IBM, Apple and Halliburton Rise Premarket; PPG Falls

Stocks in focus in premarket trade on Tuesday, July 20th. Please refresh for updates.

IBM (NYSE:IBM) stock rose 3.3% after the tech company reported better than expected second-quarter revenue growth after the close Monday, boosted by strong growth in its Cloud and consulting businesses.

Apple (NASDAQ:AAPL) stock rose 0.8% following a report in The Wall Street Journal that the iPhone maker is looking to expand its facilities in Los Angeles, as it strives to deepen its commitment to streaming content.

Travelers (NYSE:TRV) stock rose 0.2% after the insurer beat second-quarter profit expectations, helped by higher premiums, lower catastrophe losses and a surge in returns from investments.

Johnson & Johnson (NYSE:JNJ) stock rose 0.7%, AmerisourceBergen (NYSE:ABC) stock rose 4.8%, McKesson (NYSE:MCK) stock gained 5.1% and Cardinal Health (NYSE:CAH) stock climbed 5.1% following reports that these drugmakers are close to agreeing a $26 billion settlement of multiple lawsuits in various states which alleged they fueled the U.S. opioid crisis.

Halliburton (NYSE:HAL) stock rose 2.8% after the oilfield services provider reported a second-straight quarterly profit, as a rebound in crude prices from pandemic-lows buoyed demand.

Simon Property Group (NYSE:SPG) stock rose 1.9% after Stifel upgraded its investment recommendation to ‘buy’ from ‘hold’, saying that Monday’s selloff of almost 6% went too far and that investors should take advantage of a rebound.

Nasdaq (NASDAQ:NDAQ) stock rose 2.2% after the financial services group said Tuesday it was teaming up with some senior U.S. banks to create a separate trading venue for stocks of private companies.

Philip Morris (NYSE:PM) stock fell 0.5% after the tobacco giant missed expectations for its second-quarter revenue growth, but also authorized a new share repurchase scheme of up to $7 billion.

PPG Industries (NYSE:PPG) stock fell 6.4% after the paints supplier missed second-quarter earnings expectations and warned of rising costs during the current quarter.