Friday, March 29, 2024
Homemarket insiderEarly movers: MMM, UTX, DD, CAT, GM, LLY, KORS, C, WMT &...

Early movers: MMM, UTX, DD, CAT, GM, LLY, KORS, C, WMT & more

Check out which companies are making headlines before the bell:

3M – The diversified consumer products maker earned an adjusted $2.25 per share for the second quarter, falling short of the $2.54 consensus estimate. Revenue also missed forecasts, although the company did raise its full-year outlook.

United Technologies – The maker of Pratt & Whitney engines and Carrier air conditioners reported adjusted quarterly profit of $1.85 per share, seven cents a share above estimates. Revenue beat forecasts, as the company saw improved sales at three of its four businesses. The company also raised the lower end of its full-year 2017 forecast.

DuPont – DuPont came in nine cents a share above estimates, with adjusted quarterly profit of $1.38 per share. Revenue also beat forecasts. DuPont, which plans to complete its merger with Dow Chemical next month, saw results boosted by higher agricultural sales.

Caterpillar – The heavy equipment maker earned an adjusted $1.49 per share for the second quarter, 23 cents a share above estimates. Revenue beat forecasts, as well. Caterpillar also raised its full-year forecast on increased demand, as well as cost controls.

General Motors – The automaker earned $1.89 per share for the second quarter, 20 cents a share above estimates. Profit was down from a year earlier as auto sales slowed, but GM did beat Street forecasts and did not issue any change in earnings or revenue guidance.

Eli Lilly – The drugmaker reported adjusted quarterly profit of $1.11 per share, six cents a share above estimates. Revenue was above forecast, as well, and Lilly raised its adjusted full-year forecast. Its bottom line was boosted by the success of newer products.

PulteGroup – The third largest U.S. home builder came in six cents a share above estimates, with adjusted quarterly profit of 47 cents per share. Revenue was very slightly below forecasts. Pulte sold more homes at higher prices and saw a 12.3 percent jump in new orders.

Michael Kors — The luxury goods seller has agreed to buy upscale shoe maker Jimmy Choo for nearly $1.2 billion. Current Chief Executive Pierre Denis will continue to run Jimmy Choo after the sale closes.

Alphabet – Alphabet reported quarterly profit of $5.01 per share, beating consensus estimates of $4.49 a share. The Google parent's revenue also beat forecasts, helped by increased ad sales.

Logitech – Logitech increased its full-year profit outlook, after the maker of computer peripherals reported strong sales of its gaming and video products.

Royal Dutch Shell – The energy producer and SoftBank are said to be among the bidding for Asian renewable energy company Equis Energy, according to a Reuters report. Equis is said to be valued at up to $5 billion.

Citigroup — Citi will hold its first investor conference since the financial crisis today. About 250 analysts and investors will attend the meeting in New York, and the gathering will also be available online.

Toyota – The automaker is developing an electric car that charges faster and drives further than current models, according to a Tokyo newspaper, with the company aiming to start selling the new vehicle in 2022.

Barnes & Noble – The company is being pushed by activist investor Sandell Asset Management to sell itself, according to The Wall Street Journal. The paper said Sandell recently began buying a stake in the book retailer and is now among its 10 biggest shareholders.

Goldman Sachs – Goldman is pulling back from its market making activities in exchange-traded funds, according to The Wall Street Journal, which said the firm has lashed the number of funds it supports as a lead market maker.

Wal-Mart – The retail giant has expanded its partnership with China-based e-commerce firm JD.com. The two companies will expand integration of their platforms, supply chains, and customer resources in China.

Big Lots – Big Lots was upgraded to "buy" from "hold" at Deutsche Bank, which cited the discount retailer's valuation.

Centene – The health insurer beat estimates by 27 cents a share, with adjusted quarterly profit of $1.59 per share. Revenue also came in above forecasts. Centene's bottom line was boosted by growth in its Affordable Care Act business as well as increased enrollment in its Medicaid plans.

CORRECTION: This story has been updated to show 3M earned an adjusted $2.25 per share for the second quarter, falling short of the $2.54 consensus estimate.

RELATED ARTICLES
- Advertisment -

Most Popular