Apple, Visa Rise Premarket; Robinhood, Caterpillar and Chevron Fall

  • Stock Market News
Apple, Visa Rise Premarket; Robinhood, Caterpillar and Chevron Fall
Credit: © Reuters.

By Peter Nurse -- Stocks in focus in premarket trade on Friday, January 28th. Please refresh for updates.

  • Apple (NASDAQ: AAPL ) stock rose 2.2% after the iPhone maker posted record quarterly revenue, defying global supply shortages. Revenues climbed 11% year-on-year to almost $124 billion in the fourth quarter as sales of most of its devices soared. Revenue from services, seen as the key to its future growth, jumped 24% to top $19 billion.

  • Robinhood (NASDAQ: HOOD ) stock fell over 13% after the trading app reported a larger than expected loss in the fourth quarter, disappointing revenue guidance for the first quarter of this year as well as a drop in monthly active users.

  • Visa (NYSE: V ) stock rose 3.7% after the credit card company beat quarterly profit estimates as more international travel and e-commerce drove an increase in spending volumes.

  • Western Digital (NASDAQ: WDC ) stock fell over 10% after the maker of hard drives and storage systems provided a current quarter outlook that fell short of expectations despite healthy fourth quarter numbers.

  • Chevron (NYSE: CVX ) stock fell 4.5%, pulling back from Thursday’s all-time high, after the oil giant missed fourth-quarter profit expectations despite sharply higher oil and gas prices.

  • Caterpillar (NYSE: CAT ) stock fell 1.5% after increased costs weighed on the industrial giant’s profit margins, even as the company announced strong sales.

  • Tesla (NASDAQ: TSLA ) stock fell 1.6%, continuing to fall after Thursday’s sharp selloff after the electric car manufacturer again postponed the launch of new models, due to the difficulty of sourcing components.

  • VF Corp (NYSE: VFC ) stock fell 4.8% after the apparel retailer cut its full-year revenue forecast, hit by delivery delays and worker shortages at its Vietnam factories due to the pandemic.


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