Stock futures remained slightly lower on Friday morning after a monthly reading on consumer activity in the U.S. showed a tendency to save instead of spend. 

S&P 500 futures were down 0.11%, Dow Jones Industrial Average futures fell 0.07%, and Nasdaq futures slid 0.31%.

Consumer spending rose just 0.1% in March, according to the Commerce Department, half what economists had expected. Incomes continued to march upward, notching a 0.4% increase last month. The savings rate rose to 5.4% from 5.2%, its highest level since late 2012.  

Markets sold off into the close on Thursday after billionaire investor Carl Icahn said he no longer had any stake in Apple (AAPL - Get Report) . The Dow suffered its worst day since Feb. 23.  

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Crude oil was trading around 2016 highs on Friday morning, buoyed by a report from the U.S. Department of Energy that showed a decline in domestic output. However, upward momentum could be capped after Deutsche Bank analysts warned an impending rise in production from the Organization of the Petroleum Exporting Countries could prevent further rallies. 

"A sustainable rise in OPEC production may be just around the corner, and ... the rally may pause," Deutsche Bank analysts said.

West Texas Intermediate crude oil was trading 1% higher at $46.51 a barrel on Friday morning. 

Exxon Mobil (XOM - Get Report) was slightly higher after beating low-bar quarterly estimates. Net earnings of 43 cents a share were sharply lower than $1.17 a year earlier. Analysts had expected profit of 31 cents a share. Strength in Exxon's chemicals business helped to offset weakness in its energy business.

Fellow oil producer Chevron (CVX - Get Report) fell 1% before the bell following a disappointing quarter. A loss of 39 cents a share was wider than an expected loss of 17 cents. Revenue of $23.55 billion came in below estimates of $24.5 billion. Energy companies have been under pressure as crude oil suffers a prolonged period of low prices.

Rovi ( ROVI) announced Friday it reached an agreement to buy TiVo ( TIVO - Get Report) for around $1.1 billion in a cash-and-stock deal. The per-share bid of $10.70 marks a 14% premium to TiVo's Thursday close. The companies expect annual cost synergies of at least $100 million.  

Amazon  (AMZN - Get Report) soared 12% in premarket trading after returning to a profit in its first quarter. The e-commerce giant earned $1.07 a share in its recent quarter compared to a loss of 12 cents a year earlier. Analysts expected per-share earnings of 58 cents. Amazon also forecast second-quarter sales between $28 billion and $30.5 billion, above consensus of $28.3 billion. 

Gilead Sciences  (GILD - Get Report) tumbled more than 5% after quarterly revenue missed expectations. The drugmaker reported first-quarter revenue of $7.8 billion, 2.6% higher than the year-ago quarter but below estimates of $8.06 billion. Adjusted earnings of $3.03 a share came in below expectations of $3.15 a share.

LinkedIn (LNKD) jumped 15% after topping earnings estimates for its first quarter. The professional social network earned an adjusted 74 cents a share, better than an expected 60 cents a share. Revenue jumped 35%. 

Groupon (GRPN - Get Report) fell 5% after quadrupling quarterly losses on increased promotional expenditures. The online discounts site expects its marketing efforts to begin reaping rewards in 2017. Groupon reported a loss of 8 cents a share compared to a year-earlier loss of 2 cents. An adjusted loss of 1 cent a share compared to profit of 3 cents in the year-ago quarter.  

Caterpillar (CAT - Get Report) was on watch after announcing plans to shutter five U.S. plants, eliminating around 820 jobs. The construction machinery maker has been forced to reduce production in the face of weaker demand.