Stock futures are slipping after some major post-market earnings reports Thursday afternoon pointed to risks from supply logjams and difficulty finding workers. Here’s what we’re watching ahead of Friday’s opening bell.
- Amazon and Apple both slipped premarket, by 4.8% and 3.5% respectively. The tech giants reported quarterly results that showed how supply-chain problems and tight labor markets are tripping up even some of the biggest business winners of the pandemic era.
- Lucid Group shares jumped 7.6% premarket, after having closed Thursday’s regular session up 31%. The electric-vehicle maker earlier this week said that deliveries of its first “dream edition” Lucid Air electric luxury sedans will begin on Saturday.
- MicroVision shares plunged 18% ahead of the bell. The laser beam scanning technology developer reported a quarterly loss after Thursday’s close.
- Chevron added 1.7% after the energy company beat forecasts for both profit and revenue during the recent quarter.
- Results are due from Colgate-Palmolive , Exxon Mobil , AbbVie and Royal Caribbean before the open.
- Starbucks shares dipped 4.9% premarket. The coffee chain said its U.S. sales were strong during its most recent quarter, though the pandemic’s resurgence in China dragged on its revenue.
- Zendesk plummeted 20% premarket. The customer-service platform is buying the parent company of SurveyMonkey, an online questionnaire platform, in a stock deal valued at $4.13 billion.
- Facebook is getting a makeover—to its name at least. The social-media behemoth changed its name to Meta to reflect its aspirations in the metaverse. Its ticker will become MVRS, but for now, the old one, FB, nudged up 0.6%.
- U.S.-traded shares of Atlassian jumped 8.3% premarket. The Australian software maker reported quarterly revenue of $614 million, up from $459.5 million in the year-ago quarter.
Chart of the Day
- Investors are betting the worst is over for Chinese e-commerce giant Alibaba after a punishing selloff halved its market value, but they may have to wait a while for the former market darling to regain its glory.
Write to James Willhite at [email protected]
