26 April 2022
Check out the companies hitting the news headlines in the premarket.
PepsiCo - Shares of the food and beverage giant fell in the premarket, though the company reported improved top-line and bottom-line performance in the latest quarter as consumers began paying more for some of the company's key brands.
General Electric - General Electric shares fell 3.5% despite beating estimates in the quarterly report. The company reiterated its previous full-year earnings guidance and said it sees challenges related to inflation and supply chain issues.
United Parcel Services - Shares of the shipping and logistics giant rose 1.7% after beating analysts' estimates on the top and bottom lines. UPS reported adjusted earnings per share of $3.05 on revenue of $24.38 billion, compared with analysts' expectations of $2.88 earnings per share on revenue of $23.79 billion.
3M - Shares of 3M were flat in the market after the company reported quarterly earnings that beat forecasts. The company reported revenue of $8.83 billion, compared with analysts' expectations of $8.74 billion.
D.R. Horton - Shares of the home-building company rose 2.8 percent in premarket trading after beating analysts' estimates in the previous quarter. D.R. Horton reported adjusted earnings of $4.03 per share on revenue of $8 billion. Analysts had expected adjusted earnings of $3.37 per share on revenue of $7.62 billion.
SeaWorld - Shares of the theme park and entertainment company rose 4.6 percent after Rosenblatt Securities initiated coverage of the stock with a "buy" outlook and said that despite pandemic headwinds, the company is doing well under the guidance of major investor Scott Ross.