Pre-market US stocks | Amazon AWS business slowed down in April, second-tier social stocks Snap and Pinterest plummeted, Intel rose more than 6%
Intel rose more than 6%, Amazon fell more than 2%, Pinterest fell 14%, Snap plummeted more than 18%, Cloudflare dropped nearly 26%, Alibaba fell nearly 1%, JD.com fell 0.7%, PDD fell 0.5%, BIDU-SW fell 0.65%, XPENG-W fell nearly 2%, NIO-SW fell nearly 1%.
US Stock News
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ExxonMobil: Adjusted net profit for the first quarter was $11.62 billion, up from $8.83 billion in the same period last year. It is expected to buy back up to $17.5 billion in shares this year.
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Chevron: Adjusted earnings per share for the first quarter were $3.55, beating market expectations of $3.38. The expected annual share buyback size is expected to increase to $17.5 billion.
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Snap: The number of daily active users in the first quarter reached 383 million, a year-on-year increase of 15%; the average revenue per user was $2.58, compared to $3.2 in the same period last year.
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Intel: It is expected that the second quarter's adjusted revenue will be between $11.5 billion and $12.5 billion, with an adjusted loss per share of $0.04.
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Amazon: In the first quarter, the net sales of Amazon Web Services (AWS) were $21.35 billion, a year-on-year increase of 16%, and market expectations were $21.03 billion. It is expected that the net sales in the second quarter will be between $127 billion and $133 billion, and market expectations are $130.1 billion; operating profit is expected to be between $2 billion and $5.5 billion, and market expectations are $4.741 billion.
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According to The Information's report on Thursday, Meta's advertising, commercial information, and business departments will be merged into a new department.
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According to The Information, Apple software engineers proposed to integrate the machine learning technology behind chatbots such as ChatGPT into the company's Siri voice assistant.
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Pinterest's first-quarter revenue was $603 million, a 5% increase from $575 million in the same period last year; net loss was $209 million, compared to a net loss of $5.3 million in the same period last year, equivalent to a year-on-year expansion of 3850%.
Pre-market Movement
Before the US stock market opened, Dow Jones futures, Nasdaq futures, and S&P 500 index futures all fell by more than 0.3%.
Amazon fell more than 2%, and the growth rate of Amazon Web Services (AWS) in April was 5% lower than that in the first quarter.
Snap fell more than 18%, and the first-quarter revenue of $988 million was lower than market expectations.
Cloudflare fell nearly 26%, and it is expected that the full-year revenue will be lower than the market estimate of $1.33 billion.
Pinterest fell 14%, and the net loss expanded.
Intel rose more than 6%, and it is expected that the adjusted revenue for Q2 will be between $11.5 billion and $12.5 billion.
Apple fell 0.5%, Alphabet-C fell 0.7%.
Alibaba fell nearly 1%, JD.com fell 0.7%, Pinduoduo fell 0.5%, Baidu fell 0.65%, Xiaopeng fell nearly 2%, and NIO fell nearly 1%.
Institutional Viewpoints
1. Truist: Raises Activision Blizzard's Target Price from $81 to $84
Truist maintains its buy rating on Activision Blizzard, which has a total cash balance of $15.1 billion. If Microsoft abandons the acquisition after being blocked by the UK's Competition and Markets Authority, it will provide support for its potential buyback capabilities. Given the upcoming release of Diablo and the risk-return of potential buybacks, Truist remains bullish on the stock.
2. Royal Bank of Canada: Lowers Biogen's Target Price to $340 and Maintains Outperform Rating
Royal Bank of Canada stated that catalysts such as the approval of Alzheimer's therapy Leqembi, Biogen's experimental Alzheimer's drug donanemab data, CMS Alzheimer's reimbursement updates, and oral depression drug Zuranolone's PDUFA could drive Biogen's stock price. Analysts see additional appreciation potential for Biogen's "next chapter."