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EARLY MOVERS: Qualcomm shares lag in pre-market as Apple battle weighs; Roku Inc plunges despite latest earnings

Also in play before the New York bell are Wynn Resorts, the hotel and casino group and Square Inc
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Qualcomm is embroiled in a legal battle with Apple

US stocks are poised to head lower at the bell and as for corporate news trending in pre-market, there are plenty of stories around, including from chipmaker Qualcomm Inc (NASDAQ:QCOM).

Shares in the firm are off 5.24% before the bell amid the emergence of a report, which claims behemoth Apple (NASDAQ:AAPL) is preparing for a trial.

The pair have been in an ongoing legal fight over patent royalties.

Qualcomm has also warned that revenues for the holiday quarter could fall by as much as 25% as it faces slower demand from China, among other factors.

The group is, however, forecasting higher-than-expected earnings-per-share (EPS), that’s only due to a one-time tax benefit.

Qualcomm forecasts for 1Q, revenue between $4.5 billion and $5.3 billion and adjusted earnings between $1.05 and $1.15 per share. Analysts were expecting revenue of $5.57 billion and EPS of $0.95.

Elsewhere, mobile payment group Square Inc (NYSE:SQ) shed 5.31% before the bell to $78.30 as it gave an earnings forecast for the  fourth quarter, which was lower than analysts had expected, as it posted third quarter results.

Adjusted earnings will be between $0.12 and $0.13 per share, it reckons, with adjusted revenue of $446 million to $451 million. Analysts projected $0.15 a share on sales of $440.6 million.

Elsewhere, Wynn Resorts (NASDAQ:WYNN) shares lost around 14% to $98 before the bell after the firm missed estimates in its latest quarterly earnings.

The casino group reported earnings of $1.68 a share, while analysts had expected $1.69 a share.  But it did beat on revenue,  which came in at $1.71 billion against an estimate of $1.66 billion.

Roku Inc (NASDAQ:ROKU) shares shed over 12% to  $51.60 in pre-market trade, despite the firm posting quarterly earnings, which topped expectations.
Roku reported a loss of $9.5 million, or $0.09 per share, on sales of $173.4 million, up from a loss of $8.79 a share a year ago on sales of $124.8 million.


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