GE, GM, RTX, Spotify, Alaska Air and extra stockbrokers – Barron’s

Markets closed greater on Tuesday because the Dow posted its twelfth day of positive aspects and a focus turned to the Federal Reserve.

Basic Electrical (ticker: GE) reported second-quarter adjusted earnings of 68 cents a share on gross sales of $15.9 billion, beating Wall Avenue estimates of earnings of 46 cents a share on gross sales of $14.8 billion. GE additionally raised full-year steerage, and the inventory rose 6.2%.

Basic Motors (GM) earned $1.91 per share on an adjusted foundation within the second quarter, beating analyst estimates. Income of $44.8 billion additionally beat forecasts of $42.1 billion. Nonetheless, shares of the automaker fell 3.5%.

RTX (RTX), previously Raytheon Applied sciences, fell 10% after the aerospace and protection firm lowered its full-year free money move expectations resulting from issues with some Pratt & Whitney jet engines. On Tuesday, it was the worst-performing firm within the S&P 500; Packaging Corp. of America (PKG) was the highest performer, up 10%.

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3M (MMM) rose 5.4% after the corporate delivered better-than-expected earnings and gross sales within the second quarter and raised its full-year outlook.

Spotify Know-how (SPOT) fell 14% even because the music-streaming service posted better-than-expected subscriber progress within the second quarter. It was the corporate’s greatest quarter for brand spanking new customers, however the inventory plummeted after income fell wanting forecasts.

Alaska Air (ALK) tumbled 9.7% after saying it anticipated slower income progress within the third quarter.

Sherwin-Williams

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(SHW) rose 2.9% after the paint maker upgraded its earnings outlook after report gross sales within the quarter.

F5 (FFIV), the cloud safety firm, reported third-quarter earnings of $3.21 on income of $702.6 million. Analysts had estimated earnings of $2.86 per share on gross sales of $698.9 million. Shares rose 5.8%.

Laptop peripherals maker Logitech Worldwide (LOGI) gained 14% after the inventory topped first-quarter earnings estimates and raised its steerage.

NXP Semiconductors

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(NXPI) beat analysts’ earnings and income expectations for the second quarter and the Dutch chipmaker forecast third-quarter earnings per share of $3.39 to $3.82 versus expectations of $3.44 per share. The inventory rose 4.3%.

Write to Joe Woelfel at [email protected]


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