Stocks making biggest moves premarket: Alphabet, Microsoft and more

Microsoft’s shares climbed 4% after reporting strong fiscal third-quarter results, driven by its Azure business. Alphabet saw a surge of over 11% after posting first-quarter results that exceeded expectations and announcing its first-ever dividend and a $70 billion buyback. Snap’s stock rose 22% on better-than-expected first-quarter results, with revenue increasing by 21% due to improvements in its advertising platform. Meanwhile, Intel’s shares dropped more than 8% as the chipmaker fell short on sales in the first quarter, despite beating earnings estimates. Exxon Mobil and Chevron both saw slight dips in their shares after missing earnings estimates, while AutoNation, AbbVie, Colgate-Palmolive, Skechers, DexCom, and Charter Communications all saw positive movement in their stock prices after reporting strong quarterly results.

Multiple companies are making headlines before the bell with their first-quarter results. Microsoft saw shares gain 4% after reporting fiscal third-quarter results that exceeded expectations, driven by strong performance in its Azure business. Alphabet surged over 11% after posting first-quarter results that topped estimates and announcing a dividend and buyback. Snap’s stock rose 22% following better-than-expected first-quarter results, with revenue increasing by 21%. However, Intel’s shares dropped more than 8% as investors reacted to the chipmaker’s mixed financial results. Exxon Mobil and Chevron both saw their shares dip after reporting earnings that missed expectations. AutoNation, AbbVie, Colgate-Palmolive, Skechers, DexCom, and Charter Communications also reported first-quarter results, with mixed reactions from investors.

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