Here are the companies with the most significant movements in premarket trading:
– Meta: Shares soared 17% following the report of a tripling of profits in the fourth quarter and the announcement of its first-ever dividend payout. Earnings per share exceeded analysts’ expectations at $5.33, with revenue also surpassing estimates at $40.11 billion.
– Amazon: The e-commerce giant experienced a 7% surge in its stock price after reporting higher-than-expected earnings and revenue for the fourth quarter. Earnings per share were at $1, exceeding the forecasted 80 cents, and revenue reached $169.96 billion, higher than the expected $166.21 billion.
– Bristol-Myers Squibb: Shares increased by 2.4% after the pharmaceutical company reported adjusted earnings and revenues for the fourth quarter that outperformed estimates.
– Chevron: The oil company’s stock slightly increased following mixed earnings results for the fourth quarter and an 8% raised dividend.
– Deckers Outdoor: The footwear company witnessed a 10% jump in its stock price after beating analysts’ expectations for fiscal third-quarter earnings per share and revenue.
– Exxon Mobil: Shares experienced a slight decline of less than 1% after the oil giant posted fourth-quarter earnings that beat analysts’ expectations, despite a 40% decrease in net income due to weaker oil prices.
– Skechers: The stock fell by nearly 9% after the sneaker manufacturer reported mixed fourth-quarter results and issued a subdued guidance for the full year, which did not align with analysts’ expectations.
– Apple: Shares of the consumer tech company dropped by more than 3% following its weaker-than-expected guidance for the current quarter and a sales decline in China, despite reporting higher-than-expected earnings per share for the fourth quarter.
– Clorox: The consumer products manufacturer’s shares rallied 7% after reporting an earnings and revenue beat for its fiscal second quarter.
– Microchip Technology: The semiconductor company’s stock slipped nearly 3% after providing a weak outlook for the fiscal fourth quarter despite posting revenue in line with analysts’ expectations.
– Cigna: The health insurer’s stock added 3.6% after reporting an earnings and revenue beat for the fourth quarter and raising its dividend by nearly 14%.
– Mattel: The owner of Barbie saw a nearly 3% increase in its stock price following a report that activist investor Barington Capital has acquired an undisclosed stake in the company and is seeking changes to boost its stock.
– Sea Limited: The internet stock rose 1.6% after being upgraded by Citi to buy from neutral, along with an increased price target indicating potential significant growth for the U.S. listed shares. Citi cited the e-commerce platform reaching an “inflection point.” — CNBC’s Hakyung Kim, Sarah Min and Jesse Pound contributed reporting.
