Check out the companies making headlines before the bell. Amazon — The e-commerce giant popped 7% after posting stronger-than-expected earnings and robust cloud and advertising growth. Revenues for its Amazon Web Services grew 19% on a year-over-year basis. Apple — Shares dropped 1.6% even after the technology giant surpassed top-and-bottom line estimates for the recent quarter, and showed 6% revenue growth. Net income declined as company paid a one-time charge connected to a tax decision in Europe. Atlassian – The stock surged more than 21% on the heels of the software company’s better-than-expected quarterly results for the fiscal first quarter. Atlassian earned 77 cents per share, excluding items, on revenue of $1.19 billion. Analysts polled by FactSet had penciled in 64 per share and $1.16 billion in revenue. The company also raised its revenue growth forecast for the full year. Intel — Shares rallied more than 5% on stronger-than-expected earnings and upbeat guidance . The chipmaker posted adjusted earnings of 17 cents a share on $13.28 billion in revenue. That topped the 2-cent loss per share and $13.02 billion in revenue expected by analysts polled by LSEG. Abbott Laboratories — Shares of the biotech company rose 5% after a jury in Missouri cleared Abbott of liability in a baby formula case. There are still other similar cases pending against Abbott. Boeing — Shares gained 2% after the agreeing to a new offer with its union as it hopes to bring an end to a seven-week long strike. The deal would include 38% raises over the next four years, with a vote on the proposal slated for Monday. Avis Budget — The car rental company slipped 1.5% after posting third-quarter earnings that fell short of Wall Street’s estimates. Earnings per share came in $1.53 below the $8.18 estimates from analysts polled by LSEG. The company reports revenues of $3.48 billion per share, versus an LSEG estimates of $3.53 billion. Chevron — The oil giant’s stock rose 2%. Chevron topped Wall Street’s third-quarter estimates and returned more than $7 billion to shareholders during the period through buybacks and dividends. Super Micro Computer — Shares of the AI server maker lost 3%, building on their more than 38% week-to-date loss after disclosing that Ernst & Young had resigned as its auditor due to concerns over its accounting practices and the independence of its board. Exxon Mobil — Shares of the oil giant added nearly 2% after Exxon beat Wall Street’s third-quarter earnings expectations, reaching its highest production level in more than 40 years. Exxon posted earnings per share of $1.92, excluding items, while analysts polled by LSEG expected $1.88 per share. The company’s revenue of $90 billion came out slightly short of analysts’ forecast of $93.94 billion, however. Juniper Networks — Shares dipped slightly. Juniper Networks posted preliminary third-quarter earnings and revenue that topped estimates, but did not provide financial guidance for 2024, citing its pending acquisition by Hewlett Packard Enterprise . Juniper Networks earned 48 cents per share, on an adjusted basis, more than the StreetAccount consensus estimate of 45 cents per-share earnings. Revenue of $1.33 billion topped the FactSet estimate of $1.26 billion. — CNBC’s Jesse Pound, Sean Conlon, Pia Singh and Sarah Min contributed reporting
https://www.cnbc.com/2024/11/01/stocks-making-the-biggest-moves-premarket-amzn-aapl-team.html
