Dow futures steady, AMD sheds 6.5% after earnings

Investing.com – U.S. stock futures fell slightly on Tuesday night, following a negative session among benchmark averages as a continuing financial contagion soured risk appetite ahead of the Federal Reserve’s latest and fresh earnings results.

By 6:45pm ET (10:45pm GMT) were flat while and eased 0.1% apiece.

In extended deals, Advanced Micro Devices Inc (NASDAQ:) fell 6.5% after Q1 EPS of $0.60 versus $0.56 expected on revenues of $5.4 billion versus $5.3 billion expected. Looking ahead, the company forecasted Q2 2023 revenue in the range of $5-5.6 billion versus $5.49 billion expected.

Ford Motor (NYSE:) slipped 1.6% after the company Q1 EPS of $0.63, beating expectations of $0.42, while revenue was reported at $39.1 billion versus $37.4 billion expected.

Sprout Social (NASDAQ:) dipped 17.4%, Q1 EPS of $0.06, beating expecated losses of $0.01 per share, while revenue came in at $75.2 million versus $75.07 million expected.

Starbucks (NASDAQ:) slipped 5.2%, Q2 EPS of $0.74, $0.09 better than the analyst estimate of $0.65. Revenue for the quarter came in at $8.7B versus the consensus estimate of $8.4B.

Ahead in Wednesday’s session, market participants will be closely monitoring the of the Federal Reserve’s two-day policy meeting and data, as well as the and Markit’s readings.

Earnings results from companies including Qualcomm Incorporated (NASDAQ:), CVS Health Corp (NYSE:), Yum! Brands Inc (NYSE:) and Spirit Aerosystems Holdings Inc (NYSE:) will also be closely watched by investors.

During Tuesday’s regular session, the fell 367.2 points or 1.1% to 33,684.5, the dipped 48.3 points or 1.2% to 4,119.6 and the dipped 132.1 points or 1.1% to 12,080.5.

Regional banking companies remained in turmoil, with KeyCorp (NYSE:), U.S. Bancorp (NYSE:) and Zions Bancorporation (NASDAQ:) shedding 9.4%, 7% and 10.8%, respectively.

On the bond markets, rates were at 3.433%.