Stocks in focus in premarket trade on Wednesday, April 28th 2021
- Microsoft (NASDAQ:MSFT) stock fell 2.7% after the software giant struggled to justify a sky-high valuation with quarterly results that were broadly solid. The company’s important Azure cloud service showed strength, and is closing ground on market-share leader Amazon (NASDAQ:AMZN) Web Services.
- Alphabet (NASDAQ:GOOGL) stock rose 5% after Google’s parent company beat quarterly revenue estimates and announced a $50 billion share buyback, as the recovering economy and surging use of online services combined to accelerate its advertising and cloud businesses.
- Starbucks (NASDAQ:SBUX) stock fell 1.5% after the coffee chain missed quarterly sales estimates, hurt by weakness at its international business. That said, the company raised its annual forecast for revenue and profit on the expectation that customers will return as they get vaccinated.
- Amgen (NASDAQ:AMGN) stock fell 4% after the biotech company’s first-quarter sales and profit fell due to a 7% drop in its net drug prices, while the Covid-19 pandemic continued to limit patient interactions with healthcare providers.
- Visa (NYSE:V) stock rose 1.8% after the world’s biggest payment processor beat Wall Street estimates for quarterly profit as a surge in online shopping countered sluggish travel spending.
- Boeing (NYSE:BA) stock dropped 1% after the aircraft manufacturer posted another quarterly loss, albeit smaller than a year earlier, helped by an improvement in aircraft deliveries as its 737 MAX jets were allowed to fly again, enabling deliveries to go ahead.
- Pinterest (NYSE:PINS) stock slumped over 11% after the social media company said it expects “flat” user growth in the U.S. market in the second quarter, from the year-ago period, even after posting its best revenue growth in three years.
- Humana (NYSE:HUM) stock rose 0.7% after the health insurer impressed in the first quarter, benefiting from higher sales of its Medicare advantage plans for the elderly and people with disabilities.
- Advanced Micro Devices (NASDAQ:AMD) stock rose 4.6% after the semiconductor maker posted better-than-expected results for the first quarter, benefiting from numerous product launches over the last several months which are now generating plenty of cash,.
- Mondelez (NASDAQ:MDLZ) stock rose 2.5% as the snack food company continued to benefit from locked-down consumers developing serious snacking habits.
- Deutsche Bank (DE:DBKGn) stock rose 8.7% after the German bank posted a better-than-expected net profit in the first quarter – its best in seven years – as strength at the investment bank helped offset the headwinds of an ongoing restructuring program.
- Yum! Brands (NYSE:YUM) stock rose 1.5% after the KFC owner beat quarterly comparable sales estimates, boosted by the U.S. economy reopening and sustained demand from consumers ordering online.
- Dana (NYSE:DAN) stock rose 2.1% after the auto parts maker posted a strong rise in quarterly profit, benefiting from strength in the light-truck and commercial vehicle market.
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