Dow Futures Little Changed, Chegg Tanks 21.5% After EarningsFebruary 7, 2023
U.S. stock futures were trading in a tight range during Monday’s evening deals, after major benchmark averages finished the regular session lower as rising yields put pressure on risk-sensitive assets ahead of key speeches set to be delivered by Federal Reserve officials later in Tuesday’s session. By 18:30 ET (23:30 GMT) Dow Jones futures, S&P 500 futures, and Nasdaq 100 futures were trading in a range of 0.1%. In extended deals, Chegg (NYSE:CHGG) fell 21.5% after the company reported Q4 EPS of $0.40 versus $0.36 expected on revenues of $205.2 million versus $202.12M expected. Pinterest (NYSE:PINS) dipped 2.8% after reporting Q4 EPS of $0.29 versus $0.27 expected on revenues of $877.21M versus $887.01M expected.
Skyworks Solutions (NASDAQ:SWKS) Added 2.5% After Reporting.
Q1 EPS of $2.59, in-line with expectations, while revenues were reported at $1.33 billion versus $1.32B. Ahead in Tuesday’s session, market participants will be monitoring fresh trade balance data as well as speeches from Fed Chair Powell and Vice Fed Chair Barr. On the earnings front, companies including BP PLC (NYSE:BP) and Chipotle Mexican Grill Inc (NYSE:CMG) are set to report quarterly results. During Monday’s regular trade, the Dow Jones Industrial Average fell 35 points or 0.1% to 33,891, the S&P 500 fell 25.4 points or 0.6% to 4,111.1, and the Nasdaq Composite dropped 119.5 points or 1% to 11,887.5.