Nathan Stirk | Getty Images News | Getty Images
Check out the companies making headlines before the bell.
McDonald’s — Shares dipped more than 1% after McDonald’s reported its latest quarterly results. The fast food giant topped earnings and revenue estimates, saying customers are increasingly visiting its restaurants. Still, McDonald’s CEO Chris Kempczinski said he expects “short-term inflationary pressures to continue in 2023.”
General Motors — Shares of the automaker rose more than 5% in premarket trading after GM beat estimates on the top and bottom lines for its fourth quarter, even as its profit margin narrowed. The company reported an adjusted $2.12 per share on $43.11 billion in revenue. Analysts surveyed by Refinitiv were looking for $1.69 in earnings per share on $40.65 billion in revenue. GM said it expected earnings to fall in 2023, but guidance was still above analyst estimates.
Ford — Shares of Ford rose 2% after the company announced Monday it would lower the price of the Mach-E, its electric pickup truck. The company reports earnings later in the week.
United Parcel Service – Shares of UPS rose 1.9% after the company reported earnings that beat analyst expectations. The company posted adjusted earnings per share of $3.62 on $27.08 billion in revenue. Analysts had forecast earnings of $3.59 per share and $28.09 billion in revenue, per Refinitiv.
Exxon Mobil — The oil giant was under pressure despite reporting upbeat financial results for the latest quarter. The company, whose stock price rallied more than 80% last year, saw a tightening in supplies as economies began recovering, CEO Darren Woods said in a statement. Shares fell more than 1%.
Caterpillar — Caterpillar shares fell more than 2% after the industrial giant posted a disappointing quarterly profit. The company reported earnings of $3.86 per share, well below a Refinitiv consensus estimate of $4.06 per share. Caterpillar said its bottom line was impacted by an “unfavorable ME&T…
Read the full article here
