Welcome to the Extreme Investor Network, where we provide you with the latest updates on companies making headlines in the finance world. Today, we will discuss some key highlights from various companies before the bell rang.
Exxon Mobil started the day with a stronger-than-expected profit for the second quarter, thanks to record production in Guyana and the Permian Basin. With earnings per share surpassing forecasts, the energy giant’s shares were slightly up in premarket trading.
On the other hand, Intel saw its shares plunge 20% after reporting weaker-than-expected earnings and revenue for the second quarter. The company also announced layoffs of over 15% of employees as part of a cost-cutting push.
Snap, Cloudflare, DoorDash, Amazon, Block, Clorox, Apple, Twilio, Coinbase, Booking Holdings, GoDaddy, Coterra Energy, Roku, Atlassian, and Microchip Technology all experienced fluctuations in their stock prices based on their quarterly results and guidance for the future.
For example, Cloudflare saw a 7% jump after raising its full-year outlook, while Amazon fell over 8% due to weaker-than-expected revenue. Meanwhile, Block advanced more than 3% after beating earnings estimates.
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