Yahoo Finance Apple, Visa Rise Premarket; Robinhood, Caterpillar and Chevron Fall
By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Friday, January 28th. Please refresh for updates.
Apple (NASDAQ:AAPL) stock rose 2.2% after the iPhone maker posted record quarterly revenue, defying global supply shortages. Revenues climbed 11% year-on-year to almost $124 billion in the fourth quarter as sales of most of its devices soared. Revenue from services, seen as the key to its future growth, jumped 24% to top $19 billion.
Robinhood (NASDAQ:HOOD) stock fell over 13% after the trading app reported a larger than expected loss in the fourth quarter, disappointing revenue guidance for the first quarter of this year as well as a drop in monthly active users.
Visa (NYSE:V) stock rose 3.7% after the credit card company beat quarterly profit estimates as more international travel and e-commerce drove an increase in spending volumes.
Western Digital (NASDAQ:WDC) stock fell over 10% after the maker of hard drives and storage systems provided a current quarter outlook that fell short of expectations despite healthy fourth quarter numbers.
Chevron (NYSE:CVX) stock fell 4.5%, pulling back from Thursday’s all-time high, after the oil giant missed fourth-quarter profit expectations despite sharply higher oil and gas prices.
Caterpillar (NYSE:CAT) stock fell 1.5% after increased costs weighed on the industrial giant’s profit margins, even as the company announced strong sales.
Tesla (NASDAQ:TSLA) stock fell 1.6%, continuing to fall after Thursday’s sharp selloff after the electric car manufacturer again postponed the launch of new models, due to the difficulty of sourcing components.
VF Corp (NYSE:VFC) stock fell 4.8% after the apparel retailer cut its full-year revenue forecast, hit by delivery delays and worker shortages at its Vietnam factories due to the pandemic.
LVMH (OTC:LVMUY) ADRs fell 3.5%, handing back some of the previous day's 5% gains, despite the French luxury giant projecting strong demand for its handbags, watches and jewelry. Owner Bernard Arnault warned that international travel - which has been a big supporter of sales in the past - may not return before next year or 2024. H&M (OTC:HNNMY) ADRs are likely to rise after the world's second-biggest clothing retailer reported a bigger than expected jump in quarterly profit in the final quarter of last year and announced the aim of doubling sales by 2030.
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Apple, Visa Rise Premarket; Robinhood, Caterpillar and Chevron Fall
