On this episode of Stock Movers:
- General Motors (GM) shares are lower after second-quarter profit fell as President Donald Trump’s tariffs on foreign-made vehicles and parts chopped $1.1 billion from adjusted earnings. TThe Detroit-based automaker said Tuesday it earned $2.53 per share on an adjusted basis, above the Bloomberg consensus forecast of $2.33 but short of the $3.06 it made a year ago.
- Coca Cola (KO) is higher on an earnings beat. Comparable EPS came in at $0.87 per share, compared to the estimated $0.83 per share. The company posted second-quarter sales growth that beat Wall Street expectations as consumers continue to pay higher prices for the company’s soft drinks.
- Northrop Grumman (NOC) shares are rising after it raised its earnings guidance for the full year after getting a boost from its Sentinel ballistic missile and B-21 bomber programs. TThe maker of the B-2 bomber that was used in the recent Iran campaign now predicts annual profit per share of $25.00 to $25.40. The company also narrowed its full-year revenue forecast to between $42.05 billion and $42.25 billion, according to a statement on Tuesday.
- RTX (RTX) shares are falling after missing on some headline earnings figures. RTX Corp cut its adjusted earnings per share guidance for the full year; the guidance missed the average analyst estimate.
- Opendoor Technologies (OPEN) is rising again premarket as the real estate buying Internet platform is serving as the latest surging meme stock. It soared as much as 121% on Monday, extending its rally from last week, as investors continued to pile into the stock that has found a sudden fandom among retail traders and social-media platforms.
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