GE, GM, RTX, Spotify, Alaska Air, and More Stock Market Movers

General Motors
(GM) earned $1.91 a share on an adjusted basis in the second quarter, topping analysts’ estimates. Revenue of $44.8 billion also beat forecasts of $42.1 billion. Shares of the auto maker, however, fell 3.5%.

RTX
(RTX), the former Raytheon Technologies, fell 10% after the aerospace and defense company lowered its expectations for full-year free cash flow following issues with some Pratt & Whitney engines. It was the worst performer in the
S&P 500
on Tuesday;
Packaging Corp. of America
(PKG) was the best, up 10%.

3M
(MMM) rose 5.4% after the company posted better-than-expected second-quarter profit and sales and raised its full-year outlook. 

Spotify Technology
(SPOT) fell 14% even after the music streaming service posted better-than-expected subscriber growth in the second quarter. It was the company’s best-ever quarter for new users but the stock tumbled after revenue missed forecasts.

Alaska Air
(ALK) tumbled 9.7% after saying it expects slower revenue growth in the third quarter.

Sherwin-Williams
(SHW) rose 2.9% after the paints company raised its profit outlook following record quarterly revenue.

F5 (FFIV), the cloud security company, reported fiscal third-quarter earnings of $3.21 on revenue of $702.6 million. Analysts had estimated earnings of $2.86 a share on revenue of $698.9 million. Shares jumped 5.8%.

Logitech International
(LOGI), the computer peripherals maker, surged 14% after beating fiscal first-quarter earnings estimates and hiking its guidance.

NXP Semiconductors
(NXPI) beat analysts’ second-quarter earnings and revenue expectations and the Netherlands-based chip maker forecast third-quarter profit of $3.39 to $3.82 a share vs. expectations of $3.44 a share. The stock rose 4.3%.

Write to Joe Woelfel at [email protected]