20/05/2024 9:20 AM

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Dow futures up 200, oil rallies, weekly jobless claims ahead

A man wearing a mask walks by the New York Stock Exchange (NYSE) on March 17, 2020 at Wall Street in New York City.

Johannes Eisele | AFP | Getty Images

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7:42 am: Lyft shares gain 16{3c4481f38fc19dde56b7b1f4329b509c88239ba5565146922180ec5012de023f} after revenue jumps 23{3c4481f38fc19dde56b7b1f4329b509c88239ba5565146922180ec5012de023f} year-over-year

Shares of Lyft rose 16{3c4481f38fc19dde56b7b1f4329b509c88239ba5565146922180ec5012de023f} in premarket trading following the company’s first quarter earnings results. The ride-hailing company lost an adjusted $1.09 per share for the quarter, which was larger than the 63 cents loss analysts had been expecting, but revenue topped estimates and rose 23{3c4481f38fc19dde56b7b1f4329b509c88239ba5565146922180ec5012de023f} year-over-year. The number of active riders increased by 3{3c4481f38fc19dde56b7b1f4329b509c88239ba5565146922180ec5012de023f} year-over-year. Last Friday, the company said it was laying off or furloughing nearly 17{3c4481f38fc19dde56b7b1f4329b509c88239ba5565146922180ec5012de023f} of its workforce in an effort to cut costs. –Stevens

7:36 am: Peloton shares surge after earnings

Peloton shares jumped 20{3c4481f38fc19dde56b7b1f4329b509c88239ba5565146922180ec5012de023f} during Thursday’s premarket trading after the fitness equipment maker’s third quarter results. The company lost 20 cents per share, which was more than the 17 cents loss the Street had been looking for, but revenue beat estimates. Peloton said stay-at-home orders sparked a 66{3c4481f38fc19dde56b7b1f4329b509c88239ba5565146922180ec5012de023f} jump in sales, and the company also raised its sales forecast for the current quarter. For the year the stock is up 21{3c4481f38fc19dde56b7b1f4329b509c88239ba5565146922180ec5012de023f}, while the S&P 500 has shed nearly 12{3c4481f38fc19dde56b7b1f4329b509c88239ba5565146922180ec5012de023f}. –Stevens

7:27 am: Stock futures point to rebound on Wall Street

U.S. stock futures rose sharply, putting Wall Street on track to rebound from Wednesday’s decline, ahead of key unemployment data. Dow Jones Industrial Average futures were up more than 200 points, or 1.1{3c4481f38fc19dde56b7b1f4329b509c88239ba5565146922180ec5012de023f}. S&P 500 and Nasdaq 100 futures climbed 1.3{3c4481f38fc19dde56b7b1f4329b509c88239ba5565146922180ec5012de023f}. A 9.1{3c4481f38fc19dde56b7b1f4329b509c88239ba5565146922180ec5012de023f} surge in West Texas Intermediate futures helped sentiment in equity futures. Those gains in stock and oil futures came ahead of the Labor Department’s weekly jobless claims report, which is slated for 8:30 a.m. On Wednesday, the Dow and S&P 500 closed lower for the first time in three sessions as investors weighed the possibility of the economy reopening soon. —Imbert

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