A Starbucks store is seen inside the Tom Bradley terminal at LAX airport in Los Angeles, California.
Lucy Nicholson | Reuters
Check out the companies making headlines in premarket trading.
21 hours ago
Apple — The tech giant saw its stock fall about 2% in premarket after the company missed expectations for revenue, profit, and sales for many of its lines of business. Apple’s overall sales for the holiday quarter fell 5% year over year, marking the company’s first top-line decline since 2019.
Amazon — Amazon dropped 4% after the e-commerce giant reported its fourth-quarter results. Although the company’s quarterly sales beat analysts’ estimates, current-quarter guidance came in somewhat light of expectations. The e-retailer estimates its first-quarter revenue to fall between $121 billion and $126 billion. Meanwhile, analysts were expecting sales to come in at $125.1 billion, according to Refinitiv.
Ford – Shares of Ford slipped 6.5% after the company reported earnings that badly missed Wall Street’s earnings expectations. The automaker reported adjusted earnings per share of 51 cents on $41.8 billion in revenue where analysts polled by Refinitiv expected adjusted earnings per share of 62 cents and $40.37 billion in revenue. The company also posted a net income that was down more than $1 billion on the year.
Starbucks — The coffee giant’s shares slid 2.10% after the company’s earnings report fell short of expectations. Starbucks reported earnings per share of 75 cents compared to Refinitiv analysts’ projections of 77 cents. Revenue also fell short of the $8.78 billion Refinitiv estimates, coming in at only $8.71 billion. Weakened international demand, particularly in its second-largest market China, weighed on the results.
Qualcomm — The semiconductor group saw its stock drop almost 3% after its top line fell short during its fiscal first quarter. Qualcomm’s revenue fell 12% year over year during the quarter. The company cited macroeconomic conditions and higher channel inventory as headwinds to its results. The company’s stock has fallen 24% in the past year.
Nordstrom — Shares of Nordstrom rallied 27% after The Wall Street Journal reported that activist investor Ryan Cohen is building a sizeable stake in the retailer. The report, which cites people familiar with the matter, also said Cohen will push for changes to Nordstrom’s board following a sharp stock price drop.
Clorox — The cleaning products producer saw its shares rise 3.55% before the bell on the back of strong quarterly numbers. Clorox posted fiscal second quarter earnings of 98 cents per share, excluding items, on revenue of $1.72 billion. That compares to earnings of 65 cents per share on revenue of $1.66 billion estimated by analysts, according to Refinitiv.
— CNBC’s Fred Imbert, Carmen Reinicke, Sarah Min and Yun Li contributed reporting
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