U.S. stock futures turned mostly lower in early morning trading Friday as investors digested a slew of corporate earnings reports and as the market awaited an important snapshot of the jobs picture.
Market Snapshot
At 07:50 a.m. ET, Dow e-minis were down 112 points, or 0.32%, S&P 500 e-minis were up 0.5 point, or 0.01%, and Nasdaq 100 e-minis were up 82 points, or 0.57%.
Snap Inc rose 44.9% to $35.50 in pre-market trading as the company reported upbeat results for its fourth quarter. Global daily active users totaled 319 million in the fourth quarter, representing a 20% year-over-year increase.
Bill.Com Holdings, Inc. shares rose 24.3% to $211.70 in pre-market trading after the company reported strong Q2 results and issued a strong forecast.
Maris Tech Ltd. rose 16.9% to $3.03 in pre-market trading after dropping 18% on Thursday. The company recently priced its IPO at $5.25 per share.
Pinterest, Inc. rose 13.4% to $27.80 in pre-market trading after the company posted reported better-than-expected results for its fourth quarter. Its global MAUs slipped 6% year-over-year.
Amazon.com rose 11.2% to $3,087.00 in pre-market trading after reporting better-than-expected quarterly earnings.
Unity Software Inc. shares rose 10.4% to $102.14 in pre-market trading after the company posted upbeat quarterly results and issued strong sales outlook.
Kaival Brands Innovations Group, Inc. shares fell 17.4% to $1.00 in pre-market trading. Kaival Brands Innovations shares jumped 92% on Thursday after the company announced the U.S. Court of Appeals for the Eleventh Circuit has granted a judicial stay of the marketing denial order previously issued by the FDA to Bidi Vapor in September 2021.
Ford shares fell 6.4% to $18.61 in pre-market trading after the company reported worse-than-expected Q4 EPS results.
Market News
Amazon.com said profits nearly doubled in the critical holiday period, as the company managed to control labor and supply costs better than expected and saw gains in its cloud-computing and advertising businesses.
Snap Inc reported quarterly revenue of $1.3 billion, which beat the $1.2 billion estimate. The company reported quarterly adjusted earnings of 22 cents per share, which more than doubled the estimate of 10 cents per share.
Unity Software Inc. reported a Q4 diluted non-GAAP net loss of $0.05 per share, compared with a loss of $0.10 a year earlier. Revenue for the quarter was $315.9 million, up from $220.3 million in the year-ago period. Analysts expected $295.7 million.
Pinterest, Inc. reported itsEPS of $0.49 came in better than the Street estimate of $0.46. Revenue grew 20% year-over-year to $847 million, above the consensus estimate of $827.43 million. Global Monthly Active Users (MAUs) decreased 6% year-over-year to 431 million in Q4.
Ford missed estimates by a wide margin, with profit reported Thursday of 26 cents a share well below the consensus of 45 cents.
Activision Blizzard reported an adjusted EPS of $1.01 in Q4, up from $0.76 a year earlier. Revenue fell to $2.16 billion from $2.41 billion a year ago. The Street estimated $2.83 billion.
Sanofi SA reported Q4 non-GAAP earnings Friday of 1.38 euros ($1.58) per share, compared with 1.22 euros a year ago.Net sales for the quarter ended Dec. 31 were 9.99 billion euros, compared with 9.38 billion euros. Analysts polled by Capital IQ expected 10.11 billion.
Bristol-Myers Squibb reported Q4 non-GAAP earnings Friday of $1.83 per share, up from $1.46 a year ago. Analysts surveyed by Capital IQ expected $1.80.