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Amazon, Twitter, Exxon, Chevron, Trevor Lawrence: 5 Things You Must Know

Stock futures decline following another record closing high for the S&P 500; Amazon posts a blowout quarter while a miss on user growth sinks shares of Twitter; Exxon and Chevron report earnings.

Here are five things you must know for Friday, April 30:

1. -- Stock Futures Fall as Traders Weigh Earnings

Stock futures declined Friday following another record closing high for the S&P 500 as investors paused at month's end to weigh earnings from the likes of Amazon.com  (AMZN) - Get Amazon.com, Inc. Report and Twitter  (TWTR) - Get Twitter, Inc. Report.

Contracts linked to the Dow Jones Industrial Average declined 164 points, S&P 500 futures were down 24 points and Nasdaq futures fell 103 points.

The benchmark 10-year Treasury yield edged higher to 1.645% early Friday.

The S&P 500 closed at a record high Thursday after economic data pointed to a brisk recovery for the U.S. economy in the first quarter and earnings from Apple  (AAPL) - Get Apple Inc. (AAPL) Report and Facebook  (FB) - Get Facebook, Inc. Class A Report crushed expectations. 

The U.S. economy expanded at a 6.4% annualized rate in the first three months of 2021 amid fresh stimulus from the U.S. government, continued support from the Federal Reserve and the rollout of COVID-19 vaccinations.

With most signs pointing to a rebounding U.S. economy, traders have turned their focus to corporate earnings, which largely have exceeded Wall Street’s expectations. According to Bloomberg, of the 284 companies in the S&P 500 that have reported results so far, 89% have met or topped estimates.

2. -- Amazon Smashes Expectations as Revenue Surges 44%

Amazon.com  (AMZN) - Get Amazon.com, Inc. Report reported first-quarter earnings that easily topped estimates, thanks in part to a surge in revenue from its web services division.

The stock rose 2.47% in premarket trading Friday to $3,557.09.

Jim Cramer Says Ignore Amazon at Your Own Peril

Revenue jumped 44% from last year to $108.5 billion, topping analysts' estimates of $104.55 billion. First-quarter earnings were a record $15.79 a share, also higher than analysts’ estimates.

Looking into the current second quarter, Amazon said it expects operating income of between $4.5 billion to $8 billion on revenue in the range of $110 billion to $116 billion, higher than expectations.

Sales at Amazon Web Services, the group's market-leading cloud business, rose 32.1% to $13.5 billion.

The company said Prime Day, Amazon's annual shopping bonanza, will take place in the second quarter. 

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"Overall, there is not much to complain about here, as Amazon's blowout quarter was driven by broad-based strength across the business, and it proved what we have been saying in that Amazon is so much more than a pandemic play," said Jim Cramer and the Action Alerts PLUS team, which holds Amazon in its portfolio. 

3. -- Twitter Slumps on User Miss, Lukewarm Forecast

Twitter  (TWTR) - Get Twitter, Inc. Report posted better-than-expected first-quarter earnings and revenue but the stock fell sharply after the social media company fell short on expectations for user growth and issued a lukewarm forecast.

Twitter reported earnings of 16 cents a share, 2 cents higher than analysts' forecasts. Revenue rose 28% in the first quarter to $1.04 billion, but lagged the growth at digital advertising rivals such as Facebook and Alphabet's  (GOOGL) - Get Alphabet Inc. Class A Report Google.

Twitter’s total number of monetizable daily users grew by 7 million from the fourth quarter to 199 million, but fell shy of analysts’ expectations of 200 million.

For the second quarter, Twitter said it expects revenue of between $980 million and $1.08 billion. Analysts have been calling for $1.05 billion.

The stock sank 12.37% to $57.04 in premarket trading Friday.

4.-- Friday's Calendar: Exxon and Chevron Earnings, Consumer Sentiment

Chevron  (CVX) - Get Chevron Corporation Report reported first-quarter adjusted earnings of 90 cents a share, 1 cent ahead of analysts' estimates.

Exxon Mobil  (XOM) - Get Exxon Mobil Corporation Report earned 65 cents a share on an adjusted basis in the first quarter, topping forecasts of 60 cents.

Earnings are also expected Friday from AbbVie  (ABBV) - Get AbbVie, Inc. Report, Colgate-Palmolive  (CL) - Get Colgate-Palmolive Company Report, LyondellBasell Industries  (LYB) - Get LyondellBasell Industries NV (LYB) Report, Clorox  (CLX) - Get Clorox Company Report, Newell Brands  (NWL) - Get Newell Brands Inc. (NWL) Report and Goodyear Tire & Rubber  (GT) - Get Goodyear Tire & Rubber Company Report.

AbbVie is a holding in Jim Cramer's Action Alerts PLUS member club. Want to be alerted before Jim Cramer buys or sells the stock? Learn more now.

The U.S. economic calendar Friday includes Personal Income and Outlays for March at 8:30 a.m. ET, Chicago PMI for April at 9:45 a.m. and Consumer Sentiment for April at 10 a.m.

5. -- Jaguars Select Clemson QB Trevor Lawrence With First Pick in NFL Draft

The Jacksonville Jaguars selected, as expected, quarterback Trevor Lawrence of Clemson with the first pick in the NFL draft on Thursday night.

Lawrence went 34-2 as the starter at Clemson and led the Tigers to three Atlantic Coast Conference titles and a national championship in 2019.

The New York Jets chose Brigham Young quarterback Zach Wilson with the second pick in the draft.

Is Trevor Lawrence a Generational Quarterback?