Dow futures Rise, Tesla up 4% After Earnings
2022.04.21 01:56
By Oliver Gray
Investing.com – Dow futures were trading higher on Wednesday evening, after major benchmark averages finished the regular session mixed as investors evaluated a slew of first-quarter corporate results.
By 6:35pm ET (10:35pm GMT) Dow Jones Futures were up 0.2%, S&P 500 Futures gained 0.3% and Nasdaq 100 Futures lifted 0.5%.
Among stocks, Tesla Inc (NASDAQ:TSLA) gained 4.4% in extended deals following a better-than-expected earnings report, posting earnings of $3.22 per share versus $2.26 expected while revenues came in at $18.76 billion versus $17.8 billion expected.
United Airlines Holdings Inc (NASDAQ:UAL) gained 7.5% after issuing its strongest second-quarter guidance in history, despite first-quarter results missing estimates. United reported an adjusted first-quarter loss of $4.24 per share on revenue of $7.57 billion, while analysts surveyed by Refinitiv expected a loss per share of $4.22 on revenue of $7.68 billion.
Lam Research Corp (NASDAQ:LRCX) dipped 1.3% in extended trading after a weaker than expected quarterly report, with EPS coming in at $7.4 versus $7.51 expected, while revenues were at $4.06 billion versus $4.25 billion expected.
Coming up, market participants are looking toward quarterly reports from AT&T Inc (NYSE:T), American Airlines Group (NASDAQ:AAL) and Snap Inc (NYSE:SNAP), while weekly jobless claims data is also slated for release later in the session.
During Wednesday’s regular trade, The Dow Jones Industrial Average was up 249.59 points or 0.7% to 35,160.79. The S&P 500 finished little changed at 4,459.45 and the NASDAQ Composite fell 1.2% to 13,453.07.
Netflix Inc (NASDAQ:NFLX) tanked 35% on Wednesday after the streamer reported earnings Tuesday evening, revealing the first subscriber loss in more than 10 years.
Meanwhile, Procter & Gamble Company (NYSE:PG) gained 2.7% after reporting better-than-expected results and hiking its full-year revenue guidance.
International Business Machines (NYSE:IBM) also rose more than 7.1% after reporting a beat on earnings and revenue.
On the bond markets, United States 10-Year yields eased below recent 40-month highs to 2.832%.
