United States equity futures traded mixed on Tuesday night (Wednesday AEST) as investors digested a wave of corporate earnings that delivered both beats and misses across major sectors.
By 9:50 am AEST (11:50 pm GMT), Dow futures were flat, while S&P 500 futures edged down 0.1%, and Nasdaq 100 futures slipped around 0.2%.
In extended trading, Advanced Micro Devices (AMD) fell 6.1% after reporting adjusted earnings per share (EPS) of $0.48 for the second quarter, in line with market estimates, while revenue came in stronger at US$7.68 billion versus the $7.41 billion expected.
Rivian Automotive lost 4.6% after posting wider-than-anticipated adjusted losses per share of $0.80, compared to an expected $0.65 loss. Nonetheless, its revenue of $1.30 billion slightly exceeded the $1.29 billion forecast.
Lucid Group slid 8.3% as the company missed on both revenue and earnings for the second quarter. The electric vehicle manufacturer also trimmed its full-year production guidance to between 18,000 and 20,000 vehicles, down from a previous forecast of 20,000.
Snap tumbled 14.5% after the social media platform reported $1.34 billion for the second quarter, slightly below expectations of $1.35 billion.
Super Micro Computer dropped over 16.4% after posting adjusted EPS of $0.41 on $5.76 billion in revenue, both below estimates of $0.45 and $5.98 billion, respectively.
These after-hours moves followed a downbeat regular session on Wall Street. The S&P 500 marked its fifth loss in six days, while the Dow suffered its sixth drop in the past seven. The Nasdaq Composite fell nearly 0.7%, led by declines in tech shares.
Looking ahead, investors will turn their attention to earnings from Disney, Uber, and McDonald’s before Wednesday’s U.S. opening bell, followed by results from Airbnb, DoorDash, and Lyft after market close.
Market participants will also be closely monitoring speeches from Boston Fed President Susan Collins and San Francisco Fed President Mary Daly for potential policy clues.
