Dow Futures Tick Lower, Meta Dips 4.5% After Earnings
By Oliver Gray
Investing.com - U.S. stock futures moved slightly lower in overnight trading after major benchmark averages lifted during Wednesday's session as Federal Reserve policymakers delivered a 75 basis point hike.
By 7:10pm ET (11:10pm GMT) Dow Jones Futures and S&P 500 Futures declined 0.1%, while Nasdaq 100 Futures were 0.4% lower.
In extended deals, Meta Platforms Inc (NASDAQ: META ) fell 4.5% after the company reported Q2 EPS of $2.46, below estimates of $2.56, while revenue came in at $28.82 billion versus $28.94 billion expected.
Ford Motor (NYSE: F ) gained 6.4% after reporting Q2 EPS of $0.68, beating analyst estimates of $0.45. Revenue was reported at $40.2 billion versus $37.05 billion expected.
Etsy (NASDAQ: ETSY ) gained 8.5% after reporting Q2 EPS of $0.51 versus $0.32 expected on revenues of $585.1 million versus $558.47 million expected.
Qualcomm (NASDAQ: QCOM ) fell 2.9% after reporting Q3 EPS of $2.96, slightly above estimates of $2.89, while revenue came in at $10.93 billion versus $10.87 billion expected.
Community Health Systems (NYSE: CYH ) tanked 47.8% after the company reported Q2 losses of $2.52 per share, well below estimated EPS of $0.07. Revenue for the quarter was reported at $2.93 billion versus $3.14 billion expected.
Ahead in Thursday’s session, investors will be monitoring earnings results from Apple Inc (NASDAQ: AAPL ), Amazon.com Inc (NASDAQ: AMZN ), Intel Corporation (NASDAQ: INTC ), and Comcast Corp (NASDAQ: CMCSA ), while the U.S. Q2 GDP reading will also be closely watched.
During Wednesday’s regular trading session, the Dow Jones Industrial Average gained 436.05 points or 1.4% to 32,197.6, the S&P 500 added 2.6% to 4,023.6, and the NASDAQ Composite closed 4.1% higher at 12,032.4.
In policy news, Federal Reserve officials hiked rates by 75 basis points, with Fed Chair Jerome Powell noting that he does not believe the economy has entered a recession.
On the bond markets, United States 10-Year rates were at 2.785%.
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