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Intel, Roku and Procter & Gamble rise premarket; Chevron, Ford fall

AuthorPeter Nurse
Published 07/28/2023, 07:49 AM
© REUTERS

Investing.com -- U.S. futures rose Friday, boosted by Intel's surprising profit ahead of the release of the Federal Reserve's preferred gauge of inflation.

Here are some of the biggest premarket U.S. stock movers today:

  • Intel (NASDAQ:INTC) stock rose 6.5% after the semiconductor chip manufacturer posted a surprise profit, saying a decline in sales of its key personal computer chips in the second quarter was not as steep as had been expected.

  • ExxonMobil (NYSE:XOM) stock fell 0.2% after the oil major reported lower-than-anticipated profit in the second quarter, hit by a decline in natural gas prices.

  • Chevron (NYSE:CVX) stock fell 0.8% after the oil company reported that its annual production forecast was near the low-end of its previously estimated range.

  • Procter & Gamble (NYSE:PG) stock rose 1.7% after the consumer goods giant beat quarterly sales estimates on resilient demand for its cleaning products, paper towels, and other household products.

  • Roku (NASDAQ:ROKU) stock soared 9.6% after the streaming device maker forecast upbeat third-quarter revenue and posted market-beating results for the second quarter on improved ad sales.

  • Ford (NYSE:F) stock fell 1% after the auto giant said it expects to see losses from electric vehicles hit $4.5 billion this year, up from the prior forecast of $3B, on higher costs, overshadowing better than expected second-quarter results and positive guidance.

  • First Solar (NASDAQ:FSLR) stock rose 11% after the manufacturer of solar panels beat second-quarter earnings expectations and announced plans to spend up to $1.1 billion on its fifth U.S. factory.

  • Enphase Energy (NASDAQ:ENPH) stock fell 16% after the energy technology company’s third-quarter revenue target fell well short of expectations due to weak demand.

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Latest comments

Ford is a good example of why the legacy automakers will reduce their commitment to electric vehicles unless the US government and Biden regime doubles down on crony capitalism. They should have let the automakers take it on the chin during the financial crisis. It would have created opportunity for new, smaller innovative companies.
Henry Ford had developed prototype EVs.
AAPL tried and gave up on EV.  Not sure "new, smaller innovative companies" could've succeeded where AAPL couldn't.  Nikola Motor facade of success was brought down by discovery of its fraud.
In case you are wondering how much of a bubble we are in, the S&P 500 us up 20% YTD, and NASDAQ is up over 40% YTD. Meanwhile, compared to a year ago S&P 500 A2 earnings are down 6.4% compared to a year ago. That is correct, despite 40+ year record inflation last year and above target inflation this year, earnings of S&P 500 companies have earned 6.4% less this year. Meanwhile bubble continues to inflate with P/Es hitting levels not seen since the 2000 bubble before it popped.
*Q2 earnings. 6.4% is the aggregate earnings decline compared to last year for S&P 500 companies reporting this quarter.
The bubble gets bigger.
Another day of FRAUD and CRIMINAL MANIPULATION on tap.
You shorted
prolly sharted too.
  But Jhon isn't talking his book or talking the more impressionable into losses or spamming.
Enphase took a big L
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