Stocks that made strong moves before the bell

Technology companies

Facebook stock declined in value to reach around $167 USD per share following some management changes as Chief Product Officer Chris Cox left his position. This change in leadership can signal a change in strategic direction.

Oracle stock made a strong move up reaching $52 in price after it reported upbeat earnings higher than expected. The company expected revenues to decline in this ongoing quarter of the year due to currency appreciation.

Adobe Systems also made a bullish move, and its price now is around $257 after it reported higher than expected earnings per share.

Netflix Inc stock went up to reach $360 in price. The stock is now a better option in the FAANG index than its rivals, as Netflix does not face the same regulatory risks.

Boardcom was affected by the decline in its China sales and reported revenues below expectations, although its earnings per share were higher than analysts had predicted. Its stock declined slightly.

Amazon.com tumbled after BMO capital changed its classification to “overweight”, which indicated that the stock may be overvalued.

Other industries

Newell Brands Inc NASDAQ: NWL

Newell Brands declined to around 15.40 per share. The CEO Michael Polk is due to retire by the second half of this year. Accusations of misconduct had been leveled to him earlier.

Volkswagen (VW)

Volkswagen’s share plummeted to around $16.75 per share after the scandal related to its CEO Martin Winterkorn broke out. The CEO is being charged of committing massive fraud in regards to VW’s diesel emissions.

AT&T Inc. NYSE: T

AT&T showed a positive move following its better than expected earnings per share.

Ulta Beauty Inc NASDAQ: ULTA

Ulta Beaurty also moved upwards after its release showed a better than expected earnings per share. The stock price is currently at $27.

Broadcom Inc NASDAQ: AVGO

Boardcom was affected by the decline in its China sales and reported revenues below expectations, although its earnings per share were higher than analysts had predicted. Its stock declined slightly.

Apple Inc. NASDAQ: AAPL

Apple responded to the complaint submitted by Spotify to the European Union authorities and made positive amends. Its stock value soared to $186.5 per share.

Rent a Car saw its stock decline after the court ruled that its decision to not enter a merger deal with private equity firm Vintage Capital in 2018 was a legal one. There remain issues to be resolved between the two companies such as the termination fee.

TSRadmin

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