Check out the companies making headlines before the bell. Eli Lilly — Shares popped nearly 7% after the maker of the Mounjaro diabetes and weight loss drug reported first-quarter adjusted earnings of $2.58 per share, beating the consensus estimate of $2.46, according to LSEG. Eli Lilly also hiked its full-year guidance for adjusted earnings and revenue, topping analysts' expectations. 3M – Shares advanced 7.7% after the maker of industrial products posted earnings of $2.39 per share on revenues of $7.72 billion. That topped analysts' estimates of $2.10 per share on adjusted revenues of $7.63 billion, according to LSEG. 3M also said it will cut its dividend, which it had raised for 64 consecutive years , after spinning off its healthcare unit earlier this month. F5 — The cloud computing company slid 10% after F5 third-quarter revenue guidance of $675 million to $695 million threatened to miss analysts' consensus estimate of $695 million, according to LSEG. Meanwehile, second-quarter revenue missed analysts' estimates. expectations. Several brokers, including Goldman Sachs, lowered their price F5 share price targets in reaction. McDonald's — Shares dipped nearly 2% in premarket trading after the Chicago-based fast food chain missed analysts' quarterly earnings estimates as same-store sales fell short of expectations. Worldwide sales rose by 1.9% in the quarter, lower than the 2.1% growth expected by analysts, according to FactSet. Stellantis — Shares of the Jeep maker, formerly known as Chrysler, lost 3.6% after revenue came in lower than expected . First-quarter revenue at the Netherlands-based automaker slid 12% due to lower sales plus foreign exchange effects, even as net pricing remained strong. Coca-Cola -- The Atlanta-based soft drink maker dipped about 0.4% as first-quarter results came in slightly ahead of expectations. Coca-Cola reported 72 cents in adjusted earnings per share on $11.30 billion of revenue. Analysts surveyed by LSEG were looking for 70 cents per share on $11.01 billion of revenue. Increases in price and product mix were key drivers of revenue growth, Coke said. Tesla — The electric vehicle maker lost 1.9% in premarket trading one day after soaring 15.3% as some investors pocketed gains from Monday. Tesla jumped after winning approval from China to roll out its advanced driver-assistance service technology in the country. HSBC — HSBC, Europe's largest bank by assets, added 4.2% after the firm beat first-quarter earnings expectations and announced the departure of its Group Chief Executive Officer, Noel Quinn. HSBC's revenue for the period was $20.8 billion, up 3% from the same period a year ago and higher than analysts' forecast of $16.94 billion, according to LSEG. The bank also reiterated its 2024 financial guidance. GE Healthcare Technologies — Shares tumbled 8.1% after the medical device maker missed first-quarter revenue estimates due to weaker sales in China and lower imaging demand. GE HealthCare's total sales came in at $4.65 billion, falling short of LSEG estimates of $4.8 billion. PayPal — Shares climbed 5.1% after the financial payments company topped revenue expectations. PayPal saw first-quarter revenue of $7.7 billion, topping analysts' $7.51 billion consensus estimate, according to LSEG. — Our's Tanaya Macheel, Yun Li, Jesse Pound and Michelle Fox Theobald contributed reporting. Disclaimer: The copyright of this article belongs to the original author.
Reposting this
article is solely for the purpose of information dissemination and does not constitute any
investment advice. If there is any infringement, please contact us immediately. We will make
corrections or deletions as necessary. Thank you.