Twitter, Warner Bros Discovery Rise Premarket; PepsiCo, GE Fall
2022.04.26 15:37
By Peter Nurse
Investing.com — Stocks in focus in premarket trade on Tuesday, April 26th. Please refresh for updates.
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Twitter (NYSE:TWTR) stock rose 0.2% as investors continue to digest the news that the board of the social messaging service has agreed to Elon Musk’s $44 billion bid to take the company private.
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PepsiCo (NASDAQ:PEP) stock fell 0.7% after the soft drinks giant took a $241 million charge in the first quarter related to property, plant and equipment impairment, as well as inventory write-downs due to the Russia-Ukraine crisis. That said, it also raised its full-revenue forecast, aided by higher prices and a rebound in demand at theaters and restaurants.
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3M (NYSE:MMM) stock fell 1.1% after the industrial giant reported a fall in quarterly adjusted profit, hurt by waning demand for its disposable N95 masks as Covid-19 recedes.
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General Electric (NYSE:GE) stock fell 3.3% after the industrial conglomerate forecast its full-year earnings at the lower end of its previous range, citing persistent supply chain disruptions and rising freight and raw material costs.
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Valero Energy (NYSE:VLO) stock rose 1.6% after the refiner reported a first-quarter profit compared with a year-ago loss, benefiting from a strong refining margin and higher demand for fuel and refined products.
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Warner Bros Discovery (NASDAQ:WBD) stock rose 1.4% after the media giant’s quarterly revenue rose 13% in the first set of results since the $43 billion merger between Discovery and AT&T’s media assets.
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Raytheon (NYSE:RTN) stock fell 0.6% after the aerospace and defense firm lowered its full-year revenue forecast, hurt by the cessation of its activities in Russia.
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Delta Air Lines (NYSE:DAL) stock fell 0.3% after the carrier said it will start paying flight attendants during boarding, instead of when the doors close, a first for a major U.S. airline.
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Redfin (NASDAQ:RDFN) stock fell 6.6% after Piper Sandler downgraded its investment stance on the real estate brokerage to ‘underweight’ from ‘overweight’, citing a challenging housing market with rising mortgage rates.
