From Nasdaq, Inc.:

The Dow, S&P 500, and Nasdaq are all down pre-market, but General Motors ($GM) stands out with a 7% surge on its Q4 report. Earnings of $1.24 per share and sales of $42.98 billion both topped consensus estimates, as did GM’s full-year earnings guidance. The company’s equity income for its China business, however, fell 34% in 2022.

Pfizer ($PFE) posted an impressive Q4 earnings surprise: 10 cents per share when analysts were expecting a loss of 19 cents. The company’s $14.25 billion in sales was only a bit below estimates, as shares in early trading jumped atop an already noticeable year-over-year decline. A strong pipeline beyond COVID vaccines is expected to pick up the slack for Pfizer.

United Parcel Service ($UPS) beat Q4 earnings estimates, but its $24.92 billion in revenues missed the Zacks consensus. The company also announced around 12K in layoffs, with a new revenue guidance of $92-$94.5 billion for the year. Despite no earnings misses since Q1 2020, shares are down 5.5% this morning on the news.

November’s Case-Shiller Home Prices showed a slight miss to +5.4% in the 20-city survey, with a -0.2% month-over-month decline. Leading price growth was Detroit at 8.2%; Seattle brought up the rear at -1.4%. Further data set to come today, including JOLTS Job Openings and the Consumer Confidence index for January.

After the closing bell, we’ll get more earnings results, including from Microsoft ($MSFT), Alphabet ($GOOGL), and Advanced Micro Devices ($AMD). Each Zacks Rank #3 (Hold)-rated stocks is expecting big earnings growth and top-line gains. For more on how these stocks stand ahead of their quarterly reports, click here.



Read more: GM Up on Q4 Beat & Raise; UPS, Pfizer Mixed