U.S. stock futures rose on Friday ahead of the release of personal consumption expenditure (PCE) price index data expected later today.
Dow Futures were up 0.55% while S&P Futures and Nasdaq Futures rose 0.42% and 0.35%, respectively.
Today, companies expected to report before the market opens include Big Lots (BIG), Caleres (CAL), and Hibbett Sports (HIBB).
AMC Entertainment (AMC) was the most actively traded stock in pre-market trading as speculative trading activity on the stock has increased once again. AMC looked set to open around 16% higher at the time of writing.
Vertex Energy Inc. (VTNR) was the biggest gainer in pre-market trading as the stock popped 46.9% at the time of writing. The specialty refinery company announced yesterday that it will acquire Royal Dutch Shell’s (RDS.A) refinery in Mobile, Alabama for $75 million.
1847 Goedeker Inc (GOED) was the biggest laggard in pre-market trading, plunging 70% at the time of writing. The e-commerce site for appliances and furniture announced the pricing of a public offering of 91.1 million units at $2.25 for each unit. Each unit will consist of a share of common stock and one warrant. The warrant will enable the purchase of one share of common stock.
In earnings news, cloud computing company, Nutanix (NTNX) reported a loss of $0.41 per share in the fiscal third quarter that was smaller-than-expected as analysts were expecting a loss of $0.49 per share. The company reported a loss of $0.69 per share in the same quarter last year.
NTNX posted revenues of $344.5 million in Q3, up 8% year-over-year, outpacing analysts’ expectations of $334.5 million.
Nutanix’s CFO Duston Williams said, “Our growing renewals pipeline will help to drive future top line growth, offer substantial sales and marketing efficiencies, and increase the predictability in our business.”
Meanwhile, cloud-based platform company Anaplan Inc. (PLAN) reported a wider-than-expected loss in Q1 of $0.10 per share versus analysts’ estimates of $0.09 per share. The company posted revenues of $129.83 million, up 25% year-over-year and topping the Street’s estimates of $127.09 million.
In other news, tech giant Alphabet’s (GOOGL) Google has inked a cloud computing deal with Shopify (SHOP) and HCA Healthcare (HCA). The partnership between Shopify and Google Cloud will result in merchants getting access to world-class infrastructure to better handle all levels of traffic.
HCA Healthcare’s partnership with Google Cloud will help build a secure and dynamic data analytics platform for HCA Healthcare.
Aircraft manufacturing giant Boeing (BA) will settle cases involving its 737 Max aircraft with the Federal Aviation Administration (FAA). The company will pay a fine of $17 million to settle the FAA enforcement cases. Boeing will pay the fine within 30 days after signing the settlement agreement.
“Keeping the flying public safe is our primary responsibility. That is not negotiable, and the FAA will hold Boeing and the aviation industry accountable to keep our skies safe,” said Steve Dickson, FAA Administrator.
Automaker General Motors (GM) will partner with Lockheed Martin (LMT) to enhance deep space exploration through the development of lunar vehicles. These vehicles will be used by astronauts as a means of transport on the moon’s surface.
“Working together with Lockheed Martin and their deep-space exploration expertise, we plan to support American astronauts on the Moon once again,” said SVP Alan Wexler, Innovation and Growth Unit, General Motors.
