Premarket trading moves higher in Microsoft, lower in Meta after earnings
Stocks move on earnings as Microsoft jumps and Meta sinks in premarket trade See the biggest gainers and losers driving Thursday's market action
Several major U.S. stocks moved sharply in premarket trading on Thursday after companies reported quarterly earnings and updated guidance.
Microsoft rose 9% after revenue came in above estimates and Azure growth beat expectations, while Meta fell nearly 9% after missing earnings estimates and issuing a weakerthanexpected thirdquarter revenue outlook.
Other notable movers included Teladoc, Norwegian Cruise Line, Starbucks, Chipotle, Fortinet, Lam Research, Qualcomm, and MarketAxess. The article also noted gains for Bristol Myers Squibb and Baxter, while Carvana, Cigna, AnheuserBusch InBev, Altria, and Sirius XM declined after their latest results or guidance updates.