Welcome to Extreme Investor Network, where we provide you with the latest news and updates in the world of finance. Today, we are taking a closer look at some of the companies that are making headlines before the bell.
Eli Lilly, the maker of the Mounjaro diabetes and weight loss drug, saw its shares jump nearly 7% after reporting first-quarter adjusted earnings that beat analysts’ estimates. The company also raised its full-year guidance for adjusted earnings and revenue, surpassing expectations.
3M, a manufacturer of industrial products, also impressed investors with its earnings of $2.39 per share and revenues of $7.72 billion. The company announced a dividend cut after spinning off its healthcare unit, a move that surprised many.
On the flip side, F5, a cloud computing company, slid 10% after issuing third-quarter revenue guidance that fell short of analysts’ estimates. The company also missed second-quarter revenue expectations, prompting several brokers to lower their price targets.
McDonald’s, the fast-food chain giant, saw its shares dip nearly 2% as same-store sales fell short of expectations, causing quarterly earnings to miss analysts’ estimates.
Stellantis, the Jeep maker formerly known as Chrysler, experienced a 3.6% drop in shares after reporting lower-than-expected revenue in the first quarter. Despite strong net pricing, sales were impacted by foreign exchange effects.
Coca-Cola, the soft drink giant, reported first-quarter results slightly ahead of expectations, with key drivers of revenue growth including increases in price and product mix.
Tesla, the electric vehicle maker, lost 1.9% in premarket trading after a significant surge the day before. The company received approval from China to roll out its advanced driver-assistance service technology, driving investor optimism.
HSBC, Europe’s largest bank by assets, saw its shares rise 4.2% after beating first-quarter earnings expectations and announcing the departure of its Group Chief Executive Officer. The bank also reiterated its 2024 financial guidance.
GE Healthcare Technologies, a medical device maker, tumbled 8.1% after missing first-quarter revenue estimates due to weaker sales in China and lower imaging demand.
PayPal, the financial payments company, saw its shares climb 5.1% after surpassing revenue expectations in the first quarter. The company reported revenue of $7.7 billion, topping analysts’ consensus estimate.
Stay tuned to Extreme Investor Network for more updates on these companies and others in the ever-changing world of finance. Let us guide you on your investment journey with expert analysis and unique insights that you won’t find anywhere else.