Microsoft, Alphabet, Chipotle, Boeing and PayPal Rise Premarket

By Peter Nurse

Investing.com -- Stocks in focus in premarket trade on Wednesday, July 27th. Please refresh for updates.

• Microsoft (NASDAQ:MSFT) stock rose 3.3% after the software giant forecast revenue this fiscal year would grow by double digits, driven by demand for cloud computing services.

• Alphabet (NASDAQ:GOOGL) stock rose 3.6% after second-quarter sales from the company's biggest moneymaker - Google search - actually topped expectations, raising full-year hopes at the world's biggest seller of online advertising.

• Chipotle (NYSE:CMG) stock rose 8.2% after the burrito chain beat quarterly profit expectations, as multiple rounds of price hikes cushioned the blow from soaring costs.

• PayPal (NASDAQ:PYPL) stock rose 6.5% after Bloomberg reported activist investor Elliott Investment Management is building a stake in the fintech giant to push it to ramp up its cost-reduction efforts.

• Boeing (NYSE:BA) stock rose 2.2% after the aircraft manufacturer stuck to its forecast to return to positive free cash flow in 2022 despite supply chain and labor restraints.

• Enphase Energy (NASDAQ:ENPH) stock rose 9.6% after the solar giant reported a jump in its European revenue in the second quarter as the continent grapples with rising energy prices.

• Hilton Worldwide (NYSE:HLT) stock rose 6.8% after the hotel chain reported a rise in quarterly profit following a rebound in travel demand as more people took vacations.

• Spotify (NYSE:SPOT) stock rose 6.5% after the music streaming company beat second-quarter revenue expectations, helped by a 14% jump in paying subscribers.

• T-Mobile US (NASDAQ:TMUS) stock rose 2.3% after the wireless network operator raised its subscriber growth forecast for the second time this year as its relatively cheaper plans lured customers.

• Texas Instruments (NASDAQ:TXN) stock rose 2.5% after the semiconductor manufacturing company beat earnings expectations and provided a bullish outlook.