General Electric Company (NYSE:GE) shares surged in pre-market trade in New York as the conglomerate posted better than expected revenue in the latest quarter .
The top line for the three months came in at $33.28 billion compared to $32.6 billion, which had been expected by analysts. EPS (earnings per share) came in at $0.17 per share, compared to $0.22 a share, which had been expected. The company, which has been under pressure, spun off several businesses last year to generate cash and shrink its footprint.
The stock added 6.9% to $9.10 in pre-market, having gained 2.3% yesterday.
Visa Inc (NYSE:V) shares lost momentum in New York after it beat scribes' estimates for its quarterly profit as the credit card giant processed more transactions due to higher consumer spending during the holiday season. Not including special items, Visa earned $1.30 per share, which beat consensus estimates of $1.25. Net revenue rose 13.24 percent to $5.51 billion in the quarter. Payments volume grew 11% year-over year, while processed transactions were up 11%.
The shares shed 1.9% to $135 each.
United Parcel Service Inc (NYSE:UPS) shares delivered in pre-market trade as the firm beat on its latest quarterly profit, as the company reportedly benefited from record volumes during the key holiday season. UPS earned $1.94 per share on an adjusted basis, which was above analysts’ expectations of $1.90 per share.
Shares of the world’s biggest package delivery company added 4.9% to $106.
United States Steel Corp (NYSE:X) shares lost ground in pre-market as the integrated steel producer headquartered in Pittsburgh, posted quarterly earnings of $1.82 per share, which was below the consensus estimate of $1.88 per share. That compared to earnings of $0.76 per share a year ago. It comes despite the steel group receiving a boost from President Trump's tariffs on foreign steel and aluminum imports. Domestic steelmakers have benefited from the tariffs as it has decreased competition and allowed them to lift prices.
The stock added 3.9% to stand at $21.35.