Verizon, 3M, General Electric, Coca-Cola rise premarket; Spotify, Barclays fall
Investing.com -- U.S. futures rose Tuesday, helped by falling bond yields ahead of quarterly earnings from some tech giants later in the session.
Here are some of the biggest premarket U.S. stock movers today:
General Electric (NYSE: GE) stock rose 5.1% after the conglomerate raised its full-year profit forecast on robust demand for jet engine spare parts and services and improved performance in its renewable business.
3M Company (NYSE: MMM) stock rose 4% after the conglomerate raised its full-year adjusted profit forecast as it looks to benefit from cost-cutting measures and price hikes.
Verizon (NYSE: VZ) stock rose 3.7% after the telecoms giant raised its annual free cash flow forecast as promotions and its high-speed 5G network helped it attract more subscribers than expected in the third quarter.
Spotify (NYSE: SPOT) stock fell 2.6% even after the streaming giant reported quarterly monthly active users and subscribers ahead of expectations as it grew in all regions, as well as a quarterly profit. The stock is up over 95% year-to-date.
General Motors (NYSE: GM) stock rose 1.6% after the auto giant reported a rise in third-quarter revenues of 5.4% to $44.1 billion. However, it withdrew its previous guidance for 2023 profits and near-term electric vehicle production as costs related to the United Auto Workers strikes jumped to $200 million a week during October.
Coca-Cola (NYSE: KO) stock rose 2.3% after the soft drinks giant raised its annual sales and profit forecasts, benefiting from consumers snapping up its products at higher prices.
Coinbase (NASDAQ: COIN) stock rose 8.2%, with the cryptocurrency exchange benefiting from the speculation that a Bitcoin ETF is shortly to be authorized by the U.S. SEC.
Dow (NYSE: DOW) stock rose 2.5% after the chemicals company beat expectations for third-quarter profit, benefiting from higher prices for its products used in making goods ranging from plastics and paints to building materials.
Nvidia (NASDAQ: NVDA) stock rose 1.8% after Reuters reported that the chipmaker has begun designing central processing units that would run Microsoft (NASDAQ: MSFT)'s Windows operating system, using technology from Arm Holdings (NASDAQ: ARM), up 2.4%.
RTX stock rose 8.1% after the aerospace supplier approved a $10 billion share repurchase program, even as it reported a near billion dollar quarterly loss due to a major quality crisis at its subsidiary Pratt and Whitney.
Barclays (NYSE: BCS) ADRs fell 5.6% after the U.K.-based bank signaled another restructuring round in the coming months to mitigate the effects of margin pressure from competition in the savings market and another lackluster performance from its investment bank.