Various companies made headlines before the bell, including Microsoft, Alphabet, Snap, Intel, Exxon Mobil, Chevron, AutoNation, AbbVie, Colgate-Palmolive, Skechers, DexCom, and Charter Communications. Microsoft’s shares gained 4% after reporting fiscal third-quarter results that exceeded expectations, driven by strong performance in its Azure business. Alphabet surged over 11% after posting first-quarter results that topped estimates, announcing its first-ever dividend and a $70 billion buyback. Snap’s stock saw a 22% surge after reporting better-than-expected first-quarter results, with revenue increasing by 21% due to improvements in its advertising platform.
On the flip side, Intel saw its shares drop over 8% after its first-quarter financial results were met with disappointment from investors. While the chipmaker’s adjusted earnings per share beat estimates, it fell short in sales, leading to a weak forecast for the current quarter. Exxon Mobil’s shares dipped nearly 2% after its first-quarter earnings missed consensus estimates, despite reporting revenue that surpassed expectations. Chevron also saw a slight decline in shares after its first-quarter revenue missed analyst estimates, although earnings per share topped consensus estimates.
AutoNation saw a 1% increase in shares after surpassing earnings per share expectations for the first quarter. AbbVie’s stock rose over 1% following a first-quarter report that beat expectations, with the company also raising its full-year earnings forecast. Colgate-Palmolive’s shares rose about 1% after the company’s quarterly results exceeded expectations in both earnings per share and revenue. Skechers experienced a share price jump of over 10% after posting first-quarter results that beat analyst expectations in both earnings per share and revenue.
DexCom’s shares dropped about 5% despite beating quarterly expectations on the top and bottom lines, while Charter Communications saw a 3.4% drop after reporting weaker-than-anticipated first-quarter earnings. Overall, the stock market saw a mix of positive and negative reactions to the earnings reports from these companies, with some exceeding expectations and others falling short. Investors will continue to monitor these companies and their performance in the coming quarters to gauge their growth and profitability.
