Finance

Stocks making the biggest moves premarket: UnitedHealth, TSMC, GE Aerospace, J.B. Hunt &

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Check out the companies making the biggest moves in premarket trading: UnitedHealth — Shares rose more than 7% in early trading after the health insurance giant posted b etter-than-expected results for the second quarter. The company earned an adjusted $6.38 per share on revenue of $112.03 billion. Analysts polled by LSEG expected a profit of $4.90 per share on revenue of $110.85 billion. UnitedHealth also hiked its full-year earnings outlook. Taiwan Semiconductor Manufacturing — The chipmaker shed 4%. While TSMC’s second-quarter earnings beat estimates, it raised its full-year capital expenditures to between $60 billion and $64 billion versus its prior guidance of high end of the range $52 billion to $56 billion. The company also announced it will invest an additional $100 billion in Arizona. AtaiBeckley — The psychedelic drugmaker jumped 34.5% after Eli Lilly said it will buy it for $2.8 billion . That translates to $6.75 per share in cash, which is 26% higher than AtaiBeckley’s Wednesday close of $5.36 per share. Eli Lilly could pay up to an additional $2.50 per share if AtaiBeckley’s drugs meet certain milestones. Shares of Eli Lilly were up fractionally. GE Aerospace — Shares dropped 4% despite the company’s second-quarter earnings and revenue beat. GE Aerospace reported adjusted earnings of $2.02 per share on revenue of $12.63 billion. Analysts polled by LSEG had expected EPS of $1.86 on revenue of $11.86 billion. The company also raised its full-year guidance. United Airlines — Shares fell more than 3% despite the airline topping earnings estimates . The company issued softer-than-expected guidance of $2.50 to $3.50 per share for the third quarter, versus FactSet estimates of $3.53 per share. United also said it expects $6 billion in added fuel costs. J.B. Hunt Transport Services — The stock jumped nearly 7% after the company reported earnings per share of $1.73, beating analyst estimates by 18 cents per share, according to LSEG. Revenue of $3.5 billion was in line with estimates of $3.25 billion. Management said demand for the intermodal service increased throughout the quarter. AeroVironment — Shares rose nearly 2% following an upgrade at Raymond James to outperform from market perform. The firm said AeroVironment’s bookings are recovering and its backlog is poised to grow. Rocket Companies — The fintech platform added 2% after Morgan Stanley raised its price target on the stock to $19 and reiterated its buy rating. The new target suggests 30% upside from Wednesday’s close. — CNBC’s Fred Imbert and Tanaya Macheel contributed reporting.

This article was originally published by a Cnbc.com. Read the Original article here. .

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