Dow futures lift, Paypal dips 6.8% after earnings

Investing.com – U.S. stock futures were trading higher during Wednesday’s evening deals, following a negative session among major benchmark indices as Fitch’s recent long-term credit downgrade of the United States soured sentiment.

By 7:15pm ET (11:15pm GMT) and were up 0.2% while ticked 0.1% higher.

In extended deals, PayPal (NASDAQ:) lost 6.8% after the company Q2 EPS of $1.16 versus $1.15 expected, while revenues were reported at $7.29B versus estimates of $7.27B. PayPal also forecasted Q3 2023 EPS in the range of $1.22-$1.24 versus $1.22 expected and revenues of $7.4 billion versus $7.32 billion expected.

Upwork Inc. (NASDAQ:) popped 19.4%, Q2 EPS of $0.10 versus $0.00 expected. while quarterly revenue came in at $168.61 million versus $162.53 million expected.

DoorDash Inc (NYSE:) added 4.9% after Q2 losses of $0.44 per share versus expected losses of $0.41 per share. Revenue was reported at $2.13 billion versus $2.06 billion.

Qualcomm (NASDAQ:) dropped 7.1%, Q3 EPS of $1.87 versus $1.81 expected, with revenue reported at $8.44 billion versus $8.51 billion expected. Qualcomm forecasted Q4 2023 EPS in the range of $1.80-$2.00 versus $1.91 expcted, while revenues are expected in the range of $8.1-8.9 billion versus $8.7 billion expected.

Etsy (NASDAQ:) lost 6.1% after the company Q2 EPS of $0.45 versus $0.42 expected. Revenues came in at $628.9 million versus $618.62 million expected.

Ahead in Thursday’s trade, investors will be closely monitoring , preliminarly as well as the and services PMIs.

On the earnings front, major companies reporting quarterly results include Apple Inc (NASDAQ:), Amazon.com Inc (NASDAQ:), ConocoPhillips (NYSE:), Airbnb Inc (NASDAQ:), and Booking Holdings Inc (NASDAQ:).

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During Wednesday’s regular session, the dipped 348.2 points or 1% to 35,282.5, the slipped 63.3 points or 1.4% to 4,513.4 and the lost 310.5 points or 2.2% to 13,973.5.

Among data releases, data came in well above expectations at 324K, while falling from the previous month’s reading of 455K.

On the bond markets, rates were at 4.088%.