Amazon, Capital One Fall Premarket; Apple, Pinterest, Intel, Exxon Mobil Rise
By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Friday, October 28th. Please refresh for updates.
Amazon (NASDAQ: AMZN ) stock slumped 12% after the e-commerce giant forecast a slowdown in sales growth for the all-important holiday season and warned of a hit to consumers' purchasing power.
Apple (NASDAQ: AAPL ) stock rose 0.5% after the iPhone maker reported quarterly revenue and profit that topped expectations while cautioning revenue growth could see some pressure in the December quarter.
- Chevron (NYSE: CVX ) stock rose 2% after the oil major reported a third quarter net profit of $11.2 billion, its second highest quarterly profit ever, driven by soaring demand and high energy prices.
- Exxon Mobil (NYSE: XOM ) stock rose 2.2% after the energy giant reported record profits, boosted by higher natural gas prices and strong cost controls.
Arch Capital (NASDAQ: ACGL ) stock rose 5.9% with the insurance company set to replace Twitter, which will be delisted from the New York Stock Exchange after Elon Musk’s acquisition, on the S&P 500 index at the start of November.
Intel (NASDAQ: INTC ) stock rose 7.3%, helped by a stronger-than-expected performance in its personal computers segment, even as the chipmaker cut its full-year profit and revenue forecast.
Pinterest (NYSE: PINS ) stock rose 11% after the image-sharing platform beat quarterly revenue estimates as its ads business remained resilient.
Capital One (NYSE: COF ) stock fell 3.6% after the bank’s third quarter earnings fell short of expectations, as provisions for capital losses increased again.
Gilead Sciences (NASDAQ: GILD ) stock rose 5.1% after the pharma company reported a higher-than-expected third quarter profit on the back of strong demand for its HIV and cancer drugs.
- Caterpillar (NYSE: CAT ) stock fell 0.8% after Deutsche Bank downgraded its investment stance on the agricultural machinery manufacturer to 'hold' from 'buy', saying little upside with a recession approaching.
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