Stocks making the biggest moves in the premarket: Intel, Mattel, Gilead, Shake Shack & more

Stock Market

Take a look at some of the biggest movers in the premarket:

Intel (INTC) — The chipmaker reported third-quarter earnings of $1.11 per share, in line with estimates. Revenue was higher than expected at $18.33 billion, while analysts surveyed by Refinitiv expected $18.25 billion. The company’s Data Center Group, however, saw revenue decline by 7% and miss expectations. The shares were down 9.7% as of 8 a.m. ET.

Mattel (MAT) — The toymaker beat expectations on the top and bottom lines for the third quarter. Mattel reported profit of 95 cents a share and $1.63 billion in revenue. Analysts surveyed by Refinitiv expected 39 cents a share in earnings and $1.46 billion in revenue. The shares were up 8.4% as of 8 a.m. ET.

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Gilead Sciences (GILD) — The Food and Drug Administration approved Gilead’s antiviral drug remdesivir as a treatment for the coronavirus. The drug had previously been authorized for emergency use. The shares were up 4.1% as of 8 a.m. ET.

Seagate Technology (STX) — The data storage company reported weaker-than-expected revenue for its third quarter. Seagate posted earnings of 93 cents per share on $2.31 billion of revenue. Analysts surveyed by Refinitiv were looking for 88 cents per share and $2.34 billion of revenue. The company also raised its dividend and buyback program. Shares were down 3.5% as of 8 a.m. ET.

Capital One Financial (COF) — The financial firm beat revenue expectations for its third quarter. Capital One had $7.38 billion in revenue, while analysts surveyed by Refinitiv projected $6.68 billion. The company’s non-interest income rose nearly 50% year over year. The shares were up 4.2% as of 8 a.m. ET.

American Express (AXP) — The financial company reported smaller-than-expected earnings despite beating revenue projections. American Express earned $1.30 per share on $8.75 billion of revenue for the third quarter. Analysts surveyed by Refiniv expected $1.35 in earnings per share and $8.62 billion of revenue. The shares were down 3% as of 8 a.m. ET.

Bloomin’ Brands (BLMN) — The restaurant chain reported a smaller-than-expected loss for the third quarter and said that its takeout business remained strong even as inside dining reopened. The company reported a loss of 12 cents per share and $771.3 million of revenue. Analysts surveyed by Refinitiv expected a loss of 33 cents per share and $750.6 million of revenue.

Shake Shack (SHAK) — Research firm Oppenheimer initiated coverage of the restaurant chain at “outperform.” The firm said in a note that Shake Shack’s U.S. footprint could grow to three times its current size.

Fastly (FSLY) — Piper Sandler downgraded the stock to “underweight” from “neutral,” citing concern about slowing business from TikTok, which is one of Fastly’s biggest clients. The company’s shares were down 2.9% as of 8 a.m. ET.

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