See which businesses are making news before the bell.
GM — In the premarket, General Motors shares increased by more than 1% as the carmaker reported third-quarter earnings and revenue that exceeded analyst estimates. The United Auto Workers union strikes have increased costs, therefore GM did withdraw its full-year outlook.
Coca-Cola – On adjusted third-quarter revenue of $11.91 billion, Coca-Cola reported earnings per share of 74 cents. A profit of 69 cents per share on revenue of $11.44 billion was what analysts surveyed by LSEG were anticipating. As volume increases despite higher prices, the company recently raised its outlook. Over 2.3% of the shares were up.
Even though Spotify’s third-quarter earnings beat forecasts, shares of the company fell 2.5% in early morning trading. The streaming behemoth said it anticipates total monthly active users to surpass 600 million in the fourth quarter, and revenue came in at what was anticipated. The stock’s decline was “surprising,” according to Bank of America.
General Electric – After the company’s third quarter earnings and revenue beat Wall Street projections, shares increased 5.4% in early morning trading. On account of a rise in demand for its aerospace division, the company also raised its full-year forecast.
Shares of DraftKings increased 3.5% after MoffettNathanson boosted its price target and upgraded the stock to buy from neutral, pointing out that expenses are better than anticipated and revenue is still outpacing expectations.
3M – The stock increased by over 4% as a result of 3M raising its earnings projection following a stronger-than-anticipated quarter marked by solid margins and cash flow. The business boosted its full-year adjusted earnings and reported success with its efforts to cut costs and restructure.
Source (CNBC)
