GE, General Motors, Verizon rise premarket; Goldman Sachs, Dow fall
Investing.com -- U.S. futures edged higher Tuesday, as investors digest a deluge of corporate earnings ahead of a key Federal Reserve meeting.
Here are some of the biggest premarket U.S. stock movers today:
General Motors (NYSE: GM) stock rose 2% after the auto giant lifted its full-year profit guidance, in large part because it plans to invest less in new products and cut operating costs by an additional $1 billion through the end of next year.
General Electric (NYSE: GE) stock rose 3.8% after the industrial conglomerate raised its full-year adjusted profit forecast, betting on steady demand for aircraft engine spare parts and services from airlines looking to cash in on surging air travel.
Verizon (NYSE: VZ) stock rose 3.1% after the telecoms giant posted a surprise rise in wireless subscriber additions as more users upgraded their mobile phones to access its 5G network.
Dow (NYSE: DOW) stock fell 0.7% after the chemicals company reported a lower-than-expected second-quarter profit, hurt by lower prices of its products and weak sales volumes.
Goldman Sachs (NYSE: GS) stock fell 0.4% after Citigroup downgraded the investment bank to ‘Neutral’ from ‘Buy,’ saying its targets will take time to be achieved.
Walmart (NYSE: WMT) stock rose 1.1% after Piper Sandler upgraded its stance on the retail giant to ‘Overweight’ from ‘Neutral’, saying it can rally more than 30% as it gains grocery market share.
3M (NYSE: MMM) stock rose 2.1% after the industrial conglomerate lifted its full-year EPS guidance even after reporting a quarterly loss as it took a hit from a $10.3 billion settlement related to water pollution claims.
Logitech (NASDAQ: LOGI) stock rose 7% after the maker of computer mice and keyboards raised its sales and profit outlook for the first half of the financial year 2024.
Biogen (NASDAQ: BIIB) stock rose 1.4% after the biotech said it expects to cut about 1,000 jobs, or about 11% of its workforce, to save costs as the company ramps up the launch of a new Alzheimer's disease drug.