PepsiCo, General Electric, UPS and others
These are the headline-grabbing companies in premarket trading.
PepsiCo – Shares of the food and beverage giant dipped in the premarket although the company reported a beat on the top and bottom lines in the recent quarterAs consumers were willing to pay more for key brand names of the company,
General Electric – General Electric’s stock fell 3.5% despite topping estimates in its quarterly report. It reiterated its full-year profit guidance range, and acknowledged that inflation and supply chains issues are a challenge.
United Parcel Services — Shares of the shipping and logistics giant gained 1.7% after beating analyst estimates on the top and bottom lines. UPS reported adjusted earnings per shareAnalysts expected to earn $2.88 per share on revenue of $24.38billion, while they were expecting $3.05 at revenues of $24.38billion.
3M – 3M shares were flat premarket after reporting quarterly earnings that topped estimates. Analysts expected the company to earn $8.74 billion, but revenues were $8.83 Billion.
D.R. Horton — The homebuilder stock rose 2.8% during premarket trading after beating analyst estimates in the previous quarter. D.R. Horton reported adjusted earnings at $4.03 per share on $8 billion in revenues. On $7.62billion in revenue analysts anticipated that Horton would report adjusted earnings of $3.37 per share.
SeaWorld — The theme park and entertainment company’s stock surged 4.6% after Rosenblatt Securities initiated coverage with a buy and said despite pandemic headwinds the company has faired well under the vision of big investor Scott Ross.