By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Friday, April 23rd. Please refresh for updates.
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Intel (NASDAQ:INTC) stock fell 2.1% after the chip maker’s second-quarter profit forecast fell short of expectations, even as it raised its annual sales outlook, as the company spent heavily to get its manufacturing operations back on track and catch up to rivals with faster chips.
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Snap (NYSE:SNAP) stock rose 5% after the social media company beat estimates for user growth and revenue as the improved Android version of its popular messaging app Snapchat attracted more users.
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Honeywell (NYSE:HON) stock fell 1.6% after the industrial conglomerate reported a 9.7% fall in quarterly profit, hurt by lower demand in its main aerospace business due to the coronavirus crisis.
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Kimberly-Clark (NYSE:KMB) stock slumped 4.4% after the personal care company disappointed in its latest quarter and gave a weaker than expected full-year forecast, citing supply chain issues. The company's hygiene-related products had been a notable winner last year from the pandemic.
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American Express (NYSE:AXP) stock fell 3.6% after the credit card issuer’s total revenue fell 12% in the first quarter, only beating profit estimates after it released more than $1 billion worth of funds it had set aside to cover potential coronavirus loan losses.
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Mattel (NASDAQ:MAT) stock rose 6.3% after the toy maker reported record 47% sales growth for its latest quarter, boosted by strong sales of Barbie dolls and Hot Wheels cars as lockdowns around the world increased demand for toys.
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Delta Air Lines (NYSE:DAL) stock rose 0.9% after the airline ordered a further 25 Airbus A321neo aircraft, adding to the 100 A321neo planes Delta ordered in 2017, and showing confidence in the return of substantial air travel post pandemic.
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Celanese (NYSE:CE) stock rose 2.6% after the chemicals and specialty materials company beat expectations with its first quarter, boosted by rising prices which more than offset a slight decline in sales.
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Boston Beer (NYSE:SAM) stock rose 6.2% after the Sam Adams brewer soundly beat expectations for its latest quarter, helped by a jump in sales for its Truly hard seltzer brand.
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Silicon Laboratories (NASDAQ:SLAB) stock soared over 16% after Skyworks Solutions (NASDAQ:SWKS), up 4.1%, agreed to buy its infrastructure and automotive business for $2.75 billion in cash.