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The corporate headquarters of Facebook parent Meta Platforms in Menlo Park, Calif., in November shortly after its stock hit a low of less than $90 a share. Shares of Meta and other tech companies have been volatile since 2022 after years of rapid growth.
Stock futures were rising Thursday, getting a lift from Meta Platforms, which posted earnings and user growth that beat analysts’ estimates.
These stocks were poised to make moves Thursday:
Meta Platforms (META) reported first-quarter earnings and revenue that were better than expected, and the parent company of Facebook predicted revenue in the second quarter of $29.5 billion to $32 billion, higher than forecasts. The stock was rising 12.1% in premarket trading.
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Caterpillar (CAT) reported first-quarter earnings and revenue that beat analysts’ forecasts. Shares of the maker of construction-and mining equipment dipped in premarket trading.
Eli Lilly (LLY) was rising 2.4%. The pharmaceutical company’s first-quarter revenue beat analysts’ estimates and Eli Lilly raised full-year guidance. The company also said Thursday that a second pivotal trial of weight-loss drug tirzepatide found that patients with Type 2 diabetes on average lost 15.7% of their body weight over 72 weeks.
Merck (MRK) reported first-quarter adjusted earnings of $1.40 a share, higher than analysts’ estimates, and the pharmaceutical giant issued 2023 guidance that beat Wall Street forecasts. Shares rose 1%.
Southwest Airlines (LUV) declined 3.4% in premarket trading after reporting a wider-than-expected quarterly loss.
Shares of Roku (ROKU) were up 1.8% in premarket trading after the streaming-media company reported a narrower-than-expected first-quarter loss but warned that discretionary spending would continue to be hurt by inflation and recession fears this year.
First Republic Bank (FRC) was rising 2.8% in premarket trading after shares of the regional lender retreated 30% in Wednesday’s session and 49% on Tuesday. First Republic said Monday that its first-quarter deposits declined more than 41%.
Honeywell International‘s (HON) first-quarter adjusted earnings beat Wall Street forecasts and the industrial conglomerate raised full-year guidance. The stock rose 2.2% in premarket trading.
ServiceNow (NOW) fell 1.5% in premarket trading. The workflow software company reported a first-quarter revenue jump of 22% to $2.1 billion, and raised its annual forecast for subscription sales.
Shares of eBay (EBAY) rose 2.9% in premarket trading after the online retail marketplace swung to a profit in the first quarter and adjusted earnings topped analysts’ forecasts.
Teradyne (TER) reported first-quarter adjusted earnings that beat analysts’ expectations and the electronic testing equipment maker issued a strong second-quarter forecast. The stock rose 5.1%.
Wolfspeed (WOLF), the silicon-carbide chip maker, declined 12.8% following a forecast that called for a fourth-quarter adjusted loss wider than Wall Street expectations.
Amazon.com (AMZN) was rising 2.5%. The online retailing and tech giant is scheduled to report first-quarter earnings after the closing bell Thursday. Analysts surveyed by FactSet expect Amazon to post earnings of 21 cents a share on sales $124.6 billion. Chip maker Intel (INTC) also will be posting results after Wall Street closes.
Write to Joe Woelfel at joseph.woelfel@barrons.com