Check out the companies making headlines in premarket trading.
PepsiCo – Shares of the food and beverage giant dipped in the premarket although the company reported a beat on the top and bottom lines in the recent quarter as consumers paid more for some of the company's key brands.
General Electric – General Electric's stock fell 3.5% despite topping estimates in its quarterly report. The company confirmed its previous full-year profit guidance range and said it sees challenges from inflation and supply chain issues.
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United Parcel Services — Shares of the shipping and logistics giant gained 1.7% after beating analyst estimates on the top and bottom lines. UPS reported adjusted earnings per share of $3.05 on revenues of $24.38 billion while analysts expected $2.88 earnings per share on $23.79 billion in revenue.
3M – 3M shares were flat premarket after reporting quarterly earnings that topped estimates. The company saw revenues of $8.83 billion while analysts expected $8.74 billion in revenue.
D.R. Horton — The homebuilder stock rose 2.8% during premarket trading after beating analyst estimates in the previous quarter. D.R. Horton reported adjusted earnings of $4.03 a share on revenues of $8 billion. Analysts anticipated $3.37 adjusted earnings per share on $7.62 billion in revenue.
Money Report
SeaWorld — The theme park and entertainment company's stock surged 4.6% after Rosenblatt Securities initiated coverage with a buy and said despite pandemic headwinds the company has faired well under the vision of big investor Scott Ross.
