Futures point to a mixed open this morning, with the Dow tracking higher but the Nasdaq poised to decline.
It joins a growing list of tech firms that have filed to go public this year. WeWork's business model continues to rely on heavy funding from private investors, namely SoftBank. beginning today promises to put a focus on its messaging apps as the social network shifts toward privacy. CEO Mark Zuckerberg told analysts he plans to talk about Facebook's privacy product road map. as they battle the worst year for the disease in 25 years.
MGM Resorts posted first-quarter earnings per share of 5 cents, compared to the 21 cents forecast by analysts. The hospitality company earned $3.18 billion in revenue, topping estimates of $3.13 billion surveyed by Refinitiv. AK Steel reported first-quarter results of 23 cents earnings per share, beating expectations by 10 cents. Revenue came in at $1.70 billion, lower than the $1.74 billion estimated on the Street.
Yum China , the parent company of Pizza Hut and KFC, posted quarterly earnings per share of 59 cents on revenue of $2.30 billion. Analysts estimated earnings per share of 54 cents on revenue of $2.26 billion, according to Refinitiv consensus estimates. Same-store sales increased 4%, compared to the expected increase of 1.8%.
Western Digital posted third-quarter earnings that missed estimates on the top and bottom lines. It earned $3.67 billion in revenue, missing estimates of $3.68 billion. Earnings per share were 17 cents, lower than the expected 46 cents.
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