Dow Jones futures fell slightly Friday morning while S&P 500 futures and Nasdaq futures retreated solidly as Apple (AAPL) and Amazon stock retreated overnight on earnings.
The stock market rally rose solidly Thursday, closing near highs, with Apple stock and Amazon.com (AMZN) among the regular-session winners. Meanwhile, Facebook (FB), another FAANG play, said it’s changing its name to Meta Platforms, with the FB stock ticker shifting to MVRS.
Apple, Amazon, Atlassian (TEAM), Dexcom (DXCM) and U.S. Steel (X) reported earnings after the close.
AAPL stock fell overnight on mixed Apple earnings. AMZN stock retreated on weak Amazon earnings, sales and guidance. TEAM stock jumped on strong results. DXCM stock was little changed after Dexcom earnings and sales topped. U.S. Steel stock was a notable winner, signaling an early entry, after beating views.
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Facebook Is Now Meta
As CEO Mark Zuckerberg promised, Facebook is changing its corporate name to reflect a new focus on the metaverse. That name is Meta Platforms Inc.
“The metaverse is the next frontier,” Zuckerberg said at Facebook’s Connect conference on Thursday. “From now on, we’re going to be metaverse-first, not Facebook-first.” Zuckerberg sees a future in which people interact in virtual environments with lifelike avatars, as opposed to in-person or Zoom-type environments.
The existing Facebook, Instagram and WhatsApp platforms will retain their names.
FB stock rose 1.5% to 316.92 on Thursday, but closed off session highs above its 200-day line. Shares had tumbled Tuesday on weaker-than-expected revenue and guidance.
Facebook, with its new name of Meta, will switch from the FB stock ticker to MVRS stock ticker on Dec. 1.
Metaverse: Sci-Fi Hype Or The Next Big Thing?
Dow Jones Futures Today
Dow Jones futures lost 0.1% vs. fair value. S&P 500 futures fell 0.4%. Nasdaq 100 futures retreated 0.75%. Apple and Amazon stock are negatives for Nasdaq futures, but TEAM stock also …….