U.S. Futures Rise Amid Tech Earnings and Jobs Report Anticipation: Pre-Market Stock Movers

Introduction:

U.S. futures edged higher on Friday as investors reviewed earnings updates from prominent tech firms and anticipated the release of the monthly jobs report. Pre-market trading revealed significant movements in key stocks, with notable gains for Meta Platforms and Amazon, while Exxon Mobil and Chevron also experienced positive momentum.

Key Pre-Market Stock Movers:

1. Meta Platforms (NASDAQ:META): The stock surged 17% following a remarkable tripling of profit compared to the previous year. Meta Platforms, formerly known as Facebook, announced its inaugural dividend payment along with an additional $50 billion in share buybacks.

2. Amazon (NASDAQ:AMZN): Shares rose 7% as the online retail giant reported a robust full-year profit exceeding $30 billion, driven by quarterly sales totaling $170 billion.

3. Exxon Mobil (NYSE:XOM): The energy giant's stock climbed 0.9% after surpassing fourth-quarter profit expectations and unveiling a 4.4% dividend increase.

4. Apple (NASDAQ:AAPL): Shares declined 2.7% following reports of decreased iPhone sales in China amid heightened market competition.

5. Chevron (NYSE:CVX): The oil major's stock increased by 1.1% after surpassing fourth-quarter expectations and announcing an 8% dividend hike.

6. Cigna (NYSE:CI): The health insurer saw a 4.5% rise in its stock after raising its 2024 profit forecast on the back of strong demand in its pharmacy benefit management unit and lower-than-expected medical costs.

7. Tesla (NASDAQ:TSLA): Shares fell 0.8% as the electric vehicle manufacturer initiated a recall of 2.2 million vehicles in the U.S. due to font size issues on warning lights, posing a potential safety risk.

8. Bristol-Myers Squibb (NYSE:BMY): The drugmaker's stock rose 2.5% after reporting better-than-expected fourth-quarter results, driven by robust sales of its new anemia drug Reblozyl and patent blood cancer drug Revlimid.

9. Regeneron (NASDAQ:REGN): Shares increased by 3.3% as the drugmaker exceeded fourth-quarter revenue estimates, fueled by strong sales of its blockbuster eye drug Eylea.

Conclusion:

The pre-market movements of major U.S. stocks reflected a mixed sentiment among investors, with notable gains for companies such as Meta Platforms and Amazon, while others like Apple and Tesla faced declines. Anticipation surrounding the monthly jobs report and ongoing earnings assessments contributed to the dynamic trading activity in pre-market sessions.