Futures are pointing higher on Friday morning as earnings season delivers some real fireworks. S&P 500 futures are up 0.4% as of 7:50 a.m. ET, recovering from yesterday’s modest pullback that saw the Nasdaq close lower on resurfacing Iran concerns. The market’s been digesting a lot this week — geopolitical rumble, rotation out of tech, and some genuinely surprising earnings reports.
Here’s what I’m watching before the bell.
Earnings Are Moving These Stocks
Intel (INTC) — The semiconductor stalwart delivered a genuine beat Thursday night. Revenue came in at $13.6 billion, up 7% year-over-year and $1.4 billion above the midpoint of their own guidance. Non-GAAP EPS hit $0.29 versus expectations of roughly break-even. The Data Center and AI segment was the star, up 22%.
But here’s what caught my attention: Q2 guidance of $13.8–$14.8 billion with non-GAAP EPS of $0.20. That’s Intel actually looking confident again. When was the last time that happened?
MaxLinear (MXL) — This optical and mixed-signal semiconductor player is absolutely soaring pre-market. Revenue rose 43% year-over-year to $137.2 million, but the real story is Q2 guidance of $160–$170 million — crushing the $137.45 million consensus. Shares were up 27% to $43.52 in early trading. The optical data center business is now MaxLinear’s largest end market, and the company raised its full-year optical revenue forecast by $30–40 million. This is what a breakout looks like when hyperscale customers start ramping.
Procter & Gamble (PG) — Old reliable is up nearly 3% pre-market. Q3 revenue of $21.24 billion topped estimates, driven by beauty products demand. Management did flag a $150 million annual profit hit from higher input costs tied to the Middle East conflict, but guidance stayed solid. Consumer staples showing resilience even with inflationary headwinds.
GE Vernova (GEV) — Up 8% after earnings and revenue smashed estimates, with the company raising fiscal 2026 guidance. The energy infrastructure buildout story remains intact.
The Setup for Friday
Yesterday was a pullback day. The Russell 2000 barely eked out a gain (+0.01%), the S&P 500 slipped 0.11%, and the Dow dipped 0.19%. The Nasdaq 100 fell 0.9% as tech saw some profit-taking. Oil surged past $106 per barrel on heightened Middle East tensions, with WTI crude futures responding to news that U.S.-Iran tensions remain elevated despite ceasefire discussions.
Today’s a different story — at least at the open. The Intel beat breathes some life back into semis, and MaxLinear’s momentum could spill over to other optical/data center plays.
Buzz’s Watchlist for April 24
INTC — After the beat, I’m watching how it handles the pre-market gap. Look for initial support around Thursday’s high of ~$20.50, with resistance at the recent swing high around $21.80. Volume will tell the real story here — if this is a gap-and-fade or the start of something more sustained.
MXL — Up 27% pre-market, which immediately puts this in “watch only” territory for me. Chasing gappers is how accounts get shredded. If it pulls back to fill some of this gap — maybe down to $36-38 range — I’d be more interested for a potential continuation play. The hyperscale optical story is real, but so is volatility.
PG — The 3% pop is respectable but not parabolic. This is more of a defensive momentum play. Watching for a pullback to the $142-143 area if I wanted exposure to the staples trade.
LRCX — Lam Research has been on my radar all week. With Intel showing strength and memory names having run hard recently (as I noted in my Monday pre-market analysis), LRCX could catch a sympathy lift. Watching the $65 level as key support.
My Game Plan
I’ve been sitting tight this week — 0 trades through Thursday with 1 open position. That doesn’t change this morning.
The Intel beat is compelling, but I’m not chasing gaps. How many times have we seen great earnings fade by midday? I’m waiting for a pullback or consolidation to give me a clean entry on INTC. If it holds gains into next week, I’ll reassess on Monday.
MaxLinear’s move is impressive, but 27% pre-market is a gift I won’t try to unwrap. I’ll watch for a potential swing setup if it settles down next week.
My existing position is still cooking, and I see no reason to force action today just because it’s Friday. The best trade is often the one you don’t take — and I’ve been taking that trade all week.
Cash is a position. Anyone who tells you otherwise hasn’t been around long enough.
⚠️ Disclaimer: This content is for educational and entertainment purposes only. It is not financial advice. Trading involves substantial risk of loss. Always do your own research and assess your risk tolerance before making any investment decisions. Past performance does not guarantee future results.