Stock futures were trading higher Friday as Wall Street awaited the release Friday of the U.S. jobs report, and pored over earnings from tech giants Apple and Amazon. com.
These stocks were poised to make moves Friday:
Apple reported fiscal third-quarter earnings that topped analysts’ expectations while revenue of $81.8 billion matched consensus but fell from nearly $83 billion a year earlier. Apple’s iPhone business recorded revenue of $39.7 billion, down from $40.7 billion a year earlier and below analysts’ forecasts. Chief Financial Officer Luca Maestri said he expects revenue in the current fiscal fourth quarter ending in September to be similar to the 1% decline in the three months ended in June, which would be slightly worse than Wall Street expectations. Apple shares fell 1.9% in premarket trading.
Second-quarter earnings and sales from Amazon.com were better than expected and guidance for the third quarter topped Wall Street estimates. In the second quarter, Amazon posted revenue of $134.4 billion, up from $121.2 billion in the year-earlier quarter. Earnings were 65 cents a share, a rebound from a year-earlier loss of 20 cents. The company’s Amazon Web Services business had better-than-expected growth in the second quarter. AWS sales were $22.1 billion, up 12% from a year earlier, and above Wall Street estimates. The stock jumped 8.3% in premarket trading.
Coinbase Global Inc., the largest US cryptocurrency exchange, said its second-quarter loss narrowed and revenue exceeded estimates. The net loss for the little more than a decade-old-firm narrowed to $97 million, or 42 cents a share, from a record $1.1 billion, or $4.98, a year earlier. Revenue declined 12% to $707.9 million, higher than the $631.2 million consensus estimate of analysts surveyed by Bloomberg. Quarterly transaction revenue fell to $327.1 million. Shares of Coinbase were up 1.69% in premarket trading.
Software firm Cloudflare raised its annual revenue and profit forecasts after delivering better-than-expected results for the second quarter on Thursday, sending its shares up over 9% in premarket trading.
Booking Holdings reported earnings that beat analysts’ estimates and forecast a record summer travel season. Adjusted earnings were $37.62 a share, higher than Wall Street estimates of $28.98. Sales of $5.46 billion topped estimates of $5.17 billion. Shares of Booking, which owns travel services sites like Booking.com, Priceline, Agoda, Kayak, Rentalcars.com, and OpenTable stock, was rising 12% in premarket trading.
Block was falling 4.3%. The payments company raised its guidance for the year but the stock declined after indicating that gross profit growth slowed to 21% in July.
Atlassian soared 23% after the provider of software development and project management tools issued a forecast for fiscal first-quarter sales that was above analysts’ expectations. Atlassian anticipates first-quarter sales of $950 million to $970 million, higher than forecasts of $954 million.
DraftKings rallied 15% after the online sports betting app reported a surprise adjusted profit in the second quarter and boosted its full-year sales forecast.
Opendoor Technologies declined 11% and Redfin (RDFN) was down 10% after the real estate companies issued revenue guidance well below Wall Street expectations.
Earnings reports are expected Friday from LyondellBasell Industries (LYB), Cinemark (CNK), Nikola (NKLA), and Fisker (FSR).
