Stocks making the biggest moves in premarket: McDonald’s, UPS and others

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Check out companies that make headlines before the call.

McDonald’s — Shares fell more than 1% after McDonald’s released its latest quarterly results. The fast food giant topped earnings and earnings estimates, saying customers are increasingly visiting its restaurants. Still, McDonald’s CEO Chris Kempchinski says he expects “Short-term inflationary pressures will continue into 2023.”

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General Motors — The automaker’s shares rose more than 5% in premarket trading after GM outperformed its fourth-quarter top and bottom line estimates, even as its profit margins narrowed. The company reported an adjusted $2.12 per share on revenue of $43.11 billion. Analysts polled by Refinitiv expected earnings of $1.69 per share on revenue of $40.65 billion. GM said it expects profits to fall in 2023, but the forecast is still above analysts’ estimates.

Ford — Ford shares rose 2% after the company announced a price cut for its Mach-E electric pickup truck on Monday. The company will report earnings later this week.

United Parcel Service – UPS shares rose 1.9% after the company reported earnings that beat analysts’ expectations. The company posted adjusted earnings per share of $3.62 on revenue of $27.08 billion. Analysts had forecast earnings of $3.59 per share and revenue of $28.09 billion, according to Refinitiv.

ExxonMobil — The oil giant was under pressure, despite the upbeat financial results for the last quarter. The company, whose share price rose more than 80% last year, has seen supply cuts as the economy began to recover, CEO Darren Woods said in a statement. Shares fell more than 1%.

Caterpillar — Caterpillar shares fell more than 2% after the industrial giant posted disappointing quarterly earnings. The company reported earnings of $3.86 per share, well below Refinitiv’s consensus estimate of $4.06 per share. Caterpillar said its net income was impacted by “an adverse foreign exchange impact on ME&T on other income (expenses) of $0.41 per share.”

pfizer – Shares of the vaccine maker fell more than 2% after the company reported mixed quarterly results and released full-year profit and revenue guidance that came in below analysts’ expectations, according to StreetAccount. Pfizer said it expects Comirnaty and Paxlovid revenues to fall 64% and 58%, respectively, from actual 2022 results.

International newspaper – The packaging and paper products company reported fourth-quarter adjusted operating income of 87 cents per diluted share, above StreetAccount’s estimate of 69 cents per diluted share. However, the company posted a net loss of $318 million for the quarter. International Paper almost 6% in premarket.

clear — Lucid shares fell 4.4%, cooling off even further after monster options fueled Friday’s rally.

PulteGroup The developer’s shares rose more than 1% in premarket trading after PulteGroup reported a better-than-expected fourth quarter. The company reported adjusted earnings of $3.63 per share on revenue of $5.17 billion. Wall Street analysts were expecting $2.93 in earnings per share on revenue of $4.58 billion, according to StreetAccount. PulteGroup’s gross profit in residential construction was up year-over-year.

– CNBC’s Fred Imbert, Jesse Pound, Tana Machil, Sara Min, Carmen Reinicke and Michelle Fox contributed reporting.

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