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Find out which companies are making headlines before the bell.
McDonald’s — Shares fell more than 1% after McDonald’s released its latest quarterly results. The fast-food giant beat revenue and earnings estimates, saying customers are increasingly visiting its restaurants. Still, McDonald’s CEO Chris Kempczinski said he expects “near-term inflationary pressures to continue into 2023.”
General Motors – The automaker’s shares rose more than 5% in premarket trading after GM beat estimates on top and bottom results for its fourth quarter, even as its profit margin narrowed. The company reported adjusted revenue of $2.12 per share on revenue of $43.11 billion. Analysts polled by Refinitiv were looking for $1.69 in earnings per share on $40.65 billion in revenue. GM said it expected earnings to decline in 2023, but the forecast was still higher than analysts’ estimates.
Ford — Ford shares rose 2% after the company said Monday it would lower the price of the Mach-E, its electric pickup truck. The company releases its results later in the week.
United Parcel Service – UPS shares rose 1.9% after the company reported earnings that beat analysts’ expectations. The company posted adjusted earnings per share of $3.62 on revenue of $27.08 billion. Analysts had expected earnings of $3.59 per share and $28.09 billion in revenue, per Refinitiv.
Exxon Mobil — The oil giant was under pressure despite the publication of optimistic financial results for the last quarter. The company, whose share price rose more than 80% last year, saw a supply crunch as economies began to recover, CEO Darren Woods said in a statement. The 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 consensus Refinitiv estimate of $4.06 per share. Caterpillar said its bottom line was impacted by an “unfavorable ME&T currency impact on other income (expense) of $0.41 per share.”
Pfizer – Shares of the vaccine maker fell more than 2% after the company reported mixed quarterly results and released full-year earnings and revenue forecasts that fell short of analysts’ expectations, according to StreetAccount. Pfizer said it expects revenue from its drugs Comirnaty and Paxlovid to fall 64% and 58%, respectively, from actual results in 2022.
International paper – The packaging and paper products company reported fourth-quarter adjusted operating profit of 87 cents per diluted share, beating StreetAccount’s estimate of 69 cents per diluted share. However, the company reported a net profit loss of $318 million for the quarter. International Paper nearly 6% in pre-marketing.
Lucid – Shares of Lucid fell 4.4%, cooling further after a monstrous options-fueled rally on Friday.
Pulte Group – Shares of the homebuilder rose more than 1% in premarket trading after PulteGroup reported a better-than-expected fourth quarter. The company reported adjusted earnings per share of $3.63 on revenue of $5.17 billion. Wall Street analysts were expecting $2.93 in earnings per share on $4.58 billion in revenue, according to StreetAccount. PulteGroup’s residential construction gross margin increased year-over-year.
– CNBC’s Fred Imbert, Jesse Pound, Tanaya Macheel, Sarah Min, Carmen Reinicke and Michelle Fox contributed reporting