US futures dip on weak results

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WallStreet1234 Reuters. A Wall Street sign is pictured outside the New York Stock Exchange in New York.

New York - US stock index futures edged lower on Friday, weighed by weak results including those from Amazon, and ahead of data on durable goods.

* The S&P 500 closed Thursday at a record high and was within 0.5 percent of hitting 2,000.

* Data on orders for long-lasting US manufactured goods for June is due at 8:30 a.m. EDT (14:30 SA time).

* Amazon shares tumbled more than 10 percent in premarket trading after investment in new businesses cut into earnings and the company reported a much larger-than-expected loss in the second quarter.

* S&P 500 e-mini futures were down 3 points and fair value - a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract - indicated a lower open.

Dow Jones industrial average e-mini futures fell 17 points and Nasdaq 100 e-mini futures lost 11 points.

* Visa shares fell 2.6 percent in premarket trading after the world's largest credit and debit card company cut its revenue forecast for the year.

* Pandora Media dropped 9 percent before the opening bell, after it forecast adjusted profit below analysts' estimates for the current quarter.

* On the upside, Baidu shares surged 8.7 percent in premarket trading after China's biggest Internet search company blew past Wall Street's targets with a 34.1 percent jump in quarterly net profit, helped by a surge in mobile revenue.

* RF Micro Devices rose 6.3 percent in premarket trading after it forecast quarterly results above market expectations on higher demand for its chips that connect devices such as Apple's and Samsung's smartphones to networks. - Reuters


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