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Dow futures dip, Pinterest down 6% after earnings

Published 02/08/2024, 07:50 PM
Updated 02/08/2024, 07:50 PM
© Reuters.

Investing.com - US stock futures experienced a slight decline on Thursday evening, following the S&P 500's near-miss of the historic 5,000 mark during intraday trading, propelled by a robust earnings season, moderating inflation figures, and resilient economic data.

By 6:25 pm ET (11:25 pm GMT) Dow Jones Futures, S&P 500 Futures and Nasdaq 100 Futures were each down by 0.1% apiece.

In extended deals, Pinterest Inc (NYSE:PINS) shed 9% after the company reported EPS of $0.53 versus $0.51 expected on revenues of $981.3 million versus $990.18 million expected.

Motorola Solutions Inc (NYSE:MSI) lost 2.6% after reporting EPS of $3.9 versus $3.64 expected on revenues of $2.85 billion versus $2.82 billion expected.

DexCom Inc (NASDAQ:DXCM) lost 1.7% after the company reported EPS of $0.5 versus $0.43 expected, while revenues came in at $1.03 billion versus $1.02 billion expected.

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Shares of Pinterest fell by 6% in extended trading following the company's weaker-than-expected forecast and revenue shortfall for the most recent quarter. However, the stock managed to recover some of its losses after the company's CEO announced a new app deal with Google (NASDAQ:GOOGL).

The S&P 500 is up by 0.8% this week, poised for its fifth consecutive weekly increase. The Dow Jones Industrial Average and the NASDAQ Composite have also seen gains of 0.2% and 1.1% this week, respectively, also set for a five-week winning streak.

PepsiCo Inc (NASDAQ:PEP) is slated to report its earnings before the market opens on Friday.

On the bond markets, United States 10-Year rates were at 4.155%.

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