Today's Morning Movers and Top Ratings: MCD, F, ABBV, MORN and More
Morning Movers
Gapping up
$McDonald's(MCD.US$ reported stronger-than-expected results for the third quarter. Its shares rose 2.4% in the aftermath.
The company reported Q3 EPS of $3.17 on revenue of $6.69 billion, ahead of the consensus for earnings of $3.00 on revenue of $6.56B. Global comparable sales increased 8.8%, reflecting strong comparable sales across all segments, and ahead of the consensus of 7.8%.
$Ford Motor(F.US$ shares edged slightly higher in premarket U.S. trading on Monday, after the carmaking giant reached a tentative labor deal with the United Auto Workers union that would end long-standing strikes at some of the company's plants.
On Sunday, the UAW outlined the major parts of the 4-1/2-year agreement, which includes $8.1 billion in investments in factory renovations and pay raises of at least 30% for many workers during the life of the contract. At the top-end range, some permanent employees would see an additional $70,000 in wages, while salaries for the lowest-paid temporary workers would jump by 150%.
$Loews(L.US$ stock rose 0.3% after the corporation reported a profit in the third quarter compared to a loss a year earlier, boosted by higher investments and insurance unit CNA Financial's strong performance.
$L3Harris Technologies(LHX.US$ shares added 1.5% after an upgrade to outperform from market perform by Raymond James. The firm cited improving fundamentals and a mean reversion in the stock. The upgrade comes after L3Harris reported better-than-expected third-quarter earnings last week.
Gapping down
$Cisco(CSCO.US$ stock fell 0.4% after Raymond James downgraded the tech company to ‘market perform’ from ‘outperform’, expecting the company to experience a decline in campus sales, which are likely responsible for approximately one-third of the sales decline expected in 2024.
Source: CNBC; Investing.com
US Top Rating Updates on 10/30
Source: Dow Jones
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