Richard Drew
Stock futures fell in premarket trading Tuesday as investors prepared for earnings reports from major companies including Coca-Cola, General Motors, Tesla, Google and IBM.
Here are some of the most moving stocks on Tuesday:
Biggest Gainers in Stocks
- Crown Holding (New York:CCK) stocks rose About 6% After reporting mixed second-quarter results and raising its fiscal 2024 EPS outlook. The company reported strong results in its global beverage business, with beverage segment revenue improving 21% in the quarter. Beverage can shipments also improved, growing 6% globally, including 9% in North America. The company expects net leverage at the end of 2024 to be below 3.0x, with strong cash flow allowing for share repurchases and debt reduction toward a new long-term net leverage target of 2.5x. The company now expects full-year diluted EPS in the range of $6.00 to $6.25, beating previous guidance of $5.80 to $6.20 and analyst estimates of $5.97. Adjusted EPS for the third quarter is expected to be in the range of $1.75 to $1.85, compared to the consensus of $1.79.
- Mammoth Energy Services (NASDAQ: TUSC) Involved Up 25% After announcing that it will receive $188 million in proceeds from a settlement agreement with the Puerto Rico Electric Power Authority and the Puerto Rico Financial Oversight and Management Board, the company plans to use a portion of the proceeds to repay its term credit facility, which had a balance of $49.3 million as of June 30, with the remainder used for commercial and corporate purposes.
Biggest losers in stocks
- NXP Semiconductors (NYSE: NXP) sharesNASDAQ:NXPI) decreased by 7% After the company reported mixed second-quarter results and a disappointing third-quarter outlook, the company expects revenue between $3.15 billion and $3.35 billion, and earnings per share between $3.21 and $3.63, below the midpoint of consensus estimates of $3.35 billion and $3.56, respectively.
