Twitter, Apple Fall Premarket

Stocks in focus in premarket trade on Friday, October 30th.

Apple stock fell 3.6% after the tech giant reported the steepest quarterly drop in iPhone sales in two years, although its quarterly revenue and profit beat expectations late Thursday.

Facebook stock rose 0.2% after the social media giant expressed caution about the future despite reporting strong rises in advertising sales. The company said that pandemic-related uncertainty could make for a difficult 2021.

Twitter stock slumped 15% after it added fewer users than Wall Street had expected and said a rise in expenses would accelerate in the fourth quarter.

Alphabet stock rose 6.6% after Google’s parent beat estimates for the third quarter as businesses resumed advertising with the internet’s biggest supplier of ads.

Amazon stock fell 1.4% after the e-commerce giant forecast a jump in holiday sales, but also crucially costs related to Covid-19, consumers continued to shop more online during the pandemic.

AT&T stock fell 0.5% after Nikkei reported Sony is in final talks to acquire the telecommunication giant’s U.S. animation-streaming service Crunchyroll in a deal worth more than $1 billion.

Marriott International stock fell 0.9% after Britain’s data watchdog fined the hotel chain almost $24 million following a cyber attack on its Starwood hotels reservation system, in one of the largest data breaches in history.

Under Armour stock rose 8.2% after the retailer beat quarterly revenue estimates, helped by online demand for athletic apparel for home or outdoor workouts.

KKR stock rose 1.2% after the private equity firm said its after-tax distributable earnings rose 6% year-on-year in the third quarter, driven by growth in management fees and transaction fees from its capital markets business.

Chevron stock rose 0.2% after the oil major posted an adjusted third-quarter profit, beating expectations of a loss, as oil prices recovered from spring lows and spending cuts helped operating margins

McDonald’s stock fell 0.8% after the fast food giant was hit with a potentially multi-billion-dollar lawsuit by black franchise owners who accused the company of racial discrimination for steering them to underperforming stores.

Exxon Mobil stock fell 0.5% after the oil company posted its third straight quarterly loss on Friday, as the pandemic hits demand of oil and hurts prices.

Altria stock rose 1.4% despite the cigarette giant taking a $2.6 billion charge on its investment in Juul Labs in the third quarter, mainly due to lower revenue projection from the e-cigarette maker.

Colgate-Palmolive stock rose 1.7% after the household products maker beat revenue and earnings estimates, and offered up positive sales guidance for the full year.

AbbVie stock rose 2.6% after the pharma posted better-than-expected quarterly sales and raised its full-year adjusted profit forecast, helped by demand for its Botox and other treatments.

Honeywell stock fell 2.2% despite the conglomerate’s third-quarter revenue topping forecasts, helped by cost-cutting and strong demand for warehouse automation equipment.

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