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Dow Futures Gain, Meta Surges 18% After Earnings -Breaking

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© Reuters.

Oliver Gray 

Investing.com – were trading higher during Wednesday’s evening deals, after major benchmark averages finished slightly higher during regular trading as investors digested quarterly earnings results from mega-cap names.

By 6:45 ET (11:45 GMT), 0.3% had been added, 0.8% was lifted and 1.3% gained

Meta Platforms Inc. (NASDAQ:) grew 18.3% following reporting. EPS was $2.72, versus $2.56 anticipated, and revenues were $27.91billion versus $28.2b expected. Analyst expectations were also exceeded by daily active Facebook users.

Ford Motor Company (NYSE 🙂 improved 4% following adjusted earnings per shares of 38cs, against 37 cents expected. Meanwhile revenues reached $32.1billion versus the $31.13billion expected.

PayPal Holdings Inc (NASDAQ): The stock gained 3.2% following Q1 results. The Q1 results were in line with the consensus estimates, and had EPS of $0.88 as well as revenue of $6.5 Billion. It also reduced its guidance on revenue and earnings per share for the entire year, and provided weak guidance in the second quarter.

Qualcomm Incorporated rose 5% following better than anticipated results. This was partly due to the increased sales of Android phones. Adjusted revenue was $3.21 per share, compared to $2.91 anticipated. Revenues were $11.16 billion, compared with $10.6 billion.

Pinterest Inc The (NYSE:) stock surged by more than 11% after an improvement in top and bottom line performance in the most recent quarter. On revenues of $575million, EPS was 10 cents higher than expected and $573million more than expected. Year-over-year, monthly active users declined 9% to 433,000,000

Investors anticipate big tech earnings Thursday by Apple Inc (NASDAQ) and Amazon.com Inc. Twitter Inc (NYSE:) and results from Robinhood Markets Inc (NASDAQ:). Data will be closely watched on the economic side.

During Wednesday’s regular deals, the rose 61.75 points or 0.2% to 33,301.93, the advanced 0.2% to 4,183.96 and the finished little changed at 12,488.93.

Among stocks, Microsoft Corporation (NASDAQ:) rose 4.8% after strong results. Visa Inc Class A (NYSE:) added 6.5% after the company’s quarterly topped analyst estimates on the top and bottom lines. Solar company Enphase Energy Inc Also, after beating earnings expectations, the stock of (NASDAQ) rose 7.7%. Alphabet Inc (NASDAQ) declined 3.6% following results that fell short of analysts’ expectations. Boeing Co After a miss, (NYSE:) fell 7.5%

The yields on the bond market fell to 2.826%.

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