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Netflix Profits, Chipotle, United Airlines: 3 Things to Watch

Stock MarketsJul 19, 2021 03:39PM ET
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By Dhirendra Tripathi -- Worries about a surge in cases linked to the super-contagious Delta variant of coronavirus sent stocks on their worst ride since last October, with the three major indexes plunging.

Though earnings season got off to a good start last week, it wasn’t enough to quiet investor fears about a possible interruption to the economic rebound, as Covid cases spike in the United States to levels not seen since mid-May, and hospitalizations and deaths are also rising.

Though many of the newest cases are being associated with areas of the country where vaccination rates are low, there are still concerns that even fully vaccinated people can contract or spread the virus. 

The professional association of pediatric doctors on Monday recommended U.S. school children wear masks in school this fall, regardless of vaccine status, contradicting some of the guidance by the Centers for Disease Control and Prevention.

Adding to Monday’s angst was a bullish agreement by members of the international oil cartel, which managed to put aside its differences over the weekend and agree to add oil production starting next month and building through next year until all the production cuts put in place during the pandemic are reversed.

Oil prices, which had been rising this year, tumbled more than 7% on Monday, though some expect they will eventually rebound if demand isn’t dented by a surge in Covid cases shutting businesses down again.

Earnings season continues this week. Here are three things that could affect markets tomorrow:

1. Streaming giant

Netflix Inc (NASDAQ:NFLX) is expected to report second-quarter earnings per share of $3.18 on $7.32 billion revenue, according to analysts tracked by At-home streaming and entertainment was a clear winner of the pandemic’s stay at home lifestyle, but analysts will be listening to hear Netflix’s outlook for the rest of this year.

2. Burrito profits

Chipotle Mexican Grill Inc (NYSE:CMG) is seen posting EPS of $6.50 on revenue of $1.88 billion in the second quarter. The popular burrito chain spent the pandemic building new ways to reach hungry customers, including digital sales and drive-thru lanes. Now that people are returning to restaurants themselves, analysts expect to see strong growth across all channels.

3. Good news, bad news

United Airlines Holdings Inc (NASDAQ:UAL) is expected to clock a per-share loss of $4.21 on $5.25 billion in second-quarter revenue. A surge in travel demand this spring is now threatened by rising Covid cases around the world, sending shares of airlines down on Monday along with other travel related stocks.


Netflix Profits, Chipotle, United Airlines: 3 Things to Watch

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