U.S. stock futures ticked higher in thin premarket trading as a flood of company results crossed the wires. Investors are weighing a mix of earnings beats, guidance tweaks and notable revisions to outlooks across tech, consumer stocks and biotech, with Apple among the loudest movers after reporting its fiscal second-quarter results.
According to CNBC, Apple shares were up about 3.5% after the company posted earnings of $2.01 per share on revenue of $111.18 billion for the fiscal Q2. The results beat consensus estimates of $1.95 per share and $109.66 billion, according to LSEG. However, iPhone sales missed expectations for the second time in three quarters, underscoring continued variability in device demand even as overall results topped Street forecasts.
Roku—a streaming peer—rose roughly 7% after first-quarter revenue of $1.25 billion beat the $1.20 billion average estimate from FactSet. The company also reported adjusted EBITDA of $148.4 million, ahead of the $131.3 million expected, and signaled that current-quarter metrics could come in above forecasts. Other big movers included Estee Lauder, which rose more than 11% after stronger-than-expected third-quarter results and an annual forecast raise; Amgen, which slipped about 2% despite a small uptick to its full-year outlook; and Rivian, whose shares were down nearly 3% after a larger-than-anticipated loss in the first quarter, even as revenue beat expectations.
Reddit surged more than 13% in premarket trading after quarterly user metrics topped estimates and the company provided an above-consensus adjusted EBITDA outlook for the current quarter. Moderna gained about 3% after posting a first-quarter loss narrower than analysts expected and revenue that topped forecasts, with the company reaffirming its full-year revenue growth target. Roblox tumbled more than 23% after trimming its full-year bookings guidance and dialing back second-quarter bookings guidance, signaling a softer demand environment for its platform.
Other notable moves included Paramount Skydance, which rose about 3% after Morgan Stanley upgraded the stock to overweight, citing strategic advantages from the Warner Bros. Discovery deal, potential AI-driven cost savings and a stronger focus on streaming and studio assets. SanDisk fell about 4% despite reporting better-than-expected fiscal third-quarter earnings and revenue, with the stock pressured after a sharp run this year. Twilio gained roughly 22% after posting stronger-than-expected first-quarter adjusted earnings and revenue, and signaling a higher-than-guide revenue trajectory for the current quarter.
Clorox edged higher around 6% after beating on earnings for its fiscal third quarter, with earnings of $1.64 per share and revenue of $1.67 billion. Yet investors trimmed expectations on the outlook, as the company flagged potential headwinds to full-year profit amid cautious consumer spending. Monolithic Power Systems slipped about 3% despite beating first-quarter earnings per share and revenue expectations, benefiting from a favorable patent ruling in its favor. Western Digital fell about 8% even as its results and fourth-quarter outlook topped forecasts, with the company guiding for adjusted earnings of roughly $3.25 per share and revenue near $3.65 billion; the stock has surged this year, outperforming the broader market.
Dexcom edged down about 2% after posting first-quarter results that topped expectations on both earnings per share and revenue. The company forecast 2026 revenue within a range that aligns closely with the street view. GoDaddy rose about 3.5% after first-quarter earnings of $1.60 per share on revenue of $1.27 billion, beating consensus estimates, with free cash flow also surpassing expectations. Veeva Systems jumped about 11% on news it will join the S&P 500, replacing Coterra Energy, effective May 7. Eastman Chemical rose nearly 4% after reporting a solid first quarter, with earnings ex-items of $1.09 per share and revenue of $2.18 billion, both topping consensus estimates; the company also pointed to potential earnings upside tied to external factors.
On the downside, AstraZeneca fell more than 1% after an FDA advisory panel recommended against approving its new cancer drug, casting a cloud over the molecule’s path to market on certain programs. CNBC’s Christina Cheddar Berk and Darla Mercado contributed reporting.
Key takeaways
- Price move: Apple up about 3.5% after strong earnings and revenue, though with a caveat on iPhone demand.
- Catalyst: A mix of beat-and-raise results, modest guidance tweaks, and selective downgrades across big names, with several firms signaling improved profitability or upside risk in particular segments.
- Implication: The premarket backdrop suggests a cautious-to-constructive tone, as investors separate company-by-company momentum from macro- or policy-driven headwinds.
What drove the move
The session’s momentum was driven by a spectrum of earnings outcomes that individually carry meaningful implications for their industries. Apple’s quarterly beat on earnings and revenue reinforced the company’s ability to monetize an expansive ecosystem even as iPhone demand remains uneven. The outperformance in other big names—Roku, Estee Lauder, Moderna and Twilio—reflects continued resilience in consumer and enterprise tech-adjacent franchises, even as some peers grapple with softer demand signals.
Roku’s quarter underscored the streaming platforms’ ongoing leverage against ad-sustained growth, with EBITDA momentum topping expectations and management signaling a favorable trajectory into the next period. Estee Lauder’s sales strength, paired with a raised annual outlook, pointed to durable demand within premium beauty categories despite macro uncertainty. Moderna’s narrowed loss and revenue beat suggested ongoing progress in its portfolio, while Twilio’s earnings beat and higher revenue outlook reinforced the appeal of cloud communications in a digital-first corporate world.
Meanwhile, Roblox’s sharp revision lower for full-year bookings served as a reminder that consumer engagement within digital platforms remains highly elastic. The company’s pullback highlighted the risk that user spend and developer economics could compress sooner-than-expected, even as platform monetization investments continue.
Market reaction
Premarket activity showed broad breadth but discernible divergence. The upbeat moves in Apple, Roku, Estee Lauder and Twilio ran alongside notable underperformance from Rivian and Western Digital, reflecting idiosyncratic company dynamics rather than a uniform sector signal.
Investors also weighed a string of positive quarterly prints against tighter guidance or higher competitive pressures. Roblox’s guidance weakness, alongside Clorox’s cautious full-year outlook despite an earnings beat, signaled that consumer-facing equities could remain susceptible to changes in demand and pricing power. Yet, gains in Reddit, Veeva Systems and Eastman Chemical suggested pockets of resilience in user growth, software delivery and specialty chemicals, respectively.
What analysts are saying
Analysts have been parsing the mixed picture from the results. For Apple, consensus metrics published by LSEG showed expectations of roughly $1.95 per share and about $109.7 billion in revenue, underscoring how the top-line beat was taken in the context of a still-choppy iPhone trajectory. Roku’s revenue and EBITDA exceedances aligned with a market that remains hopeful about ad-supported and subscription-led growth in streaming hardware and services.
Estee Lauder’s results came with a strong earnings beat and an elevated annual outlook, reinforcing the notion that premium beauty has resilient demand in parts of the consumer market. Moderna’s earnings and revenue beat, along with a reaffirmation of full-year growth, supported the view that biopharma can navigate a volatile macro backdrop with disciplined product development and pricing. Twilio’s beat and optimistic guidance fed bets on the continued expansion of enterprise communications platforms.
On the downside, Roblox’s sharp reductions to bookings and the misalignment with consensus estimates drew attention to the risk that users may slow their engagement and that monetization can lag user growth. Western Digital’s decline despite a beat pointed to the fragility of storage demand in a highly competitive space, while AstraZeneca’s setback at the FDA panel reminded investors that drug approvals remain a high-stakes catalyst.
Bigger picture
The day’s results come as investors assess the resilience of corporate earnings against an environment of ongoing inflation considerations, shifting interest-rate expectations and geopolitical risk factors. A handful of companies are delivering better-than-expected results and raising guidance, which supports risk appetites in tech and consumer staples stocks. At the same time, several firms are signaling that late-cycle demand could waver, especially in consumer-focused and discretionary segments.
Market participants will remain attentive to evolving guidance from major players, with the broader earnings season serving as a proxy for the economy’s momentum. In the background, the path of interest rates and inflation data will continue to shape how investors price risk, allocate capital and assess the sustainability of multi-quarter earnings strength across the S&P 500 universe.
In the near term, traders will watch for further earnings reports, guidance updates and macro data that could validate or challenge the current trajectory. The balance between beat-driven rallies and rotation into more defensive names will likely dictate the tone of the market as the week unfolds.
What to watch next: ongoing earnings releases, guidance revisions, and macro data points that could alter expectations for rates and inflation. Investors will also monitor any updates around the companies listed above, as well as the broader implications for sectors tied to consumer demand, cloud software, and semiconductor demand in a shifting macro regime.
