U.S. stock futures are trading mixed Friday morning, setting up an interesting day for investors watching several major earnings reports roll in. Here's what's catching attention.
Wall Street is expecting Conagra Brands Inc. (CAG) to report quarterly earnings of 44 cents per share on revenue of $2.99 billion before the opening bell, according to data from Benzinga Pro. The food company's shares ticked up 0.3% to $17.85 in after-hours trading as investors positioned ahead of the results.
Nike Inc. (NKE) delivered a mixed bag that sent shares tumbling despite beating expectations. The athletic apparel giant reported second-quarter revenue of $12.43 billion, topping analyst estimates of $12.22 billion. Earnings came in at 53 cents per share, well above the 38 cents analysts projected, according to Benzinga Pro. So what's the problem? Nike posted declining gross margins for the second straight quarter, a trend that has investors worried about pricing power and profitability. The stock dropped 10.8% to $58.57 in after-hours trading, proving that sometimes beating estimates isn't enough if the underlying metrics look shaky.
Analysts are looking for Paychex Inc. (PAYX) to post quarterly earnings of $1.23 per share on revenue of $1.57 billion when the payroll processing company reports before the market opens. Paychex shares dipped 0.5% to $113.69 in after-hours trading.
FedEx Corp. (FDX) had a better evening, posting solid second-quarter results for fiscal 2026 and raising its full-year guidance. The logistics giant now expects revenue growth of 5% to 6% in fiscal 2026, an upgrade from its previous range of 4% to 6%. FedEx also reaffirmed its commitment to delivering $1 billion in permanent cost reductions through structural improvements and the rollout of its Network 2.0 initiative. Investors liked what they heard, pushing shares up 0.1% to $287.50 in after-hours trading.
Finally, analysts expect Carnival Corp. (CCL) to report quarterly earnings of 25 cents per share on revenue of $6.37 billion before the opening bell. The cruise line operator's shares rose 0.5% to $28.49 in after-hours trading as the market awaits results.
It's shaping up to be an eventful Friday for these five companies, with earnings surprises and guidance updates likely to drive significant trading action once the market opens.
