2023-04-25 09:56:38
(Discounted with futures)
PARIS, April 25 (Archyde.com) – Main stocks to watch on Tuesday on Wall Street where index futures give an opening down 0.3% to 0.5%:
* GENERAL MOTORS GM.N gained more than 3% in premarket trading as the automaker raised its full-year profit and cash flow forecast citing stronger-than-expected demand and higher prices.
* 3M MMM.N will cut regarding 6,000 jobs worldwide to reduce costs, announced the American conglomerate, which posted earnings per share down in the first quarter but above expectations.
* MCDONALD’S MCD.N announced like-for-like sales up 12.6% in the first quarter, doing better than the consensus.
* PEPSICO PEP.O raised its full-year sales and profit forecast following beating market expectations on its first-quarter revenue on buoyant demand despite price hikes. The group took more than 1% ahead of the stock market.
* GENERAL ELECTRIC GE.N raised the lower end of its full-year profit forecast, on strong demand for aero-engine parts and services.
* VERIZON VZ.N – The U.S. telecom operator reported lower-than-expected mobile phone revenue and subscriber numbers as the pandemic-related surge in demand waned.
* UNITED PARCEL SERVICE UPS.N said it expects annual revenue to be lower than its forecast due to a slowing economy. The global parcel delivery giant was down 5% on the stock market.
* BIOGEN BIIB.O posted better-than-expected quarterly profit on sales of Spinraza, a spinal muscular atrophy drug, but said it would pause or stop some studies to cut costs.
* CENTENE CNC.N gained 2% in pre-market following raising its profit target for 2023.
* HALLIBURTON HAL.N – The oil group announced a quarterly profit higher than the estimates, the tension on the market of the services and the equipment having supported the request and thus the prices.
* FIRST REPUBLIC BANK FRC.N fell 21% in out-of-hours trading following the regional bank announced a 40.8% plunge in customer deposits in the first quarter to $104.5 billion from in the previous quarter. Its competitors HUNTINGTON BANCSHARES HBAN.O, TRUIST FINANCIAL TFC.N, PACWEST BANCORP PACW.O and WESTERN ALLIANCE BANCORP WAL.N lost 2.4% to 2.8%.
* DOW DOW.N The chemicals giant reported quarterly profit and revenue above expectations, driven by lower natural gas prices.
* RAYTHEON TECHNOLOGIES RTX.N – The defense group reported a 4% rise in adjusted quarterly profit thanks to demand.
* SPOTIFY SPOT.N crossed the 500 million monthly active users mark for the first time, thanks to its expansion into new markets.
* NETFLIX NFLX.O announced on Tuesday that it plans to spend $2.5 billion over the next few years to produce movies, TV series and reality TV programs in South Korea, doubling the amount invested by the streaming platform in this market since 2016.
* WHIRLPOOL WHR.N gained 3.2% in out-of-hours trading following posting first-quarter revenue above expectations and confirmation of full-year results.
* ALPHABET GOOGL.O and MICROSOFT MSFT.O among others will publish their quarterly results following the close.
(Written by Claude Chendjou and Laetitia Volga, edited by Blandine Hénault and Kate Entringer)
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