Amazon plunged 12.3% in premarket action after forecasting much weaker-than-expected revenue for the ongoing quarter. Amazon’s forecasts show economic uncertainty and a significant hit from a stronger US dollar.
The chipmaker’s shares surged 6.9% in premarket action despite cutting its full-year sales forecast. Intel beat top and bottom-line estimates for the third quarter. The company said it will focus on cost reductions over the next year.
Pinterest rallied 9.6% in premarket trading after its quarterly results exceeded analyst estimates. Its monthly active user numbers also beat expectations.
Apple rose 1% in the premarket after beating top and bottom line estimates for its latest quarter. The tech giant posted its highest revenue ever for the July-September period. However, iPhone sales during the quarter were slightly lower than market estimates.
Exxon Mobil (XOM)
Exxon Mobil gained 2.2% in the premarket after reporting higher-than-expected profits for the third quarter. Elevated natural gas prices and cost controls helped offset the drop in crude oil prices.
Chevron added 1.7% in premarket trading after the top and bottom-line beats for its latest quarter. Chevron’s $11.2 billion profit was lower than the record $11.6 billion it posted during the previous quarter, but still the second-best on record.
Shares of the French drugmaker gained 2.5% in premarket trading after the company issued an upbeat forecast. Sanofi is expecting strong demand for its Dupixent eczema treatment and its flu vaccines.
T-Mobile shares rose 3.3% in the premarket after it posted the strongest jump in subscriber numbers since its merger with Sprint in 2020.
Deckers Outdoor (DECK)
The footwear and apparel maker’s stock fell 6% in premarket action after the company reported a quarterly profit of $3.80 per share, 12 cents above estimates. The company reaffirmed its full-year outlook and that conservative forecast helped push the stock down.