U.S. stock index futures climbed on rose early Friday as Wall Street awaited new inflation data due Friday morning. Investors will watch for June data for the personal consumption expenditures price index
Market Snapshot
At 07:50 a.m. ET, Dow e-minis were up 111 points, or 0.31%, S&P 500 e-minis were up 24.25 points, or 0.53%, and Nasdaq 100 e-minis were up 147 points, or 0.94%.
Pre-Market Movers
Intel - Stocks gained over 7% in premarket trading. It reported a surprise second-quarter profit and issued a revenue forecast for the third quarter that was better than expectations. Chief Financial Officer David Zinsner told that Intel will benefit from the rising interest in artificial intelligence applications.
Roku Inc - Stocks jumped 9.2% in premarket trading after reporting a narrower-than-expected loss and issuing better-than-expected third-quarter guidance.
Reata Pharmaceuticals - Stocks surged over 15% in premarket trading. Biogen agrees to acquire it for $172.50 per share in cash, reflecting an enterprise value of $7.3B.
Silicon Motion Technology, MaxLinear - They jumped over 6% and 1% separately in premarket trading. MaxLinear has announced that it has exercised its contractual rights to terminate its May 5, 2022 merger agreement with Silicon Motion. But Silicon Motion has responded by saying that termination is invalid and intends to enforce it.
Tupperware - Stocks jumped over 6% and surged nearly 250% this week. The cost to borrow its stock is up 500% this week. On July 21, the fee tallied in at 12.70%, which is higher than normal but not excessive. On Thursday, the CTB fee is 75.49%, marking a rise of 494%.
XPeng Inc. - Stocks jumped over 6% in premarket trading and soared over 45% this week. Volkswagen AG plans to invest $700 million in it and jointly develop electric vehicles in China as the German automaker fights to halt a sales slide in its most important market.
Exxon Mobil - Stocks slid over 1% in premarket trading. It reported Q2 adjusted earnings of $3.08 per diluted share, down from $5.82 a year earlier. Revenue for the quarter ended June 30 was $48.90 billion compared with $68.76 billion a year earlier.
Enphase Energy - Stocks tumbled over 15% in premarket trading. It expects revenue between $550 million and $600 million for the quarter ending Sept. 30, and revenue fell 2.1% sequentially to $711.1 million, with a 12% drop in the U.S. market partly cushioned by a 25% increase in Europe.
Market News
Intel swung to a quarterly profit after two quarters of record losses, boosted by a turnaround in the personal-computer market. The $1.5 billion profit defied analysts' expectations of another loss. It came after the $2.76 billion shortfall that Intel reported the previous quarter, the worst ever recorded for the storied chip maker.
GameStop said its finance chief Diana Saadeh-Jajeh will resign on Aug 11, marking the second high-profile exit in two months. The company's board had in June ousted its fifth CEO in five years, leading some analysts to question whether billionaire investor Ryan Cohen, who is now executive chairman, can turn around GameStop.
A federal lawsuit claims that AMC Entertainment illegally shared customers' information with Facebook. The lawsuit claims that the movie-theater chain and meme-stock darling illegally shared personally identifiable information with Facebook each time the plaintiffs bought a ticket on the AMC website.
T-Mobile US added 760,000 postpaid phone subscribers - its highest second-quarter additions in eight years. Second-quarter revenue fell 2.6%, to $19.20 billion, slightly missing estimates of $19.31 billion, according to Refinitiv data.
Lucid Group Inc says its ultrahigh-performance EV, the Lucid Air Sapphire, will be available soon. With over 1,200 horsepower, the Sapphire can keep up with the best, even topping Tesla’s Model S Plaid.
Block named Neha Narula to its board, the fintech known for its Square payment system and Cash App said Thursday, bringing it expertise in digital currencies.
Roku Inc expects $815 million in net revenue in the July-September period, net revenue grew 11 percent to $847.2 million, while adjusted loss came in at 76 cents per share. The company said it added 1.9 million "active accounts" from the previous quarter to 73.5 million.
Ford delivered healthy profits for the second quarter and raised its profit outlook for the full year, the latest sign that the car business continues to defy Wall Street's gloomy forecasts heading into the year.
Comments