GE, GM, RTX, Spotify, Alaska Air and more stock market drivers

Markets closed higher on Tuesday, as the Dow posted its 12th day of gains and attention turned to the Federal Reserve.

General Electric (Stock ticker: GE) reported second-quarter adjusted earnings of 68 cents per share on sales of $15.9 billion, higher than Wall Street’s estimate that called for earnings of 46 cents per share on sales of $14.8 billion. GE also raised its full-year guidance, and the stock jumped 6.2%.

General Motors (GM) earned $1.91 per share on an adjusted basis in the second quarter, beating analyst estimates. Revenue of $44.8 billion also exceeded expectations of $42.1 billion. But shares of the automaker fell 3.5 percent.

RTX (RTX), the former Raytheon Technologies company, fell 10% after the aerospace and defense company cut its free cash flow forecast for a full year after issues with some Pratt & Whitney engines. It was the worst performance ever

Standard & Poor’s 500

Tuesday; American Packaging (PKG) was the top 10%.

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3M (MMM) rose 5.4% after the company reported better-than-expected second-quarter profits and sales, and raised its full-year forecast.

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 shares fell after revenue missed expectations.

Alaska Air (ALK) plunged 9.7% after saying it expects revenue growth to slow in the third quarter.

Sherwin Williams

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Shares (SHW) rose 2.9% after the paint company raised its earnings forecast after posting record quarterly revenue.

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

Shares of computer accessories maker Logitech International (LOGI) rose 14% after beating estimates for fiscal first-quarter earnings and raising its guidance.

NXP Semiconductor

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(NXPI) beat analysts’ earnings and revenue forecasts in the second quarter, and the Netherlands-based chip maker forecast third-quarter profit of $3.39 to $3.82 per share versus expectations of $3.44 per share. The stock rose 4.3%.

Write to Joe Woelfel at [email protected]

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