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Victor Jacobs
Nov 30, 2022 7:53PM ET
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Dow futures trade steady, Salesforce sheds 6.8% after earnings
© Reuters.
By Oliver Gray
Investing.com - U.S. stock futures were trading slightly higher during Wednesday’s evening deals, with major benchmark averages rallying during regular trade as market participants reacted positively as Fed Chair Jerome Powell flagged potentially less aggressive interest rate increases at December's meeting amid cooling inflation pressures.
By 6:36 PM ET (11:36 PM GMT) Dow Jones Futures were trading flat while S&P 500 Futures, Nasdaq 100 Futures were up 0.2% apiece.
In extended deals, Salesforce Inc (NYSE:CRM) fell 6.8% after the company reported Q3 EPS of $1.40 versus $1.22 expected on revenue of $7.84 billion versus $7.83B expected.
Snowflake Inc (NYSE:SNOW) shed 5.4%, reporting Q3 EPS of $0.11 versus $0.04 expected on revenue of $557M versus $539.07M expected.
Five Below (NASDAQ:FIVE) lifted 8.9% after reporting Q3 EPS of $0.29, above expectations of $0.14, while revenue was reported at $607.6M versus $610.46M expected.
Okta, Inc. (NASDAQ:OKTA) rallied 13%, reporting Q3 EPS of $0.00 versus expected losses of $0.24 per share, while revenue came in at $481M versus $465.42M expected.
PVH Corp. (NYSE:PVH) gained 9.5% as the company reported Q3 EPS of $2.60 versus $2.17 expected on revenue of $2.28B versus $2.23B expected.
Victoria's Secret & Co (NYSE:VSCO) fell 1.9% after reporting Q3 EPS of $0.29 versus $0.22 expected on revenue of $1.32B versus $1.32B expected.
G-III Apparel Group (NASDAQ:GIII) shed 21.5% after reporting Q3 EPS of $1.35 versus $1.81 expected, while revenue was reported at $1.08B versus $1.06B.
Ahead in Thursday’s session, investors will be looking toward initial jobless claims, nonfarm payrolls, unemployment data, personal income and personal consumption expenditure.
On the earnings front, companies including Dollar General Corporation (NYSE:DG), Kroger Company (NYSE:KR) and Ulta Beauty Inc (NASDAQ:ULTA) are set to release earnings results.
During Wednesday’s trade, the Dow Jones Industrial Average added 737.2 points or 2.2% to 34,589.8, S&P 500 added 122.5 points or 3.1% to 4,080.1 and the NASDAQ Composite gained 484.2 points or 4.4% to 11,468.
On the bond markets, United States 10-Year rates were at 3.611%.
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