Today's Pre-Market Stock Movers: MMM, FRC, MCD, UPS and More

Movers and Shakers wrote a column · Apr 25, 2023 08:09

Gapping up

$3M(MMM.US)$ +1.3% (3M reported $1.97 in earnings per share, higher than analysts expectations of $1.58 from FactSet. The Minnesota-based company announced it would cut about 6,000 positions globally in efforts to focus on high-growth markets such as automotive electrification and home improvement, while prioritizing emerging growth areas such as climate technology and semiconductors.)

$McDonald's(MCD.US)$ +1.13% (The company beat Wall Street expectations for the first quarter. The company reported $2.63 in adjusted earnings per share on $5.9 billion in revenue. Analysts polled by Refinitiv expected $2.33 in per-share earnings and $5.59 billion in revenue. The stock was recently up 9.8%.

$General Motors(GM.US)$ +2.1% (General Motors raised its key guidance for 2023 and reported first-quarter earnings that beat Wall Street's top- and bottom-line forecasts. The company reported $39.99 billion in revenue, higher than $38.96 billion according to Refinitiv data. Adjusted earnings came in at $2.21 per share, above the consensus estimate of $1.73. General Motors and Samsung SDI are also expected to announce as early as Tuesday that they plan to build a joint battery manufacturing plant in the U.S.

$JetBlue Airways(JBLU.US)$ +2.3% (The airline forecasted a “solidly profitable” second quarter due to strong travel demand. For the first quarter, JetBlue posted a 34 cents loss, less than the 39 cents expected, per Refinitiv.)

$Novartis AG(NVS.US)$ +3% (It raised its full-year earnings outlook, saying it expects sales to grow by mid-single digits. Novartis reported earnings per share of $1.71 on $12.95 billion in revenue, topping analysts’ expectations of $1.54 per share on $12.52 billion in revenue.)

$PepsiCo(PEP.US)$ +1.6% (It posted earnings and revenue that topped Wall Street's expectations. PepsiCo also raised its outlook on the full year. The company said first-quarter revenue totaled $17.85 billion, surpassing the $17.22 billion consensus estimate of analysts polled by Refinitiv. PepsiCo reported earnings per share of $1.50, topping analysts' expectations of $1.39.)

Gapping down

$First Republic Bank(FRC.US)$ -21.87% (The San Francisco-based regional bank said Monday that deposits fell by 40% to $104.5 billion during the first quarter, which came out worse than Wall Street’s expectations. First Republic said that its deposit flows have since stabilized. The stock was down nearly 22% in early morning trading and has declined by 86.6% so far this year. On Tuesday, Janney downgraded First Republic to sell from neutral and lowered its price target on the stock to $8 from $10, implying a 50% downside from Monday's closing price.)

$United Parcel Service(UPS.US)$ -1.6% (The shipping giant reported quarterly results that missed analyst expectations. The company earned an adjusted $2.20 per share on revenue of $22.93 billion. Analysts expected earnings of $2.21 per share on revenue of $23.01 billion, according to Refinitiv.)

$Packaging Corp of America(PKG.US)$ -6.8% (The company reported an adjusted profit per share of $2.20, which came in below a StreetAccount forecast of $2.27 per share. The company's second-quarter guidance also missed expectations.)

Source: Dow Jones, CNBC

Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only. Read more

Translate

Report

57K Views

Comment

Movers and Shakers

Moomoo Official Account

Chasing hot stocks

41KFollowers

15Following

34KVisitors