Why Alphabet Shares Are Trading Higher By 12%; Here Are 20 Stocks Moving Premarket
Portfolio Pulse from Avi Kapoor
Alphabet Inc. reported first-quarter revenue of $80.539 billion, a 15% increase year-over-year, surpassing estimates. Earnings were $1.89 per share, beating forecasts. Alphabet announced a $70 billion share repurchase program and its first-ever quarterly dividend, causing shares to rise 11.9% in pre-market trading. Other stocks also moved significantly in pre-market trading, with notable gainers including Tevogen Bio Holdings, Pineapple Energy, and Freight Technologies, and losers such as Aclarion, Vincerx Pharma, and SCWorx Corp.
April 26, 2024 | 12:18 pm
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POSITIVE IMPACT
Alphabet Inc. reported a 15% increase in Q1 revenue to $80.539 billion, beating estimates, with earnings of $1.89 per share. Announced a $70 billion share repurchase and first-ever dividend, leading to a 11.9% rise in pre-market trading.
The positive earnings report and the announcement of a significant share repurchase program and a dividend are likely to boost investor confidence and demand for Alphabet shares, leading to a potential short-term price increase.
CONFIDENCE 95
IMPORTANCE 100
RELEVANCE 100
POSITIVE IMPACT
Snap Inc. reported better-than-expected first-quarter financial results and issued second-quarter revenue guidance above estimates, leading to a 24.2% increase in pre-market trading.
Snap's positive earnings report and optimistic revenue guidance for the next quarter are likely to attract investor interest, potentially driving up the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 90
NEGATIVE IMPACT
Intel Corporation reported worse-than-expected first-quarter sales results and issued EPS guidance below estimates, leading to a 7.2% decrease in pre-market trading.
Intel's disappointing sales results and pessimistic EPS guidance could lead to decreased investor confidence and a short-term decline in stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 90