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.
- 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.
- NXP Semiconductors (NXPI) shares are sliding after the chipmaker's third-quarter forecast was less bullish than some investors had anticipated. The company's outlook suggests it is still contending with a turbulent industry, particularly in the automotive sector, which accounts for more than half of its revenue.
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