Stocks making the biggest moves premarket: Intel, T-Mobile, American Express and more
Check out the companies making headlines before the bell. Intel — The chipmaker slumped more than 10% after issuing lower-than-expect first-quarter guidance . The company now expects revenue in the range of $12.2 billion to $13.2 billion, while analysts polled by LSEG forecast $14.16 billion. American Express — Shares added 3% after the company issued full-year guidance that topped expectations, although its fourth-quarter results were weaker than expected. American Express is anticipating full-year earnings between $12.65 to $13.15 per share, versus the StreetAccount consensus estimate of $12.38 per share. T-Mobile — The telecommunications company declined 2% after posting mixed fourth-quarter results. Earnings per share came in at $1.67, falling short of the $1.91 expected by analysts polled by FactSet. T-Mobile posted $20.48 billion in revenue, ahead of a $19.67 billion forecast. Western Digital — Western Digital shares fell about 4% even after the company topped revenue expectations, posted a smaller-than-expected loss per share and offered strong fiscal third-quarter outlook. Western Digital posted a loss of 69 cents per share on $3.03 billion in revenue. That topped the $1.13 loss per share and $2.99 billion in revenue expected by analysts polled by LSEG. KLA Corporation — The semiconductor equipment maker declined 4% after issuing light fiscal third-quarter guidance. KLA Corporation topped Wall Street earning and revenue expectations for the recent quarter, but showed a profit decline from a year ago. Visa — Visa’s stock declined 3% even after the company topped quarterly estimates. The digital payments company, however, adjusted its operated expenditures guidance higher and said payments volumes have slowed in January. Snap — Shares popped 3% after Deutsche Bank upgraded Snap to buy from hold, saying there’s a “clear, strong catalyst path towards upwards revenue and EBITDA revisions.” The Wall Street firm raised its target price to $19 from $10, or more than 16% upside from Thursday’s close of $16.29. Levi Strauss – Shares of the denim maker fell nearly 2% in premarket trading after the company reported weaker-than-expected revenue for the fourth quarter on Thursday. It also announced plans to lay off 10% to 15% of its global corporate workforce as it said it expects weaker sales this year. Coinbase – The crypto services company gained more than 4% Friday morning, helped by a lift in the price of bitcoin . Additionally, the stock received an upgrade from Oppenheimer to outperform from perform, based on a slew of positive catalysts on the horizon this year. Colgate-Palmolive — The household and consumer products maker hovered near the flatline after posting fourth-quarter results that came in slightly ahead of Wall Street’s estimates. Colgate-Palmolive posted adjusted earnings of 87 cents per share on $4.95 billion in revenue and said it expects net sales growth to range between 1% and 4% for the full year. Capital One Financial — The financial stock fell more than 1% on light trading after Capital One reported that its earnings declined in the fourth quarter. The company earned $1.67 per share, below the $4.45 in the third quarter and the $3.03 in the year-ago period. The quarter included a special assessment from the Federal Deposit Insurance Corporation that lowered earnings per share by 57 cents, Capital One said, though earnings would have declined even without that impact. — CNBC’s Tanaya Macheel, Brian Evans, Sarah Min, Michelle Fox and Jesse Pound contributed reporting. This post has been syndicated from a third-party source. View the original article here.
