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Walmart, Coinbase, Amazon Fall Premarket; GE, Coca-Cola, 3M Rise

Published 07/26/2022, 07:33 AM
Updated 07/26/2022, 07:33 AM

By Peter Nurse

Investing.com -- Stocks in focus in premarket trade on Tuesday, July 26th. Please refresh for updates.

  • 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.

  • General Electric (NYSE:GE) stock rose 3.9% after the industrial conglomerate beat second quarter expectations, helped by rebounding aerospace demand.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

Latest comments

Narative "earnigs are not so bad as expected" is getting firs punch. Lets see GDP and FED rates
Here comes the narrative to "shrug off" poor earnings.  "Don't pay attention to current earnings, but rather focus on the forecast."  Sure, I won't pay my mortgage for 6 months, but I'll be back on track in month 7.  What a joke.  This market, and everything even remotely associated it with it, is a drama filled JOKE.
Filthy, Dirty, Putrid COIN got Their hand Caught in the Cookie jar... One too many TImes. Serves Them Right, now all the Regulators are Descending on Their SCHAMM Of a Business. They are Learning what Institutional Investors Have Known All along....it's a DIRTY Company, With lots of Dishonest business Practices... like 'NEVER' Giving you the price you were 'Supposed' to Get, on the Order Screen. Always. They are the Epitome of DISHONESTY
I've never bothered with Crypto. The conventional methods of being screwed are fine for me, like when the market starts a free fall and my trading page locks up and won't let me sell my puts.
Agreed. Their fees have been totally ludicrous in the past and customer service is abhorrent.
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