The Coca-Cola Company (NYSE:KO) (NYSE:KO), up 3% to $55.70, raised its revenue and earnings outlook after rising prices drove a strong third quarter. The Atlanta, Georgia-based soft drinks maker said net revenue in the quarter ended September grew 8% to $12.0 billion, and organic revenue grew 11%.
Revenue performance included 9% growth in price/mix and 2% growth in concentrate sales, the firm said. Read more
General Electric (NYSE:GE), up 6.4% to $113.55, raised its 2023 outlook for profit and cash flow as it prepares to complete its three-way demerger in the first half of next year. The conglomerate said revenue in the three months to September 30 soared 20% to $17.35 billion from $14.47 billion the year before. Read more
Halliburton Company (NYSE:HAL) stock traded down around 3.2% in Tuesday’s early deals, to $40.31, after quarterly earnings came in shy of Wall Street forecasts. The oil services firm reported $716 million of net income, or 79 cents per share, up from $544 million (60 cents) last year, and, better than the 77 cents forecast by analysts.
Revenue was marked at $5.804 billion versus a consensus prediction of $5.848 billion. It comes as revenue from North America lowered by 1% to $2.6 billion and international revenue was up 17% to $3.19 billion. Read more
RTX Group (NYSE:RTX), up 6.8% to $78.14, reported robust quarterly earnings, driven by its Collins Aerospace unit, which overshadowed challenges at its Pratt and Whitney division. Despite the jet turbine maker recording a $2.48 billion operating loss linked to engine recalls, RTX's Collins Aerospace saw a 22% profit increase, reaching $903 million. Read more
Shares of 3M Co (NYSE:MMM), up 4.8% to $89.62, updated its annual adjusted profit projections and posted quarterly earnings that surpassed expectations. Despite facing a dip in demand, the Post-It Notes and Scotch Tape maker was successful in maintaining its financial position through strategic price increases and cost management initiatives, including workforce reductions. Read more
Verizon Communications Inc. (NYSE:VZ), up 8.5% to $34.06, notched up a fourth successive quarter of broadband customer additions of more than 400,000 in the third quarter although revenue and net income fell back. The Delaware-based telco said the company's performance was highlighted by continued wireless service revenue growth, total broadband net additions, and improving profitability. Read more
Spotify Technology SA (NYSE:SPOT) jumped more than 9%, to $169.25, on positive third-quarter financials. The Swedish music and podcast streamer reported operating income of €32 million, beating forecasts of a €45 million loss, from €3.4 billion of revenue for the three-month period versus expectations pitched at €3.3 billion Read more
Coinbase Global Inc (NASDAQ:COIN), up 9.3% to $84.42, continues to rally driven by the quick uptick in Bitcoin this week amid a building hype around ‘spot’ ETF approval – as Grayscale won another round in its ongoing battle with the US Securities and Exchange Commission (SEC). Read more
Logitech International SA (USA) (NASDAQ:LOGI), up 12.5% to $76.90, traded strongly thanks to “expectation smashing” earnings that came in at $1.09 per share versus a Wall Street forecast of 59 cents, despite sales dropping 8%. Whilst weaker in year-over-year terms, at $1.06 billion the sales number was still comfortably ahead of the $978 million. Read more
Redfin Corp (NASDAQ:RDFN), up 6.4% to $5.42, was boosted as the real estate broker caught a $250 million funding lifeline from private equity firm Apollo Global Management.
Ascent Solar Technologies, Inc. (NASDAQ:ASTI) was up 56% at $1.53, after an endorsement from the US Department of Energy which issued am “encouraged” notice that gives the solar film firm sufficient confidence to make a full application for its project.
Time will tell whether it’s a mere ‘dead cat’ bounce for the renewable stock that’s otherwise down more than 99% in 2023 to date.
--Updates with share price at midday Tuesday--