By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Friday, July 24th. Please refresh for updates.
Intel (NASDAQ:INTC) stock fell 13% after reporting late Thursday that its next generation of semiconductor technology will be delayed. Rival Advanced Micro Devices (NASDAQ:AMD), which is already established in this technology, gained 6.4%.
Apple (NASDAQ:AAPL) stock dropped 1.5% following a report that the tech giant will delay its annual fall event, when it releases new iPhone models, until the latter half of October instead of early September. Additionally. Several states are probing Apple for potential consumer protection violations, according to a report.
Moderna (NASDAQ:MRNA) stock dropped 4.8% after losing a bid to invalidate a U.S. patent owned by rival Arbutus Biopharma (NASDAQ:ABUS), up 13%, which could force Moderna to hand over a cut of profits of next-generation vaccines, including a potential coronavirus vaccine.
Mattel (NASDAQ:MAT) stock rose 3.2% after the toy maker reported second-quarter sales that were not as bad as feared. Net toy sales declined 15% on a year-over-year basis, but sales of its flagship Barbie doll soared.
Skechers (NYSE:SKX) stock rose 8.4% after the footwear maker reported a narrower-than-expected adjusted second-quarter loss and sales above expectations, even with revenue dropping 42% on the year.
Goldman Sachs (NYSE:GS) stock rose 0.6% after the investment bank agreed to a $3.9 billion settlement with Malaysia over the multibillion-dollar 1MDB scandal.
Walt Disney (NYSE:DIS) stock fell 2.2% after the entertainment giant said it would delay the release of its new Mulan movie, as well as the next instalments of the Star Wars and Avatar franchises. ViacomCBS (NASDAQ:VIAC) stock fell 1.1% after announcing the delay of its new Top Gun movie. Movie theater operator AMC Entertainment (NYSE:AMC) fell 2.0% as prospects for an early and full reopening faded further.
- Honeywell (NYSE:HON) stock rose 0.7% after the diversified industrial company reported smaller than expected drops in second-quarter profit and sales. A tough quarter had been expected given the company is involved in the aerospace and energy markets, both of which have been hit hard by the global pandemic.