Check out the companies making headlines before the bell. General Motors – Shares of General Motors rose more than 1% premarket after the automaker reported third-quarter earnings and sales that beat analysts’ expectations. However, GM withdrew its full-year outlook, citing rising costs caused by strikes by the United Auto Workers union. Spotify – Shares fell 2.5% in early morning trading despite Spotify’s third-quarter earnings beating expectations. Revenue was in line with estimates, and the streaming giant said it expects total monthly active users to top 600 million in the fourth quarter. Bank of America called the stock’s decline “surprising.” Coca-Cola – Coca-Cola reported third-quarter adjusted earnings of 74 cents per share on revenue of $11.91 billion. Analysts polled by LSEG expected profit of 69 cents per share on revenue of $11.44 billion. The company also raised its outlook as volumes grow despite higher prices. Shares rose more than 2.3%. DraftKings – Shares rose 3.5% after MoffettNathanson upgraded the stock to “Buy” from “Neutral” and raised his price target. He found that DraftKings’ expenses were better than expected and revenue continued to be better. General Electric – Shares rose 5.4% in early morning trading after the company’s third-quarter earnings and sales beat Wall Street expectations. The company also raised its full-year guidance due to increased demand in its aerospace business. 3M – The stock rose nearly 4% after 3M raised its profit forecast following a stronger-than-expected quarter with strong margins and cash flow. The company increased its full-year adjusted profit and reported success in its restructuring and expense control efforts. Monster Beverage – Monster Beverage fell about 1% in premarket trading. Piper Sandler downgraded the beverage stock to “Neutral” from “Overweight” and said the outlook for the stock is weaker. Barclays – U.S.-listed shares fell more than 5% after the British bank reported a 16% drop in third-quarter profit due to lower investment banking revenue. Investors also weighed the prospect of cost measures and margin pressures. The stock lost about 6.3%. Alphabet – Shares of the technology giant rose 1.1% ahead of the company’s post-market earnings announcement. RTX – The aerospace and defense company rose 8.1% after reporting higher-than-expected earnings and revenue compared to LSEG forecasts. According to LSEG, RTX reported earnings per share of $1.25 on quarterly revenue of $18.95 billion, while analysts reported earnings per share of $1.21 on revenue of $18.59 billion. Dollars expected. Amazon – The e-retailer rose 1.3% after Morgan Stanley listed Amazon as a top stock heading into earnings season. The company pointed to expectations of strong upward revisions to future EBIT estimates, as well as stable AWS growth and an attractive stock valuation as near-term catalysts for Amazon. —CNBC’s Hakyung Kim and Sarah Min contributed reporting.
