United States stock futures were little changed on Tuesday night (Wednesday AEST) after a tech-led rally pushed the S&P 500 and Nasdaq Composite to fresh record highs during the previous session.
By 9:45 am AEST (11:45 pm GMT) Dow futures, S&P 500 futures and Nasdaq 100 futures were each trading within a range of ±0.1%.
In extended trading, Zscaler plunged 20.4% after the cloud security company issued current-quarter revenue guidance of US$875 million to $878 million, below the $879 million expected by analysts, according to LSEG.
Despite the weak outlook, Zscaler reported stronger-than-expected results for the quarter, with earnings per share (EPS) of $1.08 versus $1.01 expected, and revenue of $850.48 million compared with $835.6 million forecast.
Semtech rose 6.2% after reporting first-quarter adjusted EPS of $0.51 versus $0.45 expected, on revenue of $291 million compared with $283.53 million expected.
Box slipped 2.1% after posting EPS of $0.37 versus $0.36 expected on revenue of $305.94 million versus $304.39 million expected. The company also guided full-year adjusted earnings of $1.56 per share, below analyst expectations of $1.63.
Insulet fell 5.8% after announcing a voluntary medical device correction affecting specific lots of its insulin delivery pods due to a manufacturing issue that could lead to under-delivery of insulin.
During the regular session, U.S. equities finished mixed as technology strength drove both the S&P 500 and Nasdaq to intraday and closing record highs.
The Dow Jones Industrial Average fell 118.0 points, or 0.2%, to 50,461.7. The S&P 500 gained 45.7 points, or 0.6%, to 7,519.1, while the Nasdaq Composite advanced 312.2 points, or 1.2%, to 26,656.2.
The rally was led by Micron Technology, which surged 19.3% and briefly pushed its market capitalisation above $1 trillion for the first time.
Geopolitical developments also influenced sentiment, with President Donald Trump saying talks with Iran were “proceeding nicely”, even as U.S. forces carried out “self defence” strikes in southern Iran earlier in the day.
Central Command spokesman Tim Hawkins said the U.S. showed “restraint during the ongoing ceasefire”, though Iran accused Washington of breaching the ceasefire agreement.
Looking ahead, investors will focus on Wednesday’s (Thursday AEST) earnings releases from Bank of Montreal, Bath & Body Works, Capri, Dick’s Sporting Goods, and Abercrombie & Fitch ahead of the opening bell.
