Maplewood, Minnesota, 3M company global headquarters.
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Discover the latest buzzworthy companies in premarket trading.
General Motors — The shares of General Motors have risen more than 1% as the automaker upgraded its full-year guidance and reported increased second-quarter results compared to the previous year.
3M — The manufacturer has seen a 2% increase in shares during premarket trading after exceeding analysts’ revenue estimates of $7.87 billion by reporting $7.99 billion in revenue for the latest quarter. Furthermore, 3M has raised its full-year earnings guidance and upheld its revenue guidance.
Xerox — The workplace technology provider has experienced a 3.6% increase in stock value after surpassing earnings expectations for the second quarter. Xerox reported an earnings per share of 44 cents (excluding items) against the forecasted 32 cents by analysts. Additionally, revenue for the quarter met expectations at $1.75 billion. Xerox has also revised its full-year expectations for free cash flow and adjusted operating margin, predicting better results than previously anticipated.
General Electric — The industrial giant has seen a more than 4% increase in shares during premarket trading after reporting stronger-than-expected earnings for the second quarter. General Electric has also raised its full-year profit guidance due to robust demand in its aerospace sector and record orders in renewable energy.
Danaher — The conglomerate has experienced a 4.6% decrease in shares. Danaher has predicted a decline in non-GAAP core revenue for the current quarter compared to the same quarter last year, and a lower-than-expected increase for the full year. However, the company’s second-quarter report revealed earnings per share (excluding items) of $2.05 and revenue of $7.16 billion, surpassing analysts’ expectations of $2.01 per share and $7.12 billion in revenue.
Spotify — The music streaming platform has encountered a 6.1% decline after presenting a weak quarterly report and guidance. Spotify’s revenue of €3.18 billion falls short of Refinitiv’s forecast of €3.21 billion. Furthermore, the company’s full-year revenue guidance is worse than analysts’ expectations. These reports come after Spotify’s announcement of an upcoming increase in prices for premium subscription plans.
Lilium — The electric helicopter stock has increased by 5.6% following the release of a letter to shareholders from management. During the first half of 2023, Lilium’s adjusted cash spend fell within the budget, and the company successfully passed an audit by the European Union Aviation Safety Agency.
Alaska Air — Despite beating estimates in the second quarter on both revenue and earnings, the airline’s shares have fallen by over 4%. Alaska Air reported adjusted earnings per share of $3 on $2.84 billion in revenue, surpassing Refinitiv’s forecast of $2.70 earnings per share on $2.77 billion in revenue. The company’s full-year earnings guidance of $5.50 to $7.50 per share aligns with average analyst estimates of $6.65, according to FactSet.
RTX — Shares of the company formerly known as Raytheon have experienced a 3% decline despite a strong quarterly report. RTX reported earnings per share of $1.29 (excluding items) on $18.32 billion in revenue, surpassing Refinitiv’s forecast of $1.18 per share and $17.68 billion. The company also revised its full-year expectations for both earnings and revenue.
Verizon — The telecommunications giant has traded 2.6% higher after reaffirming its full-year guidance. Despite a mixed second quarter, with Verizon reporting earnings per share (excluding items) of $1.21 on $32.6 billion in revenue, the company’s performance meets analyst estimates. Analysts predicted earnings per share of $1.17 and revenue of $33.24 billion.
Walmart — Walmart has risen more than 1% after receiving an upgrade to overweight from neutral by Piper Sandler. Analyst Edward Yruma anticipates that Walmart will gain a larger market share in the grocery business as inflation eases.
— Contributions by CNBC’s Samantha Subin,
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Denial of responsibility! Vigour Times is an automatic aggregator of Global media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, and all materials to their authors. For any complaint, please reach us at – [email protected]. We will take necessary action within 24 hours.
