Take a look at some of the biggest movers in the premarket:
3M (MMM) – 3M rose 1.9% in the premarket after reporting quarterly earnings of $2.31 per share, 30 cents a share above estimates. Revenue also topped estimates, and 3M said its business improved during December as supply chain issues, omicron and other concerns abated.
Johnson & Johnson (JNJ) – Johnson & Johnson beat estimates by a penny a share, with quarterly earnings of $2.13 per share. The company gave an upbeat full-year forecast, however fourth-quarter revenue came in below analysts’ forecasts. Its shares fell 1.6% in premarket trading.
General Electric (GE) – GE slid 2.8% in premarket action as fourth-quarter revenue fell below Street forecasts. Quarterly earnings came in at 92 cents a share, compared to a consensus estimate of 85 cents a share. The company also forecast improved cash flow for 2022.
American Express (AXP) – Record card spending helped American Express report better-than-expected profit and revenue for the fourth quarter. Earnings came in at $2.18 per share, well above the $1.87 a share consensus estimate.
Polaris Industries (PII) – The recreational vehicle maker beat estimates by 13 cents a share, with quarterly profit of $2.16 per share. Revenue also topped consensus. Profit was lower than a year ago as Polaris dealt with higher costs for components and logistics.
IBM (IBM) – IBM beat estimates by 5 cents a share, with quarterly profit of $3.35 per share. Revenue also beat estimates on strength in IBM’s cloud computing business. IBM shares experienced some volatility in after-hours trading after the company declined to give an earnings forecast, but shares recovered to gain 1.5% in premarket trading.
Ericsson (ERIC) – Ericsson reported better-than-expected quarterly earnings, with the Swedish telecom equipment maker benefiting from the accelerating rollout of 5G networks around the world. Shares surged 5.5% in the premarket.
Logitech (LOGI) – Logitech sales fell 2% for its latest quarter, with the maker of computer peripheral equipment facing tough comparisons to elevated pandemic-induced demand a year ago. Logitech raised its sales forecast for the current quarter, however, and its shares jumped 4.5% in premarket trading.
PetMed Express (PETS) – PetMed Express fell 9 cents a share shy of consensus estimates, with quarterly profit of 21 cents per share. The pet products seller’s revenue also came in short of analysts’ forecasts. The stock dropped 2.7% in the premarket.
Zions Bancorporation (ZION) – Zions shares rose 1.1% in the premarket after beating top and bottom line estimates for its latest quarter. It’s the latest in a series of upbeat reports from regional banks.
Allscripts Healthcare Solutions (MDRX) – Allscripts issued preliminary quarterly earnings and revenue numbers that exceeded Wall Street forecasts. The provider of physician practice management technology also announced a new $250 million share repurchase program. The stock surged 8.6% in premarket action.
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