US Stock Futures Weaken

US stock futures weakened on Thursday, affected by disappointing earnings from tech giants Meta Platforms and Microsoft, alongside key inflation data.

Major Premarket US Stock Movers

• Meta Platforms (NASDAQ:META): Stock fell 2.9% following reports of rising AI-related costs, which tempered optimism despite better-than-expected Q3 earnings and revenue fueled by strong ad growth.
• Microsoft (NASDAQ:MSFT): Stock declined 3.7% after predicting slower growth in its Azure cloud business, indicating that AI investments aren't keeping pace with growth constraints.
• eBay (NASDAQ:EBAY): Stock decreased 9% after disappointing guidance for the holiday shopping season.
• Robinhood (NASDAQ:HOOD): Stock dropped 10% after missing Q3 earnings expectations, despite doubling crypto trading volume and revenue year-on-year.
• Uber (NYSE:UBER): Stock fell 5.7% as gross bookings grew at the slowest pace in over a year, although it exceeded quarterly profit estimates.
• Merck (NYSE:MRK): Stock declined 0.8% after warning of sluggish sales of the Gardasil vaccine in China, despite posting better-than-expected Q3 profits.
• Estee Lauder (NYSE:EL): Stock slumped 16% following a revenue miss and withdrawal of its fiscal 2025 outlook due to challenges in China and travel retail.
• Mobileye Global (NASDAQ:MBLY): Stock rose 8.7% after exceeding quarterly revenue expectations, driven by a rebound in car sales in China and improved demand for driver-assistance chips.
• Peloton (NASDAQ:PTON): Stock increased 7.5% after appointing Peter Stern as the new CEO, aiming to revitalize subscription growth following a long search for a replacement for Barry McCarthy.
• Comcast (NASDAQ:CMCSA): Stock rose 6% after beating Q3 revenue estimates, supported by strong box office performance and ad sales during the 2024 Paris Olympics, along with a smaller-than-expected decline in broadband subscribers.