Stocks making the biggest moves premarket: Boeing, AT&T and more

The exterior of a 787 Dreamliner at the Boeing manufacturing facility in North Charleston, on December 13, 2022.

Logan Cyrus | AFP | GettyImages

Check out the companies making headlines before the bell.

Boeing Boeing’s stock dropped about 1.7% premarket after the aircraft maker posted earnings and revenue that missed expectations, despite a demand recovery. The company cited labor and supply shortages for the disappointing numbers.

News Corporation, Fox News — Shares of News Corp and Fox News were up 4.9% and 1.8%, respectively, after Rupert Murdoch ditched plans to merge the two companies, a proposition that met pushback from shareholders.

AT&T — Shares were up 1.8% after the telecommunications giant’s fourth-quarter report came out Wednesday, showing an increase in subscribers but forecasting an annual profit below expectations.

Microsoft — Microsoft shares declined by nearly 3% after the software giant shared a dismal revenue forecast for the current quarter. The tech bellwether topped earnings expectations but said new business growth slowed in December, including within its Azure segment.

Omnicom Shares of the global media firm were down 3% after it was disclosed that BlackRock Inc. added to its stake in the company, now owning 9.4% of the shares.

sunrun, SunPower — The solar companies both fell more than 3% after being downgraded by Barclays due to a potential slowdown in solar demand. Sunrun was downgraded to equal weight from overweight, while SunPower’s rating was slashed to underweight from equal weight.

Enphase — Shares slide 4% following a downgrade from Piper Sandler to neutral from buy. The firm pointed to a potential reset in the US residential solar market coming in 2023, while still acknowledging that the company has a strong product, management and position.

Capital One — The financial stock dropped 2.3% after Capital One reported disappointing quarterly results. The company earned $3.03 per share on revenue of $9.04 billion. Analysts polled by StreetAccount expected a profit of $3.87 per share on revenue of $9.07 billion. Net interest income also came below expectations.

Intuitive Surgical – The maker of robotic surgical systems suffered a 9% drop after the company reported fourth-quarter earnings and revenue that fell just short of expectations. The company cited a Covid-19 resurgence in China that negatively affected procedure volumes in the area.

F5 Shares of the web application security company slid 3.7% after F5 reported revenue for its most recent quarter that missed analyst expectations and issued weaker-than-expected earnings guidance for the second quarter.

— CNBC’s Alex Harring, Samantha Subin, Tanaya Macheel, Carmen Reinicke, and Michelle Fox Theobald contributed reporting.

.

Leave a Comment

Your email address will not be published. Required fields are marked *