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Stocks staged a rebound on Tuesday, and although intraday trading was uncertain at times, all three major indexes rose sharply in what felt like a much-needed return to the green. One positive on the day was impressive earnings results from key market bellwethers—a trend that today’s pre-market reporters hoped to mirror.
One notable stock moving after its before-the-bell report is General Motors (GM - Free Report) . The automotive major, which has struggled this year amid trade war headwinds, notched an impressive quarter.
Earnings per share topped out at $1.87, beating consensus estimates by over 40%. Quarterly revenues came in at $35.8 billion, improving about 6% from the year-ago period and also beating the Zacks Consensus Estimate of $34.2 billion.
GM delivered fewer cars in the U.S. and China during the quarter, but truck and SUV sales were robust. The higher price tag of these larger cars helped the company offset lower total deliveries. Moreover, management said it expects full-year earnings to come in at the high end of its guidance and potentially even higher.
Shares of GM rallied about 7% in early morning trading Wednesday. The stock was down roughly 18% on the year heading into the report.
Another early-morning mover today is Sprint (S - Free Report) , which reported adjusted earnings of $0.05 per share ahead of the bell today. That performance outpaced both the Zacks Consensus Estimate and the year ago quarter’s one-cent loss.
Sprint added 109,000 phone subscribers during the quarter, crushing Street estimates of 22,000 subscriber additions. The telecom giant is still awaiting regulatory approval for its merger with T-Mobile (TMUS - Free Report) , but shares were surging more than 10% shortly after markets opened thanks to its better-than-expected quarter.
Finally, investors should note the post-earnings momentum of Harsco in morning trading. The minerals and industrial company notched earnings of $0.40 per share, beating the Zacks Consensus Estimate by three cents and doubling up its year-ago quarter $0.20 performance.
Revenues at Harsco totaled $445.5 million in the quarter, just missing consensus estimates. However, strong margin improvement and upgraded guidance sent the stock soaring in early hours Wednesday. Shares were up nearly 15% as of this writing.
Positive pre-market earnings and excitement over the likes of Facebook from Tuesday afternoon helped lift major indexes on Wednesday morning. Strong opens have certainly not guaranteed green finish in recent weeks, but today’s trading is on pace to be encouraging.
3 Medical Stocks to Buy Now
The greatest discovery in this century of biology is now at the flashpoint between theory and realization. Billions of dollars in research have poured into it. Companies are already generating revenue, and cures for a variety of deadly diseases are in the pipeline.
So are big potential profits for early investors. Zacks has released an updated Special Report that explains this breakthrough and names the best 3 stocks to ride it.
Image: Bigstock
Stocks Surging After Earnings Today: GM, S, HSC
Stocks staged a rebound on Tuesday, and although intraday trading was uncertain at times, all three major indexes rose sharply in what felt like a much-needed return to the green. One positive on the day was impressive earnings results from key market bellwethers—a trend that today’s pre-market reporters hoped to mirror.
One notable stock moving after its before-the-bell report is General Motors (GM - Free Report) . The automotive major, which has struggled this year amid trade war headwinds, notched an impressive quarter.
Earnings per share topped out at $1.87, beating consensus estimates by over 40%. Quarterly revenues came in at $35.8 billion, improving about 6% from the year-ago period and also beating the Zacks Consensus Estimate of $34.2 billion.
GM delivered fewer cars in the U.S. and China during the quarter, but truck and SUV sales were robust. The higher price tag of these larger cars helped the company offset lower total deliveries. Moreover, management said it expects full-year earnings to come in at the high end of its guidance and potentially even higher.
Shares of GM rallied about 7% in early morning trading Wednesday. The stock was down roughly 18% on the year heading into the report.
Another early-morning mover today is Sprint (S - Free Report) , which reported adjusted earnings of $0.05 per share ahead of the bell today. That performance outpaced both the Zacks Consensus Estimate and the year ago quarter’s one-cent loss.
Sprint added 109,000 phone subscribers during the quarter, crushing Street estimates of 22,000 subscriber additions. The telecom giant is still awaiting regulatory approval for its merger with T-Mobile (TMUS - Free Report) , but shares were surging more than 10% shortly after markets opened thanks to its better-than-expected quarter.
Finally, investors should note the post-earnings momentum of Harsco in morning trading. The minerals and industrial company notched earnings of $0.40 per share, beating the Zacks Consensus Estimate by three cents and doubling up its year-ago quarter $0.20 performance.
Revenues at Harsco totaled $445.5 million in the quarter, just missing consensus estimates. However, strong margin improvement and upgraded guidance sent the stock soaring in early hours Wednesday. Shares were up nearly 15% as of this writing.
Positive pre-market earnings and excitement over the likes of Facebook from Tuesday afternoon helped lift major indexes on Wednesday morning. Strong opens have certainly not guaranteed green finish in recent weeks, but today’s trading is on pace to be encouraging.
3 Medical Stocks to Buy Now
The greatest discovery in this century of biology is now at the flashpoint between theory and realization. Billions of dollars in research have poured into it. Companies are already generating revenue, and cures for a variety of deadly diseases are in the pipeline.
So are big potential profits for early investors. Zacks has released an updated Special Report that explains this breakthrough and names the best 3 stocks to ride it.
See them today for free >>