Let’s take a look at some of the biggest premarket movers:
Facebook (FB) — Facebook grew 1.9% in the premarket after reporting various results in the second quarter. Facebook exceeded its estimate by 3 cents per share, with quarterly earnings of $3.22 per share. However, revenue was lost as ad sales slowed due to new privacy restrictions from Apple (AAPL).
General Electric (GE) — GE exceeded its estimate of 14 cents per share and quarterly earnings were 57 cents per share. However, revenue fell short of analysts’ expectations. The company also reported higher-than-expected free cash flow. Its share in pre-market transactions grew by 1.4%.
Tesla (TSLA) – Tesla continues to be monitored after crossing $1 trillion in value during trading Monday. Shares rose in 10 out of 11 sessions, while Tesla’s share fell 0.4% in pre-market transactions.
Polaris (PII) — RV maker shares fell 5.9% in pre-market behavior after the company devalued its full-year outlook due to supply chain constraints. Polaris matched estimates with quarterly earnings of $1.98 per share. Revenue did not reach consensus.
United Parcel Service (UPS) – UPS grew 5% in pre-marketing with better than expected results. UPS reported quarterly earnings of $2.71 per share. That’s 16 cents higher than the estimate per share. Revenue also exceeded expectations of strong e-commerce demand.
CORNING (GLW) — The glass and specialty materials maker market front fell 3.4% after reporting a slowdown in the auto industry impacted quarterly results. Corning missed estimates by 2 cents per share, with quarterly earnings per share of 56 cents. Earnings also missed forecasts.
Eli Lilly (LLY) — Shares of the pharmaceutical company rose 1% in pre-marketing action, despite earnings per share of $1.94 and a four percent drop in quarterly earnings. Revenue was better than expected, but Lilly spent more on R&D during the quarter. The company also raised its full-year outlook.
3M (MMM) – 3M reported quarterly earnings of $2.45 per share, compared to a consensus estimate of $2.20 per share. The revenue exceeded road expectations. During the quarter 3M saw demand growth in both the consumer and industrial sectors.
Hasbro (HAS) — Hasbro exceeded its consensus forecast by 27 cents per share, with quarterly earnings of $1.96 per share. The toy maker’s earnings were in line with analysts’ expectations. Hasbro warned that holiday sales would be hit by supply chain disruptions.
RealReal (REAL) – Second-hand luxury online sellers saw a 4.8% increase in pre-market inventory after Raymond James upgraded their inventory from “market performance” to “outperform.” Raymond James cites short-term profitability and profitability growth prospects.
Coinbase (COIN) – Cryptocurrency exchange operators earned 2% in pre-market transactions after Citi began covering equities with a “buy/high risk” rating. Citi said the risk was due to exposure to the volatile crypto market, but added that the company would benefit from increased adoption.
Correction: This article has been updated to correct the number of sessions in which Tesla’s stock price has risen.
Polaris, UPS, Corning, Coinbase, etc.
Source Links Polaris, UPS, Corning, Coinbase, etc.
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