Shares of Apple fell 2% after CFO Luca Maestri said
supply chain issues would affect third-quarter sales by as much as $8 billion.
Still, several market analysts remained positive about the company after its
latest earnings report that beat expectations.
Amazon’s stock fell over 9% after it issued a
weaker-than-expected revenue forecast for the second quarter. The e-commerce
giant also posted a $7.6 billion loss on its investment in Rivian, which lost
more than 50% of its value in the quarter.
Shares of Roku dropped over 4% in the premarket a day
after the digital media player manufacturer reported sales that beat
expectations in its recent quarter. Roku recorded revenue of $733.7 million
against analysts’ expectations of $718 million.
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Intel’s shares shed over 3% in the premarket trading
after the company disclosed weak guidance for its fiscal second quarter,
overshadowing stronger-than-expected earnings for the previous quarter.
The retail brokerage company’s stock dropped nearly 10%
following a first-quarter report showing declining revenue and monthly active
users. CEO Vlad Tenev said that the customers with smaller accounts trade less
when the market fell.
Bristol-Myers Squibb (BMY)
Share of the biopharmaceutical stock fell 1.5% despite
posting a stronger-than-expected earnings report. Bristol-Myers Squibb posted
earnings of $1.96 per share on revenues of $11.65 billion. The company was
expected to earn $1.91 per share on revenues of $11.36 billion.
Honeywell International (HON)
The stock surged 2% in the premarket action after
reporting earnings that beat market expectations. Honeywell posted earnings of
$1.91 per share on revenues of $8.38 billion compared to analysts’ expectation
of $1.86 earnings per share on revenues of $8.29 billion.
Chevron shares slipped 1% despite posting
stronger-than-expected results for the previous quarter. Chevron reported
earnings of $3.36 per share on revenues of $54.37 billion against market
expectations of $3.27 earnings per share on revenues of $47.94 billion.
Exxon Mobil (XOM)
Exxon Mobil’s stock price fell 1% after the oil and gas
firm posted weaker-than-expected quarterly results. The energy company reported
earnings of $2.07 per share on revenues of $90.5 billion, lower than Refinitiv
estimates of $2.12 earnings per share on revenues of $92.7 billion.