Dow Futures Little Changed After Positive Session, Lucid Reports

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By Oliver Gray

Investing.com – U.S. stock futures were trading slightly lower during Wednesday’s evening deals, following a positive close among major benchmark averages amid robust earnings and stronger economic than expected data.

By 7:20pm ET (11:20pm GMT) Dow Jones Futures were flat, S&P 500 Futures were down 0.1% and Nasdaq 100 Futures fell 0.3%

In extended deals, Lucid Group (NASDAQ:LCID) fell 12.6% after reporting Q2 losses of $0.33 per share, beating expected losses of $0.39 per share, while revenues came in at $97.3 million versus $145.49 million expected.

Clorox (NYSE:CLX) fell 6.5% after the company reported Q4 EPS of $0.93, in-line with estimates, while revenue came in at $1.8 billion versus $1.86 billion expected.

Medifast (NYSE:MED) moved 11.1% lower after reporting Q2 EPS of $3.87, above estimates of $3.23, while revenue for the quarter came in at $453.3 million versus estimates of $447.87 million.

Lumen Technologies Inc (NYSE:LUMN) fell 6% as the company reported Q2 EPS of $0.35, below estimates of $0.46 while revenue came in at $4.61 billion $4.58 billion expected.

Qorvo (NASDAQ:QRVO) traded 2.7% lower after reporting Q1 EPS of $2.25, beating estimates of $2.11 while revenues came in at $1.04 billion versus estimates of $1.02 billion.

Yellow Corp (NASDAQ:YELL) added 36.9% following results, as the company reported Q2 EPS of $1.17 versus $0.45 expected on revenues of $1.42 billion versus $1.4 billion expected.

Ahead in the session, investors are looking toward weekly jobless claims data as well as fresh earnings results from Eli Lilly and Company (NYSE:LLY), Kellogg Company (NYSE:K), Alibaba Group Holdings Ltd (NYSE:BABA) and ConocoPhillips (NYSE:COP).

During Wednesday’s regular session, the Dow Jones Industrial Average added 416.3 points or 1.3% to 32,821.5, the S&P 500 gained 64 points or 0.6% to 4,155.2 and the tech-heavy NASDAQ Composite lifted 619.4 points or 2.6% to 12,668.2.

On the bond markets, United States 10-Year rates were at 2.706%.

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