On this episode of Stock Movers:
- GE Aerospace (GE) is higher this morning after reaffirming its full-year financial outlook, expecting profit and sales to grow this year, driven by demand in the commercial business and cost control efforts. GE Aerospace shares had gained about 6.9% this year through Monday's close, and the company's adjusted first-quarter earnings were $1.49 a share, beating analyst estimates, with sales of $9 billion in line with estimates.
- 3M (MMM) are down in premarket trade after coining the phrase "tariff sensitivity." However, it is standing by its full-year financial guidance while acknowledging new risks from the unfolding trade war, compounding the challenges for Chief Executive Officer William Brown as he tries to turn around the sprawling manufacturer.
- Tesla (TSLA) shares are rebounding this morning after yesterday's slide. It comes ahead of a key earnings report, after Wedbush Securities analyst Dan Ives said Musk should step back from his government work and focus on Tesla, citing brand damage and a potential 15%-20% permanent demand destruction.
- Verizon (VZ) shares are lower after it reported a larger-than-expected decline in mobile-phone subscribers in the first quarter, losing 289,000 monthly phone subscribers due to heavy competition and lower spending by government agencies. The company's operating revenue increased to $33.5 billion, topping estimates, and adjusted earnings were in line with projections, with a reaffirmed guidance for 2% to 3.5% earnings growth this year.
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