General Electric, Johnson & Johnson - Tuesday's Premarket Movers
Stock futures moved mostly higher Tuesday following solid earnings reports from Johnson & Johnson, 3M and General Electric.
Here are some of the top movers during premarket trading on Tuesday.
1. General Electric GE | Up 9.5%
Shares of General Electric (GE) - Get Report jumped as the group posted weaker-than-expected fourth-quarter earnings and forecast industrial cash flow of $2.5 billion to $4.5 billion this year.
“As 2020 progressed, we significantly improved GE's profitability and cash performance despite a still-difficult macro environment," Chief Executive Larry Culp said in a statement. "The fourth quarter marked a strong free cash flow finish to a challenging year, reflecting the results of better operations as well as strong and improving orders in power and renewable energy."
2. Johnson & Johnson JNJ | Up 1.8%
Shares of Johnson & Johnson (JNJ) - Get Report traded higher Tuesday after the health-care giant posted fourth-quarter earnings that beat expectations. J&J expects to report vaccine results next week. "We're optimistic. We think we're going to have a very robust data set," Chief Financial Officer Joseph Wolk told CNBC.
Johnson & Johnson earned $1.86 a share. Revenue rose 8.3% to $22.5 billion from $20.7 billion in the year-earlier period.
3. American Express AXP | Down 1.5%
Shares of American Express (AXP) - Get Report fell Tuesday after the financial-services group reported declines in fourth-quarter earnings and revenue. The company posted earnings of $1.4 billion, or $1.76 a share, down from $1.7 billion, or $2.03, a year earlier. Revenue fell to $9.35 billion from $11.36 billion.
4. Eli Lilly LLY | Up 0.8%
Shares of Eli Lilly (LLY) - Get Report rose on Tuesday after the health-care giant said that its developing coronavirus treatment significantly reduced hospitalizations and fatalities for high-risk patients in late-stage trials.
5. BlackBerry BB | Up 6.9%
Shares of Blackberry (BB) - Get Report rose 6% premarket after the security-software and -services provider unveiled an expanded partnership with Chinese tech giant Baidu (BIDU) - Get Report to map software used in Baidu's automatic driving technology.
