Dow futures trade higher, Salesforce jumps 15.4% after earnings
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By Oliver Gray
Investing.com – U.S. stock futures were trading slightly higher during Wednesday’s evening trade, after a mixed session among major benchmark indices as the S&P 500 and the NASDAQ retreated amid spiking bond yields, while investors continued monitoring a fresh batch of earnings results.
By 6:30pm ET (11:30pm GMT) Dow Jones Futures were trading 0.5% higher while S&P 500 Futures and Nasdaq 100 Futures each ticked 0.1% higher.
In extended deals, Salesforce (NYSE:CRM) lifted 15.4% after the company reported Q4 EPS of $1.68 versus $1.36 expected, while revenue was reported at $8.38 billion versus $8 billion expected. The company also gave guidance for Q1 2024, with EPS coming in at $1.60-$1.61 versus $1.32 expected, while forecasting revenues of $8.16-8.18 billion versus $8.05 billion expected.
Snowflake Inc (NYSE:SNOW) dipped 7.3% after reporting Q4 EPS of $0.14 versus $0.05 expected on revenue of $589 million versus $576.22 expected.
Okta, Inc. (NASDAQ:OKTA) lifted 13.7%, reporting Q4 EPS of $0.30 versis expectations of $0.09, while revenue came in at $510 million versus $489.79 million expected.
American Eagle Outfitters Inc (NYSE:AEO) gained 6.6% after reporting EPS of $0.37 versus $0.3 expected while revenues came in at $1.5 billion versus $1.48 billion expected.
Ahead in Thursday’s session, market participants will be looking towards jobless claims, quarterly productivity and unit labor cost data, as well as speeches from the Fed’s Waller and FOMC member Kashkari.
On the earnings front, companies including Broadcom Inc (NASDAQ:AVGO), Costco Wholesale Corp (NASDAQ:COST), Marvell Technology Group Ltd (NASDAQ:MRVL) and Dell Technologies Inc (NYSE:DELL) are scheduled to release results.
During Wednesday’s session, the Dow Jones Industrial Average finished flat at 32,661.9, the S&P 500 fell 18.8 points or 0.5% to 3,951.4 and the NASDAQ Composite dipping 76.1 points or 0.7% to 11,379.5.
On the bond markets, United States 10-Year rates were at fresh 4-month highs of 3.994%.