Will tech earnings play spoiler on Wall Street?

IN THE NEWS TODAY

Following the first down day for the Dow and S&P 500 in four sessions, U.S. stock futures were mixed. Ahead of Friday trading on Wall Street, the Dow and S&P look to post their third week of gains in the past four weeks. (CNBC)

Three Dow stocks — Caterpillar (CAT), General Electric (GE), and McDonald's (MCD) — report earnings this morning. Microsoft (MSFT) and Google-parent Alphabet (GOOGL), late Thursday, issued weaker-than-expected profits and revenues. Those tech stocks were sharply lower in the premarket. (CNBC)

U.S. crude was higher this morning, and on track for its third consecutive weekly gain, as market sentiment turned more upbeat despite persistent oversupply. Since the Feb. 11 bottom, depressed oil prices have surged about 57 percent. (Reuters)

The U.S.-led coalition air campaign has incinerated about $500 million of terror group ISIS's cash stockpiles and cut its oil revenues by an estimated 50 percent, according to a senior defense official. (USA Today)

President Barack Obama meets with British Prime Minister David Cameron in London today. Obama is expected to argue against a U.K. exit from the European Union, echoing the sentiments he expressed in an op-ed in The Telegraph.

The U.K. government is warning lesbian, gay, bisexual, and transgender (LGBT) people about traveling in parts of the United States, in the wake of controversial legislation passed in North Carolina and Mississippi. (CNBC)

Uber has agreed to pay $100 million to settle a class action lawsuit over how it classifies its drivers in two U.S. states, California and Massachusetts, in a closely-watched case that could have threatened the taxi hailing service's business model. (CNBC)

Daimler, the owner of Mercedes-Benz, has opened an investigation into its emissions testing process at the request of the U.S. Department of Justice, following a class-action lawsuit filed against the German automaker in February. (FT)

After reaching a emissions deal with U.S. authorities to compensate customers and fix non-compliant vehicles, Volkswagen increased its provision for costs related to the scandal to $18.5 billion, nearly three times its prior provision. (DW.com)

Valeant (VRX) to hire Joseph Papa, boss of Dublin-based Perrigo (PRGO), as its CEO. The troubled Canadian drugmaker said in March CEO Michael Pearson was leaving, just weeks after returning from a medical leave. (Reuters)

The director of the FBI suggested the agency paid at least $1.3 million to an undisclosed group to help hack into the encrypted iPhone used by one of the San Bernardino terrorists, after Apple (AAPL) fought in court not to help the government. (NY Times)

Apple's iBooks Store and iTunes Movies were shut down in China last week, just six months after they were started there. The tech giant had apparently thought it had approval from the Chinese government. But a regulator there demanded the closures. (NY Times)

Prince's decades-long music career could be far from over, despite his passing. Media reports indicate Prince created enough unreleased music during his life that his estate could issue an album a year for a century. (CNBC)

BY THE NUMBERS

Shares of Advanced Micro Devices (AMD) surged about 20 percent in premarket trading. The chipmaker lost 12 cents per share, a penny less than expected. Revenue exceeded forecasts. The company sees extremely strong current quarter sales.

Dell's cybersecurity unit, SecureWorks, raised a less-than-expected $120 million in the first U.S. IPO of a tech company in 2016, amid investor skepticism over its profit margins and prospects. The stock is expected to begin trading today.

Mobile gaming revenues are expected to outstrip the money generated by console and PC games in 2016 for the first time. Games from tablets and smartphones will generate a total of $36.9 billion in revenues. according to research firm Newzoo.

Sears (SHLD) plans to close 78 Sears and Kmart stores over the next few months, amounting to about 5 percent of its current stores. The retailer has been moving to shrink its operations, and had said in February it was seeking faster staff cuts and store closings.

STOCKS TO WATCH

Starbucks (SBUX) matched estimates with quarterly profit of 39 cents per share, with revenue just slightly shy of forecasts. That revenue miss is weighing on shares despite increased mobile business and higher domestic demand.

Visa (V) came in a penny above estimates with adjusted quarterly profit of 68 cents per share, while revenue was slightly above forecasts. The credit card issuer did lower its full-year revenue growth forecast. The stock was lower in the premarket.

Schlumberger (SLB) reported adjusted quarterly profit of 40 cents per share, a penny above estimates, with revenue essentially in line. The oilfield services company did see profit cut by nearly half compared to a year earlier as oil prices dropped. The stock was under pressure.

Norfolk Southern (NSC) trounced estimates by 32 cents with quarterly profit of $1.29 per share, while the railroad operator's revenue also came in above forecasts. Cost cuts and other streamlining measures helped the company's results. The stock was higher in the premarket.

Hanesbrands (HBI) beat estimates by 4 cents with adjusted quarterly profit of 26 cents per share, with revenue slightly above consensus forecasts. The apparel maker was helped by better activewear sales and savings from acquisitions. The stock was getting a boost.

Skecher's (SKX) saw its quarterly results come in 9 cents above estimates at 63 cents per share. The shoe maker's revenue was also well above estimates, pushing the stock up sharply in premarket trading. But the company warned on revenue guidance.

WATERCOOLER

World leaders converge on U.N. headquarters in New York to sign the historic Paris climate accord. The ceremony is just one of many of today's Earth Day events. (USA Today)