Stock Market

The Amazon logo on a locker in Annapolis, Maryland, on February 2, 2023, ahead of earnings report.
Jim Watson | AFP | Getty Images

Check out the companies making headlines in premarket trading.

Capital One — Shares were down 3.3% after disappointing quarterly earnings. The company earned an adjusted $2.31 per share, well below a StreetAccount forecast of $3.75 per share. Capital One executives cited difficulty with lending throughout the quarter.

Snap — Shares tumbled 18.2% after the company’s first-quarter revenue fell short of Wall Street’s expectations. Snap’s revenue fell 6% from the prior year to $989 million, whereas analysts had expected $1.01 billion, according to Refinitiv data.

Amazon — Amazon dipped 2.4% Friday morning after the e-commerce giant cited concerns over its cloud business going forward. That overshadowed a revenue beat for the first quarter.

T-Mobile — The telecommunications company were down about 2% Friday morning after reporting quarterly results. The company beat on adjusted earnings per share with $1.58 against a StreetAccount estimated $1.52. However, T-Mobile missed estimates on revenue and monthly subscriber additions.

Exxon Mobil — Shares added 1% in the premarket after the oil giant reported a record first-quarter profit. Exxon Mobil’s adjusted earnings per share came in at $2.83, topping analysts’ estimates of $2.59, per Refinitiv. Its revenue of $86.56 billion also beat the $85.41 billion expected.

Chevron — Shares of Chevron dipped slightly in the premarket despite a first-quarter earnings beat. The oil major’s adjusted earnings per share was $3.55 versus the $3.41 expected by analysts polled by Refinitiv. Revenue also beat, but net profit in Chevron’s oil and gas division dropped 25% on the drop in oil prices.

Intel — Shares of the chipmaker rose 6% in premarket trading despite Intel reporting a net loss of $2.8 billion in the first quarter. The company did beat Wall Street estimates for the quarter, with Intel reporting an adjusted loss of 4 cents per share on $11.72 billion of revenue. Analysts surveyed by Refinitiv were looking for a loss of 15 cents per share on $11.04 billion of revenue.

First Solar — The solar panel manufacturer declined more than 8% in early trading after an earnings miss. The company reported 40 cents per share adjusted on $548.29 million in revenue, while a StreetAccount estimate called for 99 cents per share.

Alteryx — Software company Alteryx fell 18% in premarket trading. The company reported an adjusted loss of 19 cents per share while analysts polled by StreetAccount estimated a loss of 26 cents. Management told investors that the company planned to layoff 11% of staff as part of a cost reduction plan.

L3 Harris Technologies — The tech and defense company gained 2.5% after narrowly beating earnings estimates, with an adjusted $2.86 per share against a StreetAccount estimate of $2.85 per share.

First Republic — The beleaguered bank added 5.3% on Friday on news that U.S. officials were in the process of assembling a rescue plan. The lift comes after the bank said deposits fell a staggering 41% throughout the latest quarter on Monday.

Pinterest — Shares of the image sharing platform tumbled 14% in premarket after the company issued disappointing guidance for the quarter ahead. Pinterest said second-quarter revenue growth will be lower than expected amid higher operating expenses. Pinterest’s first-quarter earnings and revenue did beat expectations, however.

— CNBC’s Hakyung Kim, Samantha Subin, Jesse Pound, Yun Li and Michelle Fox contributed reporting

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