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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Facebook Inc    FB


SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

Futures drop on underwhelming updates from tech companies

10/30/2020 | 05:48am EST

(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window.)

* Futures down: Dow and S&P down 0.9%, Nasdaq 1.2%

Oct 30 (Reuters) - U.S. stock index futures tumbled on Friday as dismal business updates from technology mega-caps including Apple Inc fueled investor worries, adding to their concerns about a surge in coronavirus cases.

Apple Inc tumbled 4% premarket after it reported the steepest drop in quarterly iPhone sales in two years due to the late launch of new 5G phones.

Amazon.com Inc fell 1.4% after it forecast a jump in costs related to COVID-19, while Facebook Inc shed 2% as it warned of a tougher 2021.

Google parent Alphabet Inc, however, climbed 7% after it beat estimates for quarterly sales as businesses resumed advertising.

Shares of the technology heavyweights had jumped ahead of tech results on Thursday, helping the S&P 500 close higher.

Still, the benchmark index is set to wrap up its worst week since mid-June, while Wall Street's fear gauge held at a 20-week high, also on fears of a contested election next week.

Ahead of the final weekend before Election Day on Tuesday, President Donald Trump and Democratic challenger Joe Biden will barnstorm across battleground states in the Midwest where the coronavirus pandemic has exploded anew.

Trump has consistently trailed Biden in national polls for months, but polls in the most competitive states have shown a closer race.

At 06:13 a.m. ET, Dow E-minis were down 238 points, or 0.9%, S&P e-minis fell 28.75 points or 0.87% and Nasdaq 100 E-minis were down 140 points, or 1.23%.

Third-quarter earnings season is past its halfway mark and about 84.8% of S&P 500 companies have beaten estimates for earnings, according to Refinitiv data. Overall, profit is expected to tumble 13.4% from a year ago.

Twitter Inc slumped 14.2% after the micro-blogging site reported fewer users than expected and warned the U.S. election could impact ad revenue. (Reporting by Medha Singh in Bengaluru; Editing by Arun Koyyur)

© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
ALPHABET INC. 0.11% 1823.76 Delayed Quote.36.16%
AMAZON.COM, INC. -0.76% 3162.58 Delayed Quote.71.15%
APPLE INC. -0.56% 122.25 Delayed Quote.67.46%
DJ INDUSTRIAL 0.83% 30218.26 Delayed Quote.5.01%
FACEBOOK INC -0.76% 279.7 Delayed Quote.36.27%
NASDAQ 100 0.49% 12528.482731 Delayed Quote.42.76%
NASDAQ COMP. 0.70% 12464.232074 Delayed Quote.37.63%
S&P 500 0.88% 3699.12 Delayed Quote.14.50%
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12/04FACEBOOK : sued by DOJ for alleged discrimination against US workers
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12/03Justice Department accuses Facebook of discriminating against U.S. workers
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Financials (USD)
Sales 2020 83 478 M - -
Net income 2020 26 870 M - -
Net cash 2020 63 906 M - -
P/E ratio 2020 30,3x
Yield 2020 -
Capitalization 797 B 797 B -
EV / Sales 2020 8,78x
EV / Sales 2021 6,87x
Nbr of Employees 56 653
Free-Float 83,8%
Duration : Period :
Facebook Inc Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends FACEBOOK INC
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus BUY
Number of Analysts 51
Average target price 316,19 $
Last Close Price 279,70 $
Spread / Highest target 34,1%
Spread / Average Target 13,0%
Spread / Lowest Target -57,1%
EPS Revisions
Mark Elliot Zuckerberg Chairman & Chief Executive Officer
Sheryl Kara Sandberg Chief Operating Officer & Director
David M. Wehner Chief Financial Officer
Michael Todd Schroepfer Chief Technology Officer
Atish Banerjea Chief Information Officer
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1st jan.Capitalization (M$)
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