Check out the companies making the biggest moves in pre-market trading: General Motors – The automaker saw its shares rise 4% after reporting $2.62 per share on revenue of $43.01 billion for the first quarter. Analysts expected $2.15 per share on revenue of $41.92 billion, per LSEG. GM also raised its auto adjusted free cash flow forecast to between $8.5 billion and $10.5 billion, from a previous forecast of between $8 billion and $10 billion. GE Aerospace – Shares rose more than 4% after the company reported earnings of 82 cents per share in the first quarter on revenue of $16.1 billion. The results were better than analysts' expectations of 65 cents per share on revenue of $15.14 billion, according to LSEG. United Parcel Service – The stock lost 0.8% as UPS's first-quarter earnings beat estimates but revenue fell short of expectations amid weak demand for small package deliveries. UPS reported adjusted earnings of $1.43 per share, while analysts estimated EPS of $1.29, according to LSEG. PepsiCo – Shares of the snack and beverage company fell despite a stronger-than-expected first quarter. Pepsico reported adjusted earnings of $1.61 per share on revenue of $18.52 billion. Analysts surveyed by LSEG were looking for $1.52 per share on $18.07 billion in revenue. The company maintained its full-year guidance for 2024. Novartis – US-listed shares rose 5% after the Swiss pharmaceutical company beat expectations for the first quarter and raised its full-year guidance. JetBlue Airways – The airline fell 10.5% after the company announced that revenue for the current quarter is expected to decline more than analysts expected. This comes after JetBlue saw sales of $2.21 billion in the first quarter, in line with LSEG.6 estimates. Elsewhere, JetBlue lost 43 cents a share in the first quarter, short of the 52 cents figure forecast by Wall Street CLEVELAND CLIFFS — The stock fell 2% a day after the steel producer's first-quarter results fell short of analysts' expectations. Cleveland-Cliffs reported adjusted earnings of 18 cents per share on revenue of $5.2 billion. Analysts surveyed by LSEG expected earnings of 22 cents per share and revenue of $5.35 billion. SAP – US-listed shares rose nearly 4% a day after the German enterprise software company reported first-quarter revenue that beat expectations. Adjusted earnings per share came in slightly below the consensus estimate. SAP also reiterated its full-year guidance. Nucor — Shares fell 7% a day after the steelmaker reported first-quarter earnings of $3.46 per share, below the consensus estimate of $3.67, according to FactSet. Revenues were also weaker than expected. Nucor also warned of lower second-quarter profits. Danaher – Shares of the life sciences company rose more than 8% after beating analysts' expectations for first-quarter results. Danaher reported adjusted earnings of $1.92 per share on revenue of $5.80 billion, beating the $1.72 per share on revenue of $5.62 billion that analysts had expected, according to FactSet. Lockheed Martin – The defense company's stock advanced 1.5% after posting wins on the top and bottom. Lockheed reported earnings of $6.39 per share on revenue of $17.2 billion. Analysts surveyed by LSEG estimated earnings of $5.83 per share on revenue of $16.02 billion. The company reported growth in every segment. Spotify – Shares rose 8.4% after the music streaming company's first-quarter revenue beat analysts' expectations. Spotify reported revenue of $3.64 billion, compared to consensus estimates of $3.61 billion, according to LSEG. Sherwin Williams – Stock fell 3.5% after first-quarter earnings results. Sherwin-Williams reported adjusted earnings per share of $2.17, beating the FactSet consensus estimate of $2.22. Revenues of $5.37 billion were also lower than the $5.50 billion expected by analysts. —Hakyung Kim, Tanaya Machel, Alex Haring, Jessie Pound and Lisa Hahn contributed reporting.
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