S&P 500 futures were down 0.52%, Dow Jones Industrial Average futures fell 0.43%, and Nasdaq futures declined 1.4%.
Apple shares tumbled nearly 7% in premarket trading after revenue projections for the iPhone maker's fiscal fourth quarter fell shy of estimates. The tech giant guided for fourth-quarter sales of $49 billion to $51 billion, below estimates of $51.1 billion. Third-quarter iPhone sales also came in slightly below estimates, with 47.5 million units moved over the three months.
Microsoft slid more than 3% as revenue projections came in weaker than expected. The company anticipates fiscal first-quarter revenue as high as $21.3 billion, below consensus of $22.8 billion. Currency exchange is expected to reduce first-quarter and second-quarter revenue by 5%, the software maker said.
Yahoo! (YHOO) also guided for weaker-than-expected future sales. The Internet company slipped 2.5% after forecasting third-quarter revenue between $1 billion and $1.04 billion, short estimates of $1.07 billion. Yahoo!'s most recent quarter also fell below estimates with net income of 16 cents a share missing by 2 cents. Profit was hurt by higher user acquisition costs.
GoPro(GPRO) - Get Report inched 0.6% higher before the bell after reporting quarterly profit of 35 cents a share, 9 cents above estimates. Revenue surged 71.7% on the back of strong sales in Asian markets. GoPro shipped 1.65 million cameras over the quarter, a 93% increase from a year earlier.
Chipotle(CMG) - Get Report increased nearly 3% even as same-restaurant sales cooled off from explosive gains in recent quarters. The burrito chain earned $4.45 a share, a penny above estimates, while revenue increased 14.3% to $1.2 billion. Comparable-store sales increased 4.3% in the second quarter compared to 10.4% in the first quarter and 17.3% in the year-ago quarter.
Coca-Cola(KO) - Get Report shares were on watch after the beverage giant reported net income of 63 cents a share, 3 cents higher than anticipated. Revenue fell 3.3% to $12.16 billion, as currency exchange reduced the top-line by seven percentage points.
Boeing(BA) - Get Report shares added 1.8% after beating quarterly profit estimates by a wide margin. The aerospace company earned $1.62 a share, 25 cents above estimates, on revenue 11.3% higher than a year earlier. Full-year guidance was reduced to factor in the impact of necessary fixes to its KC-46 tankers.
AT&T (T) - Get Report and DirecTV's (DTV) proposed merger has received official recommendation from Federal Communications Commission Chairman Tom Wheeler. AT&T's $49 billion purchase will come with strings, though, as the combined company will be required to submit interconnection agreements and network performance reports to the agency.
Medical equipment developer Thoratec(THOR) - Get Report jumped 10% on news St. Jude Medical (STJ) will acquire it for $63.50 a share, or a total $3.4 billion. The acquisition represents a 10% premium on Tuesday's closing price.