Shares of General Electric Co. dropped Tuesday, as an adjusted first-quarter profit beat, upbeat free cash flow and an affirmed full-year outlook wasn't enough to extend their recent win streak, as revenue fell a bit shy of forecasts.
Modest gains for stocks nudged the S&P 500 and the Nasdaq to more record highs on Wall Street as investors brace for a deluge of earnings reports from big U.S. companies. The S&P 500 climed 0.2% Monday, while the Nasdaq added 0.9%. The Dow Jones industrials ended slightly lower.
By Kosaku Narioka Maruti Suzuki India Ltd. reported its fourth-quarter results on Tuesday. Here's what you need to know. NET PROFIT: Maruti's net profit fell 6.1% from a year earlier to 12.41 billion Indian rupees ($166.0 million) for the quarter ended March 31.
General Electric Co. is scheduled to report first-quarter results before Tuesday's opening bell, and there may be some concern that investors are set up to be disappointed, given that the industrial conglomerate's stock has been rising even as analyst expectations have been falling.
Turning Points Brands Inc. shares rose about 3% in premarket trade Tuesday, after the maker of vapes and other accessories for the cannabis market . The Louisville, Kentucky-based company posted net income of $11.8 million, or 57 cents a share, for the quarter, up from $4.5 million, or 22 cents a share, in the year-earlier period.
Shares of Raytheon Technologies Corp. edged up 0.6% in premarket trading Tuesday, after the aerospace and defense contractor reported a first-quarter profit that beat expectations, and provided an upbeat outlook, while revenue came up a little short.
Shares of General Electric Co. gained 1.2% in premarket trading Tuesday, after the industrial conglomerate swung to a first-quarter loss, but reported adjusted profit that topped expectations while revenue fell shy. The net loss for the quarter was $2.87 billion, or 33 cents a share, after net income of $6.16 billion, or 70 cents a share, in the year-ago period.
By Dominic Chopping STOCKHOLM--Swedish industrial tool maker Atlas Copco AB on Tuesday posted a rise in first-quarter net profit after seeing strong demand for equipment from the semiconductor industry with strong order growth across most regions, particularly in Asia.
Shares of United Parcel Service Inc. jumped 4.7% into record territory in premarket trading Tuesday, after the package delivery giant reported first-quarter profit and revenue that were well above expectations. Net income was $4.79 billion, as earnings per share climbed 393% from the year-ago period to $547.
Amazon.com Inc. is scheduled to report its first-quarter earnings on Thursday after the closing bell, but analysts are already looking ahead to the possible summertime return of the colossal Prime Day shopping event. Last year, Amazon pushed Prime Day back to October 13 and October 14 due to the disruption of the shopping calendar from COVID-19.
Shares of 3M Co. climbed 1.5% toward a two-year high in premarket trading Tuesday, after the consumer, health care and industrial products company, which makes Post-it Notes and N95 face masks, reported first-quarter profit and revenue that beat expectations, and affirmed its full-year outlook.
Shares of Paccar Inc. rallied 1.8% in premarket trading Tuesday, after the truck manufacturer reported record first-quarter profit and revenue that beat expectations, citing "robust" freight activity, high truck utilization and benefits from its ecommerce investments. Net income rose to $470.1 million, or $1.35 a share, from $359.4 million, or $1.03 a share, in the year-ago period.
S&P 500 CEOs' massive paychecks get attention this time of year. But CEOs of two major companies actually made less than their employees - something investors don't see very often.
FactSet Research (FDS) shares ended the last trading session 7.2% higher at $347.10. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 0.8% gain over the past four weeks.
Albertsons was falling Monday after the grocery retailer swung to a fourth-quarter loss. Shares of the Boise, Idaho company were down nearly 2% to $18.80. Tesla, Microsoft, Bitcoin, 'Nomadland' - 5 Things You Must Know Monday Albertsons reported a loss of $144.2 million or 37 cents a share, compared with net income of $67.8 million, or 12 cents a share, a year ago.
What's happening: Billionaires, celebrities and athletes have raced to create special-purpose acquisition companies, or SPACs, over the past six months. These "blank check" firms, which raise money from investors and then go hunting for takeover targets, have been flagged as a sign of overexcitement on Wall Street.
Shares of Check Point Software Technologies Ltd. were indicated up nearly 2% in premarket trading Monday, after the Israel-based cyber security company reported first-quarter profit and revenue that rose above expectations. "Net income rose to $182.9 million or $1.33 a share, from $178.7 million, or $1.23 a share, in the year-ago period.
Otis Worldwide Corp. shares rose 2% in premarket trade Monday, after the elevator and escalator manufacturing and services company blew past estimates for the first quarter and raised its full-year guidance. Otis posted net income of $308 million, or 71 cents a share, for the quarter, up from $165 million, or 60 cents a share, in the year-earlier period.
Apple reports their fiscal Q2 financials on Wednesday and certain analysts are already forecasting a very strong quarter. Apple's revenue in the last quarter is expected to grow by more than 30% over the same period last year while iPhone revenue will show an increase of about 40% annually, showing that Apple's growth momentum is remaining strong.
STOCKHOLM--Swedish steelmaker SSAB AB posted a bigger-than-expected rise in first-quarter net profit amid strong demand and higher prices. The company posted a first-quarter net profit of 1.51 billion Swedish kronor ($180.1 million) from SEK178 million a year earlier, as sales rose 4.7% to SEK19.66 billion.