Google, Amazon, Apple, Interest, and Intel are the biggest moving stocks. Amazon fell as much as 19 percent on Thursday after the company posted lower-than-expected third-quarter earnings and disappointing fourth-quarter sales.
Google remains the most favorable stock despite weak quarterly performance and a series of price cuts due to fears of a recession. Google stock has lost 36.4% so far this year. The company’s stock has commanded a Strong Buy consensus rating on Tip Ranks, with 30 consensus Buy ratings. Alphabet has an average price target of $131.77.
According to the FactSet report, revenue has increased by 15% compared to last year. But it has forecast revenue in the range of Rs 140 billion to Rs 148 billion for the fourth quarter. But the midpoint of 144 billion in the fourth quarter was below expectations of 155.1 billion.
Apple shares fell nearly 4 percent after its quarterly financial report. Apple still beat Wall Street estimates for its earnings and revenue. However, the company’s shares pared their losses marginally.
Shares of chip maker Intel gained 7.5%. That’s because the company says it will deliver up to $10 billion in cost reductions and efficiency improvements by 2025.
Shares of the company rose 15% in the post-market after Pinterest topped third-quarter earnings and revenue estimates. Interest says operating costs will increase by 35% annually through 2022.
Vertex Pharmaceuticals: Outside the company’s shares gained 3 percent after strong quarterly financial results. Earnings in the third quarter beat analysts’ expectations.
Capital One shares: The bank’s shares fell 6% in extended trading after third-quarter earnings missed analysts’ average per-share estimates by about 18%.
Gilead Sciences: The company posted better-than-expected earnings. The company released upbeat earnings and overall product sales guidance. The pharma company added four percent after third-quarter monthly earnings beat analysts’ estimates, according to FactSet.