Stock Market News

Dow Futures Move Higher Amid Big Tech Earnings

2022.04.27 02:01

Dow Futures Move Higher Amid Big Tech Earnings

By Oliver Gray 

Investing.com – Dow Futures moved slightly higher during Tuesday’s evening trade, after major benchmark averages closed sharply lower as investors remained cautious on the prospects of economic growth while monitoring Q1 corporate earnings reports.

By 6:35pm ET (10:35pm GMT) Dow Jones Futures lifted 0.2%, S&P 500 Futures gained 0.1% and Nasdaq 100 Futures added 0.2%.

Among reporting companies, Alphabet Inc (NASDAQ:GOOGL) dipped 2.2% in extended trading after reporting an earnings miss. The company reported earnings of $24.62 per share versus $25.91 expected and revenues of $68.01 billion versus $68.11 billion expected.

Microsoft Corporation (NASDAQ:MSFT) popped 5.9% in after-hours trade following earnings results that exceeded expectations, with EPS coming in $2.22, compared to $2.19 expected, while revenues came in at $49.36 billion versus $49.05 billion expected.

Visa Inc (NYSE:V) lifted 4.5% after posting an earnings beat on the top and bottom lines, with earnings of $1.79 per share coming in better than the consensus estimate of $1.65, while revenues came in at $7.2 billion, beating expectations of $6.83 billion. Visa also expects travel recovery will continue to boost growth.

Enphase Energy Inc (NASDAQ:ENPH) lifted 5.5% in extended trading after the company reported quarterly results. Enphase reported earnings of 79 cents per share, compared to expectations of 67 cents per share.

Meanwhile, Robinhood Markets Inc (NASDAQ:HOOD) lost 3.1% in after-hours trade as the company said it is cutting back on staff, according to a blog post from CEO Vlad Tenev.

Facebook parent Meta Platforms Inc (NASDAQ:FB) also dipped 2.2% after-hours ahead of its earnings report on Wednesday, while Apple Inc (NASDAQ:AAPL) and Amazon.com Inc (NASDAQ:AMZN) are slated to report on Thursday. Boeing Co (NYSE:BA), PayPal Holdings Inc (NASDAQ:PYPL) and Ford Motor Company (NYSE:F) are also reporting earnings on Wednesday.

During Tuesday’s regular trade, the Dow Jones Industrial Average shed 809.28 points, or 2.4%, to 33,240.18, the S&P 500 lost 2.8% to 4,175.20 and the tech-heavy NASDAQ Composite dropped 3.95% and to close at a 52-week low of 12,490.74.

Tesla Inc (NASDAQ:TSLA) was the biggest laggard on the Nasdaq Composite, falling 12.2% during the regular session. The shares also came under pressure as its CEO and founder Elon Musk, looked to close his proposed deal to buy Twitter Inc (NYSE:TWTR) for $44 billion. Chip stocks were also among the hardest hit, as NVIDIA Corporation (NASDAQ:NVDA) lost 5.6%, and Advanced Micro Devices Inc (NASDAQ:AMD) retreated 6.1%.

Financial players struggled as U.S. Treasury yields declined, with the benchmark 10-Year rate falling to 2.728%. JPMorgan Chase & Co (NYSE:JPM) dipped 3%, Citizens Financial Group Inc (NYSE:CFG) lost 4.1%, Bank of America Corp (NYSE:BAC) fell 2.3% and Morgan Stanley (NYSE:MS) shed 3.2%.

Source

Related Articles

Leave a Reply

Back to top button
bitcoin
Bitcoin (BTC) $ 84,275.58 0.05%
ethereum
Ethereum (ETH) $ 1,938.00 1.16%
tether
Tether (USDT) $ 1.00 0.00%
xrp
XRP (XRP) $ 2.40 0.85%
bnb
BNB (BNB) $ 619.59 4.87%
solana
Solana (SOL) $ 136.00 1.74%
usd-coin
USDC (USDC) $ 1.00 0.00%
cardano
Cardano (ADA) $ 0.744353 0.04%
dogecoin
Dogecoin (DOGE) $ 0.176531 2.24%
tron
TRON (TRX) $ 0.221452 0.28%
staked-ether
Lido Staked Ether (STETH) $ 1,936.74 1.25%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 84,084.53 0.02%
pi-network
Pi Network (PI) $ 1.49 0.92%
leo-token
LEO Token (LEO) $ 9.74 0.55%
chainlink
Chainlink (LINK) $ 13.98 1.21%
the-open-network
Toncoin (TON) $ 3.53 20.72%
stellar
Stellar (XLM) $ 0.274904 1.68%
wrapped-steth
Wrapped stETH (WSTETH) $ 2,319.48 1.18%
usds
USDS (USDS) $ 1.00 0.02%
hedera-hashgraph
Hedera (HBAR) $ 0.194201 1.26%
avalanche-2
Avalanche (AVAX) $ 19.24 3.47%
shiba-inu
Shiba Inu (SHIB) $ 0.000013 0.40%
sui
Sui (SUI) $ 2.36 0.83%
litecoin
Litecoin (LTC) $ 92.49 0.76%
bitcoin-cash
Bitcoin Cash (BCH) $ 341.41 2.71%
polkadot
Polkadot (DOT) $ 4.34 3.13%
mantra-dao
MANTRA (OM) $ 6.60 4.78%
ethena-usde
Ethena USDe (USDE) $ 1.00 0.00%
weth
WETH (WETH) $ 1,937.56 1.16%
bitget-token
Bitget Token (BGB) $ 4.48 1.60%
binance-bridged-usdt-bnb-smart-chain
Binance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 1.00 0.17%
hyperliquid
Hyperliquid (HYPE) $ 14.15 2.12%
whitebit
WhiteBIT Coin (WBT) $ 28.87 1.39%
wrapped-eeth
Wrapped eETH (WEETH) $ 2,058.54 1.06%
monero
Monero (XMR) $ 213.13 1.17%
uniswap
Uniswap (UNI) $ 6.26 3.40%
susds
sUSDS (SUSDS) $ 1.04 0.06%
aptos
Aptos (APT) $ 5.36 2.64%
dai
Dai (DAI) $ 0.999903 0.01%
near
NEAR Protocol (NEAR) $ 2.63 0.34%
pepe
Pepe (PEPE) $ 0.000007 0.72%
internet-computer
Internet Computer (ICP) $ 5.84 3.04%
okb
OKB (OKB) $ 46.52 0.27%
ondo-finance
Ondo (ONDO) $ 0.875532 0.09%
ethereum-classic
Ethereum Classic (ETC) $ 17.99 0.46%
mantle
Mantle (MNT) $ 0.792093 7.78%
gatechain-token
Gate (GT) $ 21.57 1.61%
aave
Aave (AAVE) $ 173.17 0.83%
coinbase-wrapped-btc
Coinbase Wrapped BTC (CBBTC) $ 84,345.60 0.04%
official-trump
Official Trump (TRUMP) $ 12.11 1.47%