Snap, EA tumble in premarket; Meta, T

By Geoffrey Smith 

-- Stocks in focus in premarket trading on 10 yuan micro futures regular platform appWednesday, 1st February. Please refresh for updates. 

• Snap(NYSE:) stock fell 13.1% after the Snapchat owner said it expects revenue to fall in the current quarter, its first ever decline, due to a weak environment for advertising. The company’s warning also dragged Pinterest(NYSE:) stock down 1.3% and Meta Platforms (NASDAQ:) stock down 1.4%. The owner of Facebook (NASDAQ:) and Instagram reports its own earnings after the close on Wednesday.
• T-Mobile US(NASDAQ:) stock fell 1.7% after the cellular carrier reported a in the fourth quarter, despite another chunky rise in postpaid phone subscribers. The figures reflect intensifying competition as consumers’ disposable income takes a hit from high inflation.
• Advanced Micro Devices(NASDAQ:) stock rose 2.7% after the chipmaker said it expects revenue from its PC chips division to bottom out in the current quarter as post-pandemic destocking runs its course. It said first-quarter group revenue will fall by some 5% from the fourth quarter of 2022 and held off giving guidance for the full year.
• Intel(NASDAQ:) stock rose 0.6% after reports that the group is slashing base salaries across its workforce to restore profitability.
• Mondelez(NASDAQ:) stock rose 1.2% after the snack maker beat expectations for both and profit in the fourth quarter. It warned, though, that the current quarter is set to be harder – especially in Europe, where it has raised its prices sharply after a year of strong input price inflation.
• Electronic Arts(NASDAQ:) stock fell 9.1% after the video game giant slashed its full-year forecasts, blaming a weak macro environment. EA now sees adjusted earnings per share between $1.20-$1.40 in the current quarter and only $6.0 for the full year.
• Match Group(NASDAQ:) stock fell 7.8% after the owner of the dating site Tinder said revenue and both fell in the fourth quarter. 

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