Coca-cola gained 4.7% after it raised its forecast for 2019 due to a demand for its zero-sugar soda, while Hasbro (NASDAQ:HAS) jumped 6.5% after its earnings beat forecasts due to higher demand for Avengers action toys.
United Technologies (NYSE:UTX) rose 1.7% after it raised its full-year guidance for organic sales and earnings per share, noting the recently acquiired Rockwell "continues to exceed expectations."
Biogen (NASDAQ:BIIB) surged 5.9% after the biotechnology company posted a 72% rise in quarterly profit and also lifted its earnings forecast for the year.
"Analysts notoriously underestimate how well these companies will do, and part of it is that companies intentionally lowball the analysts so that they can beat their estimates," said Randy Frederick, vice president of trading and derivatives for Charles Schwab (NYSE:SCHW) in Austin, Texas.
Elsewhere, Lockheed Martin (NYSE:LMT) dipped 1.1% despite posting a 22% rise in profit. Semiconductor company Micron (NASDAQ:MU) fell 0.4%, while AT&T (NYSE:T) slipped 0.9% and Visa (NYSE:V) inched down 0.4%, ahead of its report later Tuesday.
In commodities, crude oil rose 0.2% to $56.30 a barrel while gold futures inched down 0.1% to $1,425.05 a troy ounce. The U.S. dollar index, which measures the greenback against a basket of six major currencies, jumped 0.4% to 97.363.
-Reuters contributed to this report
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