Search





Search





AnalysisStocks

Intel, Amazon, Nvidia, Snap fell premarket; Apple, Exxon rise

Investing.comAug 2, 2024 12:31 PM

View all comments（0）



Investing.com -- U.S. stock futures fell sharply Friday ahead of the release of the key nonfarm payrolls number, while tech earnings dominated sentiment.

Here are some of the biggest premarket U.S. stock movers today

Intel (NASDAQ:INTC) stock slumped 21% after the chipmaker suspended its dividend and slashed its workforce to fund a costly turnaround for its chip-making business.

Amazon (NASDAQ:AMZN) stock fell 8.3% after the online retail giant reported slowing online sales growth in the second quarter and said cautious consumers were seeking out cheaper options for purchases.

Apple (NASDAQ:AAPL) stock rose 0.6% after the iPhone maker posted better-than-expected third-quarter iPhone sales and forecast more gains betting on AI to attract buyers.

Nvidia (NASDAQ:NVDA) stock fell 3.6% following a report that the chipmaker is facing a probe from the U.S. Department of Justice over complaints from it is abusing its market dominance in developing advanced chips for artificial intelligence.

Exxon Mobil (NYSE:XOM) stock rose 0.7% after the oil major posted a better-than-expected second-quarter profit based on rising output from its purchase of shale oil firm Pioneer Natural Resources (NYSE:PXD).

Chevron (NYSE:CVX) stock fell 0.5% after the oil company reported second-quarter earnings that missed expectations due to industry-wide pressure from lower refining margins and natural gas prices.

Snap (NYSE:SNAP) stock fell 17% after the Snapchat owner forecast current-quarter results below expectations as it grapples with stiff competition from larger rivals for advertising dollars in an uncertain economy.

Block (NYSE:SQ) stock rose 3.5% after the payments firm raised its forecast for annual adjusted core earnings on Thursday and unveiled a $3 billion buyback plan, betting on resilient consumer spending.

Cloudflare (NYSE:NET) stock rose 6.2% after the software company raised its annual revenue and profit forecasts after a strong quarter.

Reviewed byTony

Disclaimer: The content of this article solely represents the author's personal opinions and does not reflect the official stance of Tradingkey. It should not be considered as investment advice. The article is intended for reference purposes only, and readers should not base any investment decisions solely on its content. Tradingkey bears no responsibility for any trading outcomes resulting from reliance on this article. Furthermore, Tradingkey cannot guarantee the accuracy of the article's content. Before making any investment decisions, it is advisable to consult an independent financial advisor to fully understand the associated risks.

Comments (0)

Click the $ button, enter the symbol, and select to link a stock, ETF, or other ticker.

Commenting Guidelines

Recommended Articles

SpaceX IPO Collides With Starship V3 First Flight Musk Must Succeed This Time. 1.75 Trillion Valuation IPO Success or Failure Hinges on This?

TradingKey - Elon Musk's SpaceX plans to officially list on June 12, which would mark the largest IPO in global market history. Reuters reports that the company intends to release its prospectus as early as Wednesday. Prior to the listing, the third-generation Starship (Starship V3)—the largest and most powerful launch vehicle to date—is scheduled for its maiden test flight this Tuesday (May 19) ET. This test may be critical for the upcoming IPO.

Jensen Huang Was at the Trump-Xi Summit and Nvidia Has Committed $40B to AI - Is NVDA a Buy at $225 Before May 20?

TradingKey - Nvidia CEO at Trump-Xi Beijing summit, $40B AI investments, IREN gigawatt deal. Q1 FY2027 May 20: $78–79B revenue expected, $300–$320 analyst targets. NVDA at $225, Fib 0.236 support.

US Pre-Market: JGB Yields Hit New High, Korean Stocks V-Shaped Rebound, Trump Military Threat to Iran, Brent Oil Breaks $111

TradingKey - Impacted by the US-Iraq War, oil prices continued to climb, with Brent crude breaking above $111 per barrel and WTI crude rising to approximately $108. The surge in oil prices exacerbated the sell-off in the bond market, sending US Treasury yields higher across the board, with the 30-year yield reaching its highest level in nearly three years. Volatility was even more pronounced in the Japanese bond market, where the 10-year JGB yield touched its highest level since 1996, and the 30-year JGB yield hit a record high since the tenor was first issued in 1999.

SpaceX IPO Date Set for June 12 at a $1.75 Trillion Valuation - Everything You Need to Know About SPCX

TradingKey - SpaceX IPO targets June 12, 2026 on Nasdaq (SPCX). Raising up to $75B at $1.75T valuation — largest IPO in history. Starlink 9M+ users, $15–16B 2025 revenue. Dual-class shares. Musk keeps control.

Samsung Strike Crisis Reverses. Wins Court Support Samsung Shares Turn to Rise 3.88% But Deeper Risks Only Just Exposed

TradingKey - According to South Korean media reports, Samsung has "decisively won" against the labor union, even though the planned strike has not yet commenced. On May 18, management and labor at Samsung Electronics initiated a second round of post-dispute mediation. Although the court approved part of the injunction application filed by Samsung, it ordered the union in South Korea to ensure that the strike does not impact the company’s production volume. Samsung’s stock price fell nearly 3.1% during Monday’s intraday session but reversed course to close nearly 4% higher. Does this mean Samsung has emerged victorious from the labor-management conflict, or has the dispute merely exposed deeper internal contradictions within the company?

Featured Tools