By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Thursday, July 30th. Please refresh for updates.
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Qualcomm (NASDAQ:QCOM) stock soared over 11% after the company reported better than expected fiscal third-quarter earnings and announced a long-term patent agreement with Huawei, as well as a $1.8 settlement over past licensing fee claims.
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PayPal (NASDAQ:PYPL)stock rose 2.9% after the Covid-19 pandemic prompted a surge in digital payments on its platform in the second quarter.
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ConocoPhillips (NYSE:COP) stock fell 3.3% after the oil and gas producer reported a wider-than-expected loss in the second quarter, hit by the sharp drop in the price of oil and the coronavirus-inspired travel lockdowns.
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Qorvo (NASDAQ:QRVO) stock climbed 4.5% after the semiconductor company managed to grow revenues, helped by 5G spending, when consensus expected a decline.
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Procter & Gamble (NYSE:PG) stock rose 1.4% after the company reported strong fourth quarterly revenue growth as consumers sought out cleaning products in the wake of the coronavirus. It also promised some $15 billion in shareholder returns over the next 12 months.
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Johnson & Johnson (NYSE:JNJ) stock rose 1.9% after the company’s Covid-19 vaccine candidate showed positive results in a study involving non-human primates.
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United Parcel Service (NYSE:UPS) stock rose 11% after the delivery giant reported strong second-quarter revenue numbers, helped by a surge in residential demand and health care shipments.
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AstraZeneca ADR (NYSE:AZN) rose 2.2% after the U.K.-based pharmaceuticals giant reported that second-quarter net profit surged, as it managed to avoid the sales declines suffered by other big pharma companies in the second quarter due to hospital disruptions.
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Anheuser Busch Inbev (BR:ABI) ADR (NYSE:BUD) rose 4.1% after beer sales ticked higher in the quarter as bars reopened and drinkers returned.
- Kraft Heinz (NASDAQ:KHC) stock rose 1.4% after the food giant reported strong sales growth in the second quarter, but took a $3 billion charge to write down the value of several businesses.
- Mastercard (NYSE:MA) stock rose 1.4% after its second-quarter earnings beat expectations, outperforming its main rival Visa (NYSE:V). That said, quarterly profit still fell 30% as fewer people used its cards during the pandemic.
- Comcast (NASDAQ:CMCSA) stock rose 2.3% after reporting strong second-quarter earnings, helped by its new Peacock streaming service receiving 10 million sign-ups since launching in April .
- Yum! Brands (NYSE:YUM) stock fell 1.9% after the company said global same-store sales fell 15% in the fiscal second quarter with the pandemic closing most of its dining areas.
- Northrop Grumman (NYSE:NOC) stock rose 0.8% after the aerospace and defense technology company lifted its full-year guidance, helped by strong space systems sales.
- Kellogg (NYSE:K) stock climbed 4% after lifting its full-year guidance, buoyed by strong demand for its breakfast products with consumers forced to stay at home during the pandemic.
- Intercontinental Exchange (NYSE:ICE) stock rose 0.2% despite reporting a rise in second-quarter profit and an increased dividend, helped by by a jump in equities and options volumes.