Stocks making the biggest moves premarket: MMM, UTX, VZ, LLY & more
Check out the companies making headlines before the bell:
3M – The consumer and industrial products company earned an adjusted $2.59 per share, 1 cent a share above estimates. Revenue also beat forecasts and 3M raised its full-year forecast, saying it was seeing strength across all its businesses.
United Technologies – United Technologies reported adjusted quarterly profit of $1.97 per share, 11 cents a share above estimates. Revenue topped forecasts and United Technologies raised its full-year outlook.
Verizon – Verizon earned $1.20 per share for the second quarter, 6 cents a share above estimates. Revenue also exceeded forecasts, helped by growth in wireless subscriber numbers.
Eli Lilly – Eli Lilly earned an adjusted $1.50 per share for the second quarter, 20 cents a share above estimates. Revenue also beat forecasts, boosted by sales of its newer drugs. Separately, the company announced plans to separate its Elanco Animal Health unit, offering a stake of less than 20 percent in an initial public offering.
Harley-Davidson – The motorcycle maker beat estimates on both the top and bottom lines, on the strength of higher overseas sales. It was the sixth straight quarter that Harley topped estimates, but the company did warn about the impact of new European Union tariffs on its profit margins.
Alphabet – Alphabet reported adjusted quarterly profit of $11.75 per share, compared to the consensus Wall Street estimate of $9.59 a share. The Google parent’s revenue also came in above forecasts, rising 25 percent from a year earlier, helped by a 58 percent jump in paid clicks compared to the 49 percent expected by analysts.
Whirlpool – Whirlpool missed estimates by 49 cents a share, with adjusted quarterly profit of $3.20 per share. The appliance maker’s revenue was also shy of forecasts. Additionally, Whirlpool cut its full-year guidance, as it experiences higher costs and weakness in international markets.
TD Ameritrade – TD Ameritrade beat estimates by 9 cents a share, with adjusted quarterly profit of 89 cents per share. The online brokerage’s revenue also came in slightly above Street forecasts and the company reported a bigger-than-expected increase in client trading activity.
GlaxoSmithKline – The drugmaker reported upbeat study results for a two-drug HIV treatment, which worked as well as current standard therapy involving three drugs. The study showed the treatment equally as effective as the triple therapy even in patients with relatively high levels of the HIV virus.
Tesla — The cost to insure Tesla debt against possible default is at its second-highest level ever, according to The Wall Street Journal, with the cost of a credit default swap contract now at $5.96 per $100 dollars of the automaker’s debt.
UBS – UBS reported a better-than-expected 9.4 percent increase in net profit compared to a year earlier. However, analysts are noting that the Swiss bank did see weakness in its key wealth management unit.
Vitamin Shoppe – Vitamin Shoppe named Godiva Chocolatier executive Sharon Leite as its new Chief Executive Officer. Leite, who also worked at retailer Pier One for nearly 10 years, will join the health products retailer in late August.
Zions Bancorp – Zions earned 89 cents per share for the second quarter, falling 3 cents a share short of Street forecast. Revenue for the bank was in line with estimates, however. Zions noted competitive pressure in the commercial real estate market had led to additional runoff in its loan portfolio during the quarter.
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