By Geoffrey Smith
Investing.com -- Stocks in focus in premarket trade on Friday, 31st January. Please refresh for updates.
9:10 AM ET: Navistar (NYSE:NAV) stock rose 54% after Volkswagen's truck unit Traton (DE:8TRA) offered to buy the company for $2.9 billion
9:00 AM ET: Amgen (NASDAQ:AMGN) stock fell 2.7% after the company issued disappointing guidance for 2020. The biotech expects EPS of $14.85-$15.60, well below consensus forecasts of $15.98, due to growing pressure on margins from biosimilars.
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- 8:40 AM ET: Amazon.com (NASDAQ:AMZN) stock rose 11.6% after its fourth-quarter profit raced past expectations, thanks to heavy investment in one-day shipping earlier in 2019, and to a rising contribution from its advertising business.
The surge takes Amazon's market capitalization over $1 trillion for the first time - the fourth U.S. company to do so after Apple (NASDAQ:AAPL), Alphabet (NASDAQ:GOOGL) and Microsoft (NASDAQ:MSFT).
- Exxon Mobil (NYSE:XOM) stock fell 1.5% after the oil and gas major reported a 5.2% drop in fourth-quarter profit, citing weaker margins in its refining and chemical businesses.
- IBM (NYSE:IBM) stock rose 6.x% after the company said late on Thursday that long-standing CEO Ginni Rometty will stand down. Rometty has overseen a long streak of falling revenue caused by the need to revamp IBM’s business model. That run was broken only in the last quarter.