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The results were better than analysts' expectations of 65 cents per share on revenues of $15.14 billion, according to LSEG. UPS posted $1.43 adjusted earnings per share while analysts had estimated $1.29 earnings per share, according to LSEG. Danaher — The life sciences firm popped more than 8% after beating analysts expectations for its first-quarter results. Spotify — Shares rallied 8.4% after the music streaming company's first-quarter revenues beat analysts' expectations. Sherwin-Williams reported adjusted earnings per share of $2.17, missing the FactSet consensus estimate of $2.22.
Persons: General Motors, Nucor, Danaher, Lockheed Martin, LSEG, Sherwin, Williams, — Hakyung Kim, Tanaya Macheel, Alex Harring, Jesse Pound, Lisa Han Organizations: General, GM, GE Aerospace —, United Parcel Service, UPS, Pepsico —, Pepsico, Novartis — U.S, JetBlue Airways —, JetBlue, Wall Street, SAP — U.S, SAP, Revenue, Lockheed, , Spotify Locations: Swiss, Wall Street Cleveland
General Motors — Shares rose more than 4% after the automaker exceeded analysts' expectations for its first-quarter results . General Motors posted adjusted earnings of $2.62 per share on revenue of $43.01 billion. Danaher — The life sciences firm popped more than 7% after beating analysts' expectations for its first-quarter results. Spotify — The streaming music company surged 16% after easily topping earnings expectations . KeyBanc Capital Markets downgraded Sunnova Energy to sector weight from overweight, citing caution on residential solar names particularly ahead of first-quarter earnings.
Persons: General Motors, JetBlue's, LSEG, Nucor, Danaher, Sherwin, Williams, Sunnova, LKQ, MSCI, — CNBC's Michelle Fox, Sarah Min, Jesse Pound Organizations: General Motors, General, GE Aerospace —, GE, PepsiCo, Novartis, JetBlue Airways —, Spotify, JPMorgan, Sunnova Energy, KeyBanc, FactSet Locations: U.S, LSEG . Cleveland, Cleveland
Intel — Shares popped 2.5% after the chipmaker announced it would be operating its programmable chip unit as a standalone business complete. Intel plans to conduct an initial public offering for the unit within the next two to three years. The firm is bullish on the stock thanks to progress on legacy projects and said Fluor is on the brink of a company turning point. Sunrun , Sunnova Energy International — Shares of Sunrun and Sunnova dropped 3% and 2.8%, respectively, after Truist Securities downgraded the solar panel installers to hold from buy on Wednesday. Cal-Maine Foods — The stock plunged 11.6% after the company came out with disappointing sales figures due to lower prices.
Persons: Fluor, Sunnova, Moderna, StreetAccount, — CNBC's Brian Evans, Lisa Han Organizations: Intel, UBS, Apple, Sunnova Energy, Truist Securities, Moderna, pharma, Bank of America, Novartis —, Swiss drugmaker, Sandoz, SIX Swiss Exchange, Maine Foods, Revenue Locations: United States, Israel, Swiss, Cal
Check out the companies making the biggest moves before the bell:Bank of America — Bank of America added 0.4% in the premarket after beating top and bottom line estimates for the second quarter. Bank of N.Y. Mellon — The bank reported better-than-expected profit and revenue for the second quarter. However, the stock fell more than 1%PNC Financial — PNC shares fell 2.7% in the premarket after posting lower-than-expected quarterly revenue, even as earnings beat forecasts. Novartis — Novartis jumped 2.9% in premarket action after the drug maker raised its full-year outlook on strong pharmaceutical sales. Norwegian Cruise Line — The cruise line operator's stock slid 1.8% in premarket action after Truist downgraded the stock to a hold from a buy.
Persons: Masimo — Masimo, Pinterest — Pinterest, Evercore, Truist Organizations: of America — Bank of America, Bank, N.Y, Mellon, PNC Financial, PNC, Verizon, Novartis, Sandoz, Evercore ISI, Norwegian Cruise Locations: San Francisco ., BofA, Norwegian
Morgan Stanley — Shares of the James Gorman-led bank jumped more than 6% after the firm posted second-quarter earnings and revenue that topped analysts' expectations. Bank of America – Bank of America shares rose nearly 4% after the company reported second-quarter financial results. Bank of New York Mellon — Shares rose more than 4% after Bank of New York Mellon reported second-quarter revenue and profit that beat Wall Street's expectations. PNC Financial — Shares gained 2.6% after PNC Financial reported second-quarter earnings that topped Wall Street's earnings expectations but came in slightly short on revenue. The Swiss pharmaceutical firm reported second-quarter earnings that topped estimates, according to StreetAccount.
Persons: Charles Schwab, Morgan Stanley —, James Gorman, Morgan Stanley's, Refinitiv, PacWest, Bernstein, UnitedHealth, Pinterest, intraday, Masimo preannounced, Stifel, Lockheed Martin, Macheel, Sarah Min, Yun Li, Alex Harring, Michelle Fox Organizations: Bank of America – Bank of America, Regional Banking, Western Alliance, FB Financial, Verizon, AT, Bank of New York Mellon, PNC, PNC Financial, Novartis — U.S, Novartis, Sandoz, Masimo, Lockheed Locations: San Francisco , California, Swiss, FactSet
3M reported $1.97 in earnings per share, higher than analysts expectations of $1.58 from FactSet. The company reported $2.63 in adjusted earnings per share on $5.9 billion in revenue. The company reported $39.99 billion in revenue, higher than $38.96 billion according to Refinitiv data. Novartis reported earnings per share of $1.71 on $12.95 billion in revenue, topping analysts' expectations of $1.54 per share on $12.52 billion in revenue. PepsiCo reported earnings per share of $1.50, topping analysts' expectations of $1.39.
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