Alphabet, Amazon Rise Premarket; Spotify Falls

Stocks in focus in premarket trade on Wednesday, February 3rd. Please refresh for updates.

Amazon (NASDAQ:AMZN) stock rose 2.5% after founder Jeff Bezos announced he was standing down as CEO. This has taken the gloss off more strong earnings which saw the e-commerce giant report its first $100 billion quarter.

Alphabet (NASDAQ:GOOGL) stock rose 7.7% after Google’s parent topped quarterly sales expectations for its important advertising and Cloud businesses, helped in part by the pandemic.

Chipotle (NYSE:CMG) stock fell 2.8% after the burrito chain missed estimates for quarterly profit, hurt by extra costs related to keeping its business running during the pandemic.

Amgen (NASDAQ:AMGN) stock fell 2.5% after the biotech company disappointed with its 2021 earnings guidance even after reporting better-than-expected quarterly profit.

Electronic Arts (NASDAQ:EA) stock fell 3.8% after the video gaming company missed profit forecasts for the current quarter (although it raised its annual sales outlook), as more people turn to videogames during lockdowns.

Spotify (NYSE:SPOT) stock fell 7% after the streaming giant offered a conservative outlook for the current year, saying the pandemic may have pulled forward signups. It reported 155 million paid subscribers for its premium service.

Sony (NYSE:SNE) ADR rose 6.9% after the Japanese conglomerate raised its full-year profit outlook by one-third, helped by pandemic-fuelled demand for games, movies and other content.

Biogen (NASDAQ:BIIB) stock fell 3.9% after the biotech company said its profit came in below expectations for the latest quarter as revenue declined as it spent more on research and development.

GlaxoSmithKline (NYSE:GSK) ADR fell 4.5% after the drugmaker forecast 2021 profit to fall by a mid- to high-single digit percentage. It added that its plan to split into two businesses was on track.

Kraft Heinz (NASDAQ:KHC) stock rose 0.3% after the Wall Street Journal reported that the food giant is in talks to sell its Planters snack business to Hormel Foods (NYSE:HRL), up 0.5%, for about $3 billion.

Match Group (NASDAQ:MTCH) stock fell 4.6% after the online dating company provided a disappointing revenue growth forecast for this year, reflecting the toll the pandemic is having on the dating scene.