Microsoft, Boeing, Humana rise premarket; Alphabet falls
Investing.com -- Stocks in focus in premarket trade on Wednesday, April 26th. Please refresh for updates.
Microsoft (NASDAQ: MSFT) stock rose 8% after Britain’s top competition regulator moved to block the software giant’s expensive acquisition of video game publisher Activision Blizzard (NASDAQ: ATVI), which fell 11%. Microsoft’s key intelligent cloud division posted late Tuesday $22.1 billion in revenue in the first quarter of 2023, an uptick of 16% compared to the same period last year.
Alphabet (NASDAQ: GOOGL) stock fell 0.6% after the Google parent posted a slight slip in quarterly advertising revenue to $54.55B.
Boeing (NYSE: BA) stock rose 3.8% after the aircraft manufacturer announced plans to boost 737 MAX production to 38 planes per month while backing its annual cash flow goal.
- First Republic Bank (NYSE: FRC) stock fell 15%, set to hit a record low as investors worry about the troubled lender's plans to turn around its business.
Tesla (NASDAQ: TSLA) stock fell 0.2% after Jefferies downgraded its stance on the electric vehicle manufacturer to ‘hold’ from ‘buy’, after last week’s warning of continued price cuts.
General Dynamics (NYSE: GD) stock rose 1% after the defense company reported a 5.2% rise in quarterly revenue, boosted by strong demand for weapons amid geopolitical instability.
Humana (NYSE: HUM) stock rose 1.9% after the health insurer raised its full-year adjusted profit forecast, banking on strength in its government-backed schemes.
CME Group (NASDAQ: CME) stock rose 1.3% after the exchange operator posted higher first quarter profits, helped by market volatility amid a banking crisis and worries over slowing macroeconomic growth.