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Friday’s Pre-Market: Here’s What You Need to Know Before the Market Opens

U.S. stock futures were pointing to a lower open on Friday amid growing concerns about the fast-spreading Delta variant and regulatory pressures in China. Sentiments in the equity markets have also been weighed heavily by a disappointing earnings report from Amazon.

Dow futures were down 0.33%, S&P futures were down 0.70%, and Nasdaq futures were down 1.12% at the time of writing.

MoneyGram International Inc. (MGI), Dime Community Bancshares Inc. (DCOM), Hillman Solutions Corp. (HLMN), and Telus International Cda Inc. (TIXT) are set to report their quarterly earnings before the market opens, while Concord Medical Services Holdings Ltd. (CCM), and Cabral Gold Inc. (CBGZF) will report after market close.

Erytech Pharma SA (ERYP) was the most actively traded stock in the pre-market session, with about 1.28 million shares exchanging hands at the time of writing. The increased market activity comes on the company securing U.S. Food and Drug Administration fast track approval for the treatment of acute lymphocytic leukemia (ALL) patients.

Achilles Therapeutics (ACHL) was one of the biggest gainers in pre-market trading, jumping 16.23% at the time of writing. There is no fundamental news to explain the bullish price move. The clinical-stage immuno-oncology company develops T cell therapies used in various tumors.

Pinterest, Inc. (PINS) was the biggest loser in the pre-market, falling 19.25% at the time of writing. The sell-off comes despite the company posting stronger than expected second-quarter results. Revenues were up 125% to $613.21 million, and earnings per share came in at $0.25 versus analysts’ expectations of $0.13 a share.

Amazon (AMZN) shares fell by as much as 7.44% in after-hours of trading after the e-commerce giant reported mixed second-quarter results. While net sales were up 27% year over year to $113.1 billion, they fell short of analysts’ estimates of $115.07 billion. Net income increased to $7.8 billion, or $15.12 a share, against the $12.22 per share expected.

Intercontinental Exchange, Inc. (ICE) delivered second-quarter results that missed consensus estimates. While adjusted earnings were up 12% year-over-year to $1.16 a share, they missed Street estimates of $1.17 a share. Net revenues were also up 22% to $1.7 billion but fell short of the $1.72 billion expected.

Yum! Brands, Inc. (YUM) shares popped 6.1% after the fast-food restaurant company reported impressive second-quarter results characterized by same-store sales growth across all divisions. Adjusted earnings per share were up 41% year over year to $1.16, topping consensus estimates of $0.95 a share. Revenues were also up 34% to $1.6 billion, beating estimates of $1.48 billion.

Schneider National, Inc. (SNDR) shares jumped 5.3% after the transportation and logistics services provider delivered better than expected second-quarter results. Adjusted earnings were up 131% to $0.60 a share, versus the $0.41 a share that analysts expected. Revenue surged 32% to $1.36 billion against $1.25 billion expected.

Gilead Sciences (GILD) shares dipped despite the company delivering strong second results. The biopharmaceutical firm delivered adjusted earnings per share of $1.87, representing 68% growth and coming in above consensus estimates of $1.73 a share. Revenues were up 21% to $6.2 billion, beating consensus estimates of $6.07 billion.