GE, General Motors, Verizon rise premarket; Goldman Sachs, Dow fall

  • Stock Market News
GE, General Motors, Verizon rise premarket; Goldman Sachs, Dow fall
Credit: © Reuters. -- U.S. futures edged higher Tuesday, as investors digest a deluge of corporate earnings ahead of a key Federal Reserve meeting.

Here are some of the biggest premarket U.S. stock movers today:

  • General Motors (NYSE: GM ) stock rose 2% after the auto giant lifted its full-year profit guidance, in large part because it plans to invest less in new products and cut operating costs by an additional $1 billion through the end of next year.

  • General Electric (NYSE: GE ) stock rose 3.8% after the industrial conglomerate raised its full-year adjusted profit forecast, betting on steady demand for aircraft engine spare parts and services from airlines looking to cash in on surging air travel.

  • Verizon (NYSE: VZ ) stock rose 3.1% after the telecoms giant posted a surprise rise in wireless subscriber additions as more users upgraded their mobile phones to access its 5G network.

  • Dow (NYSE: DOW ) stock fell 0.7% after the chemicals company reported a lower-than-expected second-quarter profit, hurt by lower prices of its products and weak sales volumes.

  • Goldman Sachs (NYSE: GS ) stock fell 0.4% after Citigroup downgraded the investment bank to ‘Neutral’ from ‘Buy,’ saying its targets will take time to be achieved.

  • Walmart (NYSE: WMT ) stock rose 1.1% after Piper Sandler upgraded its stance on the retail giant to ‘Overweight’ from ‘Neutral’, saying it can rally more than 30% as it gains grocery market share.

  • 3M (NYSE: MMM ) stock rose 2.1% after the industrial conglomerate lifted its full-year EPS guidance even after reporting a quarterly loss as it took a hit from a $10.3 billion settlement related to water pollution claims.

  • Logitech (SIX: LOGN ) (NASDAQ: LOGI ) stock rose 7% after the maker of computer mice and keyboards raised its sales and profit outlook for the first half of the financial year 2024.

  • Biogen (NASDAQ: BIIB ) stock rose 1.4% after the biotech said it expects to cut about 1,000 jobs, or about 11% of its workforce, to save costs as the company ramps up the launch of a new Alzheimer's disease drug.

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