Here are some notable movements in pre-market trading: General Motors saw a significant increase of 10.5% after it revised its full-year outlook upwards and reported higher profits. Its adjusted earnings per share for the third quarter were $2.80, surpassing analyst expectations of $2.31. The company’s revenue reached $48.59 billion, beating the consensus estimate of $45.27 billion. GM now anticipates a full-year adjusted EPS of $9.75 to $10.50, a rise from the earlier forecast of $8.25 to $10.
Coca-Cola experienced a stock increase of about 3% after its third-quarter earnings and sales exceeded expectations. Adjusted earnings were 82 cents per share on revenue of $12.41 billion, while analysts had predicted earnings of 78 cents and revenue of $12.39 billion. 3M, known for its Post-it notes, climbed 2.6% after its quarterly results outperformed analyst forecasts, reporting earnings of $2.19 per share on sales of $6.32 billion, which beat expectations of $2.08 per share and $6.25 billion in revenue.
Crown Holdings’ shares rose by 8% after posting stronger-than-expected third-quarter earnings, reporting $3.2 billion in revenue and adjusted earnings per share of $2.24, exceeding the anticipated earnings of $1.99 and revenue of $3.14 billion. Zions Bancorp’s stock increased by more than 1%, following a third-quarter report that alleviated some concerns regarding its loan risks. Despite earnings of $1.48 per share not meeting LSEG’s estimate of $1.41, net interest income for the period stood at $672 million.
Elevance Health’s shares jumped 2.5% after delivering better-than-expected third-quarter results, with sales of $50.09 billion and earnings of $6.03 per share, both surpassing analyst predictions. Solar stocks also saw a rise after Citi upgraded their ratings; Sunrun surged 8%, while Nextracker gained nearly 4%. EPAM Systems increased 3.3% announcing a stock buyback of up to $1 billion.
Fluor’s stock surged 5% following a report that activist investor Starboard Value acquired a nearly 5% stake in the company. This move might include selling Fluor’s stake in NuScale Power, which saw its stock price drop nearly 5%. Mining stocks generally faced declines as gold and silver prices fell; companies like Kool Mining, Hecla Mining, and First Majestic Silver saw about 8% decreases, while Pan American fell about 7% and Eldorado Gold and Newmont both decreased by around 5%.
RTX shares rose 4.8% after the aerospace and defense firm reported third-quarter earnings of $1.70 per adjusted share on revenue of $22.48 billion, surpassing expectations of $1.41 and $21.31 billion, respectively. Philip Morris International also recorded gains, rising nearly 2% as it reported adjusted earnings of $2.24 per share and sales of $10.85 billion, both exceeding analyst forecasts.
GE Aerospace’s stock increased by over 2% after it reported strong third-quarter earnings and sales, posting adjusted earnings of $1.66 per share on revenue of $11.31 billion, beating expected figures of $1.45 and $10.41 billion. On the other hand, Northrop Grumman’s shares fell 1.3% following mixed third-quarter results, reporting earnings of $7.67 per share on $10.42 billion in sales, below the expected earnings of $6.46 per share and revenue of $10.71 billion.
