Dow futures slip, Rivian tanks 9.8% after earnings

By Oliver Gray

Investing.com - Dow futures were trading slightly lower during Tuesday's evening trade, after major indices closed out the month of February with significant losses, while investors continued to monitor a deluge of earnings results.

By 18:45 ET (23:45 GMT) Dow Jones futures lost 0.2%, S&P 500 futures were down 0.3%, and Nasdaq 100 futures fell 0.4%.

In extended deals, Rivian Automotive (NASDAQ:RIVN) fell 9.8% after reporting Q4 losses of $1.73 per share versus expected losses of $1.96 per share, while revenue came in at $663 million versus $729M expected.

HP (NYSE:HPQ) added 2.8% after reporting Q1 EPS of $0.75, slightly above estimates of $0.74, while revenue was reported at $13.8 billion versus $14.15B expected.

First Solar (NASDAQ:FSLR) gained 4.5% after the company reported Q4 losses of $0.07 per share versus expected losses of $0.17 per share. Revenue came in at $1B, in-line with expectations.

Novavax (NASDAQ:NVAX) tanked 25.3%, reporting Q4 losses of $2.28 versus expected losses of $1.19 on revenues of $357M versus $383.14M.

Ahead in Wednesday's trade, Investors will be monitoring ISM manufacturing data as well as monthly construction spending data.

Among earnings, companies including Salesforce (NYSE:CRM), Lowe’s Companies (NYSE:LOW), Snowflake (NYSE:SNOW), Dollar Tree (NASDAQ:DLTR), and Okta (NASDAQ:OKTA) are set to deliver quarterly results.

During Tuesday's regular trade, the Dow Jones Industrial Average fell 232.4 points or 0.7% to 32,656.7, the S&P 500 lost 12.1 points or 0.3% to 3,970.2, and the Nasdaq Composite eased 11.4 points or 0.1% to 11,455.5.

On the bond markets, United States 10-Year rates were near 15-week highs of 3.926%.