Alphabet Amd Reddit Snap First Solar Qorvo Microsoft And More Market Movers

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Alphabet, AMD, Reddit, Snap, First Solar, Qorvo, Microsoft, and More Market Movers
Alphabet, AMD, Reddit, Snap, First Solar, Qorvo, Microsoft, and More Market Movers from

Alphabet, AMD, Reddit, Snap, First Solar, Qorvo, Microsoft, and More Market Movers

Premarket

Futures pointed to a flat or slightly positive open for the major averages on Friday, as investors considered their next move following a wild week that saw stocks swing back and forth.

Alphabet (GOOGL) shares rose 1% in premarket trading after the company reported better-than-expected quarterly results. The tech giant said its revenue climbed 62% to $68 billion, while its earnings per share came in at $27.26, above the consensus estimate of $26.75.

AMD (AMD) shares jumped 3% after the chipmaker reported a strong quarter. The company said its revenue rose 93% to $4.8 billion, while its earnings per share more than doubled to $1.13, easily beating the consensus estimate of 98 cents.

Regular Market

In regular trading, Reddit (REDDIT) shares tumbled 17% after the social media company reported a wider-than-expected quarterly loss. The company said its revenue rose 59% to $252.7 million, but its loss per share came in at 35 cents, wider than the consensus estimate of 27 cents.

Snap (SNAP) shares plunged 25% after the social media company warned of a slowdown in advertising spending. The company said it expects its revenue growth to decelerate in the current quarter and that it will not meet its previous guidance for the full year.

First Solar (FSLR) shares rallied 10% after the solar energy company reported a strong quarter. The company said its revenue rose 67% to $1.3 billion, while its earnings per share rose 122% to $1.40, easily beating the consensus estimate of $1.11.

Qorvo (QRVO) shares jumped 5% after the chipmaker reported a better-than-expected quarter. The company said its revenue rose 17% to $1.3 billion, while its earnings per share rose 36% to $3.26, easily beating the consensus estimate of $3.01.

Microsoft (MSFT) shares edged up 1% after the software giant reported a strong quarter. The company said its revenue rose 18% to $51.9 billion, while its earnings per share rose 21% to $2.48, easily beating the consensus estimate of $2.32.