Stocks making the biggest moves premarket: Spotify, RTX, Coca-Cola and more

by | Oct 24, 2023 | Financial

Check out the companies making headlines before the bell. General Motors — General Motors shares were up more than 1% in the premarket after the automaker posted third-quarter earnings and revenue that beat analyst expectations. That said, GM did pull its full-year outlook, citing rising costs from the United Auto Workers union strikes. Spotify — Shares shed 2.5% in early morning trading, despite Spotify’s third-quarter earnings topping expectations. Revenue matched estimates, and the streaming giant said it expects total monthly active users to top 600 million in the fourth quarter. Bank of America called the stock’s fall “surprising.” Coca-Cola — Coca-Cola reported adjusted third-quarter earnings of 74 cents per share on revenue of $11.91 billion. Analysts polled by LSEG expected a profit of 69 cents per share on revenue of $11.44 billion. The company also raised its outlook, as volume grows despite higher prices. Shares were up more than 2.3%. DraftKings — Shares jumped 3.5% after MoffettNathanson upgraded the stock to buy from neutral and raised its price target, noting that DraftKings’ expenses are better than expected and that revenue continues to outperform. General Electric — Shares jumped 5.4% in early morning trading after the company’s earnings and revenue for the third quarter came out higher than Wall Street’s expectations. The company also lifted its full-year guidance on incr …

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