Updated from 7:38 a.m. ET, Friday, July 21. 

Stock futures were signaling that Wall Street would open lower on Friday, July 21, even as earnings reports continued to surprise to the upside. 

S&P 500 futures were flat, Dow Jones Industrial Average futures were down 0.12%, and Nasdaq futures fell 0.2%.

Microsoft Corp. (MSFT) - Get Report  slipped in premarket trading after the tech giant topped estimates on its top and bottom lines for its fiscal fourth quarter. Adjusted earnings in the quarter were 98 cents a share, which included a gain of 23 cents a share from the write-down of Microsoft's money-losing Windows Phone business. Analysts predicted the company would earn 71 cents a share in the quarter. Revenue rose 13% from a year earlier to $24.7 billion, higher than Wall Street projections of $24.3 billion.

The company's Intelligent Cloud unit, which contains its Azure cloud platform and Windows Server product, saw sales jump 11% to $7.4 billion, beating consensus estimates of $7.3 billion. Microsoft doesn't break out results for its Azure cloud platform but noted that revenue at Azure increased 97% year over year in the quarter.

General Electric Co. (GE) - Get Report posted higher profit than Wall Street expected during CEO Jeffrey Immelt's last full quarter as head of the digital manufacturing conglomerate. Cash from industrial operations climbed $3.1 billion from a gloomy start to the year. Profit of 28 cents a share in the three months through June topped the 25-cent average estimate from analysts surveyed by FactSet.

Total revenue of $29.6 billion, higher than estimates, still dropped 12% from a year earlier as locomotive sales slid amid falling railroad deliveries for U.S. shale drilling. Revenue from oil and gas equipment dropped 3% to $3.1 billion as oil prices at less than half a 2014 peak continued to curb demand from producers.

GE shares fell 1.5% in premarket trading.

Visa Inc. (V) - Get Report reported a quarterly beat on its top- and bottom-lines. The credit card company earned 86 cents a share, a nickel higher than expected. Revenue surged 25.6% to $4.56 billion, exceeding estimates by $200 million. Visa said it processed $1.86 trillion on its network in the quarter, up 38% from a year earlier. In the U.S., the company's largest market, Visa said payments processed rose 12%.

Colgate-Palmolive Co. (CL) - Get Report declined 2.2% in premarket trading after a mixed quarter. Adjusted earnings of 72 cents a share met consensus, while revenue of $3.83 billion fell short of an expected $3.9 billion. CEO Ian Cook said "uncertainty in global markets and slowing category growth worldwide remain challenging." The multinational anticipates full-year net sales to rise in the low-single digits. 

Capital One Financial (COF) - Get Report reported better-than-expected earnings and improved revenue over its second quarter. Earnings of $1.96 a share came in 6 cents better than estimated. Sales increased 7.2% to $6.7 billion, $30 million higher than consensus.

Honeywell International Inc.  (HON) - Get Report moved slightly lower on Friday even after reporting earnings and sales growth. Profit increased to $1.80 a share from $1.70, while sales rose nearly 1% to $10.08 billion. Analysts anticipated $1.78 a share on $9.88 billion in sales. CEO Darius Adamczyk said the company worked toward future growth through "new product introductions, additions to the sales organization, and more than $115 million of restructuring funding."

Honeywell also increased full-year revenue targets to $39.3 billion to $40 billion and earnings guidance to $7 to $7.10. Both wrapped around consensus of $39.4 billion in sales and $7.08 a share in profit. 

Schlumberger Ltd.  (SLB) - Get Report  increased more than 1% after topping earnings and sales estimates and announcing plans to buy a majority state in Russia's Eurasia Drilling. The oil company earned 35 cents a share over its recent quarter, 5 cents above expectations. Revenue increased 4.2% to $7.46 billion and beat consensus by $220 million. Schlumberger anticipates strong growth in North America in the second half of the year. 

eBay Inc. (EBAY) - Get Report   fell 4% after a quarterly performance that met estimates, but did not beat them. Adjusted earnings rose to 45 cents from 43 cents a share in the year-ago quarter. Revenue increased 4.5% to $2.33 billion, matching consensus. The online auction site anticipates adjusted third-quarter earnings of 46 cents to 48 cents a share, meeting estimates on the high-end. 

Schlumberger and General Electric are holdings in Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio. Want to be alerted before Cramer buys or sells SLB or GE? Learn more now.

Crude oil prices were lower ahead of weekly drilling activity data to be released Friday afternoon. A weekly count on active oil rigs drilling for crude in the U.S. will be released by Baker Hughes at 1 p.m. The count of active oil rigs rose by two to 765 in the previous week, according to Baker Hughes. The number of active oil rigs has more than doubled from the same time a year earlier.

West Texas Intermediate was down 0.8% to $46.73 a barrel on Friday morning. 

Eat, Drink and Talk Money with Jim Cramer

Meet Jim Cramer at an exclusive reception at his Bar San Miguel in Brooklyn, N.Y., on Tuesday, July 25, from 6:30 p.m. To 9 p.m.

The evening will start with a screening of Jim's CNBC show Mad Money. Afterwards, Jim will join the party fresh off of the CNBC set to mingle, take photos and answer your investing questions.

Tickets include dinner, drinks and an autographed copy of Jim's book Get Rich Carefully.

Click here for more information or to buy tickets.

Where: Bar San Miguel, 307 Smith St., Brooklyn, N.Y.

When: Tuesday, July 25, 6:30 p.m. to 9 p.m.