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U.S. stock futures are mixed after the S&P 500 and Dow Jones Industrial Average extended their winning streaks to six sessions; investors prepare for Microsoft (MSFT) and Meta Platforms (META) results later today; Super Micro Computer (SMCI) shares are plunging in premarket trading on weak preliminary results; Starbucks (SBUX) stock is sinking after the coffee giant reported revenue and profit below expectations; and Caterpillar (CAT) issues two outlook scenarios, with and without tariff impacts. Here's what investors need to know today.
1. US Stock Futures Mixed After Dow, S&P 500 Gain for Sixth Straight Session
U.S. stock futures are mixed after the S&P 500 and Dow Jones Industrial Average extended their winning streaks to six sessions amid a wave of corporate earnings. Dow futures are pointing slightly higher after the blue-chip index advanced by 0.8% in the prior session, while S&P 500 futures are down 0.3%. Nasdaq futures are 0.6% lower after the tech-heavy index added 0.6% Tuesday. Bitcoin (BTCUSD) is little changed at around $95,000. Yields on the 10-year Treasury note are down at 4.15%. Oil and gold future are lower.
2. Microsoft, Meta Platforms to Report Results After Closing Bell
Magnificent Seven stalwarts Microsoft (MSFT) and Meta Platforms (META) are set to report quarterly earnings after markets close today. Analysts tracked by Visible Alpha expect Microsoft to have increased fiscal third-quarter revenue by 10% year-over-year to $68.44 billion and deliver earnings per share of $3.21, up from $2.94. Meta is seen reporting first-quarter EPS of $5.24 on revenue of $41.35 billion, which would represent 11% and 13% growth, respectively. Microsoft shares are little changed in premarket trading, while those of Meta are slipping 1%.
3. Super Micro Computer Stock Falls on Weak Preliminary Results
Super Micro Computer (SMCI) shares are plunging 17% in premarket trading after the server maker published preliminary results that came in lower than its prior forecast. Supermicro said it now expects current-quarter revenue of $4.5 billion to $4.6 billion, well below its previous estimate of $5 billion to $6 billion, while its projected adjusted EPS of 29 cents to 31 cents was down from the prior 46 cents to 62 cents. The downward revisions come after delayed consumer product decisions pushed sales into Supermicro's fiscal fourth quarter, the company said.
4. Starbucks Stock Sinks on Worse-Than-Expected Results
Starbucks (SBUX) stock is dropping more than 8% in premarket trading after the coffee seller reported quarterly revenue and earnings that missed analysts' expectations as global same-store sales slipped 1%. Starbucks reported a 2% revenue bump to $8.76 billion and adjusted EPS of 41 cents, both short of Visible Alpha estimates. The report comes as CEO Brian Niccol pushes a "Back to Starbucks" turnaround plan that has included revamping the chain's cafes in a bid to make them more welcoming.