Updated from 5:53 a.m. with earnings from General Electric.
Here are 10 things you should know for Friday, April 22:
1. -- U.S. stock futures were mixed Friday after Wall Street's three-day winning streak ended after the earnings from a number of corporate giants disappointed investors.
European shares fell in while Asian stocks ended the session mixed. The Shanghai Composite Index gained 0.2%.
Oil prices in the U.S. early Friday rose 0.2% to $43.29 a barrel.
2. -- The economic calendar in the U.S. Friday is empty.
3. -- U.S. stocks on Thursday declined as a barrage of earnings reports that weren't as good as investors expected dragged Wall Street lower.
The S&P 500 fell 0.52%, the Dow Jones Industrial Average fell 0.63%, falling below 18,000 again, and the Nasdaq slid 0.05%.
Alphabet posted $20.26 billion in gross revenue for the period, while Wall Street expected $20.32 billion. Earnings per share of $7.50 were well below forecasts of $7.96 per share.
Though gross sales disappointed Wall Street, they represented a 17% gain from the first quarter of last year.
"The primary driver was the increased use of mobile search by consumers," Chief Financial Officer Ruth Porat said.
Alphabet stock was trading near all-time highs before the report "leaving no wiggle room for a disappointment on what were very high expectations," said Jim Cramer, TheStreet's founder and manager of the Action Alerts PLUS portfolio, which owns Alphabet.
"While some bears may point toward the operating expense growth in the quarter," Cramer added, "we note that this is due to a sizable yet targeted increase in head count as the company ramps [up] its efforts across cloud, apps and other high-priority areas."
The stock fell 5.2% in premarket trading.
5. -- Microsoft (MSFT - Get Report) became the latest victim of the slump in PCs during its fiscal third quarter. It did, however, show some signs it may be correctly adjusting to the changing tastes of consumers, both retail and commercial.
The software giant reported adjusted earnings per share of 62 cents and revenue of $22.08 billion in the quarter ended March 31, slightly missing analyst estimates of 64 cents and $22.09 billion, respectively. The figures represent no change in per-share earnings and a slight revenue increase from the $21.8 billion in the same period a year earlier.
The company likely would have beaten estimates were it not for an unspecified tax charge during the quarter.
Microsoft shares fell 4.7% in premarket trading on Friday.
"While investors wanted more, Microsoft had an impressive quarter and repeated what they did in prior quarters related to the combination of cloud, Azure and Windows," said Patrick Moorhead, an analyst with Moor Insights & Strategy, in an e-mail.
6. -- Shares of Daimler (DDAIY) , the maker of Mercedes-Benz, fell sharply after it was asked by the U.S. Department of Justice to conduct an internal investigation into its diesel emission testing in the U.S.
The request comes a day after Volkswagen (VLKAY) came to a settlement with the DOJ over its emission-rigging scandal and in a week where Mitsubishi Motors (MMTOF) admitted to rigging fuel-economy tests.
In a statement, Daimler said it will investigate "possible indications of irregularities and of course take all necessary actions."
The carmaker also said Friday that first-quarter earnings before interest and tax fell to €2.7 billion ($3.04 billion), from €2.9 billion in the first quarter of 2015. The drop in earnings was attributed to a decrease in sales of Mercedes S-and E-class models.
7. -- Starbucks (SBUX - Get Report) reported fiscal second-quarter adjusted earnings of 39 cents a share, matching the forecast of analysts, while total revenue rose 9.4% year over year to $4.99 billion.
Starbucks also reiterated its full-year revenue growth outlook of 10%, but raised its earnings guidance to $1.88 to $1.89 a share from its previous estimate of $1.87 to $1.88.
Starbucks shares fell about 2.7% in premarket trading. The harsh reaction by investors, who have bid up Starbucks shares by 23% in the past year vs. a 1% drop for the S&P 500, likely reflects the company seeing slowing sales growth around the world recently.
Starbucks reported that its same-store sales in the Americas rose 7% in the quarter, cooling from a 9% increase in the first quarter. Analysts expected a same-store sales increase of 7.4%.
Starbucks' same-store sales in the China, Asia Pacific segment gained 3%, down from 5% growth in the first quarter, and below estimates for a 4.6% increase.
"Starbucks has no room for a same-store sales miss, even a marginal one -- sustainability (and consistency) of a high-single digit percentage same-store sales growth, 10% plus overall sales growth and 15% to 20% earnings per share growth algorithm is ultimately key [for the stock]," said Jack Mohr, research director of Action Alerts PLUS, which own Starbucks shares.
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8. -- Visa (V - Get Report) shares fell 4% in premarket trading on Friday after the credit-card processor boosted the up-front cash payment for former subsidiary Visa Europe and cut its revenue forecast due to concerns about a weaker global economy and falling oil prices.
Visa said it now projects total sales will grow no more than 8%, down from a November prediction of potential double-digit gains.
"The continued headwinds of the strong U.S. dollar, lower oil prices, and an uneven global economy are driving continued weak cross-border spend, but domestic spend continues at reasonably strong levels consistent with last quarter," CEO Charlie Scharf said in a statement. "The U.S. consumer remains strong, but we see weakness in China, Brazil, and oil based economies."
"All in, we are encouraged by the company's underlying operating trends, and while we do not discount the company's modestly reduced fiscal 2016 net revenue guidance, we believe this positions the company well for earnings beats and upward guidance revisions in the coming quarters," said Jim Cramer, TheStreet's founder and manager of the Action Alerts PLUS portfolio, which owns Visa.
Last week, Apple's iBooks Store and iTunes Movies were shut down in China, just six months after they were started there. Initially, Apple apparently had the government's approval to introduce the services. But then a regulator, the State Administration of Press, Publication, Radio, Film and Television, asserted its authority and demanded the closings, the Times reported, citing two people who spoke on the condition of anonymity.
"We hope to make books and movies available again to our customers in China as soon as possible," an Apple spokeswoman said in a statement.
Revenue was $27.6 billion.
GE said industrial operating profit fell 3% to $2.9 billion.
The stock fell 1% in premarket trading on Friday.
, Caterpillar (CAT - Get Report) , Honeywell (HON - Get Report) , American Airlines (AAL) , McDonald's (MCD - Get Report) and Kimberly-Clark (KMB - Get Report) .