Walmart, Coinbase, Amazon Fall Premarket; GE, Coca-Cola, 3M Rise
2022.07.26 15:38
By Peter Nurse
Investing.com — Stocks in focus in premarket trade on Tuesday, July 26th. Please refresh for updates.
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Walmart (NYSE:WMT) stock fell 9.6% after the retail giant cut its full-year profit outlook by as much as 13% as U.S. focus on buying less-profitable groceries amid soaring inflation.
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General Electric (NYSE:GE) stock rose 3.9% after the industrial conglomerate beat second quarter expectations, helped by rebounding aerospace demand.
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McDonald’s (NYSE:MCD) stock rose 0.2% after the burger chain reported better-than-expected quarterly comparable sales, benefiting from steady online demand, new product launches, and higher prices.
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Coca-Cola (NYSE:KO) stock rose 1.3% after the soft drinks giant raised its full-year revenue growth forecast, as demand for its sodas held up despite price increases to blunt the impact of higher costs.
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General Motors (NYSE:GM) stock fell 1.6% after the auto giant said it was preparing for a potential economic slowdown by cutting spending and limiting hiring. That said, it reaffirmed its full-year profit outlook, citing an expected sharp pickup in demand.
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Amazon (NASDAQ:AMZN) stock fell 3.5% after the online retail giant said it will raise fees for its delivery and streaming service Prime in Europe by up to 43% a year as it moves to counter higher costs.
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3M Company (NYSE:MMM) stock rose 6.1% after the industrial giant announced plans to spin off its healthcare business and will retain a stake of 19.9% in the unit.
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Whirlpool (NYSE:WHR) stock rose 1.4% after the home appliances manufacturer cut its full-year earnings forecast less than feared despite the U.S. housing market softening.
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Alibaba (NYSE:BABA) ADRs rose 3.8% after the Chinese tech giant announced plans to apply for a primary listing in Hong Kong and keep its U.S. listing, the first big firm to take advantage of a rule change in the Asian financial hub.
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Coinbase (NASDAQ:COIN) stock fell 5.2% after Bloomberg reported that the U.S. Securities and Exchange Commission is investigating whether the crypto trading platform improperly let Americans trade digital assets that should have been registered as securities.
