Here’s a look at some of the stocks the Yahoo Finance team will be tracking for you today.
General Motors (GM) shares are lower this morning. The carmaker coming up short on both its top and bottom lines in the first quarter. GM feeling the effects of the strong dollar, a restructuring of its operations in Russia and an adjustment in its estimate of how much it will cost to compensate victims for faulty ignition switches. Those bad switches are blamed for crashes that caused at least 87 deaths.
Caterpillar (CAT) shares are soaring in early trading.The heavy machinery maker slightly raised its earnings per share outlook for the year after earnings and revenue came in well above estimates for the first quarter thanks to cost cutting and as it saw sales improve in North America.
3M (MMM) shares are falling before the bell. The maker of Post-it notes and other industrial products cut its outlook for the year as the stronger dollar dragged down sales in the first quarter. Revenue and earnings missed estimates with sales down 3% from a year earlier.
Procter & Gamble (PG) shares are down in early trading. The consumer products giant posting quarterly earnings in line with expectations. But revenue came up short. P& G blames the strong dollar and warns foreign exchange rates will continue to be a drag on both sales and profit this year.
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PepsiCo (PEP) shares are also on the move ahead of the open. The beverage and food company posting better-than-expected earnings and revenue in the first quarter as it benefited from cost cutting and growth in its Frito Lay division. But the company warned that a stronger dollar would weigh on its earnings per share this year more than it previously expected.
Facebook (FB) shares are lower in early trading. The social networking giant reporting revenue slowed in the first quarter, slightly missing estimates as the stronger dollar hurt ad sales. Although adjusted earnings per share topped forecasts, spending on research and development took a toll on profits, which fell 20% from a year earlier. But Facebook did see monthly active users jump 13% to 1.44 billion.
