3M Rallies on Raised Outlook; GM Slips Despite Strong Earnings

Shares of 3M surged in premarket trading Tuesday after the industrial conglomerate reported stronger-than-expected quarterly results and raised its full-year guidance, signaling confidence in its turnaround plan. In contrast, General Motors shares declined despite the automaker topping analyst estimates and lifting its own annual forecast.

Corporate Earnings Diverge

3M (MMM) stock jumped 5.7% in premarket activity after the company posted adjusted second-quarter earnings of $2.40 per share on adjusted sales of $6.5 billion, beating Wall Street expectations. According to the Investing.com report, the company's organic sales grew 5.4% year-over-year, and management responded by raising its 2026 earnings forecast.

General Motors (GM) slipped 1.3% even after reporting robust quarterly results. The automaker announced adjusted earnings of $3.57 per share on $48.0 billion in revenue and raised its full-year adjusted EBIT and earnings guidance. However, the positive report appeared insufficient to satisfy investors following a recent strong performance in the stock, who were looking for more comprehensive signs of improvement.

Broader Market Movers

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Technology and semiconductor stocks rebounded from recent weakness, with Nasdaq 100 futures climbing 1.3%. Investors are positioning for a significant week of earnings from major tech firms, which are expected to test the sustainability of the market's artificial intelligence-driven rally.

Other notable premarket movers included:

• Equifax (EFX): Dropped 8.5% after the credit reporting agency issued a weaker-than-expected outlook, overshadowing a second-quarter earnings beat.
• Danaher (DHR): Fell 8.4% as investors focused on softer-than-anticipated bioprocessing revenue, raising concerns about near-term growth.
• Workday (WDAY): Declined 4.2% after Morgan Stanley downgraded the enterprise software stock to “Underweight,” citing expectations of slowing growth.
• Ceragon Networks (CRNT): Jumped 14% upon securing a five-year agreement worth approximately $70 million with a major telecommunications operator in the Asia-Pacific region.