The companies are making news before the bell rings.
Walmart plummeted in the premarket after cutting its outlook for the current quarter. Consumers are cutting back because of higher prices for food and fuel, and the retail giant has had to cut prices to reduce excess inventory. Retail stocks fell in the wake of the Walmart warning, including a 3.6% drop for Amazon, 5.2% for Target, and 2.5% for Home Depot.
GM's stock fell in premarket trading after the company's earnings fell short of expectations. The company said it was preparing for a downturn in the economy.
The recreational vehicle maker's shares rose 3.5% in premarket action after its quarterly profit beat Street forecasts. Supply chain issues and inflationary pressures decreased during the quarter.
3M jumped 4% in the premarket after it reported better-than-expected profit and revenue for the second quarter and said it would spin off its health care business.
GE added 3.9% in the premarket after reporting better than expected second quarter profit and revenue. The recovery of GE's jet engine business boosted the company's results.
The defense contractor's second-quarter earnings were better than expected, but revenue was not as high as expected. The company is dealing with macroeconomic and supply chain challenges. The company fell in the pre market.
The company raised its full-year sales forecast. The seller of popular consumer brands like Dove soap and Hellman's mayonnaise has been able to successfully raise prices.
There is a report that the government is looking into the trading of digital assets. The digital assets should have been registered as securities, according to reports.
The Swiss bank reported a lower-than- expected quarterly profit and fell in the pre market. Market turmoil hurt the bank's bottom line.
Revenue and adjusted profit were better than Wall Street expected. The appliance maker decided to leave the Russian market. There was a 1% gain in the pre market.
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