Before the bell rings, take a look at the businesses making news:
Spotify Technologies After Spotify Technology released second-quarter profits that above expectations, the stock of music streaming companies jumped 13%. Together with operating profits, the gross margin also exceeded projections.
Motors General Following General Motors’ easy beat of second-quarter projections, the car shares surged 4.6%. Additionally, GM announced that it is reorganising its faltering autonomous vehicle and China divisions.
Lockheed Martin: Following the company’s better-than-expected earnings and revenue, the defence stock increased by 0.5%. On $18.12 billion in revenue, the aerospace company reported second-quarter earnings of $6.85 per share. Projected $17.04 billion in revenue and $6.46 in earnings per share.
The Coca-Cola Company The beverage company’s stock increased 1.7% following an earnings report that exceeded expectations. On $12.36 billion in revenue, Coca-Cola reported adjusted earnings per share of 84 cents. $11.76 billion in sales and 81 cents per share were the expectations of analysts polled by LSEG. The business increased its organic revenue projections for the entire year.
Following the release of NXP Semiconductors’ second-quarter earnings results that fell short of expectations, the company’s shares plunged 7%. Lower than the LSEG consensus forecast of $3.21 profits per share, adjusted earnings came in at $3.20 per share. Expectations were met with the $3.13 billion in revenue.
United Parcel Service: Following disappointing results for the second quarter, the package transportation company saw an almost 9% decline in value. A $21.80 billion revenue increase translated into $1.79 earnings per share for UPS. $1.99 profits per share and $22.18 billion in revenue were projected by analysts surveyed by LSEG.
Danaher With Danaher reporting second-quarter earnings and revenue above estimates, the life sciences stock surged 6%. We were particularly pleased with the sustained positive momentum in our bioprocessing business.”
Crown Holdings Conforming to FactSet consensus forecasts, the packaging stock increased 6% following Crown Holdings’ second-quarter earnings report that exceeded analysts’ projections. More optimistic full-year earnings projection was also released by Crown.
Zions Bank Corp. — Zions Bancorp reported second-quarter earnings that beat estimates, which led to a 3% increase in share price. In contrast to the $1.10 earnings per share that LSEG’s poll of analysts predicted, the regional bank reported earnings of $1.28 per share.
GE Aerospace: Following the company’s second-quarter results announcement that above analyst expectations, the aerospace stock surged by 4%. On $9.09 billion in revenue, the company generated adjusted earnings per share of $1.20. In an LSEG survey, analysts projected $8.46 billion in revenue and 99 cents per share in earnings.
Comcast – After the company released its mixed results, shares dropped 2%. The company’s adjusted earnings for the most recent quarter were $1.21 per share, exceeding the $1.12 per share estimate. The LSEG prediction of $30.02 billion was exceeded by revenue of $29.69 billion.
Source (CNBC)
