stockmarket

Intel. Snap, Facebook Slump Premarket; Mattel Gains




By Peter Nurse 

Investing.com — Stocks in focus in premarket trade on Friday, October 22nd. Please refresh for updates.

  • Intel (NASDAQ:) stock fell 9.8% after the semiconductor company missed third-quarter sales expectations when it released its results late Thursday, citing a shortage of other makers’ chips that held  back sales of devices that use its flagship processors. The company continued to lose share in the key datacenter market segment.

  • Snap (NYSE:) stock slumped over 20% after the social media company, which owns photo messaging app Snapchat, said privacy changes implemented by Apple (NASDAQ:) have hurt the company’s ability to target and measure its digital advertising. Facebook (NASDAQ:) stock fell 4% and Twitter (NYSE:) stock dropped 3.4% due to the read across.

  • Mattel (NASDAQ:) stock rose 6% after the toy maker posted strong quarterly earnings and raised its 2021 sales forecast despite industry-wide shipping disruptions.

  • Schlumberger (NYSE:) stock fell 0.5% despite the oilfield services provider reporting a rise in third-quarter profit, with investors looking for even more as worldwide rig counts increase as fundamentals in the sector improve.

  • Digital World Acquisition Corp (NASDAQ:) stock soared over 80%, continuing Thursday’s sharp gains, with the special purpose acquisition company benefiting from plans to publicly list former U.S. President Donald Trump’s new social media company. 

  • American Express (NYSE:) stock rose 1.7% after the credit-card issuer reported another strong quarter, with consumers comfortable in spending more as Covid-19 restrictions are lifted.

  • Boston Beer (NYSE:) stock fell 3.7% after the brewer missed earnings expectations for the third quarter, weighed by disappointing sales of its Truly hard seltzer.

  • VF Corp (NYSE:) stock fell 7.9% after the Vans sneaker maker missed quarterly revenue expectations, hampered by global supply chain disruptions and factory shutdowns in Vietnam.

  • Zoom Video Communications (NASDAQ:) stock rose 3.1% after JPMorgan (NYSE:) upgraded its investment stance on the video conferencing company to ‘overweight’ from ‘neutral’, citing a cheap valuation with growth set to accelerate again.

  • Urban Outfitters (NASDAQ:) stock rose 2.7% after Citigroup (NYSE:) lifted its investment stance to ‘buy’ from ‘neutral’, seeing growth upside following a 25% slump in the stock since its last quarterly earnings.
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





READ SOURCE

Leave a Reply

This website uses cookies. By continuing to use this site, you accept our use of cookies.