Dow Futures Trade Higher, Meta Plunges 19% After Earnings

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Dow Futures Trade Higher, Meta Plunges 19% After Earnings
Credit: © Reuters.

By Oliver Gray 

Investing.com - U.S. stock futures were trading in a mixed fashion during Wednesday’s evening deals, after both the S&P 500 and NASDAQ Composite snapped 3 session win streaks as disappointing earnings from major tech companies soured risk appetite.

By 19:10 ET (23:10 GMT) Dow Jones Futures were up 0.5%, S&P 500 Futures gained 0.4%, and Nasdaq 100 Futures were up 0.3%.

In extended deals, Meta Platforms Inc (NASDAQ: META ) tanked 19% after the company reported Q3 EPS of $1.64, below analyst estimates of $1.93, while revenue was reported at $27.71 billion versus $27.57 billion expected. Looking forward, Meta Platforms forecasted revenue of $30 billion-32.5 billion for Q4 2022, versus $32.3 billion expected.

NETGEAR Inc (NASDAQ: NTGR ) fell 8.9% after reporting Q3 EPS of $0.21 versus $0.08 expected, while revenue was reported at $249.6 million versus $244.55 million expected.

Align Technology Inc (NASDAQ: ALGN ) dipped 18.8% after reporting Q3 EPS of $1.36, below estimates of $2.18, while revenue came in at $890.3 million versus $973.03 million expected.

Teladoc Inc (NYSE: TDOC ) lifted 9.3% after the company reported Q3 losses of $0.45 per share, better than expected losses of $0.57 per share. Revenue was reported at $611.4 million versus $608.76 million expected.

Ahead in Thursday’s session, investors will be looking ahead to fresh GDP , jobless claims , and durable goods data as well as further earnings results from companies including Amazon.com Inc (NASDAQ: AMZN ), Intel Corporation (NASDAQ: INTC ), and McDonald’s Corporation (NYSE: MCD ).

During Wednesday’s regular session, the Dow Jones Industrial Average added just 2.4 points to 31,839.1, the S&P 500 fell 28.5 points or 0.7% to 3,830.6, and the NASDAQ Composite lost 228.1 points or 2% to 10,971.

On the bond markets, United States 10-Year rates were at 4.007%.

 
 
 

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