Look at the firms that are generating news in the premarket trade.
Alphabet — Before the opening bell, Google’s parent company’s shares fell by about 4%. In the second quarter, Alphabet’s YouTube division’s advertising income above analyst predictions and outperformed both the top and bottom lines.
Tesla: The electric car manufacturer’s stock fell around 9% as a result of lower-than-expected second-quarter profits. Wall Street had predicted $24.77 billion in revenue, but Tesla’s $25.5 billion exceeded that amount.
Texas Instruments: The semiconductor manufacturer’s stock increased by almost 2% as a result of better-than-expected second-quarter profits. LSEG polled analysts, and they predicted $1.17 a share, but Texas Instruments posted earnings of $1.22.
Madison Square Garden Entertainment: Following an upgrade to buy from neutral by Goldman Sachs, the live entertainment shares surged 3.3%. Following the firm’s recent underperformance, Goldman noted that investors have a decent entry point and that the stock is a pure play on the venues sector.
Visa — Following a fiscal third-quarter revenue report, the credit card company’s stock declined more than 3% miss. Visa’s $8.9 billion in sales was little less than the $8.92 billion analysts surveyed by LSEG predicted.
Capital One: Following the company’s disappointing second-quarter report, the financial stock fell by almost 1%. After deducting expenses, Capital One generated $9.51 billion in net revenue and made $3.14 per share.
Meta Platforms: Following the announcement of a free version of its Llama artificial intelligence model, the social networking company’s stock dropped by almost 3%.
Seagate Technology: The computer hardware company’s stock increased by over 4% as a result of better-than-expected fourth-quarter earnings. With $1.89 billion in revenue, Seagate reported $1.05 per share in profitability (excluding items).
Enphase Energy: The stock of solar energy increased by over 2% despite falling short of Wall Street predictions in premarket trading. Enphase released a third-quarter revenue prediction that is greater than anticipated, predicting revenue in the $370 million to $410 million range.
AT&T: Well ahead of the average estimate of FactSet’s polled analysts, the telecom behemoth added nearly 3% after disclosing an increase of 419,000 wireless phone customers with monthly bills. While revenue fell short of what the Street had predicted, AT&T’s quarterly earnings per share were in line with estimates of analysts polled by LSEG.
Source (CNBC)
