Stock futures were slightly lower Thursday after equities rose Wednesday. Investors will be monitoring key economic data in the day ahead that they hope will provide a clearer picture on the path of U.S. interest rates.
Market Snapshot
At 7:40 a.m. ET, Dow e-minis were down 47 points, or 0.14%, S&P 500 e-minis were down 10 points, or 0.24%, and Nasdaq 100 e-minis were down 37.75 points, or 0.3%.
Pre-Market Movers
Community Health Systems (ticker: CYH) reported fourth-quarter adjusted earnings that beat Wall Street estimates and the stock was surging more than 17.9% in premarket trading.
Twilio(TWLO) gained 16.4% after reporting a narrower-than-expected loss in the fourth quarter and revenue that topped estimates. The board of the text app developer platform also authorized the company to buy back $1 billion of stock.
Twilio announced Monday it was cutting 17% of its workforce.
Shares of Roku (ROKU) rose 12.9% after the streaming platform company posted a narrower-than-expected fourth-quarter loss and revenue that beat analysts’ estimates. Roku added a higher-than-expected 4.6 million new active accounts in the quarter.
Apple (AAPL) dipped 0.3% in premarket trading following a report from The Wall Street Journal that said the Justice Department has in recent months escalated its work on drafting a potential antitrust complaint against the iPhone maker. A report from Bloomberg, meanwhile, said Apple has pushed back the unveiling of its mixed-reality headset to June from April.
Cisco Systems(ticker: CSCO) was rising 3.1% in premarket trading after the networking equipment provider posted solid fiscal second-quarter earnings and revenue and sharply raised its outlook for the fiscal year.
RingCentral(RNG) issued revenue guidance for 2023 that missed Wall Street expectations. Shares of the cloud-based communications provider fell 11.7%.
Boston Beer(SAM) slumped 10.4% after the brewer of Samuel Adams posted a surprise loss in the fourth quarter.
Boston Beer said it expects earnings in 2023 of between $6 and $10 a share, below analysts’ expectations of $10.94.
Shopify(SHOP) declined 9.7% after the e-commerce software company issued softer-than-expected guidance for the first quarter.
Paramount Global(PARA) shares were down 5.5% after the media company posted adjusted fourth-quarter earnings that missed expectations.
Datadog(DDOG) was down 4.8% after the security software company issued fiscal 2023 adjusted earnings guidance that was below expectations.
Zillow (Z) rose 3.2% after the real-estate services company reported fourth-quarter earnings that beat estimates.
Albemarle(ALB) was up 2.3% after the lithium miner posted adjusted earnings for its fiscal first quarter that surpassed analysts’ expectations.
Hasbro(HAS) rose slightly in premarket trading after the toy maker posted worse-than-expected adjusted earnings for its fourth quarter.
Market News
Jumia Stock Jumped as Q4 Sales Increase 7% YoY
Jumia Technologies (NYSE:JMIA) reported $66.48 million in sales this quarter. This is a 7.14 percent increase over sales of $62.05 million the same period last year.
In the fourth quarter of 2022, operating loss decreased by 41% Y/Y, reaching $49.8M and Adjusted EBITDA loss decreased by 30% year-over-year, reaching $49.2M.
Hasbro 2023 Profit Forecast Disappoints As Toy Demand Drops Sharply
Hasbro Inc(HAS.O)forecast annual profit below Wall Street estimates on Thursday, slammed by a sharp decline in demand as more customers cut back spending on its toys and games amid rising prices.
Elevated freight and supply chain expenses have also crimped profits for the maker of Transformers toys and NERF blasters even though it took steps to cut costs through layoffs.
Founder of WallStreetBets, Which Helped Ignite Meme Stock Frenzy, Sues Reddit
WallStreetBets' founder is suing the site where it all began.
Jaime Rogozinski, creator of the community that sent untold numbers of individual investors piling into meme stocks two years ago, filed a lawsuit against Reddit. Mr. Rogozinski is accusing the social-media platform of breaching contract by ousting him from his role as a WallStreetBets moderator in 2020 and infringing on his right to trademark the WallStreetBets brand, among other complaints.
Tesla Sold Out Model Y in U.S. for This Quarter
Tesla has sold out the Model Y for the quarter in the United States with no more production builds until April, even though we are just halfway through the quarter.
With the significant price drops and the new $7,500 federal tax credit for electric vehicles, Tesla has seen a surge of orders in the United States.
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