2023-07-27 06:28:15 ET
Despite the Federal Reserve raising its policy rate to its highest level in 22 years, stock futures climbed in premarket trading on Thursday. Chair Jay Powell maintained his cautious tone in his news conference, but said that the Fed staff no longer f orecasts a U.S. recession .
The Dow Jones Industrial Average closed higher on Wednesday after recording its thirteenth consecutive day of gains, matching its longest winning streak since January 1987.
Here are some of Thursday's biggest stock gainers and losers in premarket trading:
Biggest stock gainers
- Meta Platforms ( NASDAQ: META ) is up 8% after posting better than expected Q2 results and strong operational metrics. In comparison to Google, whose ad revenue increased by only 3%, the company reported an ad revenue rise of 12%. The company expects Q3 total revenue to be in the range of $32 billion to $34.5 billion, above the consensus of $31.11 billion.
- The stock of Celestica ( NYSE: CLS ) increased by 27% after surpassing the consensus estimate in Q2. The company also increased its estimate for FY2023. As opposed to its prior expectation of at least $7.6 billion and consensus of $7.64 billion, it now anticipates sales of at least $7.85 billion. Non-IFRS adjusted EPS of $2.25 is also anticipated, in contrast to its previous outlook of between $2.00 and $2.05 and consensus of $2.03.
Biggest stock losers
For further details see:
Biggest stock movers today: Meta Platforms, Chipotle Mexican Grill and more