Dow Futures Tick Lower Ahead of Major Tech Earnings By


© Reuters.

By Oliver Gray – fell slightly during Monday evening after major benchmark averages finished higher at the end of regular trade as market participants look ahead to earnings reports from major technology companies.

By 6:38pm ET (10:38pm GMT) were down 0.1%, were flat and fell 0.15%.

Among stocks, Cadence Design Systems Inc (NASDAQ:) lifted 4.6% in after-hours trade following the company’s quarterly . Earnings per share came in at $1.17 versus $1.02 expected and revenue was at $901.77 million versus $770.84 million expected. The company also issued upbeat full year earnings and revenue guidance.

O-I Glass Inc (NYSE:) popped 10.6% after Q1 EPS of $0.56, beating expectations of $0.40 while revenue for the quarter came in at $1.69 billion versus $1.55 billion expected.

SBA Communications Corp (NASDAQ:) lifted 2.8% after quarterly results, with EPS coming in at $1.72 versus $1 expected, while revenues were at $619.7 million versus $603.51 million expected. The company also announced a repurchasing of 1.3 million shares.

Universal Health Services Inc (NYSE:) tanked 12.1% in extended deals after Q1 EPS of $2.15, below consensus of $2.46 while revenue came in at $3.29 billion versus $3.24 billion expected.

Ahead in the session, big tech earnings are set to kick off after the bell with Alphabet Inc (NASDAQ:) and Microsoft Corporation (NASDAQ:), while Meta Platforms Inc (NASDAQ:), Inc (NASDAQ:) and Apple Inc (NASDAQ:) are slated to report later in the week.

Among economic data, investors are expecting fresh numbers for and later in the session.

During Monday’s regular trade, the erased a 500-point intraday loss to close 238.06 points or 0.7% higher at 34,049.47. The added 24.34 points or 0.6% to 4,296.13 and the lifted 165.56 points or 1.3% to 13,004.85.

The moves came as major technology players rallied amid falling interest rates and ahead of an intense week of earnings for mega cap tech stocks. Twitter Inc (NYSE:) also jumped after its board accepted Tesla Inc (NASDAQ:) CEO Elon Musk’s offer to take it private.

On the bond markets, rates eased to 2.818%.


Leave a Comment