Stock futures were falling Friday following a selloff on Wall Street over worries about the U.S. banking system and ahead of the U.S. jobs report for February.
These stocks were poised to make moves Friday:
SVB Financial $(SIVB)$ was down 24.6% in premarket trading after plummeting more than 60% on Thursday. The tech-focused lender was forced to sell securities to realign its portfolio in response to higher interest rates while it manages lower deposit levels from clients, many of which are in the venture capital arena and burning through cash.
The troubles at SVB rippled across the banking sector. Banks both big and small tumbled: JPMorgan Chase $(JPM)$ was falling 1% in premarket trading after sliding 5.4% on Thursday; U.S. Bancorp $(USB)$ declined 0.6% after tumbling more than 7% on Thursday; $First Republic Bank(FRC-N)$ $(FRC)$ edged higher in premarket trading following a drop Thursday of 16.5%; Charles Schwab $(SCHW)$ traded flat after ending Thursday down 12.8%.
Software company Oracle $(ORCL)$ reported fiscal third-quarter revenue that missed analysts' estimates and the stock was falling 4.5% in premarket trading.
DocuSign $(DOCU)$, the electronic-signature software company, fell 6.9% in premarket trading even after swinging to a profit in the fourth quarter and posting better-than-expected revenue. DocuSign's guidance for the fiscal first quarter also was in line with expectations.
Gap $(GPS)$ was down 8.2% in premarket trading after the clothing retailer reported a fourth-quarter loss wider than a year earlier and sales of $4.2 billion that fell 6% and missed expectations.
Allbirds $(BIRD)$ was down 17.4% after reporting a fourth-quarter loss that widened from a year earlier and a revenue drop of 13%.
Ulta Beauty $(ULTA)$ was down 1.5%. The beauty-products retailer issued a fiscal-year forecast for earnings and sales that topped Wall Street estimates.