U.S. stock futures ticked up Friday morning, supported by a mostly upbeat earnings season even as several major names posted sharp premarket moves. Investors are also turning their attention to the Federal Reserve’s upcoming policy meeting next week.
Here’s a rundown of the key premarket movers:
- Intel (NASDAQ:INTC) plunged 8% after the chipmaker projected a larger-than-anticipated loss for the third quarter. It also revealed a significant restructuring plan that includes cutting its workforce by 22%—bringing total headcount to about 75,000 by year-end—via attrition and other cost-cutting measures.
- Centene (NYSE:CNC) tumbled 13% after posting an unexpected quarterly loss. Elevated healthcare costs related to its insurance operations weighed heavily on the results.
- Deckers Outdoor (NYSE:DECK) surged 12% as the company delivered a blowout quarter, with strong demand for its Hoka and Ugg brands driving better-than-expected revenue.
- Phillips 66 (NYSE:PSX) rose 0.6% after the energy company beat Wall Street’s Q2 earnings estimates, aided by improved refining margins and reduced turnaround costs.
- Charter Communications (NASDAQ:CHTR) slid 7.6% after reporting weaker-than-expected second-quarter earnings. Continued subscriber losses remain a headwind for the cable and broadband provider.
- Newmont (NYSE:NEM) gained 1.9% as the mining heavyweight topped consensus forecasts for the quarter, thanks to stronger gold prices and operational efficiency.
- Paramount Global (NASDAQ:PARA) rose 1.1% after U.S. regulators approved its $8 billion merger with Skydance Media, clearing a critical regulatory milestone.
- Boyd Gaming (NYSE:BYD) added 0.8% after beating Q2 expectations on both earnings and revenue. The company cited solid demand among core players and improved trends in retail gaming.
- Sarepta Therapeutics (NASDAQ:SRPT) dropped 10% after European authorities issued a negative opinion on its Elevidys gene therapy for Duchenne muscular dystrophy, a major blow to the biotech firm.
With big tech earnings and the Fed decision looming, markets are bracing for a pivotal week. For now, futures on the Dow, S&P 500, and Nasdaq 100 all point to a slightly firmer open.
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