Stock futures were falling sharply Friday ahead of the expected announcement of President Donald's Trump pick to lead the Federal Reserve. Betting markets see former Fed governor Kevin Warsh as the heavy favorite.

These stocks were poised to make moves Friday:

Apple stock edged down 0.4% in premarket trading after the iPhone maker posted fiscal first-quarter earnings that beat Wall Street estimates as revenue jumped 16% to $143.8 billion. Revenue for the iPhone in the period jumped 23% to a record $85.27 billion from $69.14 billion a year earlier and was better than estimates of $78.19 billion. Sales in China gained $25.5 billion during the quarter, up 38% from a year earlier. The stock slipped, however, on concerns over rising costs, particularly for memory components.

Sandisk stock surged 19% ahead of the open after the memory supplier reported fiscal second-quarter adjusted profit that smashed analysts' estimates. The company, that was spun off from Western Digital last year, said it expects third-quarter adjusted earnings of $12 to $14 a share, well above Wall Street forecasts of $5.11. "The critical role that our products play in powering AI and the world's technology is being recognized," said CEO David Goeckeler.

Western Digital fell 3.3% after the data-storage company posted fiscal second-quarter adjusted earnings of $2.13 a share, up from profit of $1.20 a year earlier and better than analysts' estimates that called for $1.93 a share. Revenue in the period jumped 25% to $3.02 billion on rising AI-powered demand for hard-disk drives. Western Digital said it expects third-quarter revenue of $3.2 billion at the midpoint of its range. Analysts has been expecting revenue of $2.98 billion.

KLA Corp., which makes equipment for the semiconductor industry, fell 8.5% ahead of the opening bell after reporting second-quarter earnings and revenue that beat analysts' forecasts. Coming into the earnings report, KLA had risen 39% this year and 127% over the past 12 months.

Microsoft fell another 0.4% in premarket trading after shares of the software giant sank 10% Thursday on concerns over slowing growth for the company's Azure cloud computing platform. The stock's decline was its largest single-day percentage drop since March 16, 2020, when it fell nearly 15%, according to Dow Jones Market Data. Microsoft lost $357 billion in market cap Thursday, it's widest one-day market value decline on record.

Meta Platforms, in contrast, closed up 10% on Thursday as the parent company of Facebook and Instagram issued a forecast that called for better-than-expected first-quarter revenue guidance and said it expects to significantly increase spending on artificial intelligence. The stock has risen almost 12% in January, putting it on pace for its best month since June 2025, according to Dow Jones Market Data. In premarket trading Friday, Meta fell 1.8%.

Visa reported fiscal first-quarter earnings and revenue that beat Wall Street estimates, boosted by strong card user spending. Shares of the payments company fell 1.9% in the premarket session.

Deckers Outdoor jumped 14% after the owner of shoe brands Ugg and Hoka, reported fiscal third-quarter earnings that topped analysts' forecasts and issued fiscal 2026 guidance higher than expectations. Hoka net sales in the third quarter jumped 19% to $628.9 million.

Earnings reports are expected Friday from Exxon Mobil, Chevron, American Express, Verizon Communications, Regeneron Pharmaceuticals, Colgate-Palmolive, SoFi Technologies, and Charter Communications.