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Dow Futures Lift Ahead of Fed Rate Decision -Breaking


© Reuters.

Oliver Gray – were trading higher in overnight deals as investors monitored fresh corporate earnings reports ahead of the Federal Reserve’s , with market participants widely expecting officials to hike rates by half a percentage point.

At 6:50 ET (11:50 GMT), 0.1% had been added, 0.2% gained and 0.3% lifted.

LYFT Inc (NASDAQ) plunged 26.2% in extended deals after losing 57c per share versus 10 cents on revenue of $875.6m versus $846 million consensus. The company also shared guidance for the second quarter that fell below analysts’ estimates.

Uber Technologies Inc The (NYSE) fell 4.4% in the aftermath Lyft ‘s results.

Livent Corp (NYSE:) gained 19.7% with Q1 earnings of 28 cents, which was expected to be 13 cents. Meanwhile, revenue came in at 143.5 million, against the consensus estimate $139.65 millions.

Infinera Corporation (NASDAQ) dropped 18.6%, with losses per share of 7cs. That’s worse than analysts estimates of 4cs. Meanwhile, revenue for the quarter was $338.9m, which is lower than the consensus estimate at $361.74million.

Airbnb Inc (NASDAQ:) jumped 6.7% in extended trading after the company a beat on the top-and-bottom-lines, with losses per share coming in at 3 cents versus 25 cents expected on revenues of 1.51 billion versus 1.45 billion expected. It also provided positive guidance for the current period.

Advanced Micro Devices Inc. (NASDAQ:) saw 6.8% growth following an improvement in the top and bottom lines. The Q1 earnings per share came in at $1.13 against 91 cents, and revenue was $5.9 billion. This compares to the consensus estimate for $5.52 billion. AMD posted 71% growth in sales and gave strong guidance on revenue for this quarter and next year.

Starbucks Corporation (NASDAQ) saw its earnings per share rise to 59c, which was in line with the expectations. Revenues reached $7.64 Billion, compared to $7.60 billion.

Match Group Inc (NASDAQ): The stock dropped 6.1% in spite of higher-than expected earnings per share, and revenue growth. The company also noted that CEO Shar Dubey would step down on May 31 and Bernard Kim, president of Zynga, will take over.

Market participants have been preparing for Fed hawkishness and are also expecting the central bank to announce plans to reduce its $9 trillion-worth of balance sheets by $95 billion per month starting in June. Investors also look forward to earnings reports from CVS Health Corp, Uber Technologies Inc (NYSE 🙂 and others. Yum! Brands Inc On Wednesday, (NYSE:)

During Tuesday’s regular deals, the rose 0.48% to 4,175.5, the lifted 67.29 points or 0.2% to close at 33,128.8 and the added 0.22% to 12,563.8.

Treasury yields fell to 2.979% after reaching new highs over three years on the bond markets.

The data show that March’s GDP rose by 2.2% which is better than was expected and reached an all-time high at 11.55 Million.