Stocks making biggest moves premarket: Alphabet, Microsoft and more
Check out the companies making headlines before the bell: Microsoft — Shares gained 4% after the tech giant reported fiscal third-quarter results that topped expectations as its Azure business continued to show momentum. Alphabet — The tech behemoth surged more than 11%. Alphabet posted first-quarter results that topped estimates and issued its first-ever dividend, as well as a $70 billion buyback. Earnings of $1.89 per share topped the $1.51 in earnings per share anticipated by analysts polled by LSEG. Revenue of $80.54 billion topped expectations of $78.59 billion. Snap — The social media stock surged 22% after Snap’s first-quarter results exceeded expectations. Revenue rose 21% to $1.19 billion, spurred by improvements in the company’s advertising platform. Intel — Shares dropped more than 8% as investors weighed the chipmaker’s first-quarter financial results . Although Intel’s adjusted earnings per share of 18 cents beat estimates by 4 cents, according to LSEG, the company came up light in sales, posting $12.72 billion versus $12.78 billion expected. Intel gave a weak forecast for the current quarter. Exxon Mobil — Shares dipped nearly 2% after the oil giant’s first-quarter earnings of $2.06 per share missed the LSEG consensus estimate of $2.20 per share. Revenue of $83.08 billion topped estimates of $78.35 billion. Chevron — Shares dipped 0.4% after Chevron’s first-quarter revenue of $48.72 billion missed the $50.66 billion anticipated by analysts polled by LSEG. Otherwise, Chevron’s earnings of $2.93 per share topped the consensus estimate of $2.87 in earnings per share. AutoNation — Shares gained about 1% after AutoNation posted first-quarter earnings of $4.49 per share, surpassing the LSEG consensus estimate of $4.27 in earnings per share. Revenue of $6.49 billion missed the estimate of $6.5 billion. AbbVie — The health-care stock rose more than 1% after a first-quarter report that topped expectations. AbbVie reported $2.31 in adjusted earnings per share on $12.31 billion of revenue. Analysts surveyed by LSEG were looking for $2.23 in earnings per share on $11.92 billion of revenue. The company also raised its full-year earnings forecast. Colgate-Palmolive — Shares rose about 1% after the consumer products company’s quarterly results topped expectations. Adjusted earnings per share came in at 86 cents, versus the 81 cents expected from analysts polled by LSEG. Revenue was $5.07 billion, versus the consensus estimate of $4.96 billion. Skechers — Shares jumped more than 10% after the footwear company posted first-quarter results that beat expectations. Skechers posted earnings of $1.33 per share and revenue of $2.25 billion. That topped the earnings of $1.10 per share and $2.2 billion in revenue anticipated by analysts polled by LSEG. DexCom — Shares dropped about 5% after the maker of glucose monitoring systems beat its latest quarterly expectations on the top and bottom lines. DexCom reported adjusted earnings of 32 cents per share on revenue of $921 million in revenue. Analysts polled by FactSet anticipated earnings of 27 cents per share on revenue of $909.9 million. Charter Communications — The broadband and cable provider dropped 3.4% after first-quarter earnings came in weaker than anticipated. Charter earned $7.55 per share on $13.68 billion in revenue, less than the respective estimates of $7.92 a share and $13.74 billion from analysts surveyed by LSEG. — CNBC’s Michelle Fox, Alex Harring, Tanaya Macheel and Jesse Pound contributed reporting.
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