United States stock futures ticked higher on Tuesday night (Wednesday AEDT), as investors looked to stabilise after another volatile trading session that saw all three major indexes finish in the red.
By 10:30 am AEDT (11:30 pm GMT) Dow futures 0.2%, S&P 500 futures were flat, and Nasdaq 100 futures 0.2%.
In extended trading, AMD fell 3.8% after Amazon disclosed in a securities filing that it had dissolved its stake in the chipmaker during the third quarter.
The semiconductor giant, however, delivered better-than-expected quarterly results, posting adjusted earnings per share (EPS) of $1.20 on revenue of $9.25 billion. Markets had expected earnings of $1.17 per share on $8.76 billion in revenue.
Pinterest plunged 20.2% after reporting weaker-than-expected third-quarter results. The image-sharing platform reported adjusted EPS of $0.38 versus $0.42 expected, while revenue was in line with expectations at $1.05 billion.
Super Micro Computer dropped 9% after missing expectations for both revenue and earnings, while also issuing disappointing guidance.
The AI server manufacturer reported adjusted EPS $0.35 on $5.02 billion in revenue, compared with expectations of $0.37 on $5.083 billion.
Rivian Automotive bucked the trend, rising 3.4% after posting a smaller-than-expected loss. The EV maker reported an adjusted loss of $0.66 on revenue of $1.56 billion, compared with a projected loss of $0.72 on $1.51 billion in revenue.
Arista Networks plunged 11.3% after issuing softer fourth-quarter revenue guidance, despite posting better-than-expected Q3 results.
The networking equipment firm projected revenue of $2.3 billion to $2.4 billion, with the low end missing estimates of $2.33 billion.
Live Nation shares retreated 5.2% after the entertainment company’s third-quarter EPS came in at $0.73 versus $1.32 expected, while revenue came in below expectations at $8.5 billion, compared to the $8.57 billion forecast.
The declines followed a weak session on Wall Street, where the S&P 500 fell 1.2%, the Nasdaq Composite slid 2%, and the Dow Jones Industrial Average dropped 251 points, or 0.5%.
The sell-off was led by AI-focused stocks such as Palantir, which plunged 7.9% despite beating earnings expectations, as concerns about stretched valuations weighed on sentiment.
On the economic front, investors are awaiting several key data releases this week for signals on the broader outlook.
Wednesday will bring the ADP private payrolls report, weekly mortgage application data, and ISM services figures.
Meanwhile, McDonald’s is set to report earnings before the market opens on Wednesday, continuing a busy earnings season for U.S. corporates.
