Vlad Tenev, CEO and co-founder of Robinhood Markets, Inc., is shown on a screen during his company’s IPO on the Nasdaq Market site in Times Square in New York City, USA, on 29 July 2021.
Brendan McDermid | Reuters
Take a look at the companies that make headlines in premarket trading on Friday.
Apple – Apple’s share price fell 2% after Chief Financial Officer Luca Maestri said supply chain problems would hit third-quarter sales by as much as $8 billion. Still, many analysts on Wall Street remained positive about the company after its recent earnings report beat expectations. An analyst said any weakness in the stock is a buying opportunity.
Amazon — Shares fell more than 9% after Amazon released weaker-than-expected earnings 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 its value in the quarter.
roku — Roku shares rose more than 4% after the maker of digital media players reported Thursday that sales beat expectations in its latest quarter. Roku posted revenue of $733.7 million. Analysts polled by Refinitiv had expected $718 million.
Intel — Shares fell more than 3% after Intel issued weak guidance for its fiscal second quarter, eclipsing Stronger-than-expected earnings for the previous quarter.
Robin Hood — Retail brokerage shares fell almost 10% after a first-quarter report that showed decreased revenue and monthly active users. CEO Vlad Tenev said the company saw its clients with smaller accounts trade less when the market fell.
alibaba, pinduoduo, Baidu — Chinese tech stocks rose after the country’s lawmakers signaled an easing of a crackdown on tech companies. Alibaba rallied more than 10%, Pinduoduo soared 15%, and Baidu jumped more than 8%.
Bristol Myers Squibb — Biopharmaceutical stocks fell 1.5% despite an earnings report that beat expectations. On Friday, Bristol-Myers Squibb disclosed that it earned $1.96 per share on revenue of $11.65 billion. The company was forecast to earn $1.91 per share on revenue of $11.36 billion, according to Refinitiv.
Honeywell International — Shares rose 2% after Honeywell reported earnings that beat expectations. Honeywell posted earnings of $1.91 per share on revenue of $8.38 billion. Meanwhile, analysts surveyed by Refinitiv were forecasting earnings per share of $1.86 on revenue of $8.29 billion.
Chevron — Shares fell 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 surveyed by Refinitiv had expected earnings per share of $3.27 on revenue of $47.94 billion.
exxonmobile — Exxon Mobil stock price fell 1% after the oil and gas company reported weaker-than-expected quarterly results. The energy company earned $2.07 per share, below Refinitiv estimates of $2.12 earnings per share. Exxon Mobil reported revenue of $90.5 billion, compared to a Refinitiv forecast of $92.7 billion.
— CNBC’s Hannah Miao and Jesse Pound contributed reporting.