By Anna Hirtenstein
These stocks are rallying after the market open:
PayPal (PYPL): The payment company's quarterly profit rose, boosted by higher revenue and payment volumes, and it raised its annual outlook.
Eli Lilly $(LLY)$: The pharmaceutical major raised its full-year guidance by $2 billion and said it would increase production of obesity and diabetes drugs.
3M $(MMM)$: The conglomerate's stock rallied after its adjusted quarterly earnings topped its own forecast. 3M plans to cut its dividend following its recent spinoff.
HSBC (UK: HSBA, HSBC): Shares of the major global bank rallied in London and the U.S. after its quarterly profit met expectations. It also said its chief executive was stepping down.
Coca-Cola $(KO)$: The beverages company posted higher earnings and sales for last quarter than expected, and bumped up its organic revenue forecast.
These stock are falling in early trading:
McDonalds $(MCD)$: The fast-food chain's quarterly adjusted earnings missed expectations; its revenue came in just ahead. The company said that consumers were tightening their spending.
MicroStrategy $(MSTR)$: The software company with substantial bitcoin holdings posted quarterly revenue and profit late Monday that disappointed investors.
Air Products & Chemicals $(APD)$: The provider of industrial gases and chemicals posted a decline in quarterly sales to $2.93 billion, missing analysts' expectations.
Stellantis (IT:STLAM, STLA): The Jeep maker's shares sold off in Europe after the company's quarterly revenue missed analysts' forecasts.
Tesla $(TSLA)$: The electric vehicle stock fell, having jumped 15% on Monday after Elon Musk won approval from China for Tesla's advanced driver-assistance service.
Paramount Global (PARA): The entertainment company is parting ways with its CEO. The news comes in the middle of its merger discussions with Skydance Media.
Walmart $(WMT)$****: The U.S.'s largest grocery chain is introducing a line of premium foods called Bettergoods this year, aiming to attract new, higher-income shoppers.
General Motors $(GM)$****: Goldman Sachs $(GS)$ is in talks to offload its GM credit-card program to Barclays (UK:BARC, BCS), the Journal reported.
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(END) Dow Jones Newswires
April 30, 2024 09:55 ET (13:55 GMT)
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