Premarket Market Movers: Intel and Reddit Tumble While Rivian, Chevron, and Exxon Mobil Gain
Pre-market trading shows significant volatility across several sectors. Semiconductor giant Intel saw shares plunge 23% following weak fourth-quarter guidance that fell short of analyst estimates for both earnings per share and revenue. Similarly, Reddit's stock dropped 21% after the company announced new account requirements and issued disappointing revenue projections. In contrast, Rivian Automotive rose over 8% due to a third-quarter beat on both top and bottom lines, alongside improved delivery guidance. The energy sector also saw gains, with Chevron reporting a nearly 200% surge in net income and Exxon Mobil doubling its profits year-over-year. Meanwhile, crypto-related stocks like Coinbase and Robinhood faced downward pressure following a massive $6.3 billion hack reported by Binance.
Tickers: $AMZN $COIN $CVX $HOOD $INTC $RDDT $RIVN $XOM
Topics: crypto hack earnings beat earnings miss guidance premarket movers
Part of the story After-Hours Market Update: Amazon, Intel, and Reddit Face Significant Declines Following Earnings Reports (5 articles)