U.S. stock futures were trending higher on Thursday after Federal Reserve Vice-Chairman Richard Clarida said that conditions for hiking interest rates are likely to be met at the end of 2022.
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Dow futures, S&P futures, and Nasdaq futures were up 0.16%, 0.20%, and 0.22%, respectively, at the time of writing.
DigitalOcean Holdings Inc. (DOCN), FSD Pharma Inc. (HUGE), and Fiverr International Ltd (FVRR) are set to report their quarterly earnings before the market opens. Virgin Galactic Holdings Inc. (SPCE), Plug Power Inc. (PLUG), and Novavax Inc. (NVAX) will report after the market closes.
Meten EdtechX Education Group (METX) was the most active stock in the pre-market session, with more than 4.7 million shares changing hands at the time of writing.
Ensysce Biosciences (ENSC) was one of the biggest gainers in the pre-market session, jumping 44.1% at the time of writing. No fundamental news has been released to justify the massive surge.
Nevro Corp (NVRO) was the biggest laggard in pre-market trading, down 29.45% at the time of writing. The sell-off followed the company’s disappointing second-quarter results. Its quarterly loss narrowed to $0.62 a share, from the loss of $1.21 a share reported in the same quarter last year. Revenue landed at $102.33 million, missing consensus estimates by $0.5 million.
Accenture (ACN) has reached an agreement to acquire supply chain management firm Blue Horseshoe. The two are yet to confirm the terms of the deal.
Following its Q2 earnings release, Kraft Heinz (KHC) shares fell 5.14% as the company warned of margin pressure due to rising raw materials costs. Net sales in the quarter fell 0.5% year-over-year to $6.6 billion, beating consensus estimates of $6.53 billion. Adjusted net earnings came in at $0.78 a share, above the Street’s expectations of $0.72 a share.
Electronic Arts, Inc. (EA) shares rose 3.4% in Wednesday’s extended trading session after the video game company reported better-than-expected fiscal first-quarter financial results, driven by growth in net revenues. Net revenues were up 6.3% from the same quarter last year to $1.55 billion, beating consensus estimates of $1.28 billion. However, earnings per share fell 43.2% to $0.71, but still beat consensus estimates of $0.62 a share.
Uber Technologies, Inc. (UBER) delivered solid second-quarter financial results, driven by growth in revenues. Quarterly revenues were up 105% year-over-year to $3.93 billion, beating consensus estimates of $3.74 billion. Additionally, delivery revenues grew 122% to $1.96 billion. The company bounced back to profitably, posting earnings per share of $0.58, compared to a net loss of $1.02 reported in the same quarter last year.
Activision Blizzard (ATVI) delivered better-than-expected second-quarter results and raised its outlook for the year. The company’s net bookings came in at $1.92 billion, beating consensus estimates of $1.89 billion. Earnings per share landed at $1.20, beating consensus estimates of $0.74.
