Before the bell, see which firms are in the news.
Intel – Following the release of lower-than-expected first-quarter guidance, the chipmaker saw a more than 10% decline. Although LSEG surveyed analysts predicted $14.16 billion in revenue, the business now projects revenue in the range of $12.2 billion to $13.2 billion.
American Express—Even though the business’s fourth-quarter performance fell short of forecasts, shares rose 3% after the company released full-year outlook that surprised analysts. Instead of the $12.38 per share StreetAccount consensus forecast, American Express is expecting full-year earnings between $12.65 and $13.15.
T-Mobile — After releasing erratic fourth-quarter statistics, the telecoms company saw a 2% fall. A FactSet survey of analysts predicted $1.91 in earnings per share, while the actual amount was $1.67. Compared to a projected revenue of $19.67 billion, T-Mobile reported $20.48 billion.
Western Digital: Despite exceeding revenue forecasts, reporting a lower-than-expected loss per share, and providing a positive outlook for the fiscal third quarter, Western Digital’s shares experienced a roughly 4% decline. On $3.03 billion in revenue, Western Digital reported a loss of 69 cents per share. That exceeded the $2.99 billion in revenue and $1.13 loss per share predicted by LSEG’s panel of analysts.
KLA Corporation Following the release of cautious fiscal third-quarter projections, the manufacturer of semiconductor equipment saw a 4% fall. KLA Corporation reported lower profits than a year ago despite exceeding Wall Street’s estimates for revenue and earnings in the most recent quarter.
Visa Even when the business exceeded quarterly projections, Visa’s stock fell 3%. However, the digital payments provider stated that payment volumes have decreased and raised its operating expenditure projection in January.
Deutsche Bank upgraded Snap to buy from hold and said there is a “clear, strong catalyst path towards upwards revenue and EBITDA revisions,” which caused the stock to jump 3%. Around 16% more than Thursday’s closing price of $16.29 was gained by the Wall Street firm, which increased its target price from $10 to $19.
Levi Strauss-After the firm reported lower-than-expected revenue for the fourth quarter on Thursday, shares of the denim manufacturer plummeted by about 2% in premarket trade. Furthermore, it declared that it expected lower sales this year and that it would be laying off 10% to 15% of its global corporate staff.
Bitcoin’s increase in price helped Coinbase, a provider of cryptocurrency services, increase by more than 4% on Friday morning. Beyond that, Oppenheimer upgraded the stock.
Source (CNBC)
