Stocks

Today’s Stocks to Watch: PayPal, Ford, and Pfizer

October 29, 2024 OnEquity

Key points:

  • PayPal and Ford see significant stock declines.
  • Pfizer and HSBC rise on strong results and stock buybacks.
  • Major companies will report earnings after the market closes.

PayPal (PYPL) Drops After Disappointing Results

PayPal’s quarterly revenue slightly missed expectations, with lower-than-anticipated forecasts weighing on the stock. Shares were down more than 5% in premarket trading.

Pfizer (PFE) Rises on Strong Earnings

Pfizer shares rose 2% premarket after quarterly earnings and sales beat estimates. The company also raised its annual forecast, which bolstered investor confidence.

Ford (F) Falls on Cautious Outlook

Ford shares fell 6% before the market opened as the automaker forecasted annual profits at the lower end of its guidance range.

Boeing (BA) Seeks Funds

Boeing priced a new offering of 112.5 million shares at $143 each, aiming to raise approximately $21 billion to strengthen its balance sheet.

Trump Media & Technology Group (DJT) Soars in After-Hours Trading

Shares of Truth Social’s parent company, Trump Media & Technology, surged 10% in after-hours trading after a rally on Monday.

HSBC (HSBA, HSBC) Announces Stock Buyback

HSBC reported quarterly net profit growth and launched a new stock buyback of up to $3 billion. Shares rose 4% in London following the announcement.

McDonald’s (MCD) Declines Despite U.S. Gains

McDonald’s reported progress in its U.S. market last quarter; however, global comparable store sales fell short of expectations, leading to a premarket dip in its stock.

Earnings Reports After Market Close

Advanced Micro Devices (AMD), Alphabet (GOOGL), Chipotle Mexican Grill (CMG), and Visa (V) are among the companies set to report earnings after the close of the U.S. trading session.

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