Stock Futures Trade Mixed as Alphabet Misses Profit Estimates, Intel Beats

New York (Jan 27)  Stock futures were mixed on Friday morning as a rush of earnings pulled markets in opposite directions.

S&P 500 futures were down 0.02%, Dow Jones Industrial Average futures rose 0.03%, and Nasdaq futures increased 0.1%.

The Dow closed out Thursday with its third straight day of gains, a streak not seen since mid-December. The blue-chip index also ended the day with a record close for the second session in a row. The Dow has benefited from the prospects of increased infrastructure spending and looser business regulations from the Trump administration.

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Alphabet (GOOGL) tumbled 3% in premarket trading after falling short of profit estimates over its recent quarter. The parent company of Google earned an adjusted $9.36 a share, up from $8.67 a share a year earlier, but below estimates of $9.64 a share. Advertising revenue at Google increased 17%. A 41% annual increase in adjusted cost of revenue -- to $5.5 billion -- played a role in Alphabet missing earnings forecasts. Pixel manufacturing costs, YouTube content costs and greater depreciation expenses on past capital investments all contributed, as did $320 million in "one-time charges" related to "equipment and other adjustments."

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Intel (INTC) rose 1% after topping analysts' estimates on its top- and bottom-lines. The tech company earned an adjusted 79 cents a share, 3 cents higher than the year-ago quarter and more than an estimate of 75 cents. Revenue of $16.4 billion exceeded consensus of $15.75 billion.

Source: The Street