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Stocks - Facebook, 3M Rise Premarket; Southwest, Tesla Fall

Published 25/07/2019, 10:16 pm
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Investing.com - Stocks in focus in premarket trading on Thursday:

• Facebook (NASDAQ:FB) stock rose 1.7% in premarket trade by 8:15 AM ET (12:15 GMT) after it posted a profit in the second quarter, even as it was fined $5 billion by the Federal Trade Commission. Executives warned revenue growth could slow in the coming quarters, also revealing that the FTC and Department of Justice had opened up antitrust investigations into the social media giant.

• Southwest Airlines (NYSE:LUV) stock declined 4.6% after it said its results were pressured by the continued grounding of Boeing’s 737 Max jet. The airline said it is discontinuing operations at New Jersey’s Newark Liberty Airport as a result.

• Tesla (NASDAQ:TSLA) stock slumped 11.4% after it pushed back its timeline for reaching profitability, while reporting a bigger-than-expected net loss in the quarter.

• Comcast (NASDAQ:CMCSA) stock inched down 0.3% after its earnings per share of $0.78 was above estimates, but its revenue fell short of forecasts. The company added more internet customers in the second-quarter, but revenue was offset by a decline in video and phone customers.

• 3M (NYSE:MMM) stock jumped 5.4% after its earnings beat estimates, as sales in its health care business jumped 5.8% from a year earlier.

• Bristol-Myers Squibb (NYSE:BMY) stock fell 1.4% after lowering its full-year earnings per share forecast to between $3.73 and $3.83 from between $3.84 and $3.94. The company’s second-quarter results came in better than expected, helped by strong sales of its Eliquis blood thinner and Orencia rheumatoid arthritis treatment.

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