Take a look at some of the biggest movers in the premarket:
Facebook (FB) – Facebook gained 1.9% in the premarket after reporting mixed results for the second quarter. Facebook beat estimates by 3 cents per share with quarterly earnings of $ 3.22 per share. However, sales were missed as ad sales growth slowed amid Apple’s new privacy restrictions (AAPL).
General Electric (GE) – GE beat estimates by 14 cents per share, with quarterly earnings of 57 cents per share. However, sales remained below the forecasts of the analysts. The company also reported better-than-expected free cash flow. The share rose 1.4% in pre-trading.
Tesla (TSLA) – Tesla remains on guard after the company exceeded $ 1 trillion in trading on Monday. The stock has had a 10 session winning streak, but Tesla stock fell 0.4% in pre-trading hours.
Polaris (PII) – The recreational vehicle maker slumped 5.9% after the company lowered its full-year outlook due to supply chain constraints. Polaris was up on estimates with quarterly earnings of $ 1.98 per share. Sales fell short of consensus.
United Parcel Service (UPS) – UPS grew 5% in premarket after better than expected results. UPS reported quarterly earnings of $ 2.71 per share, 16 cents per share above estimates. Sales also exceeded forecasts due to strong e-commerce demand.
Corning (GLW) – The glass and specialty materials maker lost 3.4% in premarket after reporting that the slowdown in production in the automotive industry had impacted its quarterly results. Corning missed estimates by 2 cents per share, with quarterly earnings of 56 cents per share. Sales also missed the forecast.
Eli Lilly (LLY) – The drugmaker’s shares rose 1%, with earnings of $ 1.94 per share, despite a quarterly loss of earnings of 4 cents per share. Revenue beat forecasts, but Lilly spent more money on research and development in the quarter. The company also raised its outlook for the full year.
3M (MMM) – 3M reported quarterly earnings of $ 2.45 per share, compared to a consensus estimate of $ 2.20 per share. Sales exceeded Street forecasts. 3M saw increased demand in both the consumer and industrial sectors during the quarter.
Hasbro (HAS) – Hasbro beat consensus forecasts by 27 cents per share with quarterly earnings of $ 1.96 per share. The toy manufacturer’s sales corresponded to the forecasts of the analysts. Hasbro warned that supply chain bottlenecks would affect Christmas sales.
The RealReal (REAL) – The online seller of second-hand luxury goods saw the premarket jump 4.8% after Raymond James upgraded shares from “market performance” to “outperformance”. Raymond James cites short-term earnings strength and the prospect of profitability growth.
Coinbase (COIN) – The cryptocurrency exchange operator gained 2% in pre-trading after Citi began reporting the stock with a “buy / high risk” rating. Citi said the risk arises from exposure to the volatile crypto market, but said the company will benefit from increased adoption.