By Mackenzie Tatananni

Stock futures were falling on Friday as concerns over elevated trade tensions between the U.S. and China overwhelmed a strong first-quarter print from Alphabet. All three major indexes were set to open in the red. Dow futures saw the biggest decline, falling 0.5%.

These stocks were poised to make moves Friday:

Alphabet was up 4.1%. The Google parent reported first-quarter earnings that beat Wall Street's expectations late Thursday. Revenue rose across the company's business segments and was largely in line with analyst estimates. Capital expenditures reached a record $17.2 billion in the quarter on continued investments on artificial intelligence. CEO Sundar Pichai said management was still trying to figure out the business model for Waymo, Google's robotaxi service, as demand steadily increased.

Shares of social media companies that heavily depend on advertising revenue were also on the rise. Pinterest, Reddit, and Meta Platforms were up 4.5%, 2.9% and 2.6%, respectively. AppLovin, the operator of a mobile marketing platform, was up 2.4%.

Tesla was up 0.7%. Transportation Secretary Sean Duffy unveiled a new framework for self-driving cars Thursday afternoon, saying it would "slash red tape and move us closer to a single national standard that spurs innovation and prioritizes safety." This is good news for Tesla, which plans to launch a self-driving cab service in Texas in June and begin producing a Cybercab robotaxi next year.

Palantir was up 0.2% to $107.99 after rising higher earlier in the session. The stock extended its winning streak to three days Thursday, closing up 6.9%. Piper Sandler analysts said the stock appeared to be moving back to its February highs around $125. The analysts also noted that the stock appeared to be breaking out of a falling wedge formation, a bullish pattern that indicates a potential price reversal.

Intel tumbled 7.4%. The chip maker posted a wider first-quarter loss and provided a weak revenue outlook on Thursday. Chief Financial Officer David Zinser told Barron's that the soft guidance was mostly due to customer uncertainty over tariffs. Intel said it would cut costs by trimming back capital expenditures and operating expenses such as marketing and research and development. New CEO Lip-Bu Tan said in a letter to employees that layoffs would start this quarter, but failed to provide details about the number of positions impacted.

T-Mobile was down 5.7%. The telecommunications company reported better-than-expected earnings on Thursday, but its main wireless business grew slower than analysts anticipated. The company added 1.34 million postpaid net customers in the first quarter of 2025, compared with the 1.18 million Wall Street expected. "This is an industry that during [the pandemic] not only weathered it, but actually continued to grow. And I think that's what we're certainly seeing at the moment," Chief Financial Officer Peter Osvaldik told Barron's.

Gilead Sciences reversed earlier losses to rise 0.2%. The pharmaceutical company's first-quarter revenue of came in slightly below Wall Street's forecast, though adjusted earnings of $1.81 a share topped than the $1.78 a share analysts had expected. Gilead has been the best-performing healthcare stock in the S&P 500 over the past 12 months, so expectations were high heading into the report. CEO Daniel O'Day indicated the company wouldn't be badly hurt by potential pharma tariffs, noting that "the vast majority of our intellectual property is in the United States."

Write to Mackenzie Tatananni at mackenzie.tatananni@barrons.com

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(END) Dow Jones Newswires

April 25, 2025 08:36 ET (12:36 GMT)

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