Investing.com - Stocks in focus in premarket trading on Friday:
• Microsoft (NASDAQ:MSFT) stock jumped 2.5% in premarket trade by 8:20 AM ET (12:20GMT) after its fiscal fourth-quarter revenue was higher than expected due to increased sales from its cloud business.
• Blackrock (NYSE:BLK) stock dipped 0.2% after reporting a 6.5% drop in second-quarter profit, as investors shifted assets to fixed-income funds with lower fees, and revenue from securities lending fell.
• Boeing (NYSE:BA) stock rose 2.8% after removing a key point of uncertainty over its financial outlook by saying it would take a $4.9 billion charge again earnings due to the grounding of its 737 MAX jet.
• Anheuser Busch Inbev (NYSE:BUD) stock gained 4.5% after it announced that it is selling its Australian unit to Japan’s Asahi Group for $11.3 billion, including debt. The deal helps it cut its debt pile by the same amount it was hoping to raise through an IPO of its Asian business, which was pulled last week.
• Barrick Gold (NYSE:GOLD)stock fell 0.4% after it increased its buyout offer for Acacia Mining, in a deal that would value Acacia at roughly $1.2 billion.
• Skechers USA (NYSE:SKX) stock surged 12.9% after the shoemaker’s second-quarter earnings beat expectations, as it experienced growth in nearly every region.
• Chewy (NYSE:CHWY) stock was up 1.9% after its losses for the quarter narrowed to $29.6 million from a loss of $59.8 million a year earlier, in its first financial report since its IPO.
• Chewy (NYSE:CHWY) stock was up 1.9% after its losses for the quarter narrowed to $29.6 million from a loss of $59.8 million a year earlier, in its first financial report since its IPO.