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Alphabet, AMD and Capri Rise Premarket; PayPal, Starbucks Fall

Published 02/02/2022, 07:51 AM
Updated 02/02/2022, 07:52 AM

By Peter Nurse

Investing.com -- Stocks in focus in premarket trade on Wednesday, February 2nd. Please refresh for updates.

  • Alphabet (NASDAQ:GOOGL) stock rose 10% after the Google parent reported a 32% jump in its fourth-quarter revenue, profiting from sustained high demand for its search, Cloud and YouTube services. The company also announced plans for a 20-for-one stock split.

  • Advanced Micro Devices (NASDAQ:AMD) stock rose over 12% after the semiconductor maker gave a strong annual revenue forecast, built on high demand for its server chips.

  • Starbucks (NASDAQ:SBUX) stock fell 2.7% after increasing cost pressures led the coffee brewer to project a sharper decline in earnings this year.

  • PayPal (NASDAQ:PYPL) stock fell 17% after the online payments provider forecast first-quarter revenue and profit well below expectations, preparing to take a hit from eBay's (NASDAQ:EBAY) ongoing move to ditch its services.

  • New York Times (NYSE:NYT) stock rose 0.1% after the news provider beat fourth-quarter revenue estimates, benefiting from an influx of digital subscribers.

  • Emerson (NYSE:EMR) stock rose 0.7% after the company posted a rise in quarterly profit, helped by buoyant demand for its automation systems as well as its valves and instruments across sectors.

  • Capri (NYSE:CPRI) stock rose 13% after the fashion holding company, which counts Michael Kors, Versace and Jimmy Choo among its brands, raised its full-year revenue and profit forecasts, citing a boom in demand for luxury handbags and apparel in the United States and Europe.

  • DR Horton (NYSE:DHI) stock rose 3.2% after the homebuilder posted a strong rise in quarterly profit, benefiting from record-high property prices and lower interest rates on home loans.

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