5 stocks to watch on Friday: PayPal, News Corp., Micron and more
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The futures were pointing to a lower open on Friday, as Wall Street looked poised to continue its recent slide. A lower finish would mark the third consecutive day of declines, as investors fret about the possibility of more interest rate hikes from the Federal Reserve. Here are some stocks to watch on Friday:

PayPal (NASDAQ:PYPL) reported Q4 results that topped analysts' expectations, with revenue that rose 7% from last year to $7.4B. The online payment processor also provided a strong forecast, predicting 2023 adjusted EPS of about $4.87. Analysts were looking for $4.76. Meanwhile, the company also announced that CEO Dan Schulman planned to retire at the end of the year.
News Corp. (NWS) (NWSA) missed expectations with its Q2 results. The company reported non-GAAP EPS of $0.14, below projections by $0.04. Revenue fell 7% to $2.5B, while total segment EBITDA dropped 30% to $409M.
Micron (MU) revealed that it is cutting base salaries for top executives. In a regulatory filing, the company added that it will be suspending some bonuses for this year. The plan includes a 20% cut for CEO Sanjay Mehrotra and 15% reductions for executive VPs.
CloudFlare (NET) rallied in premarket trading following the release of its quarterly update. Shares of the web performance and security company surged almost 8% after topping projections with its Q4 results, including revenue that surged 42% from last year. Looking ahead, the company projected Q1 non-GAAP EPS of $0.03-$0.04, compared to a consensus of $0.03.
The release of earnings news prompted a premarket retreat in Expedia (EXPE). The online travel booking service missed projections in Q4 on both the top and bottom lines. Gross bookings rose 17%, but the total of $20.5B came in below the $21.1B that analysts were predicting.


For a look at the broader market, see why Seeking Alpha contributor ANG Traders thinks a recession "is unlikely in 2023."