Premarket Movers Friday – Snap, Mattel, Skechers, Intel
Equity futures edged higher on Friday after the S&P 500’s biggest drop in five weeks after a report said President Joe Biden would propose to raise taxes on high net worth investors.
Dow Futures Higher, Bitcoin Below $ 50,000 Due to Biden Tax Rise Issues
Here are some of the major players in pre-market Friday trading.
1. Snap SNAP | Up 5%
Snap Actions (BREAK) – Get the report rose after the social media company reached 280 million daily active users.
Snap reported revenue and user growth exceeding expectations, prompting several analysts to raise their one-year price targets.
2. Mattel MAT | Up 7.3%
Mattel actions (CARPET) – Get the report were higher after the toy maker raised its financial projections for the year, indicating strong sales trends, including its iconic Barbie doll.
3. Skechers SKX | Up 10%
Skechers actions (SKX) – Get the report Advanced. Morgan Stanley raised the stock from the overweight position from neutrality after the major sneaker first quarter earnings release.
Skechers’ profits doubled due to increased demand for its shoes from overseas.
4. Intel INTC | Down 2.2%
Intel actions (INTC) – Get the report fell early Friday after the semiconductor giant’s new chief executive, Pat Gelsinger, said a global chip shortage could extend for two years. The company posted weaker quarterly profits.
5. American Express AXP | Down 3.3%
American Express Stocks (AXP) – Get the report were down before going to market on Friday after the financial services giant posted lower than expected revenues amid slowing consumer credit spending.
6. Honeywell HON | Down 1.2%
Honeywell Actions (HON) – Get the report slipped in pre-market trading even after the tech company posted stronger than expected first quarter profits. Honeywell’s aerospace sales fell 22% to $ 2.63 billion. Demand for commercial aircraft remains lower as coronavirus-related travel restrictions continue.