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Stock Market

Stocks - Facebook, GE, UPS Surge in Premarket, Tesla, Microsoft, Visa Slide

Investing.com - Stocks in focus in premarket trade Thursday: • Facebook (NASDAQ:FB) stock surged 11.51% by 8:12 AM ET (13:12 GMT)

Investing.com - Stocks in focus in premarket trade Thursday:

• Facebook (NASDAQ:FB) stock surged 11.51% by 8:12 AM ET (13:12 GMT) after the company reported better-than-expected earnings, beating on both the top and bottom lines.

• Tesla (NASDAQ:TSLA) stock slumped 3.78% after the company posted mixed earnings and announced the departure of its chief financial officer.

• Microsoft (NASDAQ:MSFT) lost 2.33% after the company issued mixed quarterly results and said cloud computing sales grew more slowly than a year earlier.

General Electric (NYSE:GE) stock soared 7.14% as the company reported mixed fourth-quarter results, but managed a sharp rebound in adjusted free cash flows at its industrial units after three straight quarters of declines. GE also announced that it had settled the Department of Justice investigation into its accounting practices for a fine of $1.5 billion.

• Visa (NYSE:V)stock fell 2.10% despite better-than-expected quarterly results as management warned that that another government shutdown, the U.S.-China trade war and Brexit could hurt consumer spending and noted “particularly soft” spending outside the U.S.

• PayPal (NASDAQ:PYPL) stock sank 4.30% as its outlook for current-quarter revenue fell short of analysts’ estimates.

• Mastercard (NYSE:MA) stock rose 4.43% as the company reported quarterly profit and revenue that beat consensus.

United Parcel Service (NYSE:UPS) stock jumped 4.85% after the company lifted its 2019 earnings outlook.

• ConocoPhillips (NYSE:COP) stock gained 1.99% after the company’s fiscal first-quarter results beat consensus on the top and bottom lines.

• Blackstone (NYSE:BX) stock declined 0.72% as the company announced that it would pay 43.3 billion to take a controlling interest in Tallgrass Energy.

• Raytheon (NYSE:RTN) stock fell 3.65% after the company gave weak profit guidance for 2019.

• Discovery Communications (NASDAQ:DISCA) stock soared 6.58% on rumors that CBS had an interest in acquiring the company, according to sources cited by CNBC.