Stock futures were slipping on Friday following the S&P 500's third-consecutive losing session. Treasury yields also paused after the 10-year note closed at its highest level since 2007.
Applied Materials Surpasses Earnings Expectations
Fiscal third-quarter earnings at Applied Materials (AMAT) surpassed Wall Street expectations, with the maker of semiconductor-manufacturing equipment reporting a 2.8% increase in premarket trading. According to CEO Gary Dickerson, the company's focus on key technologies has positioned it for sustainable outperformance, leading to strong results in 2023 and beyond.
Keysight Technologies Falls Short on Fourth-Quarter Outlook
Test equipment manufacturer Keysight Technologies (KEYS) issued a weaker-than-expected fiscal fourth-quarter outlook, causing the stock to fall 11% in premarket trading. Analysts were anticipating higher earnings and revenue than the figures projected by the company.
Farfetch Slumps on Missed Sales Expectations
Luxury fashion company Farfetch (FTCH) experienced a 38% slump after its second-quarter sales missed analysts' expectations. Despite the decline, the company remains committed to rebounding in future quarters.
Bill Holdings Below Analysts' Revenue Expectations
Bill Holdings (BILL), a software company that assists small businesses with bill payments, announced its fiscal 2024 revenue forecast, which fell below analysts' expectations. As a result, Bill shares declined by 4.5%.
Ross Stores Beats Expectations and Raises Guidance
Discount retailer Ross Stores (ROST) posted better-than-expected second-quarter earnings and raised its guidance. The stock saw a 5.3% increase as a result.
Earnings Reports Awaited from Deere, XPeng, Estee Lauder, and Palo Alto Networks
Investors are eagerly awaiting earnings reports from Deere (DE), XPeng (XPEV), Estee Lauder (EL), and Palo Alto Networks (PANW). The timing of Palo Alto's quarterly earnings release, scheduled for after the close of trading, has created speculation among investors. Typically, companies refrain from announcing significant financial news on Friday afternoons, especially during the summer, leading some to believe that Palo Alto may reveal news that shareholders may not like.
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