Verizon (VZ)

Verizon slipped 1.4% in the premarket after it reported
its first-quarter results. The wireless network operator earned an adjusted
$1.35 per share for the first quarter of the year 2023. Profit and revenue were
in line with the market estimates. Verizon lost more than 36,000 phone
subscribers during the quarter, less than the analysts’ projection of 49,300
losses.

Also Read | Afghan IS group claims series of bombings targeting Shiites

American Express (AXP)

Shares of American Express rose 1.2% in premarket trading
after reporting a better-than-expected financial report for the first quarter
of 2023. The company reported a profit of $2.73 per share compared with the
$2.44 consensus estimate, on the back of increased spending by millennial and
Gen-X consumers including small and medium businesses.

Gap (GPS)

Shares of Gap tumbled 14.8% in the premarket action after
it lowered its sales growth outlook amid increasing competition and more
promotions. The company said that Old Navy President and CEO Nancy Green is
leaving.

Also Read | Explained: Why DeSantis wants to take away Disney’s district in Florida

Cleveland-Cliffs (CLF)

The mining and steel company’s shares jumped 3.5% in
premarket after beating top and bottom-line estimates for the first quarter of
2023. Cleveland-Cliffs increased its average selling price estimate for the
whole year.

Also Read | Why US lawmaker Ilhan Omar’s Pakistan occupied Kashmir visit agitates India

Kimberly-Clark (KMB)

Shares of the consumer products company surged 3.3% in
the premarket action after reporting stronger-than-expected quarterly financial
results. The company said that it well managed the volatile and inflationary
environment and raised its full-year organic sales projection.

Also Read | US to send mysterious Phoenix Ghost suicide drones to Ukraine: What we know

Schlumberger (SLB)

The oilfield services producer’s shares added 1.1% in the
premarket trading after reporting an adjusted quarterly profit of 34 cents per
share, beating the market estimates by a penny. Revenue also passed the Wall
Street forecasts. Schlumberger increased its dividend by 40%.

Also Read | Ukraine officials halt evacuation of civilians due to security issues

Snap (SNAP)

Snap shares fell 1.1% in premarket trading after
reporting a loss of adjusted 2 cents per share for its latest quarter as
against the consensus forecast of a 1 cent per-share profit. The social media
company issued a conservative sales growth forecast for the ongoing quarter.