Stock futures saw little movement on Tuesday as investors analyzed a new round of quarterly earnings reports halfway through the corporate earnings season.
Futures tracking the Dow Jones Industrial Average declined by 50 points, or 0.15%. Meanwhile, S&P 500 futures and Nasdaq 100 futures remained relatively unchanged.
Investors focused on the latest company results. Even though Uber exceeded Wall Street’s expectations, its stock slipped by 1% before the opening bell. On the other hand, Yum Brands saw a 1.3% decline after falling short of analyst estimates. Snap experienced a significant drop of over 30% due to a revenue miss and disappointing guidance.
Tuesday’s earnings releases marked the midway point of the fourth-quarter reporting season.
Snap’s shares plummeted by more than 31% as the social media company failed to meet analyst revenue expectations and provided a weaker forecast. Meanwhile, Ford’s stock surged by nearly 6% after surpassing Wall Street’s fourth-quarter estimates and issuing higher-than-anticipated full-year guidance. Ford also announced plans to issue a special dividend.
Source (CNBC)
