Stocks in focus in pre-market trade Tuesday:
• Coca-Cola (NYSE:KO) stock gained 0.62% by 8:11 AM ET (12:11 GMT) after the company reported better-than-expected quarterly results thanks to increased sales of Sugar-free sodas, premium waters and sports drinks.
• General Electric (NYSE:GE) stock lost 1.08% as the company slashed its dividend to 1 cent per share after quarterly results missed on the top and bottom lines. However, GE reiterated its full-year earnings guidance, ahead of current analysts’ expectations.
• Pfizer (NYSE:PFE) stock sank 3.31% as third-quarter revenue missed forecasts and the company cut the top end of its full-year revenue forecast.
• Apple (NASDAQ:AAPL) stock gained 0.69% as the company is expected to unveil updates to its Mac computers and iPads that include facial recognition features at an event later on Tuesday.
• Chesapeake Energy (NYSE:CHK) stock plunged 13.17% after it said it would buy Wildhorse Resource Development (NYSE:WRD) in a deal valued at approximately $4 billion.
• Cognex (NASDAQ:CGNX) stock sank 10.38% after the company gave a fourth-quarter revenue guidance that fell short of estimates.
• Cognizant Technology Solutions (NASDAQ:CTSH) stock tumbled 8.41% after the company provided a worse-than-expected forecast for fourth-quarter revenue and profit.
• Under Armour (NYSE:UAA) stock surged 9.95% after the company’s quarterly profit smashed Wall Street estimates and it lifted its earnings outlook.
• Akamai Technologies (NASDAQ:AKAM) stock soared 10.35% as quarterly results beat consensus.
