Stock Futures Higher as Dow Closes Out Stellar November

Stock futures are mostly higher on Friday following a strong performance by the Dow Jones Industrial Average in November. The Dow closed the month with a gain of 8.8%, while the S&P 500 rose 8.9% and the Nasdaq Composite jumped 10.7%.

Powell's Speech at Spelman College

Federal Reserve Chairman Jerome Powell is scheduled to speak at Spelman College in Atlanta today. Investors will be closely listening for any indications that the central bank is prepared to halt interest-rate increases.

Stocks to Watch Today:

Tesla Cybertruck Hits the Market

Tesla delivered its initial batch of Cybertrucks to buyers on Thursday. The base model, which CEO Elon Musk refers to as "potentially our best product ever," comes with a price tag of $60,990, higher than expected. While the driving range for the base model stands at 250 miles, higher-end models can reach up to 340 miles on one charge. However, investors were disappointed that the highest-range version did not exceed their expectations, causing Tesla shares to decline by 1.3%.

Dell Technologies Reports Mixed Results

Dell Technologies, a renowned personal-computer maker, reported third-quarter earnings that exceeded expectations but fell short on revenue due to weak demand. The company disclosed that revenue in its client solutions group, mainly comprising PCs, stood at $12.3 billion, an 11% decrease from the previous year and below Wall Street's consensus forecast of $12.9 billion. However, Dell remains optimistic about a rebound in revenue growth and confident in the positive future prospects for their business. Nevertheless, shares fell by 4.1%.

Marvell Technology Reports Strong Third-Quarter Earnings

Marvell Technology, a leading chip company, exceeded expectations with its third-quarter adjusted earnings. Despite a decline of 11% in data-center revenue, which amounted to $556 million, the company outperformed forecasts of $525 million. For the fourth quarter, Marvell expects revenue of $1.42 billion, plus or minus 5%, compared to $1.419 billion the previous year. However, analysts had anticipated revenue of $1.46 billion. As a result, Marvell's shares fell by 5.3%.

Ulta Beauty Delivers Impressive Third-Quarter Results

Ulta Beauty, a renowned beauty company, reported better-than-expected earnings, sales, and same-store sales for the third quarter. Consequently, the company revised its sales and profit outlook for the fiscal year, raising the lower end of its expectations. This positive news led to an 11% jump in Ulta's shares.

Samsara Exceeds Expectations in Fiscal Third Quarter

Samsara, an asset-tracking software provider, surpassed expectations with its revenue and profit for the fiscal third quarter. The company also issued guidance for the fourth quarter that exceeded forecasts. These impressive results caused shares of Samsara to surge by 17%.

UiPath Outperforms Analysts' Expectations

UiPath, an automation-software company, reported fiscal third-quarter adjusted profit and revenue that exceeded analysts' expectations. Notably, annual recurring revenue in the period rose by 24% to $1.38 billion, surpassing the company's forecasted range. As a result, UiPath's stock rose by 13%.

Elastic Experiences Strong Growth in Second Quarter

Elastic, a data analytics company, witnessed a significant increase in its stock price as it reported fiscal second-quarter adjusted earnings and sales that outperformed Wall Street estimates. Furthermore, Elastic anticipates revenue of approximately $320 million in its third quarter, slightly ahead of analysts' forecasts.

Alibaba Group Faces Downgrade, Shares Dip

The U.S.-listed shares of Alibaba Group decreased by 1.3% to $73.89 following the company's downgrade to Equal Weight from Overweight by Morgan Stanley. Additionally, the price target was reduced to $90 from $110.