Stock futures were rising Friday following a tech selloff that sent the three major indexes significantly lower. Wall Street awaited the latest reading on the strength of the U.S. labor market.
These stocks were poised to make moves Friday:
Apple reported fiscal fourth-quarter earnings that beat analysts' estimates on record fourth-quarter revenue of $94.9 billion but issued weaker-than-expected guidance for the holiday quarter. iPhone revenue in the fourth quarter of $46.22 billion topped Wall Street estimates of $45.16 billion. Revenue in China of $15 billion was down slightly from a year earlier and below analysts' expectations. The stock fell 1.2% in premarket trading.
Amazon.com rose 5.5% after the tech and online retail giant reported third-quarter earnings that beat Wall Street estimates. Amazon posted earnings of $1.43 a share, topping forecasts of $1.14, while net sales of $158.9 billion beat expectations of $157.3 billion. Sales at Amazon Web Services cloud business rose 19% to $27.5 billion in the period. Capital spending rose significantly in the quarter to $22.6 billion from $12.5 billion a year earlier and is expected to keep rising as the company builds its artificial-intelligence services. Amazon said it expects fourth-quarter net sales of between $181.5 billion and $188.5 billion compared with estimates of $186.3 billion.
Intel rose 5.6% after the chip maker issued a better-than-expected fourth-quarter earnings forecast after third-quarter revenue fell 6% to $13.28 billion but topped estimates of $13.02 billion. Intel posted a net loss of $16.6 billion in the third quarter that included charges from the company's cost-reduction plan. Intel said it expects adjusted earnings of 12 cents a share in the fourth quarter, higher than Wall Street estimates of 8 cents, on revenue of between $13.3 billion and $14.3 billion.
Atlassian, the software company, jumped 20% in premarket trading following fiscal first-quarter earnings and revenue that were better than Wall Street forecasts. Revenue in the period jumped 21% to $1.19 billion, compared with expectations of about $1.16 billion.
U.S. Steel reported third-quarter earnings that beat analysts' expectations. The steel maker reported earnings before interest, taxes, depreciation, and amortization, or Ebitda, of $319 million on sales of $3.9 billion, down from year-earlier Ebitda of $593 million on sales of $4.4 billion. Earnings declined as a result of lower steel prices.
MasTec, the clean energy infrastructure company, raised its earnings outlook for the year after third-quarter earnings beat analysts' expectations.
Juniper Networks, which agreed in January to be acquired by Hewlett Packard Enterprise for about $14 billion, reported third-quarter adjusted earnings of 48 cents a share, beating estimates of 45 cents. "We saw particularly robust orders from our cloud customers during Q3 in support of front-end and back-end AI networking initiatives," said Chief Executive Rami Rahim. The stock was down 0.15%.
Exxon Mobil rose 0.4% ahead of the release of the oil major's third-quarter earnings report before the stock market opens Friday. Chevron also is scheduled to report third-quarter earnings on Friday. Chevron was up 0.5% in premarket trading.
