Check out the companies making headlines in premarket trading.
Applethe company missed expectations for revenue, profit, and sales for many of its lines of business. Apple’s overall sales for the holiday quarter fell 5% year over year, marking the company’s first top-line decline since 2019.
Amazonfourth-quarter results. Although the company’s quarterly sales beat analysts’ estimates, current-quarter guidance came in somewhat light of expectations. The e-retailer estimates its first-quarter revenue to fall between $121 billion and $126 billion. Meanwhile, analysts were expecting sales to come in at $125.1 billion, according to Refinitiv.
Fordreported earnings that badly missed Wall Street’s earnings expectations. The automaker reported adjusted earnings per share of 51 cents on $41.8 billion in revenue where analysts polled by Refinitiv expected adjusted earnings per share of 62 cents and $40.37 billion in revenue. The company also posted a net income that was down more than $1 billion on the year.
Starbucks — The coffee giant’s shares slid 2.10% after the company’s earnings report fell short of expectations. Starbucks reported earnings per share of 75 cents compared to Refinitiv analysts’ projections of 77 cents. Revenue also fell short of the $8.78 billion Refinitiv estimates, coming in at only $8.71 billion. Weakened international demand, particularly in its second-largest market China, weighed on the results.
Qualcommits top line fell short during its fiscal first quarter. Qualcomm’s revenue fell 12% year over year during the quarter. The company cited macroeconomic conditions and higher channel inventory as headwinds to its results. The company’s stock has fallen 24% in the past year.
— CNBC’s Fred Imbert, Carmen Reinicke, Sarah Min and Yun Li contributed reporting