Robinhood, Amazon, Apple, Roku and more
Vlad Tenev, CEO and co-founder of Robinhood Markets, Inc., is displayed on a screen during his company’s IPO at the Nasdaq Market site in Times Square in New York City, USA, July 29, 2021.
Brendan McDermid | Reuters
Check out the companies making headlines in pre-market trading on Friday.
Apple – Apple’s stock price fell 2% after CFO Luca Maestri said supply chain problems would hurt third-quarter sales by as much as $ 8 billion. However, many Wall Street analysts remained positive about the company after its recent earnings report exceeded expectations. An analyst said any weakness in the stock is a buying opportunity.
Amazon – Shares fell more than 9% after Amazon revealed weaker-than-expected revenue guidance for the second quarter. The tech giant also posted a $ 7.6 billion loss on its investment in Rivian, which lost more than half of its value in the quarter.
roku Shares of Roku were up more than 4% after the digital media player maker reported sales that exceeded expectations in the last quarter on Thursday. Roku posted revenue of $ 733.7 million. Analysts interviewed by Refinitiv expected $ 718 million.
intel – Shares fell more than 3% after Intel issued weak guidance for its fiscal second quarter, overshadowing higher than expected earnings for the previous quarter.
Robin Hood – Retail brokerage stock fell nearly 10% following a first quarter report that showed declining revenue and monthly active users. CEO Vlad Tenev said the company saw its clients with smaller accounts trade less when the market fell.
Alibaba, pinduodo, baidu – Chinese tech stocks rose after the country’s politicians signaled an easing of crackdown on tech companies. Alibaba gained over 10%, Pinduoduo was up 15%, and Baidu jumped over 8%.
Bristol Myers Squibb – Biopharmaceutical stock fell 1.5% despite an earnings report exceeding expectations. On Friday, Bristol-Myers Squibb revealed that it earned $ 1.96 per share on revenue of $ 11.65 billion. According to Refinitiv, the company would earn $ 1.91 per share on revenue of $ 11.36 billion.
Honeywell International – Stocks rose 2% after Honeywell reported earnings that exceeded expectations. Honeywell posted earnings of $ 1.91 per share on revenue of $ 8.38 billion. Meanwhile, analysts interviewed by Refinitiv expected earnings per share of $ 1.86 on revenue of $ 8.29 billion.
gallons Shares were down 1% even after Chevron posted better-than-expected results for the previous quarter. Chevron posted earnings per share of $ 3.36 per share on revenue of $ 54.37 billion. Analysts interviewed by Refinitiv expected earnings per share of $ 3.27 on revenues of $ 47.94 billion.
Exxon Mobile – Exxon Mobil’s share price fell 1% after the oil and gas company reported lower-than-expected quarterly results. The energy company earned $ 2.07 per share, lower than Refinitiv’s estimates of $ 2.12 in earnings per share. Exxon Mobil reported revenues of $ 90.5 billion, compared with Refinitiv’s forecast of $ 92.7 billion.
– CNBC’s Hannah Miao and Jesse Pound contributed to the reporting.