Stocks making the biggest moves in the premarket: 3M, Johnson & Johnson, General Electric and more
Take a look at some of the biggest movers in the premarket:
3M (MMM) – 3M rose 1.9% in the premarket after reporting quarterly earnings of $2.31 per share, 30 cents a share above estimates. Revenue also topped estimates, and 3M said its business improved during December as supply chain issues, omicron and other concerns abated.
Johnson & Johnson (JNJ) – Johnson & Johnson beat estimates by a penny a share, with quarterly earnings of $2.13 per share. The company gave an upbeat full-year forecast, however fourth-quarter revenue came in below analysts' forecasts. Its shares fell 1.6% in premarket trading.
General Electric (GE) – GE slid 2.8% in premarket action as fourth-quarter revenue fell below Street forecasts. Quarterly earnings came in at 92 cents a share, compared to a consensus estimate of 85 cents a share. The company also forecast improved cash flow for 2022.
American Express (AXP) – Record card spending helped American Express report better-than-expected profit and revenue for the fourth quarter. Earnings came in at $2.18 per share, well above the $1.87 a share consensus estimate.
Polaris Industries (PII) – The recreational vehicle maker beat estimates by 13 cents a share, with quarterly profit of $2.16 per share. Revenue also topped consensus. Profit was lower than a year ago as Polaris dealt with higher costs for components and logistics.
IBM (IBM) – IBM beat estimates by 5 cents a share, with quarterly profit of $3.35 per share. Revenue also beat estimates on strength in IBM's cloud computing business. IBM shares experienced some volatility in after-hours trading after the company declined to give an earnings forecast, but shares recovered to gain 1.5% in premarket trading.
Ericsson (ERIC) – Ericsson reported
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