IBM, Intel, Seagate, Schlumberger - Friday's Premarket Movers

Stocks moving in premarket trading Friday include IBM, Intel, Schlumberger and Seagate.
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Stock futures dropped Friday as investors considered that getting back to business as usual might take longer than they'd hoped as coronavirus-infection numbers spike.

Here are some of the top movers during premarket trading on Friday.

1. IBM IBM | Down 8.4%

Shares of IBM  (IBM) - Get Report fell after the tech giant posted fourth-quarter revenue that did not exceed Wall Street expectations and fell 6% to $20.4 billion. The numbers marred an otherwise solid first year for the cloud-focused computer group under new Chief Executive Arvind Krishna.

2. Intel INTC | Down 4.7%

Shares of Intel  (INTC) - Get Report dropped even after the chipmaker topped fourth-quarter-earnings forecasts but provided few details on its manufacturing strategy under new Chief Executive Pat Gelsinger. 

The company said it would outsource more chip production. That's a shift from Intel’s traditional reliance on its own factories to make its most-advanced chips.

3. Ford F | Down 0.5%

Shares of Ford  (F) - Get Report fell Friday after the automaker said it would spend an estimated $610 million to recall 3 million older vehicles due to potentially dangerous airbags.

4. Seagate Technology STX | Down 4.3%

Shares of Seagate  (STX) - Get Report traded lower Friday even after the disk-drive maker reported fiscal-second-quarter profit and sales ahead of analysts' expectations and provided third-quarter guidance in line with Wall Street estimates.

5. Intuitive Surgical ISRG | Down 1.9%

Intuitive Surgical  (ISRG) - Get Report stock slumped lower despite an increase in profit and sales reported for the fourth quarter. Procedure volume rose 6% for its da Vinci robotic surgical systems, offset by fewer system placements as patients put off elective surgeries due to the pandemic.

6. Schlumberger SLB | Down 1.8%

Shares of Schlumberger  (SLB) - Get Report fell even after the oil-services company topped profit forecasts, and beat revenue expectations for the first time in four quarters. Net income rose to $374 million, or 27 cents a share, from $333 million, or 24 cents a share, in the year-ago period.

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