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Microsoft, Mastercard Fall Premarket; General Electric Rises

Published 10/28/2020, 08:31 AM
Updated 10/28/2020, 08:32 AM
© Reuters.

© Reuters.

By Peter Nurse 

Investing.com -- Stocks in focus in premarket trade on Wednesday, October 28th. Please refresh for updates.

  • Microsoft (NASDAQ:MSFT) stock fell 2.6% despite the software giant reporting strong third-quarter earnings, with its cloud computing business impressing and its Teams messaging and collaboration software winning new users.

  • Mastercard (NYSE:MA) stock fell 4.4% after the payments processor reported a drop in third-quarter revenue and profit, with the pandemic hurting both business and tourism-related payments, especially of the cross-border sort.
  • United Parcel Service (NYSE:UPS) stock fell 2.3% despite the delivery company beating profit expectations, helped by a surge in home deliveries due to the Covid-19 pandemic.

  • General Electric (NYSE:GE) stock rose 5.2% after the conglomerate reported a smaller quarterly loss and positive cash flow, as the company cut costs in its aviation unit and saw improvement in revenue in its power business.

  • Boeing (NYSE:BA) stock fell 0.7% after the aircraft maker reporting its fourth straight quarterly loss, admittedly a smaller loss than the Street expected. The company also announced further cost cutting and reaffirmed its expectation that U.S. deliveries of its key 737 MAX jet would resume before year-end.

  • First Solar (NASDAQ:FSLR) stock rose 11% after the solar-panel maker posted better than expected quarterly earnings, and also issued strong earnings guidance for the fourth quarter.

  • FireEye (NASDAQ:FEYE) stock rose 1.8% after the cybersecurity company beat expectations for its third-quarter earnings, thanks to healthy sales from its product, subscription and support services.

  • Six Flags (NYSE:SIX) stock slumped 11% after the theme park operator posted weak third-quarter earnings, with attendances hurt by the ongoing pandemic.

  • Sony (NYSE:SNE) ADR rose 4.6% after the Japanese conglomerate raised its annual profit outlook after posting a record second-quarter profit, helped by its gaming business.

  • Blackstone (NYSE:BX) stock rose 1.5% after the private equity and hedge fund group reported third-quarter distributable earnings rose 9% year-on-year.

  • Fiat Chrysler (NYSE:FCAU) stock fell 3.1% despite the car maker returning to an operating profit in the third quarter as the auto industry rebounded, especially in the U.S. 

  • Garmin (NASDAQ:GRMN) stock rose 3.4% after the maker of GPS and fitness products beat expectations for its quarterly earnings, helped by particular strength in devices for boating and outdoor activities. 

  • Tupperware (NYSE:TUP) Brands stock rose 23% after the maker of home storage products reported revenue well above estimates, profiting from a sales bump from consumers cooking and storing more food at home.

  • Deutsche Bank (DE:DBKGn) (NYSE:DB) ADRs rose 1.3% after the German-based bank reported a surprise return to profit in the third quarter, helped by an improved performance by its investment banking operations.

 

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