U.S. stock futures were mixed this morning, with the Nasdaq futures trading higher by around 100 points on Friday.
Yelp Inc.’s shares tumbled in today’s pre-market trading after the company reported mixed fourth-quarter financial results.
Yelp reported quarterly earnings of 37 cents per share which missed the analyst consensus estimate of 38 cents. However, the company reported quarterly sales of $342.38 million, beating the analyst consensus estimate of $341.32 million.
In addition to its earnings report, Yelp also announced its board of directors authorized a $500 million increase to its share repurchase program.
In pre-market trading, Yelp shares dipped 11.2% to $39.44.
Apart from Yelp, other big stocks recording losses in today’s pre-market trading session included Semper Paratus Acquisition Corporation, Bloom Energy Corporation, Inventiva S.A., Roku, Inc., Dropbox, Inc., D-Wave Quantum Inc., Iris Energy Limited, DoorDash, Inc., Minerals Technologies Inc., and DraftKings Inc.
Despite the mixed performance in pre-market trading, investor optimism has been improving following economic reports, with the S&P 500 settling at a record high.
It will be interesting to see how these stocks perform once the market opens, as recent volatility continues to shape the trading landscape.