Take a look at some of the biggest movers in the presales market:
3M (MMM) – 3M rose 1.9% premarket after reporting quarterly earnings of $2.31 per share, beating expectations by 30 cents. Revenue also beat expectations, and 3M said its business improved in December as supply chain issues, omicron and other issues eased.
Johnson & Johnson (JNJ) – Johnson & Johnson beat estimates by a penny per share, with quarterly earnings of $2.13 per share. The company gave an optimistic full-year forecast, but fourth-quarter revenue fell short of analysts’ forecasts. Its shares fell 1.6% in premarket trading.
General Electric (GE) – General Electric fell 2.8% in premarket action as fourth-quarter revenue fell short of Wall Street expectations. Quarterly earnings came in at 92 cents per share, compared with the consensus estimate of 85 cents per share. The company also forecasts improved cash flow in 2022.
American Express (AXP) – Record card spending helped American Express report better-than-expected fourth-quarter profit and revenue. Earnings per share came in at $2.18, well above the consensus estimate of $1.87 per share.
Polaris Industries (PII) – The recreational vehicle maker beat estimates by 13 cents a share with a quarterly profit of $2.16 a share. Revenue also beat consensus. Profits were lower than a year ago due to higher costs for Polaris to handle components and logistics.
IBM (IBM) – IBM beat estimates by 5 cents per share, with a quarterly profit of $3.35 per share. Revenue also beat expectations for the strength of IBM’s cloud computing business. IBM shares experienced some volatility in after-hours trading, but recovered 1.5% in pre-market trading after the company declined to provide an earnings forecast.
Ericsson (ERIC) – Ericsson reported better-than-expected quarterly earnings, as the Swedish telecoms equipment maker benefited from an accelerated rollout of 5G networks around the world. Shares surged 5.5% in premarket trading.
Logitech (LOGI) – Logitech’s sales fell 2% in its most recent quarter, as the computer peripherals maker faced stark comparisons to a year ago when demand rose due to the pandemic. However, Logitech raised its sales forecast for the current quarter, and its shares rose 4.5% in premarket trading.
PetMed Express (PETS) – PetMed Express fell 9 cents a share, missing consensus estimates, on a quarterly profit of 21 cents a share. The pet supplies seller’s revenue also fell short of analysts’ expectations. The stock fell 2.7% in premarket trading.
Zions Bancorporation (ZION) — Zions shares rose 1.1% in premarket trading after beating its latest quarterly high and low estimates. It was the latest in a series of upbeat reports from regional banks.
Allscripts Healthcare Solutions (MDRX) – Allscripts released preliminary quarterly earnings and revenue numbers that beat Wall Street expectations. The physician practice management technology provider also announced a new $250 million share repurchase program. The stock surged 8.6% in premarket trading.
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