Stock Futures Down Slightly Following Record Highs

Stock futures saw a mild dip on Friday after a strong closing session that saw the S&P 500 reach a new record high, fueled by Nvidia’s remarkable performance.

Nvidia Continues its Winning Streak

Nvidia’s premarket trading showed a 2.6% increase after a substantial 16% surge the day prior due to exceptional quarterly earnings. This marked the highest percentage increase for the stock since May 25, 2023. Over the last year, Nvidia has skyrocketed by 232%, with the company adding a whopping $277 billion to its market value in just one day.

Carvana Surges Alongside Positive Outlook

Carvana experienced a 26% boost as the e-commerce platform reported a narrowed fourth-quarter loss compared to the previous year. Additionally, they forecasted a slight increase in retail units sold in the upcoming quarter, anticipating adjusted EBITDA to exceed $100 million.

Booking Holdings Beats Earnings Expectations

Overall, while facing slight setbacks in futures trading, companies like Nvidia, Carvana, and Booking Holdings continue to make waves in their respective industries.

Block Surges 13% Following Strong Q4 Results

Block saw a significant rise of 13% after the parent company of payment app Square announced fourth-quarter revenue of $5.77 billion, surpassing analysts’ expectations of $5.7 billion. The gross profit for the quarter also increased by 22% to $2.03 billion, beating estimates of $1.97 billion. With earnings of 2 cents per share compared to a loss of 93 cents in the same quarter last year, Block remains optimistic with a projected first-quarter gross profit of $2 billion to $2.02 billion.

Intuitive Machines Soars 64% on Moon Landing Success

Intuitive Machines experienced a surge of 64% after their Odysseus spacecraft successfully landed on the moon, making it the first privately funded lander to achieve this milestone. This makes the Odysseus lander the first U.S.-made spacecraft to land on the moon since 1972.

Intuit Beats Expectations with Fiscal Q2 Results

Intuit reported adjusted earnings of $2.63 per share in the fiscal second quarter, surpassing analysts’ estimates of $2.30. The revenue for the tax-preparation software maker rose by 11% to $3.39 billion, meeting expectations, although Intuit shares saw a slight decline of 1.6%.

Live Nation Sees Strong Fourth-Quarter Growth

Live Nation announced a 36% increase in fourth-quarter revenue, reaching $5.84 billion, with concert revenue jumping by 44%. The world’s largest concert promoter revealed that concert-ticket sales for the year are showing a 6% increase, while arena and amphitheater sales have risen by double-digits.

Upcoming Earnings Reports and Expectations

Earnings reports are anticipated on Friday from big names such as Warner Bros. Discovery, Icahn Enterprises, and Bloomin’ Brands.

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