5 Things to Know Before the Stock Market Opens

U.S. stock futures point lower as investors evaluate disappointing tech earnings; shares of Alphabet (GOOGL) sink after the Google parent’s cloud revenue growth comes up shy of estimates; Advanced Micro Devices (AMD) stock drops after the firm’s data center revenue falls short of expectations; U.S.-listed shares of Novo Nordisk (NVO) rise as Wegovy sales more than double year-over-year; and Walt Disney Co. (DIS) shares move higher after it beats revenue and profit estimates. Here’s what investors need to know today.

1. US Stock Futures Point Lower on Disappointing Tech Results

U.S. stock futures are pointing lower as investors react to disappointing earnings from tech firms. Nasdaq futures are nearly 1% lower after the tech-heavy index rose 1.4% in the prior session. S&P 500 and Dow Jones Industrial Average futures also are pointing down. Bitcoin (BTCUSD) is rising slightly to trade below $99,000, while yields on the 10-year Treasury note are lower. Oil futures are declining while gold futures are moving higher.

2. Google Stock Plunges as Cloud Revenue Grows Less Than Expected

Shares of Google parent Alphabet (GOOGL) are plunged 7% in premarket trading after the tech giant reported disappointing cloud revenue. Alphabet reported overall revenue grew 12% year-over-year to $96.47 billion, roughly in line with Visible Alpha estimates, and its earnings of $26.54 billion, or $2.15 per share, topped them. However, Google Cloud’s 30% revenue growth to $11.96 billion missed expectations. The firm also reported that it would have $75 billion in capital expenditures this year as it accelerates spending on artificial intelligence (AI) infrastructure.

3. AMD Stock Drops Lower-Than-Expected Data Center Revenue

Advanced Micro Devices (AMD) shares are dropping 9% in premarket trading after the chipmaker’s data center revenues fell short of expectations. AMD’s revenue grew 24% to a record $7.66 billion, above Visible Alpha consensus, while its adjusted earnings per share (EPS) of $1.09 also beat expectations. AMD’s data center sales climbed 69% to a record $3.86 billion driven by demand for the company’s AI chips, but still missed the $4.12 billion called for by analysts.

4. Novo Nordisk Stock Rises on Sales Growth of Weight-Loss Drugs

U.S.-listed shares of Novo Nordisk (NVO) are rising 3% in premarket trading after the Danish drugmaker’s better-than-estimated quarterly results offset slower 2025 sales growth projections. The maker of weight-loss drugs Ozempic and Wegovy reported that its quarterly sales grew 30% year-over-year to 85.68 billion Danish kroner ($11.97 billion), above estimates, while its profit of DKK28.23 billion also beat expectations. Wegovy sales soared by 107% at constant exchange rates, while Ozempic sales rose 12%. Novo Nordisk also projected 2025 sales growth of 16% to 24% at constant exchange rates, below the 26% growth it produced in 2024.

5. Disney Posts Better-Than-Expected Q1 Revenue, Profit

Shares of The Walt Disney Co. (DIS) are rising about 1.5% in premarket trading after the entertainment heavyweight reported first-quarter revenue and profit that topped expectations. Disney posted net income of $2.55 billion, or $1.40 per share, on revenue of $24.69 billion, topping Visible Alpha estimates. The company reported that Disney+ had 124.6 million subscribers in the quarter, down slightly from 125.3 million last quarter, and it forecast another “modest decline” in subscribers for the current quarter.