© Reuters.
By Oliver Gray
Investing.com – U.S. stock futures moved lower Monday night after major benchmark averages finished the regular session higher amid volatile trading as wild swings continued in technology stocks, while Treasury yields surged ahead of a widely expected Federal Reserve interest rate hike later this week.
By 6:45pm ET (10:45pm GMT) and were both 0.2% lower, while fell 0.3%.
In extended deals, Chegg Inc (NYSE:) tanked 30.6% as the company better than expected results while issuing weak full-year guidance. Chegg reported earnings of 32 cents per share versus 24 cents expected on revenues of $202 million versus $201 million expected.
Devon Energy Corporation (NYSE:) lifted 3.2% after . Earnings came in at $1.88 per share versus $1.75 expected on revenues of $3.8 billion versus $4 billion expected. The company also announced a dividend and buyback hike.
Harmonic Inc (NASDAQ:) popped 9.3% after Q1 EPS of $0.08 versus estimates of $0.04, while revenue for the quarter came in at $147.4 million versus the consensus estimate of $136.4 million.
Monolithic Power Systems Inc (NASDAQ:) gained 6.1% after the company Q1 EPS of $2.45 versus $2.26 expected on revenues of $377.7 million versus the consensus estimate of $360.52 million.
Clorox Co (NYSE:) dipped 1.9% as the company slashed its full-year gross margin outlook amid continuing inflationary concerns. Clorox EPS of $1.31 versus 97 cents expected on revenues of $1.81 billion versus $1.79 billion expected.
Avis Budget Group Inc (NASDAQ:) gained 7.7% as quarterly surpassed analysts’ expectations. Q1 EPS came in at $9.99 versus $3.45 expected on revenues of $2.4 billion versus $2.08 billion expected.
Earnings reports continue later in the session with Restaurant Brands International Inc (NYSE:), Pfizer Inc (NYSE:) and Paramount Global (NASDAQ:) slated to report before the opening bell, while Airbnb Inc (NASDAQ:), Advanced Micro Devices Inc (NASDAQ:), LYFT Inc (NASDAQ:) and Starbucks Corporation (NASDAQ:) are also expected to report.
Traders will also watch for the latest reading of the (JOLTS) data that is expected at 10 a.m. ET on Tuesday.
Ahead in the week, the Federal Open Market Committee will issue a statement on on Wednesday. The decision will be released at 2 p.m. ET, with Federal Reserve Chairman Jerome Powell holding a at 2:30 p.m.
During Monday’s regular trade, The rose 1.63% to 12,536.02, while the rose 0.57% to 4,155.38. The gained 84.29 points, or 0.26%, to close at 33,061.50.
On the bond markets, yields were near fresh 3-year highs of 2.977%.
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