Stocks Making the Biggest Premarket Moves: Alphabet, Microsoft, Pacwest, Snap and More

Here are some key headlines on companies before the market opens:

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Alphabet:The parent company of Google saw a significant increase of over 6% in its stock value after surpassing Wall Street's second-quarter earnings expectations. The growth was primarily driven by strong performance in its cloud-computing segment. Additionally, Alphabet announced a leadership transition, with its Chief Financial Officer, Ruth Porat, assuming the role of President and Chief Investment Officer.

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Microsoft:The software giant experienced a 4% decline in its stock value as it reported slower revenue growth in its cloud business during the fiscal fourth quarter. Despite beating Wall Street's estimates, Microsoft provided lower-than-expected guidance. The company reported earnings of $2.69 per share on $56.19 billion in revenue, surpassing analysts' predictions.

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PacWest:Shares of the regional bank surged over 28% following the announcement of its acquisition by Banc of California. The merger will create a new entity called Pacific Western. Banc of California shares also saw an increase of about 6%.

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Snap:The parent company of Snapchat faced a significant drop of more than 18% after providing weak guidance for the current quarter. Although Snap exceeded second-quarter expectations with a narrower-than-expected loss of 2 cents per share on $1.07 billion in revenue, the underwhelming guidance affected investor sentiment.

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Coca-Cola:The beverage giant witnessed a rise of more than 2% in premarket trading after reporting quarterly earnings and revenue that exceeded estimates. The company's organic revenue saw an 11% increase during the quarter, primarily driven by higher prices. Coca-Cola also raised its full-year outlook following the strong performance.

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Boeing:The aircraft manufacturer's stock rose more than 3% after reporting a revenue beat for the second quarter. Boeing also performed better than expected in terms of losses per share. The company's positive results were driven by an increase in airplane deliveries.

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Wells Fargo:The bank's stock gained 2.5% after announcing a $30 million share buyback program late Tuesday. Additionally, Wells Fargo's board approved a previously announced dividend increase from 30 cents to 35 cents per share.

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Texas Instruments:Despite reporting results that surpassed Wall Street's expectations, the semiconductor company's stock fell by 4%. The weaker-than-anticipated guidance for the current period was attributed to sluggish demand.

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AT&T:Shares of AT&T rose 2% after the company released its latest quarterly results. While the company topped earnings estimates, it fell short on revenue expectations, reporting adjusted earnings per share of 63 cents on $29.92 billion in revenue. AT&T's strong free cash flows will be used to pay down debt.

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Teladoc Health:The telehealth company saw its shares surge by 6% after beating both top and bottom-line expectations in the most recent quarter. The company reported a narrower-than-expected loss of 40 cents per share, and its revenue exceeded the consensus estimate.

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Dish Network:Shares of the telecom company jumped more than 9% in premarket trading after it was reported that Dish would start selling its wireless service on Amazon this week.

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Thermo Fisher Scientific:The company's shares sank by 6.6% in the premarket after reporting earnings and revenue that fell short of expectations. Thermo Fisher Scientific cited a challenging macro environment as the reason for the underperformance.

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Union Pacific:Despite revenue falling short of expectations, the railroad operator's stock value surged more than 8%. The company also announced the appointment of a new CEO and changes to its board.

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