After the positive session on the eve, Wall Street is under pressure, weighted down by the publication of some US quarterly reports, Snap and Amazon above all.
Futures are dealing in particular with the sell-offs affecting the Snap stock, after the SnapChat messaging app company announced worse-than-expected revenues.
However, Nasdaq futures are barely moved, just below parity, as are Dow Jones and S&P 500 futures.
In the first quarter of the year, Snap’s earnings per share were 1 cent on an adjusted basis, versus an expected 1 cent loss.
Revenue was $989 million in the first quarter, versus $1.01 billion expected. Snap stock plunges 20% in afterhours trading on Wall Street.
Snap stock sinks about 20% in afterhours trading on Wall Street.
Amazon is bad too.
The e-commerce giant announced that it ended the first quarter of the year with better-than-expected profits and turnover.
On a net basis, sales totaled $127.36 billion, better than the $124.7 billion consensus expectation and up 9% year over year.
EPS was 31 cents. However, Amazon’s top management has shown caution on the trend of the Amazon Web Services cloud division.
Amazon stock, after rising up to around 10%, falls by more than 2%.
Intel’s quarterly report was decidedly negative, highlighting the strongest earnings loss in the chip company’s history, with a drop in earnings per share of -133%, resulting in a loss per share of 4 cents, up adjusted basis.
Despite the collapse, Intel’s result managed to confirm better than expected, amounting to a loss of 15 cents per share.
The stock is up about 5% in afterhours trading on Wall Street.
On Wall Street yesterday, the Dow Jones Industrial Average jumped 524.29 points, or +1.57%, to 33,826.16 points.
The Nasdaq Composite was up 2.43% to 12,142.24, while the S&P 500 was up 1.96% to 4,135.35.
Yesterday was the best session since January for the Dow Jones and the S&P 500.
It was the strongest rally since March for the Nasdaq.