Snap, Intel, First Solar, Exxon Mobil, And More Make Big Moves Premarket

‍Capital One

A disappointing quarterly earnings report sent shares down 3.3%. Despite StreetAccount's forecast for $3.75 per share, the company earned an adjusted $2.31 per share. The quarter was characterized by difficulties with lending at Capital One.

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Snap

There was a spike in share price after the company announced its first-quarter revenue missed Wall Street's expectations by 18.2%. Refinitiv data indicates that Snap's revenue dropped 6% from the prior year to $989 million, while analysts were expecting $1.01 billion according to the company.

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Amazon

In the early hours of Friday morning, Amazon shares dropped by 2.4% as the e-commerce giant expressed concerns over the future of its cloud business. It was a disappointing quarter for revenue, which overshadowed the good news for the first quarter.

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T-Mobile

After announcing their quarterly results on Friday morning, the stock price of the company was down about 2%. On the earnings per share front, the company beat StreetAccount's estimate of $1.52 with adjusted earnings per share of $1.58. In terms of revenue and the number of subscribers added to the business, T-Mobile misses estimates.

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Exxon Mobil

A record profit was reported for the oil giant in the first quarter, boosting its shares 1% in the premarket. Refinitiv reports that Exxon Mobil's adjusted earnings per share rose to $2.83 from $2.59, edging ahead of analysts' estimates. In addition to beating expectations, the company's revenue came in at $86.56 billion instead of $85.41 billion.

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Chevron

Although Chevron beat earnings expectations for the first quarter, its shares declined in the premarket. Based on Refinitiv research, analysts polled by the company had expected earnings per share to be $3.41, while the oil major earned $3.55 instead. It was also a record-breaking year in terms of revenue and profits, but Chevron's oil and gas division lost 25% in profits in the wake of oil price declines.

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Intel

In premarket trading, Intel shares rose 6% despite the chipmaker reporting a net loss of $2.8 billion in its first quarter earnings report. Despite beating Wall Street's estimates, Intel reported an adjusted loss of 4 cents per share on revenue of $11.92 billion for the quarter, compared to Wall Street's expectations of a loss of 3 cents per share. Refinitiv surveyed analysts and found that they expected a loss of 15 cents per share on revenue of $11.042 billion, which is a loss of 15 cents per share.

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First Solar

A lackluster earnings report has led to a decline of more than 8% in early trading for the solar panel manufacturer. A StreetAccount estimate for the company said that the company would achieve 99 cents per share on revenue of $548.29 million compared with 40 cents per share adjusted on $548.29 million.

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Alteryx

In premarket trading, Alteryx, a software company, fell 18%. Analysts surveyed by StreetAccount estimated that the company would have lost 26 cents per share based on the adjusted loss reported by the company. As part of a cost-cutting program, the management of the company informed investors that it would lay off 11% of its employees.

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L3 Harris Technologies

With adjusted earnings per share of $2.86 per share, the tech and defense company beat StreetAccount's estimate of $2.85 per share by one basis point, gaining 2.5% on the news.

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First Republic

As a result of news that U.S. officials are in the process of constructing a rescue plan for the bank, the beleaguered institution added 5.3% on Friday. In an announcement made on Monday, the bank said deposits had fallen by an astounding 41% over the past three months.

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Pinterest

As a result of disappointing guidance by the company for the quarter ahead, shares of the image-sharing platform declined by 14% in premarket trading. Despite the increase in operating expenses, Pinterest expects revenue growth in the second quarter to be lower than anticipated. It is important to note, however, that Pinterest had a positive first-quarter earnings report and a positive revenue report.

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