Dow futures trade flat, CrowdStrike lifts 5.5% after earnings

Published 03/07/2023, 07:36 PM
© Reuters.

By Oliver Gray - U.S. stock futures were little changed on Tuesday, after a negative session among major benchmark averages as investors retreated following Federal Reserve Chairman Jerome Powell's latest hawkish comments.

By 18:30 ET (23:30 GMT) Dow Jones futures, S&P 500 futures, and Nasdaq 100 futures were each trading within a range of 0.1%.

In extended deals, CrowdStrike Holdings (NASDAQ:CRWD) added 5.5% after the company reported Q4 EPS of $0.47 versus $0.43 on revenues of $637.4 million versus $624.77M expected. The company also forecasted Q1 2024 EPS of $0.50-$0.51 versus estimates of $0.43, with revenues in the range of $674.9M-$678.2M.

Stitch Fix (NASDAQ:SFIX) dipped 5.2% after reporting Q2 losses of $0.58 per share versus losses of $0.34 per share expected, with revenue coming in at $412.1 million versus $413.24 million expected.

Rigel Pharma (NASDAQ:RIGL) gained 19% after the company reported Q4 EPS of $0.01 versus expected losses of $0.09 per share, while revenue was reported at $51.3 million versus $36.52 million expected.

Arlo Technologies (NYSE:ARLO) lifted 10.6% after reporting Q4 losses of $0.04 per share versus expected losses of $0.10 per share, while revenue came in at $118.5 million versus $107.44 million expected.

Ahead in Wednesday's trade, market participants will be closely monitoring Powell's speech as well as ADP nonfarm employment, trade balance, JOLTs job openings, and the Fed's Beige Book.

In Tuesday's regular session, the Dow Jones Industrial Average lost 575 points or 1.7% to 32,856.5, the S&P 500 dipped 62.1 points or 1.5% to 3,986.4, and the Nasdaq Composite fell 145.4 points or 1.3% to 11,530.3.

On the bond markets, United States 10-Year rates were at 3.97%.


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