Updated to include a number of earnings reports
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Here are five things you must know for Thursday, July 27:
1. -- U.S. stock futures were pointing to gains on Wall Street after Facebook Inc. (FB) - Get Meta Platforms Inc. Class A Report shares jumped and investors on Thursday, July 27, looked push the major stock indexes to further records.
Stocks in the U.S. notched new records with modest gains on Wednesday, July 26, after the Federal Reserve tiptoed the line between hawk and dove.
The S&P 500 added 0.03% to 2,477 on Wednesday, the Dow Jones Industrial Average gained 0.45% to 21,711, and the Nasdaq climbed 0.16% to 6,422. The S&P 500 and Nasdaq were at records for their second day in a row.
The Fed on Wednesday left interest rates unchanged and said it would implement changes to its balance sheet "relatively soon" provided the economy expands as expected. Previous language in the Fed's statement had said those changes would come this year.
The economic calendar in the U.S. on Thursday includes Durable Goods Orders for June at 8:30 a.m. ET, International Trade in Goods for June at 8:30 a.m., and weekly Jobless Claims at 8:30 a.m.
2. -- Facebook shares rose 4.5% in premarket trading on Thursday after the social media giant reported second-quarter earnings and sales that topped Wall Street expectations.
Facebook earned $1.32 a share in the quarter, surpassing estimates of $1.12. Revenue was $9.32 billion, which exceeded Wall Street estimates of $9.2 billion.
Advertising revenue jumped 47% from a year earlier to $9.16 billion, easily beating projections of $9.02 billion. Mobile ad revenue made up 87% of Facebook's total ad revenue during the second quarter, up from 84% a year earlier.
The company reported 1.32 billion daily active users during the quarter and said it had just more than 2 billion monthly active users for the first time ever, which was more than analysts expected.
"Overall, we view this as a great quarter for Facebook," said Cramer and the AAP team. "The company continues to over-deliver on the lofty expectations set by investors, even with the company continuing to spend to grow in scale."
3. -- Comcast Corp. (CMCSA) - Get Comcast Corporation Class A Report reported second-quarter adjusted earnings of 52 cents a share, topping analysts' forecasts by 4 cents. Revenue rose 9.8% to $21.17 billion and also beat forecasts.
Comcast shares rose 0.6% in premarket trading.
Verizon Communications Inc. (VZ) - Get Verizon Communications Inc. Report posted second-quarter adjusted profit of 96 cents a share, matching estimates, but revenue topped forecasts as the telco giant gained customers in the second quarter.
Earnings reports are also expected Thursday from Amazon.com Inc. (AMZN) - Get Amazon.com, Inc. Report , Twitter Inc. (TWTR) - Get Twitter, Inc. Report , Starbucks Corp. (SBUX) - Get Starbucks Corporation Report , Intel Corp. (INTC) - Get Intel Corporation Report , Dunkin' Brands (DNKN) - Get Dunkin' Brands Group, Inc. Report , Electronic Arts Inc. (EA) - Get Electronic Arts Inc. Report , United Parcel Service Inc. (UPS) - Get United Parcel Service, Inc. Class B Report , Western Digital Corp. (WDC) - Get Western Digital Corporation Report , Mattel Inc. (MAT) - Get Mattel, Inc. Report , MasterCard Inc. (MA) - Get Mastercard Incorporated Class A Report , Southwest Airlines Co. (LUV) - Get Southwest Airlines Co. Report , Fiat Chrysler Automobiles NV (FCAU) - Get Stellantis N.V. Report , Charter Communications Inc. (CHTR) - Get Charter Communications, Inc. Class A Report , Sirius XM Holdings Inc. (SIRI) - Get Sirius XM Holdings, Inc. Report , ConocoPhillips (COP) - Get ConocoPhillips Report , Dow Chemical Co. (DOW) - Get Dow, Inc. Report , Bristol-Myers Squibb Co. (BMY) - Get Bristol-Myers Squibb Company Report and Celgene Corp. (CELG) - Get Celgene Corporation Report .
Western Digital, Southwest Airlines, Starbucks, Comcast and Dow Chemical are holdings in Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio. Want to be alerted before Cramer buys or sells WDC, LUV, SBUX, CMCA or DOW? Learn more now.
More of What's Trending on TheStreet:
- Ford's Most Popular Pickup Truck Turns 100 Years Old on Thursday - Here's a Look Back
- AstraZeneca Shares Crash the Most on Record After Key Cancer Drug Fails
- Facebook Just Gave a Glimpse Into One of Its Biggest New Businesses
- Apple's iPhone 8 Is Coming, and It Could Be in Your Hands Very Soon
4. -- Royal Dutch Shell undefined , Europe's largest oil company by value, posted second-quarter adjusted earnings of $3.6 billion, beating analysts' expectations of about $3.5 billion following a strong performance by the company's chemicals and refining operations.
Net profit climbed to $1.55 billion, up 31% from $1.17 billion in the same quarter last year. Free cash flow in the second quarter climbed to $12.2 billion, reversing the year-earlier loss of $3.2 billion.
"Cash generation has been resilient over four consecutive quarters, at an average oil price of just under $50 per barrel," CEO Ben van Beurden said in a statement. "This quarter, we generated robust earnings excluding identified items of $3.6 billion, while over the past 12 months cash flow from operations of $38 billion has covered our cash dividend and reduced gearing to 25%."
American depositary receipts of Shell were rising 1.9% in premarket trading on Thursday.
5. -- Discovery Communications Inc. (DISCA) - Get Discovery, Inc. Class A Report is in the lead to acquire U.S. cable TV network owner Scripps Networks Interactive Inc. (SNI) in a deal likely valued at more than $12 billion, Reuters reported.
The acquisition would bring together Scripps' HGTV, Travel Channel and Food Network and Discovery's Animal Planet and Discovery Channel.
Discovery has entered into exclusive talks with Scripps after prevailing over a rival offer from Viacom Inc. (VIAB) - Get Viacom Inc. Class B Report .
The Wall Street Journal reported late Wednesday that Viacom dropped out of the running to acquire Scripps.
More of What's Trending on TheStreet:
- Procter & Gamble Trounces Profit Estimates, Sticks It to Activist Investor
- Ford Let Us Drive Its Tough New Pickup Truck and We Couldn't Believe the Rip Your Face Off Power
- The Fed Hints at Pausing Interest Rate Hikes, and That's a Good Thing: Market Recon
- Old Dogs Are Learning New Tricks: Cramer's 'Mad Money' Recap (Wednesday 7/26/17)