Cyber Monday Deal: Up to 60% off InvestingProCLAIM SALE

Dow futures trade lower as tech earnings disappoint, Apple sheds 2.8%

Published 02/02/2023, 06:48 PM
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By Oliver Gray 

Investing.com - U.S. stock futures were trading lower during Thursday's evening deals, after major benchmark averages finished mixed as investors grew cautious after a slew of mixed earnings reports.

By 18:35 ET (23:35 GMT) Dow Jones futures were down 0.2%, S&P 500 futures fell 0.6%, and Nasdaq 100 futures were down 1.2%.

In extended deals, Apple (NASDAQ:AAPL) shed 2.8% after the company reported Q1 EPS at $1.88 versus $1.94 expected, while revenues came in at $117.12 billion versus $121.88B expected.

Amazon (NASDAQ:AMZN) fell 4.2% after reporting EPS of $0.03 versus $0.17 expected on revenues of $149.2B versus $145.64B expected.

Alphabet (NASDAQ:GOOGL) shed 3.7% after reporting EPS of $1.05 versus $1.18 expected on revenues of $76.05B versus $76.07B expected.

Qualcomm (NASDAQ:QCOM) fell 2.5% after reported EPS of $2.37 versus $2.36 expected, on revenues of $9.46B versus $9.6B expected.

Starbucks (NASDAQ:SBUX) lost 2.2% after the company reported EPS of $0.75 versus $0.77 expected on revenues of $8.7B versus $8.78B expected.

Atlassian (NASDAQ:TEAM) shed 13.4% after the company reported EPS of $0.45 versus $0.43 expected, on revenues of $872.7 million compared to analysts’ estimates of $877.18M.

Ahead in Friday’s session, market participants will be closely monitoring average hourly earnings, nonfarm payrolls, and unemployment rate data as well as the ISM services PMI. On the earnings front, companies including Sanofi (NASDAQ:SNY), Cigna (NYSE:CI), and Honda Motor (NYSE:HMC) are set to report earnings results.

During Thursday’s regular trade, the Dow Jones Industrial Average fell 39 points or 0.1% to 34,054, the S&P 500 lifted 60.6 points or 1.5% to 4,179.8, and the Nasdaq Composite gained 384.5 points or 3.3% to 12,200.8.

On the bond markets, United States 10-Year rates were at 3.402%.

 
 
 

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