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Dow Futures Move Higher as Earnings Continue

Stock Markets Aug 02, 2022 07:18PM ET
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© Reuters.

By Oliver Gray

Investing.com - U.S. stock futures traded higher during Tuesday’s evening deals, after major benchmark averages declined for a second consecutive day amid growing geopolitical tensions between the U.S. and China amid House Speaker Nancy Pelosi’s visit to Taiwan, while further hawkish comments from regional Fed presidents also dampened risk sentiment.

By 7:10pm ET (11:10pm GMT) Dow Jones Futures were up 0.3%, S&P 500 Futures ticked 0.1%, while Nasdaq 100 Futures were little changed.

In extended deals, PayPal (NASDAQ:PYPL) popped 11.6% higher after reporting Q2 EPS of $0.93, beating estimates of $0.87 while revenues came in at $6.81 billion versus $6.77 billion expected.

Match Group (NASDAQ:MTCH) fell 21.9% after the company reported Q2 losses per share of $0.11, far worse than expected earnings of $0.57 per share. Revenue was reported at $794.51 million versus $804.33 million.

Advanced Micro Devices, Inc. (NASDAQ:AMD) lost 6% after reporting Q2 EPS of $1.05 versus $1.03 expected on revenues of $6.55 billion versus $6.53 billion expected.

SoFi Technologies Inc. (NASDAQ:SOFI) gained 8% after reporting Q2 losses per share of $0.12, beating expected losses per share of $0.14, while revenue came in at $356.09 million versus $340.87 million.

SolarEdge Technologies (NASDAQ:SEDG) dipped 12.7% after reporting Q2 EPS of $0.26, coming in slightly higher than $0.88 expected, while revenue was reported at $727.8 million versus $730.65 million.

Airbnb (NASDAQ:ABNB) moved 8.5% lower after the company reported Q2 EPS of $0.56, beating estimates of $0.45 on revenues of $2.1 billion, which were in line with expectations.

Starbucks (NASDAQ:SBUX) lifted 1.7% as the company reported Q3 EPS of $0.84, beating estimates of $0.77 while revenue came in at $8.15 billion versus $8.14 billion expected.

Ahead in Wednesday’s session, market participants will be paying close attention to the earnings results are expected from Moderna Inc (NASDAQ:MRNA), CVS Health Corp (NYSE:CVS), Regeneron Pharmaceuticals Inc (NASDAQ:REGN), and Under Armour Inc (NYSE:UA).

During Tuesday’s regular trading, the Dow Jones Industrial Average fell 402.2 points or 1.2% to 32,396.2, the S&P 500 lost 27.4 points or 0.7% to 4,091.19, and the NASDAQ Composite fell 20.2 points or 0.2% to 12,348.76.

On the bond markets, United States 10-Year rates were at 2.748%.

Dow Futures Move Higher as Earnings Continue
 

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Comments (3)
Rigoberto Moreno Lopez
Rigoberto Moreno Lopez Aug 03, 2022 10:09AM ET
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signos vitales de nuevo
Dave Jones
Dave Jones Aug 03, 2022 1:00AM ET
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moves higher as moves higher due to moving higher
germann muravchik
germann muravchik Aug 02, 2022 9:42PM ET
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lol. you really gonna write about every little pips.futures go higher 0.19%after a red day.
 
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