On August 12, 7 Companies on focus in pre-market trading

On Friday, August 12, these stocks in pre-market trading were in everyone's focus.

APPLE

Apple (NASDAQ:AAPL) shares rose 0.5% after Bloomberg News reported that the iPhone maker is expected to produce the same number of its flagship handset as last year, countering claims that the economic slowdown will weigh heavily on demand.

RIVIAN

Rivian (NASDAQ:RIVN) shares rose 0.1% after the electric vehicle maker reported better-than-expected second-quarter results, but forecast deeper losses for the year as ongoing supply chain issues continue to hamper production.

ILLUMINA

Illumina (NASDAQ:ILMN) shares fell 15% after the gene sequencing company posted a second-quarter loss, fell short of revenue expectations and revised its full-year outlook downward.

TOAST

Toast (NYSE:TOST) shares rose 13% after the cloud-based restaurant management software company raised its full-year earnings outlook despite posting a quarterly loss.

OLO

Olo (NYSE:OLO) shares fell 33% after the restaurant software maker announced a weaker-than-expected current quarter and full-year revenue outlook, citing potential declines in off-site catering.

POSHMARK

Poshmark (NASDAQ:POSH) shares fell 4.1% after the social commerce marketplace reported a larger-than-expected loss in its most recent quarter and disappointed in its revenue outlook for the current quarter.

TELADOC

Teladoc (NYSE:TDOC) stock rose 2.9% after DA Davidson initiated coverage of the virtual healthcare company with a 'buy' rating, saying the company now offers value after a nearly 90% decline.