July 23 Premarket Briefing: 10 Things You Should Know
Here are 10 things you should know for Wednesday, July 23:
1. -- U.S. stock futures were rising slightly on Wednesday and global stocks advanced on the back of solid U.S. earnings and home sales.
European stocks rose while Asian shares ended the trading session mixed.
2. -- The economic calendar in the U.S. on Wednesday includes the MBA Mortgage Index for the week ended July 19 at 7 a.m. EDT.
3. -- U.S. stocks on Tuesday moved back into record-making territory on Tuesday as positive earnings overshadowed continued unease in Eastern Europe and the Middle East.
The Dow Jones Industrial Average closed up 0.36% to 17,113.54. The S&P 500 rose 0.5% to 1,983.53. The Nasdaq gained 0.71% to 4,456.02.
4. -- Apple's
Apple reported earnings of $7.7 billion, or $1.28 a share, for the quarter, up 12% from year-earlier earnings of $6.9 billion, or $1.07 a share. It's the first time that Apple's earnings have increased by more than 10% since the quarter that included the September 2012 release of the iPhone 5 -- the last time that the company boosted the device's screen size.
5. -- Activist investor Bill Ackman denounced weight loss and nutritional supplements company Herbalife
In his presentation, Ackman focused on Herbalife's "nutrition clubs," private settings where Herbalife distributors sell the company's products and recruit new members.
Ackman laid out a case that because the clubs run by Herbalife's distributors focus on recruiting instead of selling products, the clubs are by definition a pyramid scheme.
Herbalife has vigorously denied Ackman's arguments, and has said it operates like a multi-level marketing company similar to Avon, Amway and Mary Kay .
6. -- Aerospace giant Boeing
7. -- Microsoft
Excluding certain items, earnings were 66 cents per share, ahead of the 60 cents expected by analysts. Revenue rose 18% to $23.4 billion.
Microsoft CEO Satya Nadella said on the Tuesday that the next version of Windows will be unified across screens of all sizes and that two money-losing units -- Nokia phones and Bing search -- would become profitable in 2016.
8. -- Social networker Facebook