Dow Futures Tick Higher, Novavax Sheds 33.6% After Earnings
2022.08.09 02:26
By Oliver Gray
Investing.com – U.S. stock futures were slightly higher during Monday’s evening deals, after major benchmark averages finished mixed during regular trading as market participants parsed a fresh deluge of corporate earnings reports ahead of key inflation data due on Wednesday.
By 7:10pm ET (11:10pm GMT) Dow Jones Futures and S&P 500 Futures were trading 0.2% higher while Nasdaq 100 Futures lifted 0.3%.
In extended deals, Novavax (NASDAQ:NVAX) shed 33.6% as the company reported Q2 losses of $6.53 per share, well below expected EPS of $5.50. Revenue came in at $185.93 billion versus $1.02 billion expected.
Allbirds Inc (NASDAQ:BIRD). dipped 12.7% after reporting Q2 losses per share of $0.12, slightly beating expected losses of $0.16 per share. Revenue came in at $78.2 million versus $77.8 million expected.
Take-Two Interactive Software Inc (NASDAQ:TTWO) fell 3.2% after the video game company reported losses of $0.76 per share versus EPS of $0.86, while revenue came in at $1.1 billion in versus $1.09 billion expected.
Upstart Holdings Inc (NASDAQ:UPST) fell 13.5% after the company reported Q2 EPS of $0.01, below $0.04 expected, while revenue came in at of $228.16 million versus $241.63 million.
Lemonade Inc (NYSE:LMND) lifted 14.1% after reporting Q2 losses of $1.10 per share, beating expected losses of $1.33, while revenue came in at $50 million versus $47.56 million expected.
CarGurus (NASDAQ:CARG) lost 16.2% after reporting Q2 EPS of $0.32 versus $0.31 expected on revenues of $511.23 million versus $507.32 million expected.
Among data releases, investors are looking towards Wednesday’s consumer price index print in order to gauge the pace of upcoming interest rate hikes from U.S. Federal Reserve policymakers.
During Monday’s regular trading, the Dow Jones Industrial Average gained 29.07 points or 0.1% to 32,8326, the S&P 500 slipped 0.1% to 4,140.5 and the NASDAQ Composite ticked down 0.1% to 12,644.5.
On the bond markets, United States 10-Year rates were at 2.75%.
