NEW YORK, Oct 21 (Reuters) - Coca-Cola Co and Chipotle Mexican Grill were among the most active names of Tuesday’s premarket session, with both stocks falling on heavy volume.
Chipotle lost 5.2 percent to $618.80 before the bell a day after the burrito chain reported another acceleration in quarterly restaurant sales growth but signaled that such momentum couldn’t last forever.
The stock has been a trading favorite this year, up about 23 percent in 2014, based on Monday’s closing price. That easily outpaces the S&P 500’s rise of about 3 percent.
Coca-Cola lost 3 percent to $41.97 after the Dow component said it expects to be below its long-term earnings growth outlook for the year, with currency exchange rates serving as a headwind.
Also moving on results was Verizon Communications Inc , which rose 0.7 percent to $48.80 after reporting revenue that was modestly above expectations.
The overall market was higher, with U.S. stock index futures pointing to a fourth straight session of gains. Technology shares were especially poised for outperformance following strong results from both Apple Inc and Texas Instruments Inc.
Apple rose 1.9 percent to $101.68 in heavy premarket trading a day after it reported revenue that topped expectations, helped by strong sales of its iPhone line. It also gave a strong outlook for the holiday quarter.
Chipmaker Texas Instruments also posted revenue that beat forecasts, easing concerns about weak industry demand following IBM’s results. The stock rose 2.5 percent to $45.50 before the bell.
Futures snapshot at 7:39:
* S&P 500 e-minis were up 12.25 points, or 0.64 percent, with 307,145 contracts changing hands.
* Nasdaq 100 e-minis were gaining 32 points, or 0.83 percent, in volume of 47,749 contracts.
* Dow e-minis were up 82 points, or 0.5 percent, with 41,064 contracts changing hands. (Editing by Lisa Von Ahn)