Investing.com – Stocks in focus in premarket trade Wednesday:
o Apple (NASDAQ:AAPL) stock jumped 4.62% by 8:13 AM ET (13:13 GMT) as an increase in services revenue outweighed a mixed earnings report for its fiscal first quarter. Additionally, Chief Executive Tim Cook revealed that the company plans to cut some iPhone prices in foreign countries to counteract the strong dollar artificially inflating prices outside the U.S.
o AT&T (NYSE:T) stock sank 2.64% on disappointing subscriber numbers in the company’s quarterly report, and comments by CEO Randall Stephenson that the company would focus on cutting debt this year rather than growing the business.
o Intel (NASDAQ:INTC) stock dipped 0.24% as Israeli media reported that the company had bid up to $6 billion to acquire Mellanox. Separately, the Israeli Economy Ministry said Intel had committed to buy around $4 billion of the country’s products and services in the next 6 years as part of plans to expand locally.
o Ford (NYSE:F) stock lost 0.80% as sales at its joint venture in China tumbled more than 50%, according to the Financial Times.
o Align Technology (NASDAQ:ALGN) stock tumbled 6.66% as its profit forecast for 2019 missed analysts’ estimates.
Stocks – Apple, AMD, Boeing Surge in Premarket, AT&T, Amgen Drop
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