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Biggest Stock Moves Before the Opening Bell: General Motors, 3M, Spotify, Verizon and More

Lanon Wee

. Investors were closely watching premarket trading to see which companies were making headlines. General Motors' stock rose by more than 1% as the automaker upgraded its full-year guidance and reported a year-over-year increase for its second-quarter results. 3M also boosted its premarket value by nearly 2% due to its higher-than-expected revenue and increased full-year earnings guidance. Xerox experienced a jump of 3.6% after its second-quarter earnings surpassed the forecast of analysts polled by FactSet. On the other hand, General Electric's shares rose by more than 4% when the conglomerate issued its own statement with better-than-expected earnings and raised its full-year profit guidance. Unfortunately, Danaher's stock briefly dropped by 4.6% after it offered a second-quarter report that was slightly below anticipated results. Spotify took a plunge of 6.1% after it revealed lower-than-expected revenue guidance. However, Lilium's stock rose by 5.6% following its letter to shareholders that revealed its success in the European Union Aviation Safety Agency audit. Alaska Air dipped more than 4% despite beating estimates for the second quarter. Conversely, RTX's shares dipped by 3% after providing a strong quarterly report, while Verizon's stock increased by 2.6% after reaffirming its full-year guidance. To round out the companies featured in the premarket, Walmart rose more than 1% after Piper Sandler upgraded the retailer and hiked its price target.

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