Earnings reporters Apple, Visa are the only Dow stocks rising premarket
Shares of earnings reporters Apple Inc.
AAPL,
and Visa Inc.
V,
are the only two of the Dow Jones Industrial Average’s
DJIA,
30 components that are gaining ground in the premarket, while those of fellow earnings reporters Caterpillar Inc.
CAT,
and Chevron Corp.
CVX,
were among the bigger Dow losers. Combined, the earnings reporters were providing about 14-point support to the Dow’s price, while Dow futures
YM00,
tumbled 323 points, or 1.0%. Visa’s stock rose 3.5% after the credit card company reported late Thursday record quarterly revenue, and Apple’s stock climbed 2.4% after also setting sales records. Visa’s stock would add about 48 points to the Dow while Apple’s would add 25 points. Meanwhile, Chevron’s stock sank 4.0% to pace the Dow’s lowers after a big earnings miss, while Caterpillar’s stock shed 1.7% after a big profit beat but reported costs that surged above forecasts. Chevron was shaving 35 points off the Dow’s price while Caterpillar was a 24-point drag.
