US Stocks Show Mixed Pre-Market Moves as Companies Report Quarterly Earnings

U.S. stock futures pointed to a modestly higher open on Wall Street, with the Nasdaq futures up 0.6% and small-cap Russell 2000 futures also gaining 0.6%, while S&P 500 futures rose 0.4%. The moves followed a batch of quarterly earnings releases that drove individual stock reactions, including sharp gains for Pinterest after its results topped expectations.

Apple shares dipped 0.2% in pre-market trading despite reports of exploratory talks with Intel and Samsung Electronics about producing main processors for its devices. Separately, BofA noted that Apple's App Store revenue grew 3.7% year-over-year in the current third quarter of fiscal 2026, building on demand for iPhone and Mac products that prompted the company to boost its revenue guidance to between 14% and 17% growth.

Pinterest surged 17% after reporting first-quarter earnings and revenue that beat estimates, along with stronger-than-expected guidance tied to higher user monetization and improvements in its AI-driven ad platform. The social media company's outlook pointed to continued revenue acceleration.

Coinbase rose 3.5% following its announcement to reduce its workforce by about 14%, with the crypto exchange's CEO citing the impact of artificial intelligence on processes and the need to manage costs in volatile markets. The firm aims to streamline operations amid advances in AI technology.

Cummins shares were not specifically mentioned in pre-market movers, but the company reported first-quarter net sales of $8.40 billion, slightly above the $8.37 billion estimate, and raised its full-year EBITDA outlook to between 17.8% and 18.5% growth.

Intel gained 3.6% on news of discussions with Apple regarding processor production, alongside Samsung Electronics. Shopify dropped 6.6% after its operating profit fell well short of expectations, with its revenue outlook suggesting a potential slowdown in growth pace.

Palantir Technologies fell 3% despite beating key metrics in its first-quarter results, though its U.S. commercial sales disappointed, even as it raised its full-year forecast. " — PLTR CEO Alex Karp to commercial clients (YahooFinance).

Seven stocks showed mixed performance, with Amazon up 0.6%, Microsoft gaining 0.4%, Meta at 0.3%, Alphabet rising 0.3%, Tesla adding 0.3%, Nvidia nearly flat at -0.01%, and Apple down 0.2%. Other gainers included ADM, which rose 1% after surpassing Wall Street expectations on top and bottom lines and raising its fiscal 2026 profit view.

Pfizer increased 1.6% following earnings and revenue beats, with the company reaffirming its full-year outlook. PayPal ticked up 0.6% as its first-quarter metrics topped expectations. In the crypto space, Bullish slipped 2% after agreeing to buy Equiniti from Siris Capital in a $4.2 billion deal to expand in blockchain-based capital markets infrastructure, enhancing its tokenized securities capabilities.

Oil companies reported strong profits driven by higher oil and gas prices, with one major firm beating analyst estimates due to price jumps offsetting lower production in the Middle East and Kazakhstan. Another saw a 4% rise in upstream earnings. These firms signaled no plans to prioritize output growth, focusing instead on earnings amid elevated prices.

The emphasis remains on profitability rather than expanding production.

Marsal aims to generate 50% of its revenue from artificial intelligence work by 2028, targeting up to $3.5 billion in earnings from that segment. Paramount reported first-quarter revenue of $7.3 billion, topping expectations, with Ellison underscoring a pledge to produce 30 films a year following a potential acquisition of Warner Bros.

Other pre-market declines included Eaton down 5% after a second-quarter profit outlook below analyst expectations, and Inspire Medical falling 18% after slashing its full-year revenue guidance due to coding and reimbursement uncertainty for its sleep apnea implant.