All three major US stock indexes were up in late-morning trading Tuesday, as oil prices were down, boosting investor sentiment.
In company news, Salesforce (CRM) has entered into a definitive agreement to acquire Braze (BRZE) for an enterprise value of about $5.66 billion. Under the terms of the agreement, shareholders of Braze Class A common stock will receive $47.50 in cash per share. The deal is expected to close in fiscal year 2028. Salesforce shares were down 1.3% around midday, while Braze shares were up 50.9%.
General Motors (GM) reported Q3 adjusted earnings Tuesday of $3.70 per diluted share, up from $2.80 a year earlier and above the FactSet consensus analyst estimate of $3.69. Third-quarter revenue was $50.02 billion, up from $48.59 billion a year ago and above the FactSet consensus of $48.78 billion. For 2026, the company narrowed its adjusted EPS guidance to a range of $12.75 to $13.75 from $12 to $14. Analysts expect $13.47. Meanwhile, General Motors completed its $6 billion share repurchase program announced in January, and its board has approved a new $20 million multi-year buyback plan. GM shares were down 6.5%.
GE Aerospace (GE) reported Q3 EPS Tuesday of $2.25, up from $1.66 a year earlier and above the FactSet consensus of $2.01. Third-quarter revenue was $14.12 billion, up from $12.18 billion a year ago and above the FactSet consensus of $12.88 billion. The company raised its adjusted EPS guidance to between $8 and $8.10 from its previous forecast of $7.65 to $7.85. Analysts expect $7.94. GE shares were down 4.3%.
Amazon.com (AMZN) said Tuesday it's hiring over 300,000 people for seasonal, part-time and full-time work across the US during the holiday season. Starting on Jan. 1, 2027, seasonal workers will earn $20 per hour on average, the company said. Staff who work at least 30 hours per week will have access to healthcare coverage, it said. For full-time employees wages will start at $20 per hour and reach an average of nearly $24 per hour, the company said. Amazon shares were up 0.4%.
3M (MMM) reported Q3 adjusted EPS Tuesday of $2.50, up from $2.23 a year earlier and above the FactSet consensus of $2.38. Net Q3 sales were $6.58 billion, up from $6.52 billion a year ago but below the FactSet consensus of $6.61 billion. For 202, the company expects adjusted EPS of $9.10 to $9.15, up from its previous guidance of $8.80 to $8.95 and above the FactSet consensus of $8.94. 3M shares were up 5.2%.
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