By Geoffrey Smith
Investing.com -- Stocks in focus in premarket on Thursday, 30th April. Please refresh for updates.
- Facebook (NASDAQ:FB) stock was up 7.1% after its first-quarter profit and revenue beat expectations, and the company said that advertising revenue had held up so far in April, as locked-down users spent more time on the company’s various social media and messaging apps.
- Microsoft (NASDAQ:MSFT) stock was up 1.0% after the company reported a 15% rise in earnings, due largely to strong demand for its cloud hosting business Azure as businesses shift more of their activity to online formats.
- Tesla (NASDAQ:TSLA) stock was up 7.1% after the carmaker posted net earnings per share of $1.24 for the quarter, in contrast to expectations for a modest loss.
- That was an unprecedented third straight quarter of profit for the company. Free cash flow was negative, however.
- The company is still not able to reopen its only U.S. manufacturing plant at Fremont in California.
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McDonald’s (NYSE:MCD) stock was down 2.0% after a quarterly update that fell short of expectations. Most of its restaurants limited their services to delivery, drive-thru and take-away in the quarter to curb the spread of Covid-19.
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The world's largest fast-food company said about 75% of its about 39,000 restaurants around the world were operational as of Thursday, including almost all of its nearly 14,000 restaurants in the U.S.
- Twitter (NYSE:TWTR) stock fell 6.3% after the company's chief financial officer Ned Segal told a conference call that advertising revenue had barely rebounded in April from its slump in March.
- The comments overshadowed the fact that the company posted a smaller net loss than expected in the first quarter, at only 8c.
- Royal Dutch Shell (LON:RDSa) (NYSE:RDSa) ADRs were down 11.1% after the oil and gas giant cut its dividend for the first time since the Second World War.
- The quarterly dividend will be 'reset' at 16c a share, from 47c previously.
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American Airlines (NASDAQ:AAL) stock was down 7.7% after the group’s first quarter revenue and earnings came in below expectations.
- The airline swung to a $2.2 billion loss in the quarter and is currently burning through $70 million a day, CEO Doug Parker said.
- Altria (NYSE:MO) stock was up 4.0% after the tobacco giant beat expectations on both top and bottom lines in the first quarter.