GM, Philip Morris, Lockheed Martin, Verizon, and More
- January 11, 2025

Key Takeaways
- Major U.S. indexes edged lower at midday Tuesday after a mixed set of corporate earnings reports.
- Lockheed Martin and Verizon Communications shares fell as both companies missed quarterly revenue forecasts.
- General Motors shares surged after the Big Three automaker reported results that beat estimates and raised its guidance.
Major U.S. indexes edged lower at midday Tuesday after a mixed set of corporate earnings reports. The Dow, S&P 500, and Nasdaq all lost ground.
Lockheed Martin ( LMT ) shares fell as the aerospace and defense contractor missed third-quarter revenue estimates on a slowdown in sales of its F-35 fighter jet.
Shares Verizon Communications ( VZ ) slipped after the telecom giant also posted lower-than-expected revenue as wireless equipment sales dropped.
Genuine Parts ( GPC ) shares plunged after the automotive parts dealer’s profit came short of forecasts and it slashed its guidance on sluggish industrial demand and weakness in the European market.
General Motors ( GM ) shares gained after the Big Three automaker reported results that beat estimates and boosted its outlook as it benefited from steady pricing and cost controls.
Philip Morris International ( PM ) shares gained as the tobacco company reported better-than-expected results and raised its guidance on strong demand for nicotine pouches.
German business software giant SAP’s ( ) results exceeded forecasts as well, sending its U.S.-listed shares to a record high .
Oil futures rose, and gold prices climbed to all-time highs. The yield on the 10-year Treasury note advanced. The U.S. dollar was up on the euro, pound, and yen. Most major cryptocurrencies traded lower.
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