Stock Price Movement of Amazon, Verisign, and more Companies
Amazon – Share Prices Slumped by 14%
The share prices of Amazon have experienced a 14% slump in premarket trading. Amazon experienced the dip after sharing its earnings for the first quarter, revealing they were weaker than the estimations made by the analysts.
Amazon revealed that it had made an investment in Rivian, which is an electric vehicle maker. Amazon had reportedly invested in Rivian and ended up facing a loss on it. The executives at Amazon revealed they incurred $7.6 billion worth of loss from their investment in Rivian.
Verisign – Shares Dipped by 14.2%
The share prices of Verisign ended up experiencing a 14.2% dip in the premarket trading. Verisign experienced the dip after sharing its earnings for the recent quarter. It reported that its earnings were less than the expectations set by the analysts.
The executives reported that the analysts had predicted it would generate earnings worth $1.50 per share. The actual earnings Verisign generated in the respective quarter of 2022 were $1.43 per share.
After sharing the earnings results, Verisign had its stock status downgraded by the analysts at Baird.
Honeywell – Shares Surged by 1.8%
The share prices of Honeywell experienced a 1.8% elevation in the premarket trading. The aerospace products company experienced the surge having shared promising results of its earnings in the first quarter of 2022. The company confirmed it successfully exceeded the earnings expectations that were set by the analysts at Refinitiv.
The officials revealed that in Q1 of 2022, it generated revenue worth $8.38 billion, and the earnings it generated were $1.91 per share. However, the analysts had predicted that Honeywell may achieve a revenue worth $8.29 billion and the earnings it would generate earnings worth $1.86 per share.
Mohawk Industries – Shares Soared by 7.8%
The share prices of Mohawk Industries have experienced a 7.8% surge in premarket trading. The executives at Mohawk Industries recently released the earnings figures for the recently closed quarter. In the report, they revealed having generated higher than expected earnings.
Mohawk Industries’ executives revealed that for the respective quarter, they generated revenue worth $3.02 billion. The revenue that the analysts had predicted for the particular quarter for Mohawk Industries was worth $2.85 billion.
AbbVie – Shares Dipped by 6%
AbbVie has recorded a 6% drop in its share prices in the premarket trading. The reason for the drop was the full-year guidance its executives publicly released while sharing the earnings for the first quarter of 2022.
According to information, the executives at AbbVie lowered the guidance for the rest of the year, which resulted in a downtrend.
For the first-quarter earnings report, AbbVie revealed they generated revenue worth $13.54, versus the revenue estimation of $13.66 billion. However, the earnings they generated for the respective quarter were $3.16 per share versus the $3.14 per share estimations set by the analysts.