This morning, the stock market spotlight turned to several major companies making waves with their latest financial developments. Meta Platforms, the parent company of Facebook and Instagram, experienced a nearly 3% boost in pre-market trading following news of a strategic decision to lay off workers within its Reality Labs division, as reported by CNBC. This move reflects Meta’s ongoing efforts to restructure its operations amidst the evolving tech landscape.
Alphabet, the corporate giant that owns Google and YouTube, enjoyed a substantial rise of over 4% after delivering first-quarter results that significantly surpassed Wall Street expectations. The company reported earnings of $2.81 per share on revenue of $90.23 billion, outperforming analyst predictions of $2.01 per share on $89.12 billion in revenue, provided by LSEG.
Conversely, T-Mobile saw its shares slump by 5.5%. The telecommunications giant reported fewer first-quarter wireless phone subscribers than anticipated, with 495,000 postpaid phone additions, falling short of StreetAccount’s expectation of 504,000. Despite this shortfall, T-Mobile’s earnings and revenue still managed to exceed analyst forecasts.
Intel faced a challenging day as well, with shares plummeting 7.2% as its guidance for the upcoming quarter left investors disappointed. Intel projected its June quarter revenue at $11.8 billion, below the consensus estimates of $12.82 billion from LSEG. The chipmaker plans to break even in earnings and announced intentions to cut both operational and capital expenses.
Gilead Sciences also encountered a drop, with its shares declining by 3.9% after the biopharmaceutical company reported first-quarter revenue of $6.67 billion, missing the $6.81 billion consensus estimate. While Gilead’s earnings per share came in at $1.81, surpassing the Wall Street expectation of $1.79, the revenue miss overshadowed the earnings beat.
Footwear maker Skechers experienced a 6% dip in share price after reporting disappointing first-quarter revenue. Additionally, Skechers withdrew its 2025 financial outlook, citing “macroeconomic uncertainty stemming from global trade policies” as a challenge. Despite the revenue shortfall, the company’s bottom-line results were better than expected.
Meanwhile, Charles Schwab garnered positive attention, advancing 1.4% after an upgrade from Goldman Sachs, which raised its rating from neutral to buy. Analysts noted Charles Schwab as a “resilient growth stock” in the face of uncertain market conditions.
Toy manufacturer Hasbro also saw its stock rise by about 1%, continuing its prior day’s momentum, where it surged 15%. Citigroup upgraded Hasbro’s investment grade from neutral to buy, praising the strength of its Wizards of the Coast business despite uncertainties around tariff policies. Analyst James Hardiman commented positively on the company’s business prospects.
Finally, Boston Beer’s shares almost jumped 3% after its first-quarter results surpassed expectations. The brewer, noted for its Samuel Adams brand, posted earnings of $2.16 per share on $453.9 million in revenue, outperforming FactSet analysts’ forecasts of 56 cents per share on $435.6 million in revenue. However, the company cautioned that tariffs could pose a risk to its full-year earnings.
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Original Source: https://www.cnbc.com/2025/04/25/stocks-making-the-biggest-moves-premarket-meta-intc-googl-and-more.html
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Publish Date: 2025-04-25 17:37:00
