Vlad Tenev, CEO and co-founder of Robinhood Markets, Inc., appears on a screen during his company’s IPO on the Nasdaq Market in Times Square, New York City, USA, on July 29, 2021.
Brendan McDermid | Reuters
Check out the companies that are making headlines in pre-market trading on Friday.
Apple – Apple’s share price fell 2% after CFO Luca Maestri said supply chain problems would hurt third-quarter sales by as much as $ 8 billion. Still, many Wall Street analysts remained positive about the company after its most recent earnings report, which topped expectations. An analyst said any weakness in the stock is a buy option.
Amazon – Shares fell more than 9% after Amazon revealed weaker-than-expected second-quarter revenue expectations. The tech giant also had 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 rose more than 4% after the digital media player on Thursday reported a sale that exceeded expectations in its most recent quarter. Roku had revenue of $ 733.7 million. Analysts polled by Refinitiv expected $ 718 million.
Intel Shares fell more than 3% after Intel issued weak guidance for its fiscal second quarter, overshadowing stronger-than-expected earnings for the previous quarter.
Robinhood – The retail brokerage stock fell nearly 10% after an initial quarterly report showing declining revenue and monthly active users. CEO Vlad Tenev said the company saw its customers with smaller accounts trade less as the market fell.
Alibaba, Pinduoduo, Baidu – Chinese technology stocks rose after politicians in the country signaled a easing of the repression of technology companies. Alibaba rose more than 10%, Pinduoduo rose 15% and Baidu jumped more than 8%.
Bristol-Myers Squibb – The biopharmaceutical stock fell 1.5% despite an earnings report exceeding expectations. On Friday, the Bristol-Myers Squibb revealed that it earned $ 1.96 per share on a turnover of $ 11.65 billion. According to Refinitiv, the company was predicted to earn $ 1.91 per share on a turnover of $ 11.36 billion.
Honeywell International – Shares rose 2% after Honeywell reported earnings that exceeded expectations. Honeywell earned $ 1.91 per share. share at a turnover of 8.38 billion USD. Meanwhile, analysts surveyed by Refinitiv predicted earnings of $ 1.86 per share. share on a turnover of 8.29 billion USD.
Chevron – Shares fell 1%, even after Chevron had a better-than-expected result for the previous quarter. Chevron had earnings per share of $ 3.36 per share on revenue of $ 54.37 billion. Analysts surveyed by Refinitiv expected earnings of $ 3.27 per share. share on a turnover of USD 47.94 billion.
Exxon Mobil – Exxon Mobil’s share price fell 1% after the oil and gas company reported weaker-than-expected quarterly results. The energy company earned $ 2.07 per share, which is lower than Refinitiv’s estimate of $ 2.12 per share. Exxon Mobil reported revenue of $ 90.5 billion compared to a Refinitive forecast of $ 92.7 billion.
– CNBC’s Hannah Miao and Jesse Pound contributed reporting.