By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Tuesday, July 26th. Please refresh for updates.
McDonald’s (NYSE: MCD ) stock rose 0.2% after the burger chain reported better-than-expected quarterly comparable sales, benefiting from steady online demand, new product launches, and higher prices.
Coca-Cola (NYSE: KO ) stock rose 1.3% after the soft drinks giant raised its full-year revenue growth forecast, as demand for its sodas held up despite price increases to blunt the impact of higher costs.
General Motors (NYSE: GM ) stock fell 1.6% after the auto giant said it was preparing for a potential economic slowdown by cutting spending and limiting hiring. That said, it reaffirmed its full-year profit outlook, citing an expected sharp pickup in demand.
Amazon (NASDAQ: AMZN ) stock fell 3.5% after the online retail giant said it will raise fees for its delivery and streaming service Prime in Europe by up to 43% a year as it moves to counter higher costs.
3M Company (NYSE: MMM ) stock rose 6.1% after the industrial giant announced plans to spin off its healthcare business and will retain a stake of 19.9% in the unit.
Whirlpool (NYSE: WHR ) stock rose 1.4% after the home appliances manufacturer cut its full-year earnings forecast less than feared despite the U.S. housing market softening.
Alibaba (NYSE: BABA ) ADRs rose 3.8% after the Chinese tech giant announced plans to apply for a primary listing in Hong Kong and keep its U.S. listing, the first big firm to take advantage of a rule change in the Asian financial hub.
Coinbase (NASDAQ: COIN ) stock fell 5.2% after Bloomberg reported that the U.S. Securities and Exchange Commission is investigating whether the crypto trading platform improperly let Americans trade digital assets that should have been registered as securities.
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