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Stocks were set for a mixed open as investors digest better-than-expected earnings reports, and the

Dow Jones Industrial Average

continues to rebound from Monday’s Covid-induced selling.

Futures on the Dow gained 82 points, or 0.3%, while

S&P 500

futures rose 0.1% and

Nasdaq Composite

futures declined 0.3%. 

After Monday’s selloff, investors bought the dip, sending stocks higher on Tuesday. That behavior continued into Wednesday. 

“Futures are modestly higher thanks to continued momentum from Tuesday’s rebound,” writes
Tom Essaye,
founder of Sevens Report Research. 

Strong earnings reports are also helping to lift stocks on Wednesday. With earnings season in full swing, the aggregate earnings beat from S&P 500 companies is by about 20%, according to Credit Suisse. 

Here are five stocks making moves in Wednesday’s premarket action:

Chipotle Mexican Grill

(ticker: CMG) stock rose 4.5% after reporting a profit of $7.46 a share, beating estimates for $6.52 a share, on sales of $1.89 billion, above expectations for $1.88 billion.  

Netflix

(NFLX) stock dropped 1% after reporting a profit of $2.97 a share, missing estimates of $3.16, on revenue of $7.34 billion, above expectations for $7.32 billion. 

Johnson & Johnson

(JNJ) stock rose 1% after reporting a profit of $2.48 a share, beating estimates of $2.27, on sales of $23.31 billion, above expectations for $22.21 billion. 

Coca-Cola

(KO) stock gained 2.3% after reporting a profit of 68 cents a share, beating estimates of 56 cents a share, on sales of $10.1 billion, above expectations for $9.3 billion. 

Halliburton

(HAL) stock gained 3% after getting upgraded to Buy from Neutral at Goldman Sachs.  

Write to Jacob Sonenshine at jacob.sonenshine@barrons.com

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