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Vita Coco, Domo rallies, Mobileye falls premarket in earnings deluge
['Pranav Kashyap', 'Min Read']
Yahoo Finance - Business Finance, Stock Market, Quotes, News
By 05:44 ET (09:44 GMT), Dow Jones Futures fell 200 points, or 0.4%, S&P 500 Futures slipped 27 points, or 0.4%, and Nasdaq 100 Futures declined 108 points, or 0.4%.
The retreat follows a mixed earnings season for technology companies, with investors continuing to scrutinize whether corporate results can justify elevated valuations tied to the artificial intelligence boom.
Mobileye fell 4.4% after the autonomous driving technology company announced that founder and Chief Executive Amnon Shashua plans to step down once a successor is appointed, overshadowing an upbeat earnings report.
The company posted adjusted earnings of $0.19 per share, well ahead of expectations for $0.06, while revenue of $508 million topped forecasts.
Mobileye also raised its full-year revenue outlook, although investors focused on the leadership transition and flat year-over-year sales growth.