Dow Holds Steady in Futures, Surges Nearly 50% After Gamestop Results

In extended trading, GameStop Corp $GameStop (GME.US)$ rose 47.4 percent after posting fourth-quarter earnings of $0.16 per share versus an expected loss of $0.13 per share on reported revenue of $2.23 billion versus expectations of $2.18 billion.

Following the results, Meme stock rose, Bed Bath & Beyond Inc $Bed Bath & Beyond Inc (BBBY.US)$ gained 7.4 percent and AMC Entertainment Holdings Inc $AMC Entertainment (AMC.US)$ gained 0.2 percent.

Nike Inc $Nike (NKE.US)$ shares fell 1.9 percent after the company reported fourth-quarter earnings of $0.79 per share on expected revenue of $12.4 billion, compared with expectations of $11.47 billion and $0.55.

Paysign Inc $PaySign (PAYS.US)$ rose 2.6 percent after posting fourth-quarter earnings of $0.01 per share, in line with expectations, while revenue of $10.6 million was above estimates of $10.77 million. The company also forecast revenue for the first quarter of 2023 in the range of $10.2 million to $10.3 million, below estimates of $10.544 million.

On the earnings front, companies such as Tencent Holdings Ltd ADR $Tencent (TCEHY.US)$ and Winnebago Industries Inc $Winnebago Industries (WGO.US)$ are expected to report quarterly results.