Traders work on the floor of the New York Stock Exchange.
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Check out the companies making headlines at the premarket Friday:
American Express — American Express posted better-than-expected outcomes for the last quarter, driven by higher card member spending, and raising loans and fees. The company also reaffirmed its 2019 outlook.
Microsoft — Microsoft stocks climbed 3% following the technology giant posted quarterly amounts that topped analysts’ expectations. The company reported earnings per share of $1. 37 on revenue of $33. 72 billion. Wall Street analysts expected a gain of $1. 21 per share on sales of $32. 77 billion. CFO Amy Hood stated Microsoft’s commercial cloud earnings surged 39percent in the quarter.
Chewy — The online pet food retailer increased more than 2% after reporting its quarterly earnings surged 45percent on a case-by-case foundation .
BlackRock — The largest asset manager in the world posted second-quarter results that missed analysts’ expectations. BlackRock posted earnings per share of $6. 41 on revenue of $3. 524 billion. Analysts polled by Refinitiv anticipated a gain of $6. 50 per share on sales of $3. 566 billion. The business’s misses were driven by higher prices and lower earnings from investment advisory and securities lending.
Boeing — The aerospace giant said it takes a $4.9 billion charged in the second quarter, citing international groundings of its 737 Max planes. The fee comes out to $8. 74 per share and wipes out a Refinitiv earnings estimate of $1. 80 per share.
Occidental Petroleum — A regulatory filing revealed activist Carl Icahn has launched a proxy battle against Occidental to win four seats on the provider’s board. Icahn blasted the company for not giving shareholders a say in its proposed deal to obtain Anadarko Petroleum for $38 billion.
Amazon — President Donald Trump said Thursday the government would look closely at Amazon’s contract with the Pentagon. “We’re getting tremendous complaints from other companies,” Trump said.
General Motors — GM introduced the 2020 Corvette Stingray, a car that generates almost 500 horsepower and contains its own engine mounted in the center of the vehicle, like Ferrari and other supercar manufacturers.
CrowdStrike — Shares of the cybersecurity company jumped more than 18% after it posted better-than-expected earnings since going public last month. CrowdStrike reported earnings of $96.1 million, topping a Refinitiv quote of $95.6 million. CEO George Kurtz said the provider’s earnings grew by 103percent on a year-over-year basis.
Zillow — An analyst at KeyBanc initiated Zillow having an “overweight” rating and a price target of $66 per share, indicating a 37% upside down from Thursday’s close. “Zillow’s traffic should allow it to remain the leading marketplace for connecting home buyers/sellers with agents,” the analyst said in a note.
AMC Entertainment — Credit Suisse initiated coverage of the movie theater chain with an “outperform” rating, noting that the inventory’s 21.7percent sell-off this season is “overdone.” It included that “our bottom-up film forecast suggests industry box office growth for the next three quarters, which we believe should bolster investor sentiment.”
AB Inbev — The world’s largest beer manufacturer agreed to sell its Australian operations to Japan-based Asahi for over $11 billion in business value. AB Inbev stated it would use the majority the proceeds to repay debt.
–Reuters contributed to this report.