Stocks making the biggest moves midday: Pentair, UPS & more

General Motors CEO Mary Barra talks to reporters while she awaits the arrival of President Joe Biden at media day at the North American International Auto Show on September 14, 2022 in Detroit, Michigan.

Rebecca Cook | reuters

Check out the companies making headlines in Tuesday afternoon trading.

General Motors — Shares of the automaker rose over 7% after the company crushed previous analyst estimates On the top and bottom for its fourth quarter. The company reported $2.12 per share of adjusted earnings on $43.11 billion in revenue. Analysts polled by Refinitiv were looking for $1.69 in earnings per share on $40.65 billion in revenue. The outperformance came despite lower profit margins year-on-year. GM also said it expected earnings to decline in 2023, but that guidance was still above analyst estimates.

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Kamla — Shares fell nearly 3% after Caterpillar reported a 29% drop in earnings. The construction machinery and equipment maker said higher manufacturing costs and foreign exchange impact weighed on its quarterly results.

of great quality — Shares of the entertainment giant fell 1% after Macquarie downgraded it from neutral to underperform, which cited its exposure to advertising. cnbc Reported On Monday, the company will integrate Showtime’s streaming service into its main streaming platform, Paramount+.

AO Smith Shares rose 9.6% after the construction company reported earnings per share of $0.86, beating consensus estimates. the company has defeat It has tripled EPS estimates in the last four quarters.

McDonald’s – Shares declined 2.60% after McDonald’s reported its latest quarterly results. Although the fast food company’s earnings and revenue beat expectations, management warning Rising cost pressures are likely to continue into 2023.

ups Shares of United Parcel Service soared 4% after the shipping and transportation giant posted earnings $3.62 per share, slightly ahead of the $3.59 expected by analysts polled by Refinitiv. UPS also raised its dividend and approved a new $5 billion stock repurchase plan.

Pulte Group — Shares of the homebuilder soared 9% in afternoon trading after the company reported better-than-expected fourth-quarter earnings. The company reported $3.63 in adjusted earnings per share on revenue of $5.17 billion, and its homebuilding gross margin expanded year over year.

international paper — Shares of the packaging and paper products company rose more than 8% after reporting fourth-quarter adjusted operating earnings of 87 cents per diluted share, topping StreetAccount’s estimate of 69 cents per diluted share. The international paper also gave guidance for fiscal 2023 to $2.8 billion, compared to an estimated $2.4 billion.

pentair — Shares of Pentair rose 6.7% after the water treatment company reported earnings that topped Wall Street’s estimates for earnings and revenue. The company also provided solid forward guidance for full-year 2023 earnings.

Lam Research Shares were up 2.3% after Citi Added a positive trigger clock on the semiconductor company and said it expects the stock to outperform.

— CNBC’s Samantha Subin, Alex Haring, Jesse Pound, Yoon Lee, Carmen Reinike, Michelle Fox Theobald and Hakyung Kim contributed reporting.

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