Stocks Making the Greatest Movements Premarket 01/31

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Last Updated on January 31, 2023 by Bitfinsider

GM — General Motors Shares of the carmaker climbed more than 5% in premarket trade after GM topped fourth-quarter top and bottom-line projections, despite a narrowing profit margin. On $43.11 billion in sales, the corporation reported an adjusted $2.12 per share. Refinitiv polled analysts predicted $1.69 profits per share on $40.65 billion in sales. GM said it expects profitability to dip in 2023, although its outlook was still higher than analyst expectations.

Ford — Ford shares gained 2% after the firm said Monday that it will reduce the price of its Mach-E electric pickup truck. The corporation will disclose profits later this week.

UPS — UPS shares increased 1.9% after the firm posted profits that above analyst estimates. On $27.08 billion in revenue, the business earned $3.62 per share in adjusted profits. According to Refinitiv, analysts expected profits per share of $3.59 and sales of $28.09 billion.

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