Wall Street remains unenthusiastic after the Dow experiences its poorest day of the year.

BY THE NUMBERS

On Friday, U.S. stock futures remained relatively unchanged, one day after the S&P 500 experienced its worst session of the year, dropping 622 points or 1.8%. The S&P 500 and the Nasdaq Composite both sank 2.1% and 2.9%, respectively, on Thursday. The Nasdaq Composite further slipped into a correction, while the Dow Jones Industrial Average was down around 7% from its January highs. Despite this, all three major stock benchmarks were lower for the week heading into Friday's open. (Source: CNBC)

Investors were left confused and dumping risky assets after heightened tensions between Russia and Ukraine. The inverted yield curve, which moves inversely to price, continued to move lower to around 1.94%. Meanwhile, traders are concerned about surging inflation and how the Federal Reserve plans to fight it. St. Louis Fed President James Bullard cautioned that without interest rate hikes, inflation could become an even more serious problem. Bullard has called for a full percentage point in rate increases by July.

IN THE NEWS TODAY

Russia announced large-scale nuclear force drills on Friday amid escalating tensions with the West, as the US issued its most detailed warnings yet about the potential for a Russian invasion of Ukraine. The US also warned that Russia could use false claims, including allegations about the conflict in eastern Ukraine, as a pretext for an invasion. (AP & CNBC)

On Friday, SPCE announced that Chamath Palihapitiya would resign from his positions as chairman and board member to concentrate on other obligations. Despite rising slightly in the premarket, Virgin Galactic closed down 10% in the previous session. Over the past 12 months, the stock, which Palihapitiya helped take public through a SPAC deal more than two years ago, has fallen roughly 80%. (Reuters)

Roku's stock price dropped more than 25% in premarket trading on Friday, following the company's announcement that its quarterly revenue had fallen short of forecasts. The decline came after an early pandemic surge in demand for the video streaming device maker's services began to fade with the easing of Covid restrictions. Additionally, Roku issued a weaker-than-expected outlook, citing higher component prices and supply chain disruptions. The stock had already lost 68% of its value over the past 12 months. (Source: CNBC)

After the bell Thursday, Shake Shack reported that sales for the just-ended quarter matched estimates and a per-share loss was narrower than expected. However, in the premarket, the burger chain's shares dropped 15% after it forecast current quarter revenue below estimates due to the omicron variant keeping diners away and leading to temporary closures.

Warren Buffet stated in a letter to journalists that Berkshire Hathaway (BRK.a) had no prior knowledge of Microsoft (MSFT) working on a $68.7 billion takeover of Activision Blizzard (ATVI) before the conglomerate invested in the videogame maker. (Barron’s) Additionally, Activision CEO Bobby Kotick has a secret company that spent large sums of money to support GOP campaigns. (CNBC)

The Senate passed a short-term government funding bill, sending it to President Joe Biden's desk hours before an end of the day Friday shutdown deadline. The stopgap bill will keep the government running through March 11. Meanwhile, the Education Department has forgiven $415 million in student debt for borrowers who attended for-profit schools.

STOCKS TO WATCH

Despite a narrower-than-expected quarterly loss and revenue that beat estimates, DKNG tumbled 13% in the premarket. The sports betting company projects a wider-than-expected adjusted loss for the full year as costs continue to rise.

Outback Steakhouse parent company beat estimates with quarterly earnings and revenue, reinstated its quarterly dividend, and announced a new $125 million share buyback program. The stock surged 6.6% in premarket action.

The heavy equipment maker reported quarterly earnings of $2.92 per share, exceeding the $2.26 consensus estimate, and revenue also surpassed analyst predictions. Additionally, the company raised its annual profit forecast due to strong demand and higher prices.

Despite beating estimates for quarterly earnings and revenue, the stock slid 6.3% in the premarket as guidance for current-quarter profit margin was slightly lower than expected.

DuPont and Celanese reached a $11 billion deal for the sale of the majority of DuPont's materials unit.

In premarket trading, Pilgrim's Pride (PPC) fell 14.8% after JBS, the Brazilian meatpacker that owns an 80% stake in the company, abandoned plans to buy the remaining 20% of the poultry producer. The two sides were unable to agree on the terms of the deal.

Intel CEO Pat Gelsinger stated that the company aims to achieve double-digit annual revenue growth in three to four years. Additionally, he mentioned that Intel may be interested in joining a potential consortium to purchase British chipmaker Arm. Despite this, Intel's stock price fell by 1% in premarket trading.

NortonLifeLock fell 1% in the premarket after NLOK pushed back the expected completion date of its deal to buy rival cybersecurity company Avast to April 4 from Feb. 24, citing the need for more time to obtain regulatory approvals in the U.K. and Spain.