Tesla, GE and F5 Networks Rise Premarket; UPS Falls

Stocks in focus in premarket trade on Tuesday, July 27th. Please refresh for updates.

Tesla (NASDAQ:TSLA) stock rose 1.4% after the electric car manufacturer reported quarterly net income of more than $1 billion for the first time even after taking an impairment of $23 million on account of its bitcoin holdings.

General Electric (NYSE:GE) stock rose 4.1% after the industrial conglomerate lifted its free cash flow forecast for the year after reporting positive cash flow in the second quarter. The result was helped by a nascent recovery in its aviation business, which revolves largely around the servicing and delivery of aero engines.

Raytheon (NYSE:RTN) Technologies (NYSE:RTX) stock rose 1.7% after the aerospace and defense company also profited from the recovery of the commercial air travel market.
United Parcel Service (NYSE:UPS) stock fell 2.4% despite the delivery service beating expectations with its second quarter, helped by its e-commerce deliveries, air shipments and specialized handling of healthcare products such as Covid-19 vaccines.

3M Company (NYSE:MMM) stock rose 0.8% after the maker of N95 face masks and Scotch-Brite home care products posted a strong rise in quarterly profit and raised its full-year sales and profit outlook.

Alibaba (NYSE:BABA) stock fell 3.3% and Baidu (NASDAQ:BIDU) stock dropped 4.2% as U.S.-listed Chinese stocks extended their declines on fear that the Chinese regulatory clampdown still has further to run.

F5 Networks (NASDAQ:FFIV) stock rose 7.1% after the software company beat expectations with its third-quarter earnings after the close Monday.

Advance Auto Parts (NYSE:AAP) stock rose 2.4% after Raymond James upgraded its stance on the company to ‘strong buy’ from ‘outperform’, saying the stock can rise a further 17%.