By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Friday, July 31st. Please refresh for updates.
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Apple (NASDAQ:AAPL) stock rose 7.4% after the iPhone maker reported revenue gains across every category and in every geography as consumers working and learning from home turned to its products and services. Apple also announced a 4-for-1 stock split.
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Amazon (NASDAQ:AMZN) stock climbed 6%, helped by a doubling on its bottom line, with sales rising 40% as people staying at home bought more groceries and other essentials on its platform.
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Facebook (NASDAQ:FB) stock rose 7.3% after the social media giant reported a doubling in quarterly profit, while revenue soared as more businesses used digital advertising tools to tap a surge in online traffic amid the pandemic.
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Alphabet (NASDAQ:GOOGL) stock fell 0.4% after Google’s owner reported its first quarterly sales slide in its 16 years as a public company. That said, ad sales did recover as more advertisers tapped the search engine to reach potential customers.
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Expedia (NASDAQ:EXPE) stock fell 3% after the travel giant reported a 82% year-on-year slump in second quarter revenue, in what the company called the “worst quarter the travel industry has seen in modern history.”
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Shake Shack (NYSE:SHAK) stock fell 4.1% after the burger company reported a 49% drop in comparable sales in its second quarter, with the pandemic forcing it to concentrate on drive-through restaurants.
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Caterpillar (NYSE:CAT) stock rose 0.6% after the heavy equipment giant reported a 70% drop in quarterly earnings, not as bad as expected after the pandemic made customers wary of big capital outlays.
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Ford (NYSE:F) stock rose 3.3% after the auto giant reported a second-quarter adjusted pretax loss of $1.9 billion, a weak number, but still more than $3 billion better than expected.
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Gilead Sciences (NASDAQ:GILD) stock fell 3.2% after the drugmaker reported a large loss in the second quarter on a drop in usage of its other drugs outside of Covid-19 treatment remdesivir. It also took a large charge following an acquisition.
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Chevron (NYSE:CVX) stock fell 3.6% after the oil producer posted a large quarterly net loss on the back of charges of $5.2 billion due to the collapse in oil prices as lockdowns killed oil demand.
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Exxon Mobil (NYSE:XOM) stock dropped 1.6% after the oil major reported a loss of $1.08 billion in the second quarter, its second straight quarterly loss, on the same factors as those affecting Chevron - albeit without the big write-downs.
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Merck (NYSE:MRK) stock rose 1.9% after the pharma giant raised its 2020 outlook, saying the worst of the Covid-19 impact was behind it. The company reported a 7.6% fall in second-quarter sales as visits to doctors' offices dropped during the pandemic.
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Electronic Arts (NASDAQ:EA) stock rose 2.2% after the video games publisher recorded strong gains in revenue in its fiscal first quarter with players returning to their games during the lockdown.
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Under Armour (NYSE:UA) stock soared 16% despite reporting a large drop in revenue and a hefty net loss, as expectations had been lowered drastically and online sales increased.
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Sanofi (PA:SASY) (NASDAQ:SNY) ADR gained 1% and GlaxoSmithKline (NYSE:GSK) ADR rose 1.9% after the U.S. government agreed to pay $2.1 billion for Covid-19 vaccines to cover 50 million people and to underwrite the drug makers' testing and manufacturing.
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AbbVie (NYSE:ABBV) stock rose 1.4% despite reporting a second-quarter loss, as sales in its recently acquired wrinkle treatment Botox dropped in the lockdown period. AbbVie had earlier warned about a potential hit to sales of this key product.
- Fiat Chrysler (NYSE:FCAU) stock fell 0.2% after the automaker posted a smaller-than-expected operating loss in the second quarter, as it attempted to mitigate the damaging effects of the pandemic.