By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Friday, October 21st. Please refresh for updates.
Snap (NYSE:SNAP) stock slumped 28% after the owner of photo messaging app Snapchat forecast zero revenue growth for the current quarter, facing strong competition for advertising spending.
Twitter (NYSE:TWTR) stock fell 4.7% after Bloomberg reported that the Biden administration is considering subjecting Elon Musk's takeover bid to a national security review, potentially scuppering the deal.
Pinterest (NYSE:PINS) stock fell 8.5%, Meta Platforms (NASDAQ:META) stock fell 4.9%, and Alphabet (NASDAQ:GOOGL) stock fell 2% after Snap’s results triggered a slide in other social media stocks dependent on advertising revenue.
American Express (NYSE:AXP) stock fell 4.7% after the credit card company built provisions to $778 million in the reported quarter to prepare for potential defaults, even as it said its third-quarter profit had modestly improved.
CSX (NASDAQ:CSX) stock rose 3.6% after the railroad operator reported strong quarterly results, beating expectations on both the top and bottom lines.
Whirlpool (NYSE:WHR) stock fell 4.8% after the household appliances manufacturer company reported weak third-quarter net sales, while its bottom line was hurt by short-term headwinds.
Robert Half (NYSE:RHI) stock dropped 12.3% after the employment agency reported disappointing quarterly earnings, as the previous high demand for temporary and part-time staffing slowed.
Schlumberger (NYSE:SLB) stock rose 1.3% after the oil services provider reported a 65% jump in third-quarter profit as a surge in oil prices encouraged drilling activity.
Juniper Networks (NYSE:JNPR) stock rose 2.7% after Raymond James upgraded its stance on the networking products provider to ‘strong buy’ from ‘outperform’, saying it can rally 30%.
Begin trading today! Create an account by completing our form
At One Financial Markets we are committed to safeguarding your privacy.
Please see our Privacy Policy for details about what information is collected from you and why it is collected. We do not sell your information or use it other than as described in the Policy.
Please note that it is in our legitimate business interest to send you certain marketing emails from time to time. However, if you would prefer not to receive these you can opt-out by ticking the box below.
Alternatively, you can use the unsubscribe link at the bottom of the Demo account confirmation email or any subsequent emails we send.
By completing the form and downloading the platform you agree with the use of your personal information as detailed in the Policy.