Stocks - Caterpillar, 3M Tank in Pre-market; McDonald’s, Verizon Gain
Published Oct 23, 2018 08:26AM ET
Stocks in focus in pre-market trade on Tuesday.
Investing.com - Stocks in focus in pre-market trade Tuesday:
• Caterpillar (NYSE:CAT) stock tumbled 6.55% by 8:11 AM ET (12:11 GMT) despite better-than-expected profit and revenue as the company reiterated its forecast for 2018 earnings per share of $11.00 to $12.00, the midpoint falling below expectations of $11.65.
• 3M (NYSE:MMM) stock tanked 6.49% after third-quarter results missed consensus and the company reported a disappointing full-year earnings guidance.
• McDonald’s (NYSE:MCD) stock gained 2.92% after the company reported quarterly results that beat on the top and bottom lines, while the increase in global same-store sales beat estimates.
• Johnson & Johnson (NYSE:JNJ) stock dropped 0.85% after the company said it would acquire all outstanding shares of Japanese cosmetics firm Ci:z Holdings that it does not already own for 230 billion yen ($2.05 billion).
• Verizon Communications (NYSE:VZ) stock rose 0.49% after the company reported better-than-expected new subscriber numbers.
• United Technologies (NYSE:UTX) stock gained 0.47% as the company reported quarterly profit that beat estimates thanks to higher sales of aircraft parts and raised its full-year outlook.
• Harley-Davidson (NYSE:HOG) stock fell 0.72% despite reporting quarterly earnings per share that topped consensus as the company registered a sharp decline in U.S. sales.
• Xerox (NYSE:XRX) stock inched up 0.19% despite missing revenue estimates as the company raised its share buyback target and reported higher cash flow.
• Biogen (NASDAQ:BIIB) stock rose 0.20% as the company reported better-than-expected third quarter results.
• Philip Morris International (NYSE:PM) stock edged forward 0.10% as the company released cheaper versions of its IQOS “heat not burn” tobacco products in Japan.
• Constellation Brands (NYSE:STZ) stock lost 1.67% amid reports that the U.S.-based producer of Corona and Modelo beers is looking to sell some of its U.S. wine brands.
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