PepsiCo, McDonald's and Spotify rise premarket; First Republic slumps

  • Stock Market News
PepsiCo, McDonald's and Spotify rise premarket; First Republic slumps
Credit: © Reuters. -- Stocks in focus in premarket trade on Tuesday, April 25th. Please refresh for updates.

  • First Republic Bank (NYSE: FRC ) stock slumped 21% after the regional lender saw $100 billion in customer withdrawals last month, fuelling concerns that it will need to offload its mortgage portfolio at a heavy loss to cover the outflows.

  • PepsiCo (NASDAQ: PEP ) stock rose 1.7% after the soft drinks colossus lifted its annual profit guidance after price rises helped it overcome a jump in input expenses to post better-than-expected first-quarter earnings .

  • Verizon Communications (NYSE: VZ ) stock fell 0.8% after the telecoms giant missed first-quarter revenue estimates and reported wireless subscriber losses as a pandemic-led boom in demand fizzled out.

  • United Parcel Service (NYSE: UPS ) stock fell 4.4% after the delivery company said it expects full-year revenue to be at the lower end of its earlier forecast on account of a weakening economy.

  • McDonald’s (NYSE: MCD ) stock rose 0.8% after the burger giant posted a strong rise in global comparable sales in the first quarter, with earnings helped by higher menu prices and more customer visits.

  • Biogen (NASDAQ: BIIB ) stock fell 0.8% after the drugmaker said it would discontinue or pause some studies to reduce costs, even as it beat quarterly profit expectations.

  • Raytheon (NYSE: RTX ) stock rose 1.5% after the aerospace company reported a healthy rise in quarterly profit, benefiting from strong demand for jet engine spare parts and services.

  • Spotify (NYSE: SPOT ) stock climbed 4.8% after the music streaming company reported first-quarter monthly active users crossed the half-billion mark for the first time.

  • JetBlue (NASDAQ: JBLU ) stock rose 2.2% after the low-cost carrier reported a quarterly loss, but still forecast a rebound to profit on strong travel demand.

  • UBS (NYSE: UBS ) stock fell 1.9% after the Swiss lender reported a 52% drop in net profit in the first quarter after allotting $665M in provisions to cover costs related to litigation surrounding U.S. residential mortgage-backed securities.

  • Fox (NASDAQ: FOX ) stock fell 0.3% after the news that Tucker Carlson has parted ways with Fox News, putting an end to a more than decade-long career as one of the channel's most prominent and controversial voices.

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