© Reuters.
Investing.com — U.S. stocks were trading higher Tuesday, as investors digest a deluge of corporate earnings ahead of a key Federal Reserve meeting.
Here are some of the biggest U.S. stock movers today:
- United Parcel Service Inc (NYSE:) shares rose 1.7% after news that the logistics and package delivery giant had reached a tentative agreement with its union, averting a strike with just days to go until the deadline.
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General Motors (NYSE:) stock fell 4% after the lifted its full-year profit guidance, in large part because it plans to invest less in new products and cut operating costs by an additional $1 billion through the end of next year.
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General Electric (NYSE:) stock rose 5.8% after the industrial conglomerate raised its full-year adjusted profit forecast, betting on steady demand for aircraft engine spare parts and services from airlines looking to cash in on surging air travel.
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Verizon (NYSE:) stock rose 1% after the telecoms giant a surprise rise in wireless subscriber additions as more users upgraded their mobile phones to access its 5G network.
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Goldman Sachs (NYSE:) stock was flat after Citigroup downgraded the investment bank to ‘Neutral’ from ‘Buy,’ saying its targets will take time to be achieved.
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3M (NYSE:) stock rose 4.8% after the industrial conglomerate lifted its full-year EPS guidance even after a quarterly loss as it took a hit from a $10.3B settlement related to water pollution claims.
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Logitech (NASDAQ:) stock rose 13% after the maker of computer mice and keyboards raised its sales and profit outlook for the first half of the financial year 2024.
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Biogen (NASDAQ:) stock fell 3.7% after the biotech said it expects to cut about 1,000 jobs, or about 11% of its workforce, to save costs as the company ramps up the launch of a new Alzheimer’s disease drug.
—Peter Nurse contributed to this report
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