (NASDAQ: OGI) ticked up 2.22% and 3.46%, respectively.
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.