The Nasdaq is once again under the most downward pressure as the futures point to a decline at the opening of Friday’s trade after two days of mixed results. Here are five stocks to watch on Friday.
Stocks to watch
- Apple (NASDAQ:AAPL) posted a quarterly profit that just scraped beyond projections. Revenue increased by 8% from the previous year to $90.15 billion, exceeding expectations by about $1.4 billion. This occurred as iPhone sales increased by almost 10% from the previous year. Looking ahead, AAPL predicted that its Q1 sales rate would probably slow down in comparison to Q4.
- After the semiconductor manufacturer beat expectations on both its top and bottom lines, Intel (NASDAQ:INTC) increased in premarket trading, rising over 7%. The company also lowered its full-year revenue forecast, blaming “continued macroeconomic challenges,” although it also said that it was starting a campaign to slash costs by up to $10 billion by 2025.
- Exxon Mobil was helped by earnings news as well (NYSE:XOM). As the business reported a record quarterly profit of $19.66 billion, shares of the oil giant increased by approximately 2% before the opening bell. The company’s top and bottom lines also exceeded analysts’ expectations.
- The competing oil giant Chevron (NYSE:CVX) also reported results that exceeded expectations. With sales that increased by 49% from the previous year to reach $66.6 billion — more than $5 billion over consensus — the corporation easily surpassed expectations.
- For its most recent quarter, Colgate-Palmolive (NYSE:CL) released conflicting figures. With its earnings result, the corporation barely beat forecasts. However, because of fluctuations in foreign exchange rates and inflation, CL fell short in terms of revenue.
In other news, Twitter continues to dominate the headlines as the dominant social media platform transitions to a private firm. Elon Musk, the new owner, reportedly intends to replace the company’s outgoing management team as CEO.
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