Amazon, Snap, Pinterest fall premarket; Intel, Exxon rise
Investing.com -- Stocks in focus in premarket trade on Friday, April 28th. Please refresh for updates.
Amazon (NASDAQ:AMZN) stock fell 3.4% after the tech giant warned of a slowdown at its crucial cloud-computing division Amazon Web Services - a major driver of the group's overall profit.
Intel (NASDAQ:INTC) stock rose 6.1% after the chipmaker said gross margins will improve in the second half of the year, after reporting the largest quarterly loss in the company’s history.
Snap (NYSE:SNAP) stock slumped over 18.1% after the company, which owns photo messaging app Snapchat, missed quarterly revenue expectations as changes to its advertising platform hurt demand for ads.
Pinterest (NYSE:PINS) stock fell 13% after the image-sharing company forecast second quarter revenue growth below expectations, hit by a pullback in advertising spending.
Exxon Mobil (NYSE:XOM) stock rose 0.8% after the oil giant reported a record first quarter profit as rising oil and gas output overcame a pullback in energy prices from high levels.
Chevron (NYSE:CVX) stock fell 0.3% after the oil company reported strong earnings in the first quarter but its upstream business - responsible for oil and gas production - saw its income slip.
Sony (NYSE:SONY) stock fell 3% after the Japanese conglomerate forecast its profit will slip from a record high as weaker financial services sales offset gains from gaming, music, and movies.
First Republic Bank (NYSE:FRC) stock rose 4.4% on reports that the U.S. government is coordinating urgent talks to rescue the beleaguered lender.
Cloudflare (NYSE:NET) stock fell 24% after the cloud services provider posted weaker-than-expected first quarter revenue and issued a downbeat full-year forecast.
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