General Motors’ stock rose by 4% after posting $2.62 per share on revenues of $43.01 billion for the first quarter. This performance exceeded analyst expectations, which were set at $2.15 per share on revenues of $41.92 billion. Additionally, GM raised its adjusted automotive free cash flow forecast to between $8.5 billion and $10.5 billion, surpassing the earlier range of $8 billion to $10 billion.
Shares of GE Aerospace gained more than 4% after the company reported earnings of 82 cents per share for the first quarter, with revenues of $16.1 billion. These figures outperformed analysts’ projections of 65 cents per share on revenues of $15.14 billion. The strong performance led to a positive market reaction.
UPS saw its stock decline by 0.8% as its first-quarter earnings exceeded estimates, but revenue fell short of forecasts due to muted demand for small-package delivery. Despite posting $1.43 adjusted earnings per share compared to the estimated $1.29, revenue did not meet market expectations. This discrepancy led to a slight drop in stock price.
Pepsico’s shares experienced a slight decrease despite reporting stronger-than-expected first-quarter results. The company announced $1.61 in adjusted earnings per share on $18.52 billion in revenue, surpassing analyst estimates of $1.52 per share on $18.07 billion of revenue. However, market response to the news was not as positive as anticipated.
U.S.-listed shares of Novartis surged by 5% after the Swiss drugmaker exceeded expectations for its first quarter and raised its full-year guidance. The upbeat performance in the pharmaceutical sector contributed to the positive market sentiment surrounding Novartis.
JetBlue Airways experienced a notable decline of 10.5% following the company’s announcement that current-quarter revenue is expected to drop more than analysts had anticipated. Despite meeting the LSEG consensus estimate for sales in the first quarter, JetBlue’s projected revenue decline led to a significant sell-off in its stock.
Cleveland-Cliffs’ stock slid by 2% after the steel producer’s first-quarter results fell short of analysts’ expectations. The company reported adjusted earnings of 18 cents per share on revenue of $5.2 billion, below the anticipated earnings of 22 cents per share and revenue of $5.35 billion. This underperformance led to a negative market reaction.
U.S.-listed shares of SAP rose nearly 4% following the company’s first-quarter revenue that exceeded expectations. Although adjusted earnings per share slightly missed the consensus estimate, SAP reaffirmed its full-year guidance, which was viewed positively by investors.
Shares of Nucor tumbled 7% after the steelmaker reported first-quarter earnings of $3.46 per share, below the $3.67 consensus estimate. Additionally, revenue was weaker than expected, prompting concerns about lower second-quarter earnings. This disappointing performance led to a significant decline in Nucor’s stock price.
Danaher’s stock surged by more than 8% after beating analysts’ expectations for its first-quarter results. The company reported adjusted earnings of $1.92 per share on revenue of $5.80 billion, surpassing the anticipated $1.72 per share on revenue of $5.62 billion. This strong performance generated positive market sentiment towards Danaher.
Lockheed Martin’s stock advanced by 1.5% following a top- and bottom-line beat in its first-quarter results. The company reported $6.39 earnings per share on $17.2 billion in revenue, exceeding analyst estimates. With growth across every segment, Lockheed Martin’s performance was well-received by investors.
Spotify’s shares rallied by 8.4% after the music streaming company’s first-quarter revenues surpassed analysts’ expectations. Reporting $3.64 billion in revenues compared to the $3.61 billion consensus estimate, Spotify’s strong performance led to a significant increase in its stock price.
Sherwin-Williams’ stock declined by 3.5% following its first-quarter earnings results. The company reported adjusted earnings per share of $2.17, missing the FactSet consensus estimate of $2.22. Additionally, revenue of $5.37 billion fell short of the expected $5.50 billion from analysts, leading to a negative market reaction.