(Updated – April 23, 2024 11:45 AM EDT)
Investing.com — Main U.S. indexes climbed Tuesday ahead of earnings reports from megacap tech companies later this week.
Here are some of the biggest premarket U.S. stock movers today:
Apple (NASDAQ:AAPL) stock rose 0.3% despite news that iPhone sales in China plummeted by 19% during the March quarter, according to data from Counterpoint Research, marking the device's poorest performance in the region since the onset of Covid around 2020.
Amazon (NASDAQ:AMZN) stock rose 0.5% after the e-commerce giant launched a new grocery delivery subscription in the United States for members of its Prime program and customers who are recipients of the government food assistance benefits.
General Motors (NYSE:GM) stock rose 4.3% after the auto giant reported a robust first quarter in 2024, with earnings and revenue surpassing expectations and the company raising its full-year guidance.
PepsiCo (NASDAQ:PEP) stock fell 2.25% despite the soft drinks giant beating quarterly earnings and revenue expectations, despite a recall of some Quaker Foods cereal and bars that dented U.S. volumes.
United Parcel (NYSE:UPS) Service (UPS) stock rose 2.4% after the delivery firm reported first-quarter profit above estimates as cost cuts partly offset subdued demand for small-package delivery.
JetBlue (JBLU) stock fell 17% after the low-cost airline lowered its 2024 revenue forecast, adding second-quarter revenue would likely drop as much as 10.5% on the year.
Spotify (NYSE:SPOT) stock soared 15% after the music streaming company reported its gross profit crossed E1 billion in a quarter for the first time, despite quarterly monthly active users coming in below estimates.
3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads.Affirm (AFRM) stock rose 2%, with the fintech lender starting to offer "buy now, pay later" loans for elective medical procedures, in a major push beyond its core e-commerce market.
Cadence Design (NASDAQ:CDNS) stock fell 2.3% after the chip design software maker forecast second-quarter revenue below expectations.
Roblox (RBLX) stock rose 5% after JPMorgan upgraded its stance on the gaming platform to ‘overweight’ from ‘neutral’, citing significant monetization opportunities.
Nucor (NYSE:NUE) fell 7% after the steel company reported lackluster earnings in the first quarter of 2024 and said second quarter earnings will decrease.
MSCI (MSCI) fell 13%, its biggest drop in a year, after its revenue and missed estimates.
Sherwin-Williams (NYSE:SHW) fell 3.5% after it published disappointing results and guidance.
Kimberly-Clark (NYSE:KMB) rose 5% after the consumer products company easily beating consensus estimates for first quarter EPS and revenue, with strong organic growth.
Danaher (NYSE:DHR) rose 7% after improving order growth drove a beat on the top and bottom line.
Additional reporting by Louis Juricic
