Alphabet, Boeing Rise Premarket; Starbucks, Spotify Fall
By Peter Nurse
Investing.com — Stocks in focus in premarket trade on Wednesday, July 28th. Please refresh for updates.
Alphabet (NASDAQ:GOOGL) stock rose 3.9% after the Google parent reported a 62% rise in total revenue while net income rose more than two-and-a-half times as advertising revenue soared.
Microsoft (NASDAQ:MSFT) stock rose 1% after the tech giant beat expectations for revenue and earnings, helped by a boom in Cloud services. Its Azure unit posted revenue growth of 50% on the year, accelerating again after appearing to slow down in recent quarters.
Apple (NASDAQ:AAPL) stock fell 0.8% after the iPhone maker highlighted the global shortage of chips could now begin to hurt manufacturing of its key product, even as it reported a record third quarter with customers buying more of its premium 5G phones.
Starbucks (NASDAQ:SBUX) stock fell 3.3% after the coffee giant cut its fiscal 2021 forecast for sales in China, its most important overseas market, where Covid-related restrictions are still being extended to combat localized outbreaks. Sales in its home U.S. market were strong, offsetting higher input costs.
Boeing (NYSE:BA) stock rose 5.7% after the aircraft manufacturer reported its first quarterly profit in almost two years, helped by a surge in deliveries of commercial planes as airlines started to recover from the pandemic.
McDonald’s (NYSE:MCD) stock fell 0.4% despite the fast food giant reporting a jump in same-store sales of just over 40% in the second quarter, exceeding the pre-pandemic levels of 2019 for the second straight quarter.
Pfizer (NYSE:PFE) stock rose 0.1% after the pharma giant increased its sales forecast for its Covid vaccine by nearly a third to $33 billion.
GlaxoSmithKline (NYSE:GSK) ADR fell 0.9% after the drugmaker forecast another drop in 2021 profit, despite its vaccine business picking up as routine hospital visits recovered.
CME Group (NASDAQ:CME) stock rose 0.2% after the exchange operator reported a 1.4% rise in second-quarter profit, helped by lower expenses and higher trading volumes.
Barclays (LON:BARC) ADR rose 3.5% after the British bank announced increases to dividends and stock buybacks with its investment banking and equities businesses posting record numbers.
Spotify (NYSE:SPOT) stock fell 3.6% after the music-streaming service reported that its monthly active user numbers came in below guidance.
Shopify (NYSE:SHOP) stock rose 1.3% after the e-commerce company posted strong quarterly earnings, continuing to benefit from the surge in online shopping.
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