Apple, Rivian, Toast Rise Premarket; Illumina, Olo Fall

By Peter Nurse

Investing.com -- Stocks in focus in premarket trade on Friday, August 12th. Please refresh for updates.

• Apple (NASDAQ:AAPL) stock rose 0.5% after Bloomberg News reported that the iPhone maker is still expected to make around the same number of its most important phone as last year, countering claims the economic slowdown would weigh heavily on demand.

• Rivian (NASDAQ:RIVN) stock rose 0.1% after the electric vehicle manufacturer reported better-than-expected second-quarter results, but also forecast deeper losses for the year as ongoing supply-chain issues continue to hold back production.

• Illumina (NASDAQ:ILMN) stock fell 15% after the gene-sequencing company swung to a loss in the second quarter, fell short of revenue expectations, and revised its full-year outlook downward.

• Toast (NYSE:TOST) stock rose 13% after the cloud-based restaurant management software company raised its full-year earnings outlook, even after reporting a quarterly loss.

• Olo (NYSE:OLO) stock slumped 33% after the restaurant software maker issued a weaker-than-expected current quarter and full-year revenue outlook, citing potential declines in off-premise dining.

• Poshmark (NASDAQ:POSH) stock fell 4.1% after the social commerce marketplace reported a wider-than-expected loss in its most recent quarter, and disappointed with its revenue outlook for the current quarter.

• Teladoc (NYSE:TDOC) stock rose 2.9% after DA Davidson initiated coverage of the virtual healthcare company with a ‘buy’ rating, saying the company now offers value after a near 90% slump.