Dow futures dip, Tesla sheds 5.9% after earnings

Dow futures dip, Tesla sheds 5.9% after earnings


By Oliver Gray – U.S. stock futures were trading lower during Wednesday’s evening trade, after a mixed session among major benchmark averages as investors closely monitored earnings results from companies including Netflix (NASDAQ:NFLX) and Morgan Stanley (NYSE:MS).

By 19:00 ET (23:00 GMT), Dow Jones futures lost 0.1%, S&P 500 futures fell 0.2%, and Nasdaq 100 futures declined 0.3%.

In extended deals, Tesla (NASDAQ:TSLA) fell 5.9% after the company reported Q1 EPS of $0.85 versus $0.86 expected. Revenues for the quarter came in at $23.3 billion versus $23.78B.

International Business Machines (NYSE:IBM) added 1.7% after reporting Q1 EPS of $1.36 versus $1.27 expected, with revenues reported at $14.3B versus $14.37B.

F5 Networks (NASDAQ:FFIV) fell 4.8% after reporting Q2 EPS of $2.53 versus $2.42 expected on revenues of $703 million versus $698.85M. The company forecasted Q3 2023 EPS in the range of $2.78-$2.90 versus $3.05 expected, with revenues in the range of $690M-$710M versus $747M expected.

Ahead in Thursday’s session, investors will be closely monitoring jobless claims, Philadelphia Fed manufacturing, and existing home sales data.

Among earnings, AT&T (NYSE:T), AXP Energy (ASX:AXP) (OTC:AUNXF), Alaska Air Group (NYSE:ALK), Blackstone Group (NYSE:BX), and Nokia (HE:NOKIA) (NYSE:NOK) are among the companies scheduled to release results.

During Wednesday’s trade, the Dow Jones Industrial Average fell 79.6 points or 0.2% to 33,879, while the S&P 500 and Nasdaq Composite both finished flat at 4,154.5 and 12,157.2, respectively.

On the bond markets, United States 10-Year rates were at 3.591%.


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