U.S. stock index futures slid on Thursday after reports of clashes in eastern Ukraine kept investors on edge, while weekly jobless claims data was awaited for clues on a labor market recovery.
Market Snapshot
At 8 a.m. ET, Dow e-minis were down 72 points, or 0.21%, S&P 500 e-minis were down 12.5 points, or 0.28%, and Nasdaq 100 e-minis were down 52 points, or 0.36%.
Pre-Market Movers
Wal-Mart (WMT) – Walmart stock rose 2.9% in the premarket after the retail giant reported better-than-expected quarterly results. Walmart earned an adjusted $1.53 per share, 3 cents above estimates, issued an upbeat forecast, and announced a dividend hike.
AutoNation (AN) – The auto retailer earned an adjusted $5.76 per share for the fourth quarter, beating the consensus estimate of $4.96. Revenue was also above estimates, driven by a 55% surge in used vehicle sales. AutoNation shares jumped 3% in premarket trading.
DoorDash, Inc. (DASH) – DoorDash soared 24.1% in premarket trading after the food delivery service issued an upbeat outlook for the current quarter. Doordash reported a fourth-quarter loss but saw a 69% surge in revenue for 2021 even as restaurants reopened for dine-in service.
Cisco (CSCO) – Cisco beat estimates by 3 cents with adjusted quarterly earnings of 84 cents per share. The networking equipment and software maker also reported better-than-expected revenue and issued an upbeat full-year forecast as it sees particularly strong demand from cloud computing companies. Cisco rose 3.5% in the premarket.
NVIDIA Corp (NVDA) – Nvidia reported adjusted quarterly earnings of $1.32 per share, 10 cents above estimates. The graphics chip maker also reported better-than-expected revenue for the quarter and gave an upbeat outlook. However, the stock came under pressure on concerns about flat profit margins and its exposure to the cryptocurrency market. Nvidia was down 2.5% in premarket action.
Palantir Technologies Inc. (PLTR) – The software platform provider’s stock slid 11% in premarket trading after quarterly earnings fell short of forecasts. Palantir’s adjusted profit of 2 cents per share was half of what analysts predicted, although revenue exceeded forecasts.
TripAdvisor (TRIP) – Tripadvisor tumbled in the premarket after reporting an unexpected quarterly loss and revenue that fell short of analyst forecasts. The travel review site operator said it expects significant improvement in the travel market this year after what it called “unexpected periods of virus resurgence” in 2021. Shares tumbled 7.9% in premarket trading.
Fastly, Inc. (FSLY) – Fastly shares plummeted 31.9% in the premarket after the internet content delivery company gave lower-than-expected 2022 guidance. Fastly reported a narrower-than-expected fourth-quarter loss and revenue that came in above consensus estimates.
Hasbro (HAS) – Hasbro rallied 4% in premarket trading after activist investor Alta Fox Capital Management nominated five directors to the toy maker’s board. Alta Fox is pushing for Hasbro to spin off its fast-growing games unit.
Cheesecake Factory (CAKE) – The restaurant operator’s shares jumped 4% in the premarket even though earnings came in below forecasts. A revenue beat was negated by increased input costs, but Cheesecake Factory is planning a price hike in new menus now being printed and said it may lift prices further later this year.
Market News
Details about former U.S. President Donald Trump's new social media app are trickling out as about 500 beta testers have begun using an early version of “Truth Social,” two sources told Reuters.
Tower Semiconductor on Thursday reported a higher than expected rise in quarterly profit, days after Intel Corp said it planned to buy the Israeli chipmaker.
Fintech company Circle Internet Financial said on Thursday it was valued at $9 billion under new deal terms for its merger with blank-check firm Concord Acquisition Corp.
Israeli enterprise software provider Nice expects double-digit growth taking revenue above $2 billion for 2022, it said as it reported a higher than expected increase in quarterly net profit on Thursday.
The National Highway Traffic Safety Administration (NHTSA) said Thursday it is opening a formal investigation into 416,000 Tesla vehicles over reports of unexpected brake activation tied to its driver assistance system Autopilot.