Better Earnings Ignite Bullish Sentiment

Video: Preview the day’s action on Wall Street before the opening bell with the Morning Report as Better Earnings Ignite Bullish Sentiment. Dow futures are up 0.75% while Nasdaq and S&P futures are up 0.25%.  Crude is flat on the morning.

Dow, S&P 500 aim at first back-to-back gains of April
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Here are some Morning Headlines:

U.S. stock futures were higher this morning after the Dow, S&P 500, and Nasdaq on Monday logged their biggest gains since March 1. The Nasdaq closed at a record high and about 16 points away from 6,000. (CNBC)

Dow components 3M (MMM), DuPont (DD), Caterpillar (CAT), Coca-Cola (KO), and McDonald’s (MCD) report earnings this morning. The afternoon after the bell list features AT&T (T), Chipotle (CMG), Texas Instruments (TXN). (CNBC)

Trump has instructed his advisors to make reducing the U.S. corporate tax rate from 35 percent to 15 percent a centerpiece of his tax-cut blueprint to be unveiled tomorrow. The House GOP plan calls for a corporate rate of 20 percent. (NY Times)

Saudi Aramco may not be worth $2 trillion. Even accounting for a more favorable tax rate, the highest valuation that employees were able to come up with was about $1.5 trillion. (WSJ)

T-Mobile (TMUS) CEO John Legere told CNBC he would be open to growing his business through a merger. The wireless carrier added more subscribers than analysts had anticipated. (CNBC)

Apple (AAPL) has hired former NASA employees, robotics experts, and ex-Tesla staffers to form part of its driverless car teams, according to official documents released to two media outlets.

Earnings Calendar

Here is this week’s earnings calendar provided by Earnings Whispers as Better Earnings Ignite Bullish Sentiment.

Better Earnings Ignite Bullish Sentiment

The following are snapshots of companies reporting earnings this morning.

DuPont — DuPont reported adjusted quarterly profit of $1.64 per share, beating estimates of $1.39 a share. The chemical maker saw revenue beat forecasts, as well, on increases in both volume and pricing. The company still expects its planned merger with Dow Chemical to be completed In August.

Caterpillar — Caterpillar reported adjusted profit of $1.28 per share, more than doubling estimates of 62 cents a share. Revenue also smashed estimates and the heavy equipment maker also raised its full-year forecast as some of its key markets recover.

3M — The maker of Scotch Tape and Post-It Notes beat estimates by 10 cents a share, with quarterly profit of $2.16 per share. Revenue also beat forecasts. 3M saw renewed strength in its Latin American and Asia.

Coca-Cola — The beverage giant fell a penny a share short of expectations, with adjusted quarterly profit of 43 cents per share. Revenue exceeded Wall Street forecasts. Coke’s results were impacted in part by higher costs related to refranchising of North American bottling operations.

McDonald’s – EPS: $1.47, versus $1.33 expected by Thompson Reuters estimates
Revenue: $5.68 billion, versus $5.53 billion expected by Thomson Reuters
Domestic same-store sales growth up 1.7 percent, versus expected decline of 0.8 percent

Information Credit: News headlines and quotes were taken from CNBC in the writing of this post.

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