Snap, Twitter, Verizon Fall Premarket; CSX, Schlumberger Rise

  • Stock Market News
Snap, Twitter, Verizon Fall Premarket; CSX, Schlumberger Rise
Credit: © Reuters.

By Peter Nurse -- Stocks in focus in premarket trade on Friday, October 21st. Please refresh for updates.

  • Snap (NYSE: SNAP ) stock slumped 28% after the owner of photo messaging app Snapchat forecast zero revenue growth for the current quarter, facing strong competition for advertising spending.

  • Twitter (NYSE: TWTR ) stock fell 4.7% after Bloomberg reported that the Biden administration is considering subjecting Elon Musk's takeover bid to a national security review, potentially scuppering the deal.

  • Verizon (NYSE: VZ ) stock fell 3.7% after the telecoms giant posted a 23% slide in third-quarter profit and missed market estimates for wireless subscriber additions, as several customers opted for cheaper plans from rivals.
  • Pinterest (NYSE: PINS ) stock fell 8.5%, Meta Platforms (NASDAQ: META ) stock fell 4.9%, and Alphabet (NASDAQ: GOOGL ) stock fell 2% after Snap’s results triggered a slide in other social media stocks dependent on advertising revenue.

  • American Express (NYSE: AXP ) stock fell 4.7% after the credit card company built provisions to $778 million in the reported quarter to prepare for potential defaults, even as it said its third-quarter profit had modestly improved.

  • CSX (NASDAQ: CSX ) stock rose 3.6% after the railroad operator reported strong quarterly results , beating expectations on both the top and bottom lines.

  • Whirlpool (NYSE: WHR ) stock fell 4.8% after the household appliances manufacturer company reported weak third-quarter net sales, while its bottom line was hurt by short-term headwinds.

  • Robert Half (NYSE: RHI ) stock dropped 12.3% after the employment agency reported disappointing quarterly earnings , as the previous high demand for temporary and part-time staffing slowed.

  • Schlumberger (NYSE: SLB ) stock rose 1.3% after the oil services provider reported a 65% jump in third-quarter profit as a surge in oil prices encouraged drilling activity.

  • Juniper Networks (NYSE: JNPR ) stock rose 2.7% after Raymond James upgraded its stance on the networking products provider to ‘strong buy’ from ‘outperform’, saying it can rally 30%.

  • SVB Financial (NASDAQ: SIVB ) stock slumped 18% after the commercial bank lowered its 2022 outlook for deposits, net interest income, and net income margin, citing a “challenging environment.”

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