Today's Pre-Market Stock Movers: GM, F, UPS, PFE and More
Gapping up
$General Motors (GM.US)$ +5% (GM beat estimates on the top and bottom lines for its fourth quarter, even as its profit margin narrowed. The company reported an adjusted $2.12 per share on $43.11 billion in revenue. Analysts surveyed by Refinitiv were looking for $1.69 in earnings per share on $40.65 billion in revenue. GM said it expected earnings to fall in 2023, but guidance was still above analyst estimates.)
$Ford Motor (F.US)$ +2% (the company announced Monday it would lower the price of the Mach-E, its electric pickup truck. The company reports earnings later in the week.)
$United Parcel Service (UPS.US)$ +1.9% (the company reported earnings that beat analyst expectations. The company posted adjusted earnings per share of $3.62 on $27.08 billion in revenue. Analysts had forecast earnings of $3.59 per share and $28.09 billion in revenue, per Refinitiv.)
$International Paper (IP.US)$ +4.6% (The packaging and paper products company reported fourth-quarter adjusted operating earnings of 87 cents per diluted share, exceeding StreetAccount’s estimate of 69 cents per diluted share. However, the company reported a net earnings loss of $318 million for the quarter.)
$PulteGroup (PHM.US)$ +1% (PulteGroup reported a better-than-expected fourth quarter. The company reported $3.63 in adjusted earnings per share on $5.17 billion of revenue. Wall Street analysts were expected $2.93 in earnings per share on $4.58 billion of revenue, according to StreetAccount. PulteGroup's homebuilding gross margin rose year over year.)
Gapping down
$McDonald's (MCD.US)$ -1% (McDonald's reported its latest quarterly results. The fast food giant topped earnings and revenue estimates, saying customers are increasingly visiting its restaurants. McDonald's CEO Chris Kempczinski said he expects "short-term inflationary pressures to continue in 2023.")
$Exxon Mobil (XOM.US)$ -1% (The oil giant was under pressure despite reporting upbeat financial results for the latest quarter. The company, whose stock price rallied more than 80% last year, saw a tightening in supplies as economies began recovering, CEO Darren Woods said in a statement.)
$Caterpillar (CAT.US)$ -2% (the industrial giant posted a disappointing quarterly profit. The company reported earnings of $3.86 per share, well below a Refinitiv consensus estimate of $4.06 per share. Caterpillar said its bottom line was impacted by an "unfavorable ME&T foreign currency impact in other income (expense) of $0.41 per share.")
$Pfizer (PFE.US)$ -2% (the company reported mixed quarterly results and issued earnings and revenue guidance for the full year that came in below analysts' expectations, according to StreetAccount. Pfizer said it expects revenues from its Comirnaty and Paxlovid drugs to fall 64% and 58%, respectively, from actual 2022 results.)
$Lucid Group (LCID.US)$ -4.4% (The company's shares further cooled off after a monster options fueled rally on Friday.)
Source: CNBC
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