Stock Market

The Amazon logo on a locker in Annapolis, Maryland, on February 2, 2023, ahead of earnings report.
Jim Watson | AFP | Getty Images

Check out the companies making headlines in premarket trading.

Capital One — Shares were down 3.3% after disappointing quarterly earnings. The company earned an adjusted $2.31 per share, well below a StreetAccount forecast of $3.75 per share. Capital One executives cited difficulty with lending throughout the quarter.

Snap — Shares tumbled 18.2% after the company’s first-quarter revenue fell short of Wall Street’s expectations. Snap’s revenue fell 6% from the prior year to $989 million, whereas analysts had expected $1.01 billion, according to Refinitiv data.

Amazon — Amazon dipped 2.4% Friday morning after the e-commerce giant cited concerns over its cloud business going forward. That overshadowed a revenue beat for the first quarter.

T-Mobile — The telecommunications company were down about 2% Friday morning after reporting quarterly results. The company beat on adjusted earnings per share with $1.58 against a StreetAccount estimated $1.52. However, T-Mobile missed estimates on revenue and monthly subscriber additions.

Exxon Mobil — Shares added 1% in the premarket after the oil giant reported a record first-quarter profit. Exxon Mobil’s adjusted earnings per share came in at $2.83, topping analysts’ estimates of $2.59, per Refinitiv. Its revenue of $86.56 billion also beat the $85.41 billion expected.

Chevron — Shares of Chevron dipped slightly in the premarket despite a first-quarter earnings beat. The oil major’s adjusted earnings per share was $3.55 versus the $3.41 expected by analysts polled by Refinitiv. Revenue also beat, but net profit in Chevron’s oil and gas division dropped 25% on the drop in oil prices.

Intel — Shares of the chipmaker rose 6% in premarket trading despite Intel reporting a net loss of $2.8 billion in the first quarter. The company did beat Wall Street estimates for the quarter, with Intel reporting an adjusted loss of 4 cents per share on $11.72 billion of revenue. Analysts surveyed by Refinitiv were looking for a loss of 15 cents per share on $11.04 billion of revenue.

First Solar — The solar panel manufacturer declined more than 8% in early trading after an earnings miss. The company reported 40 cents per share adjusted on $548.29 million in revenue, while a StreetAccount estimate called for 99 cents per share.

Alteryx — Software company Alteryx fell 18% in premarket trading. The company reported an adjusted loss of 19 cents per share while analysts polled by StreetAccount estimated a loss of 26 cents. Management told investors that the company planned to layoff 11% of staff as part of a cost reduction plan.

L3 Harris Technologies — The tech and defense company gained 2.5% after narrowly beating earnings estimates, with an adjusted $2.86 per share against a StreetAccount estimate of $2.85 per share.

First Republic — The beleaguered bank added 5.3% on Friday on news that U.S. officials were in the process of assembling a rescue plan. The lift comes after the bank said deposits fell a staggering 41% throughout the latest quarter on Monday.

Pinterest — Shares of the image sharing platform tumbled 14% in premarket after the company issued disappointing guidance for the quarter ahead. Pinterest said second-quarter revenue growth will be lower than expected amid higher operating expenses. Pinterest’s first-quarter earnings and revenue did beat expectations, however.

— CNBC’s Hakyung Kim, Samantha Subin, Jesse Pound, Yun Li and Michelle Fox contributed reporting

Articles You May Like

Texas Capital beefs up public finance team with five hires
Washington, D.C., credit upgraded
Will Google be broken up?
Israel sends thousands more troops into Lebanon
Peru has attracted a slew of foreign investors into its credit market. Here’s why