Hot Stocks: AAPL and XOM gain on earnings, while PG slides and INTC plunges more than 10%
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Tech and energy leaders Apple Inc. (NASDAQ:AAPL) and Exxon Mobil Corporation (NYSE:XOM) both tracked higher into the green on Friday morning as the two multinational businesses both provided the investment community with strong quarterly earnings.
Intel Corporation (NASDAQ:INTC) on the other hand has crashed by more than 10% after the tech firm provided a weaker earnings and guidance outlook. Also, in the red are share of Procter & Gamble (NYSE:PG) as they to provided market participants with a softer earnings report.
Gainers
Shares of Apple Inc. (AAPL) are up 2.5% early on after the tech firm delivered investors with a strong earnings report. The organization reported Q3 GAAP EPS of $1.20, which topped estimates by $0.05. Moreover, Appleâs Chief Financial Officer Luca Maestri said revenue is expected to "accelerate" on a year-over-year basis.
Exxon Mobil Corporation (XOM) moved higher by 2.6% early on as the oil and gas giant surpassed Q2 Non-GAAP EPS and revenue expectations. XOM provided the Street with Q2 Non-GAAP EPS of $4.14, outdoing the expectations by $0.25. Additionally, the company beat on revenue by $4.01B, as it reported $115.68B.
Decliners
Intel Corporation (INTC) plunged double digits as the company trades lower by 11.5%. INTCâs decline comes as the stock provided Wall Street with a weaker than anticipated earnings report and it also lowered its full-year outlook, citing a weak economy and execution problems. Intel Corporation outlined that it had earned an adjusted $0.29 per share on $15.3B in revenue, down 17% year-over-year.
Procter & Gamble (PG) slid 3.4% in premarket trading as the consumer staple stock disappointed investors on its latest earnings report card. For its fiscal fourth quarter, PG declared non-GAAP EPS of $1.21 which missed estimates by two cents. However, $19.52B in revenue rose above expectations by $110M. 
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