Stock futures were rising Friday following earnings from
Apple
and ahead of U.S. payrolls data.
These stocks were poised to make moves Friday:
Apple
(ticker: AAPL) was up 2.7% in premarket trading after the iPhone giant reported fiscal second-quarter earnings and sales that beat analysts’ estimates. Most of the revenue beat was from stronger-than-expected sales for Apple’s iPhone unit, which generated revenue of $51.3 billion in the quarter, up 1.5% from a year earlier. Wall Street expected quarterly iPhone sales of $48.7 billion.
Carvana (CVNA) reported a first-quarter loss that narrowed from a year earlier as the company said its cost-cutting campaign will contribute to positive earnings, excluding some expenses, for the current second quarter. The stock soared 41%.
Regional bank shares were climbing early Friday after sinking Thursday.
PacWest
(PACW) gained 18%, while
Western Alliance
(WAL) rose 12%, and
First Horizon
(FHN) jumped 3.9%.
Lyft (LYFT) was falling 16% after the ride-share company issued a second-quarter revenue forecast that came up shy of analysts’ expectations. The company’s forecast for adjusted Ebitda of $20 million to $30 million also missed estimates.
First-quarter revenue at
DraftKings
(DKNG) easily topped Wall Street forecasts and shares of the sports-gambling company were jumping 11% in premarket trading.
Coinbase
(COIN), the cryptocurrency broker, posted a first-quarter loss that was much narrower than expectations and the stock was rising 8.2% in premarket trading.
Coinbase
‘s performance received a significant boost from
Bitcoin,
which has rallied in 2023.
Booking Holdings
(BKNG), the online travel service, was falling 3% after first-quarter adjusted earnings before interest, taxes, depreciation and amortization (Ebitda) of $586 million missed analysts’ forecasts of $627 million.
Expedia
‘s (EXPE) first-quarter revenue jumped to $2.67 billion from $2.25 billion a year earlier and it posted a 20% increase in gross bookings. Shares rose 5.9%.
DoorDash
(DASH) was up 4%. The delivery-app company raised its full-year guidance after orders surged in the first quarter.
Redfin
(RDFN) rose 3.4% after the brokerage and real-estate listings company was upgraded to Neutral from Sell by analysts at Compass Point.
Cloudflare
(NET) gained 3.1% after the internet infrastructure company received an upgrade to Neutral from Sell by analysts at Guggenheim.
Fintech Block (SQ) reported an increase of 26% in first-quarter revenue to nearly $5 billion, beating expectations. The gains were driven by its Cash App mobile payments platform. The stock gained 3%.
AMC Entertainment
(AMC) is expected to report earnings Friday before the stock market opens.
Write to Joe Woelfel at joseph.woelfel@barrons.com
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