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Stocks - eBay, Domino’s Plunge in Pre-market, IBM, Cisco Gain

Published 07/19/2018, 08:12 AM
Updated 07/19/2018, 08:12 AM
© Reuters. Stocks in focus in pre-market trade on Thursday

Investing.com - Stocks in focus in pre-market trade Thursday:

• eBay (NASDAQ:EBAY) stock tumbled 8.27% by 8:29 AM ET (12:29 GMT) after the firm lowered its full-year revenue forecast to between $10.75 billion and $10.85 billion, from $10.9 billion to $11.1 billion earlier. Analysts were expecting revenue of $10.95 billion, according to Thomson Reuters.

• Domino’s Pizza (NYSE:DPZ) stock plunged 4.29% as second quarter revenue missed expectations.

• IBM (NYSE:IBM) stock gained 1.72% after the tech giant reported second-quarter profit and revenue that topped analysts' expectations.

• Cisco Systems (NASDAQ:CSCO) stock rose 0.92% amid reports that Amazon Web Sources is not actively building a commercial network switch, countering earlier rumors that AWS was going to begin producing the rival hardware.

• The Travelers Companies (NYSE:TRV) stock fell 2.78% as its second quarter core income fell to $1.81 per diluted share from $1.92 a year ago primarily due to an increase in catastrophe losses.

• American Express Company (NYSE:AXP) stock sank 2.38% as investors focused on a 7% rise in expenses in the second quarter due to higher rewards expenses and costs associated with marketing and business development. Revenue missed expectations although earnings per share beat by a penny.

• Philip Morris (NYSE:PM) stock slumped 4.38% has the firm cut its full-year forecast for diluted earnings per share to between $5.02 and $5.12 from the prior range of $5.25 to $5.40. Analysts surveyed by Thomson Reuters had estimated $5.15.

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