By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Wednesday, October 27th. Please refresh for updates.
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Microsoft (NASDAQ:MSFT) stock rose 1.4% after the software giant’s Cloud business topped $20 billion in revenue for the first time, as major clients migrated critical workloads to its Cloud platform.
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Alphabet (NASDAQ:GOOGL) stock fell 0.4% after the owner of Google reported slower-than-expected growth at its YouTube and Cloud computing businesses in the third quarter.
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General Motors (NYSE:GM) stock fell 1.2% after the auto manufacturer posted a drop in quarterly profit, citing the global semiconductor shortage.
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Boeing (NYSE:BA) stock rose 0.7% after the aeroplane manufacturer posted a small adjusted profit for the third quarter, helped by a ramp-up in deliveries of its important 737 MAX jets. It also took a $183 million charge to account for flaws in its 787 Dreamliners.
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Spotify (NYSE:SPOT) stock rose 3.1% after the music streaming company beat third-quarter revenue expectations, helped by a 19% jump in paid subscribers for its premium service driven by demand in Europe and North America.
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Hilton Worldwide (NYSE:HLT) stock rose 0.1% after the hotel chain reported a quarterly profit on Wednesday, compared with a year-ago loss, following a recovery in leisure travel as pandemic-led restrictions were eased.
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Harley-Davidson (NYSE:HOG) stock rose 2.5% after the motorbike manufacturer reported better-than-expected quarterly revenue as its plan to sell more profitable bikes to affluent customers takes hold.
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Coca-Cola (NYSE:KO) stock rose 2.8% after the soft drinks giant raised its full-year profit forecast, as the reopening of entertainment venues prompted additional demand.
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McDonald’s (NYSE:MCD) stock rose 3.1% as the fast food giant reported strong global revenue growth, helped by higher prices and the popularity of newer menu items.
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Bristol Myers (NYSE:BMY) stock rose 1% after the drugmaker reported higher-than-expected third-quarter earnings and strong sales growth as its core cancer business regained momentum.
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Kraft Heinz (NASDAQ:KHC) stock rose 1.3% after the foods company reported strong quarterly sales growth, benefiting from raising prices to tackle rising inflation.