Take a look at the companies making the biggest moves in premarket trading: General Motors. The automaker’s shares rose 4% after it reported $2.62 per share on revenue of $43.01 billion for the first quarter. Analysts were expecting $2.15 per share on revenue of $41.92 billion at LSEG. GM also raised expectations for adjusted free cash flow from the auto industry to $8.5 billion to $10.5 billion, up from its previous forecast of $8 billion to $10 billion. GE Aerospace – Shares rose more than 4% after the company reported earnings of 82 cents per share for the first quarter on revenue of $16.1 billion. According to LSEG, results were better than analysts’ expectations (65 cents per share) on revenue of $15.14 billion. United Parcel Service – Shares of the company lost 0.8 %, as UPS’s first-quarter profit topped forecasts but revenue came in below forecasts amid subdued demand for small package delivery. UPS reported adjusted earnings per share of $1.43, compared with analysts’ estimates of $1.29 per share, according to LSEG. Pepsico — Shares of the snack and beverage company fell despite stronger-than-expected first-quarter results. Pepsico reported adjusted earnings per share of $1.61 on revenue of $18.52 billion. Analysts surveyed by LSEG expected $1.52 per share on revenue of $18.07 billion. The company maintained its full-year 2024 guidance. U.S.-listed shares of Novartis rose 5% after the Swiss drugmaker beat first-quarter expectations and raised its full-year forecast. JetBlue Airways — Shares of the airline fell 10.5% after the company said revenue in the current quarter is expected to fall more than analysts expected. This comes after JetBlue posted first-quarter sales of $2.21 billion, in line with LSEG6 consensus estimates. Elsewhere, JetBlue lost 43 cents per share in the first quarter, less than the 52 cents per share predicted by Wall Street Cleveland-Cliffs. Shares fell 2% on the day after the steelmaker’s first-quarter results fell short of analysts’ expectations. Cleveland-Cliffs reported adjusted earnings of 18 cents per share on revenue of $5.2 billion. Analysts polled by LSEG expected earnings of 22 cents per share on revenue of $5.35 billion. SAP – Stocks Listed on bourse in the United States rose nearly 4% on the day after the German enterprise software company reported first-quarter revenue that beat expectations. Adjusted earnings per share were slightly below consensus estimates. SAP also confirmed its forecasts for the full year. Nucor — Shares fell 7% on the day after the steel company reported first-quarter earnings of $3.46 per share, below the consensus estimate of $3.67, according to FactSet. Revenue was also below expectations. Nucor also warned of lower profits in the second quarter. Danaher — Shares of the life sciences company rose more than 8% after first-quarter results beat analysts’ expectations. Danaher reported adjusted earnings of $1.92 per share on revenue of $5.80 billion, beating analysts’ estimates of $1.72 per share on revenue of $5.62 billion, according to FactSet. Lockheed Martin – Shares of the defense company rose 1.5% after reporting growth in revenue and profit. Lockheed reported earnings of $6.39 per share on revenue of $17.2 billion. Analysts surveyed by LSEG estimated earnings per share of $5.83 and revenue of $16.02 billion. The company reported growth across all segments. Spotify — Shares rose 8.4% after the music streaming company’s first-quarter revenue beat analysts’ expectations. Spotify reported revenue of 3.64 billion euros ($3.9 billion), compared with the LSEG consensus estimate of 3.61 billion euros. Sherwin-Williams – Shares fell 3.5% after reporting first-quarter earnings. Sherwin-Williams reported adjusted earnings per share of $2.17, missing the FactSet consensus estimate of $2.22. Revenue of $5.37 billion also fell short of the $5.50 billion expected by analysts. — Hakyung Kim, Tanaya Machil, Alex Harring, Jessie Pound and Lisa Han contributed reporting. Correction: Spotify reported first-quarter earnings in euros. An earlier version had the currency listed incorrectly.
