U.S. stock index futures moved slightly higher early Friday as traders evaluated a fresh wave of corporate earnings ahead of next week’s Federal Reserve interest rate decision.
Here’s a look at some of the notable premarket movers:
- Intel (NASDAQ:INTC) shares dropped 8% after the semiconductor giant issued a weaker-than-expected outlook for the third quarter and unveiled plans to reduce its workforce by the end of 2025. The company said headcount would decline to approximately 75,000—down 22% from the end of last year—through attrition and “other means.”
- Centene (NYSE:CNC) fell 13% after the health insurance provider surprised markets with a quarterly loss, driven in part by increased medical costs across its insurance offerings.
- Deckers Outdoor (NYSE:DECK) jumped 12% following strong fiscal first-quarter results. The footwear company reported better-than-anticipated sales for both its Hoka and Ugg brands.
- Phillips 66 (NYSE:PSX) edged up 0.6% after the oil refiner topped Wall Street profit forecasts for Q2, benefiting from favorable refining margins and reduced turnaround expenses.
- Charter Communications (NASDAQ:CHTR) slid 7.6% as its second-quarter earnings missed expectations, weighed down by ongoing declines in its customer base.
- Newmont (NYSE:NEM) advanced 1.9% after the mining giant exceeded analyst forecasts for second-quarter earnings. The beat was driven by a combination of rising gold prices and solid operational execution.
- Paramount Global (NASDAQ:PARA) rose 1.1% after the Federal Communications Commission approved its planned $8 billion merger with Skydance Media, clearing a major regulatory hurdle.
- Boyd Gaming (NYSE:BYD) added 0.8% after the casino and entertainment company posted second-quarter results that topped expectations. Management cited continued strength among core customers and an uptick in retail play.
- Sarepta Therapeutics (NASDAQ:SRPT) dropped 10% after European regulators declined to recommend approval for Elevidys, the company’s gene therapy treatment for Duchenne muscular dystrophy.
Futures tied to the Dow Jones Industrial Average, S&P 500, and Nasdaq 100 were all modestly in the green heading into the final trading day of the week, as earnings season remains in focus and investors brace for clues from the Fed on the path of interest rates.
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