General Motors, Coca-Cola, Spotify rise premarket, UPS, Comcast fall.
Investing.com — U.S. stock futures steadied Tuesday, ahead of the release of key corporate earnings, particularly from the important tech sector.
Here are some of the biggest premarket U.S. stock movers today:
General Motors (NYSE:GM) stock soared 4.9% after the auto giant beat second-quarter profit and revenue expectations and raised its annual profit forecast for a second time this year, buoyed by strong pricing and demand for gas-powered trucks.
Coca-Cola (NYSE: KO) stock rose 1.4% after the soft drink’s giant raised its annual organic sales and profit forecast, signaling strong demand for its beverages in its U.S. and international markets.
United Parcel Service (NYSE: UPS) stock fell 8.1% after the package delivery service reported disappointing second-quarter earnings, amid revenue weakness in the domestic business.
Spotify (NYSE: SPOT) stock soared 13% after the music streaming service reported better-than-expected earnings for the second quarter, with its gross margin coming in at 29.2%, easily topping forecasts.
Kimberly-Clark (NYSE: KMB) stock fell 0.8% after the household products manufacturer raised its forecast for full-year profit after beating estimates for second-quarter profit.
Comcast (NASDAQ: CMCSA) stock fell 0.7% after the U.S. telecom and media firm missed estimates for quarterly revenue as it had fewer movie releases during the period, while attendance at its theme parks stayed low.
GE Aerospace (NYSE:GE) stock rose 3.5% after the industrial giant raised its annual profit forecast on strong demand for its aftermarket services, including jet-engine parts.
Cadence Design (NASDAQ: CDNS) stock fell 1.1% after the electronic design stock offered up soft earnings guidance for the current quarter.
Crown Holdings (NYSE: CCK) stock rose 7.2% after the packaging product maker reported full-year guidance that exceeded expectations.
NXP Semiconductors (NASDAQ: NXPI) stock slid 8% after the Dutch company reported second-quarter adjusted earnings missing expectations, as it battles sluggish demand from automotive customers.
Polaris (NYSE: PII) stock fell 12% after the automotive manufacturer posted weaker than expected second-quarter earnings and slashed its full-year guidance.