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Dow futures steady, Gamestop surges 47.4% after earnings
Dow futures steady, Gamestop surges 47.4% after earnings By Investing.com
Breaking News
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Stock Markets 13 minutes ago (Mar 21, 2023 06:48PM ET)
(C) Reuters
By Oliver Gray
Investing.com – U.S. stock futures were trading in a tight range during Tuesday’s evening deals, after major benchmark averages finished the regular session in a positive fashion as market participants look ahead to Wednesday’s key interest rate decision from Federal Reserve policymakers.
By 6:40pm ET (10:40pm GMT) Dow Jones Futures, S&P 500 Futures, Nasdaq 100 Futures were each trading within a range of 0.1%.
In extended deals, GameStop Corp (NYSE:GME) popped 47.4% after reporting Q4 EPS of $0.16 versus expected losses of $0.13 per share, while revenue was reported at $2.23 billion versus $2.18 billion expected.
Meme stocks rallied following the results, with Bed Bath & Beyond Inc (NASDAQ:BBBY) up 7.4% and AMC Entertainment Holdings Inc (NYSE:AMC) adding 0.2%.
Nike Inc (NYSE:NKE) ticked 1.9% lower after the company reported Q3 EPS of $0.79 versus $0.55 expected on revenues of $12.4 billion versus $11.47 billion expected.
Paysign Inc (NASDAQ:PAYS) lifted 2.6% after reporting Q4 EPS of $0.01, in-line with expectations, while revenue came in at $10.6 million versus $10.77 million expected. The company also forecasted Q1 2023 revenue in the range of $10.2-10.3 million versus $10.544 million expected.
Ahead in Wednesday’s session, the Federal Reserve will conclude its two-day policy meeting, announcing the interest rate decision and holding a press conference.
On the earnings front, companies including Tencent Holdings Ltd ADR (OTC:TCEHY) and Winnebago Industries Inc (NYSE:WGO) are set to deliver quarterly results.
During Tuesday’s regular trade, the Dow Jones Industrial Average added 316 points or 1% to 32,560.6, the S&P 500 gained 51.3 points or 1.3% to 4,002.9 and the NASDAQ Composite added 184.6 points or 1.6% to 11,860.1.
On the bond markets, United States 10-Year rates were at 3.608%.
Dow futures steady, Gamestop surges 47.4% after earnings
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