Stocks making the biggest moves before the bell: general motors, 3m, spotify, verizon and more

Stocks making the biggest moves before the bell: general motors, 3m, spotify, verizon and more

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In this article * MMM * ALK * RTX * SPOT * DHR * XRX Follow your favorite stocksCREATE FREE ACCOUNT 3M company global headquarters. in Maplewood, Minnesota. Michael Siluk | Universal Images


Group | Getty Images _Check out the companies making headlines in premarket trading._ General Motors — Shares of General Motors rose more than 1% after the automaker raised its full-year


guidance and reported second-quarter results that rose on a year-over-year basis. 3M – Shares of the manufacturer rose about 2% in premarket trading following the company's latest


earnings report. 3M posted $7.99 billion in revenue, beating analysts' estimates of $7.87 billion, according to Refinitiv. The company also raised its full-year earnings guidance and


reaffirmed its revenue guidance. Xerox — The workplace technology provider advanced 3.6% after beating earnings expectations for the second quarter, posting 44 cents per share excluding


items against a 32-cent forecast from analysts polled by FactSet. Quarterly revenue came in line with expectations at $1.75 billion. Xerox also said to expect free cash flow and the adjusted


operating margin to be better than previously anticipated for the full year. General Electric — Shares of the industrial giant jumped more than 4% in premarket trading after the company


posted stronger-than-expected earnings for the second quarter. GE also boosted its full-year profit guidance on the back of strong demand from aerospace and record orders in its renewable


energy business. Danaher — Shares of the conglomerate slid 4.6%. Danaher said non-GAAP core revenue in the base business will be down in the current quarter compared with the same quarter a


year ago and would be up less than previously expected for the full year. However, the company gave a strong quarterly report, posting second quarter earnings per share excluding items at


$2.05 and revenue at $7.16 billion, while analysts polled by FactSet anticipated $2.01 per share on $7.12 billion in revenue. Spotify — The music streaming platform dropped 6.1% after


presenting a weak quarterly report and guidance. Spotify reported revenue of €3.18 billion, below a Refinitiv forecast of €3.21 billion. Full-year revenue guidance was also worse than


analysts expected. The report follows Spotify's announcement that it will raise prices for premium subscription plans. Lilium — The electric helicopter stock added 5.6% after management


released a letter to shareholders. In the letter, management said adjusted cash spend for the first half of 2023 was within budget and the company was successful in an audit from the


European Union Aviation Safety Agency. Alaska Air — Shares of the airline fell more than 4% even after Alaska beat estimates on the top and bottom lines for the second quarter. Alaska


reported $3 in adjusted earnings per share on $2.84 billion in revenue. Analysts surveyed by Refinitiv were expecting $2.70 in earnings per share on $2.77 billion in revenue. The


airline's full-year earnings guidance of $5.50 to $7.50 per share was roughly in-line with the average analyst estimates of $6.65, according to FactSet. RTX — Shares of the company


formerly known as Raytheon slipped 3% despite a strong quarterly report. RTX ported $1.29 in earnings per share, excluding items, on $18.32 billion in revenue. Analysts polled by Refinitiv


forecasted $1.18 per share and $17.68 billion. The company also raised its full-year expectations for both lines. Verizon — The telecommunications giant traded 2.6% higher after reaffirming


its full-year guidance. That came despite a mixed second quarter, with Verizon posting $1.21 in earnings per share, excluding items, on $32.6 billion in revenue. Analysts polled by Refinitiv


estimated $1.17 earnings per share and revenue of $33.24 billion. Walmart — Walmart rose more than 1% after Piper Sandler upgraded the big-box retailer Monday to overweight from neutral,


and hiked its price target. Analyst Edward Yruma said Walmart could take greater market share in the grocery business as inflation eases. _— CNBC's Samantha Subin, Yun Li, Jesse Pound,


Sarah Min and Tanaya Macheel contributed reporting_