Coca-Cola, General Motors, JetBlue and others
Check out the companies making headlines before the bell:
Coca-Cola (KO) – Coca-Cola shares rose 2.9% in the premarket after the beverage giant’ third-quarter earnings and sales beat Street forecasts. The company also raised its full-year outlook as demand remains steady even as it has raised prices to make up for higher expenses.
General Motors (GM) – GM shares rallied 4.4% in premarket trading after the automaker reported a better-than-expected third-quarter profit, helped by rebounding sales. GM also said supply chain constraints are easing, allowing it to increase inventories on dealer lots.
JetBlue (JBLU) – JetBlue reported a quarterly profit as elevated travel demand helped to make up for rising costs. But its bottom line results fell short of estimates and revenue merely matched consensus. JetBlue slipped 4.5% in premarket trading.
Xerox (XRX) – The office equipment maker’s stock tumbled 8.2% in premarket action after it reported an adjusted quarterly profit of 19 cents per share compared with a consensus estimate of 40 cents. Xerox was hit by surging costs and supply chain constraints.
3M (MMM) – 3M reported better-than-expected earnings for the third quarter, but the conglomerate’s revenue fell short of Street forecasts. It also cut its full-year outlook due to rising costs and the impact of the strong U.S. dollar.
General Electric (GE) – GE jumped 4.2% in premarket action even though its earnings fell short of forecasts. The company cut its full-year outlook as it works its way through supply chain issues and higher costs. GE’s revenue was stronger than expected, as was free cash flow.
UPS (UPS) – The delivery service’s shares rallied 4.4% in the premarket following a mixed quarterly report that saw earnings beat consensus and revenue fall short. UPS was helped by expanded profit margins as it raised prices.
UBS (UBS) – UBS jumped 5.1% in the premarket after the Swiss bank posted better-than-expected quarterly results, helped by a jump in customer cash inflows to its wealth management business.
SAP (SAP) – SAP rose 3% in premarket action after the German business software company reported upbeat quarterly results, helped by strong growth in its cloud business. SAP also confirmed its full-year outlook.
Logitech (LOGI) – Logitech jumped 7% in the premarket after the maker of computer peripherals maintained its current full-year guidance, which was reduced in July. Logitech has seen sales cool off following a long period of elevated demand spurred by the pandemic.
Qualtrics (XM) – Qualtrics surged 9.6% in the premarket after the maker of customer feedback software reported better-than-expected quarterly results and lifted its full-year forecast.