https://news.google.com/__i/rss/rd/articles/CBMieGh0dHBzOi8vd3d3LmNuYmMuY29tLzIwMjEvMDQvMjkvc3RvY2tzLW1ha2luZy10aGUtYmlnZ2VzdC1tb3Zlcy1pbi10aGUtcHJlbWFya2V0LWZhY2Vib29rLWNvbWNhc3QtZ2VuZXJhYy1lYmF5LW1vcmUuaHRtbNIBfGh0dHBzOi8vd3d3LmNuYmMuY29tL2FtcC8yMDIxLzA0LzI5L3N0b2Nrcy1tYWtpbmctdGhlLWJpZ2dlc3QtbW92ZXMtaW4tdGhlLXByZW1hcmtldC1mYWNlYm9vay1jb21jYXN0LWdlbmVyYWMtZWJheS1tb3JlLmh0bWw?oc=5
Take a look at some of the biggest movers in the premarket:
Facebook (FB) – Facebook exceeded analysts’ forecasts by $1.03 a share, with quarterly profit of $3.30 per share. The social media giant’s revenue was also well above Wall Street forecasts as digital ad spending continued to surge amid the pandemic. Facebook said ad revenue could take a hit later this year, however, due to Apple’s new privacy policies that make ad targeting more difficult. Facebook’s stock surged 7.6% in premarket trading.
Comcast (CMCSA) – The NBCUniversal and CNBC parent beat estimates by 17 cents a share, with quarterly earnings of 76 cents per share. Revenue also topped estimates, driven in part by strong growth in broadband and wireless phone customers. Comcast shares jumped 2.9% in the premarket.
Generac (GNRC) – The generator maker earned $2.38 per share for the first quarter, compared to a consensus estimate of $1.87 a share. Revenue also exceeded forecasts on strength in the residential market, and Generac raised its sales forecast for the full year. Its shares surged 6% in the premarket.
EBay (EBAY) – EBay reported consensus-beating results on both the top and bottom lines for its most recent quarter, but the online marketplace operator gave a lighter-than-expected current-quarter outlook. Its shares tumbled 7.6% in premarket trading.
Caterpillar (CAT) – Caterpillar shares gained 1.6% in premarket trading after the heavy equipment maker beat estimates by nearly $1 a share, with quarterly profit of $2.87 per share. Revenue was also above forecasts, as the recovering economy spurred demand for equipment.
McDonald’s (MCD) – The restaurant chain came in 11 cents a share ahead of consensus, with quarterly profit of $1.92 per share. Revenue was also above forecasts, boosted by a better-than-expected 13.6% jump in U.S. same-store sales.
Merck (MRK) – A pandemic-induced drop in medical office visits was among the key reasons for the drugmaker’s earnings shortfall for the first quarter. Merck missed expectations by 23 cents a share, with quarterly profit of $1.40 per share. Its stock slid 1.8% in premarket action.
Royal Caribbean (RCL), Norwegian Cruise Line (NCLH), Carnival (CCL) – Cruise line stocks rallied in premarket trading after the Centers for Disease Control and Prevention said it was committed to a restart of U.S. cruises by mid-summer. Royal Caribbean rose 2.4%, Norwegian added 3% and Carnival jumped 2.8%.
Bristol Myers (BMY) – The drugmaker came in 7 cents a share shy of estimates, reporting quarterly earnings of $1.74 per share. Revenue was also below forecasts as cancer drug sales were shy of Street forecasts. The stock dropped 2.3% in the premarket.
Apple (AAPL) – Apple gained 3% in premarket action after it blew past the consensus estimate of 99 cents a share, with quarterly earnings of $1.40 per share. Revenue also topped estimates by a wide margin for its latest quarter, with Apple’s results driven by a surge in demand for new 5G iPhones. It also increased planned stock buybacks by $90 billion. Apple warned of a negative impact from the ongoing global chip shortage, however.
Ford Motor (F) – Ford earned quarterly profit of 89 cents per share, compared to a consensus estimate of 21 cents a share. The automaker’s revenue also beat analysts’ forecasts. Ford said a global chip shortage could ease this summer, but it could cut second-quarter production in half. Ford shares fell 2.9% in premarket trading.
Qualcomm (QCOM) – Qualcomm beat estimates by 23 cents a share, with quarterly profit of $1.90 per share. The chipmaker’s revenue also exceeded projections and Qualcomm gave an upbeat current-quarter forecast as supply constraints ease. Its stock jumped 5.1% in the premarket.
Cheesecake Factory (CAKE) – Cheesecake Factory shares rallied 6.7% in premarket action after the company reported quarterly profit of 20 cents per share, compared to analysts’ expectations of a 6 cents per share loss. The restaurant chain’s revenue also exceeded forecasts.
Align Technology (ALGN) – Align beat estimates by 47 cents a share, with quarterly earnings of $2.49 per share. Revenue topped estimates as well. Sales jumped from a year earlier on higher demand for its teeth straighteners, although profit fell on higher expenses. Its shares were up 4.3% in the premarket.
