Intel shares rose by 6.7% following the release of their better-than-expected second-quarter results, marking a return to profitability after two consecutive losing periods. The company’s third-quarter forecast also surpassed analyst predictions. Intel reported adjusted earnings of 13 cents a share on revenues of $12.95 billion.
Roku’s stock rallied nearly 10% after reporting a narrower-than-expected loss for the second quarter. The company reported a loss of 76 cents a share and revenues of $847 million, beating Refinitiv’s estimates of a $1.26 loss per share and $775 million in revenue.
Biogen announced its acquisition of Reata Pharmaceuticals for $172.50 per share in a cash deal valued at about $7.3 billion. Following the news, Reata’s shares soared more than 51%.
Procter & Gamble’s shares rose more than 1% in premarket trading after the company reported quarterly earnings and revenue that surpassed analysts’ expectations. However, P&G’s fiscal 2024 sales outlook fell short of Wall Street’s estimates.
Exxon Mobil’s shares slightly declined after the company posted mixed second-quarter results. Their earnings of $1.94 a share fell short of the expected $2.01 per share, while revenues came in above expectations at $82.91 billion.
Chevron’s stock experienced a slight decrease despite beating top and bottom line expectations for the second quarter. The decline in earnings was due to a drop in oil prices.
First Solar shares surged 12% after reporting earnings per share of $1.59 on revenue of $811 million for the second quarter, beating Wall Street’s expectations.
Enphase Energy’s shares dropped over 15% after the company reported second-quarter revenue that fell short of analyst estimates. Several major firms downgraded the stock in response.
Sweetgreen’s stock slid more than 13% after the company posted weak sales in the second quarter, along with a net loss. The company aims to achieve profitability by 2024.
Ford Motor announced that the adoption of electric vehicles is slower than expected and expects to incur a $4.5 billion loss on its EV business this year. However, the company reported strong quarterly earnings that beat Wall Street’s expectations.
Juniper Networks’ shares fell 8% after their third-quarter guidance came in lighter than expected, although their second-quarter results slightly exceeded expectations.
AstraZeneca’s U.S. listed shares rose more than 5% before the bell, as the company reported better-than-expected second-quarter earnings and revenue. AstraZeneca also announced plans to acquire a portfolio of preclinical rare disease gene therapies from Pfizer for up to $1 billion.
Xpeng, a Chinese electric vehicle company, saw a more than 6% increase in their stock following an upgrade by Jefferies, which cited their joint development plan with Volkswagen.
New York Community Bancorp’s stock rose approximately 2% after receiving an overweight rating from JPMorgan, who praised the company as a “massive market share taker.”
Mondelez International’s stock rose 2.7% on strong second-quarter results, with the company reporting higher earnings and revenue than expected.
These are the notable premarket movers. Additional reporting contributed by CNBC’s Tanaya Macheel, Yun Li, and Jesse Pound.
Denial of responsibility! VigourTimes is an automatic aggregator of Global media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, and all materials to their authors. For any complaint, please reach us at – [email protected]. We will take necessary action within 24 hours.
