Check out the companies making headlines before the bell. McDonald’s — Shares dipped nearly 2% in premarket trading after the Chicago-based fast food chain missed analysts’ quarterly earnings estimates as same-store sales fell short of expectations. Worldwide sales rose by 1.9% in the quarter, lower than the 2.1% growth expected by analysts, according to FactSet. Stellantis — Shares of the Jeep maker, formerly known as Chrysler, lost 3.6% after revenue came in lower than expected . First-quarter revenue at the Netherlands-based automaker slid 12% due to lower sales plus foreign exchange effects, even as net pricing remained strong. Coca-Cola — The Atlanta-based soft drink maker dipped about 0.4% as first-quarter results came in slightly ahead of expectations. Coca-Cola reported 72 cents in adjusted earnings per share on $11.30 billion of revenue. Analysts surveyed by LSEG were looking for 70 cents per share on $11.01 billion of revenue. Increases in price and product mix were key drivers of revenue growth, Coke said. Tesla — The electric vehicle maker lost 1.9% in premarket trading one day after soaring 15.3% as some investors pocketed gains from Monday. Tesla jumped after winning approval from China to roll out its advanced driver-assistance service technology in the country. HSBC — HSBC, Europe’s largest bank by assets, added 4.2% after the firm beat first-quarter earnings expectations and announced the departure of its Group Chief Executive Officer, Noel Quinn. HSBC’s revenue for the period was $20.8 billion, up 3% from the same period a year ago and higher than analysts’ forecast of $16.94 billion, according to LSEG. The bank also reiterated its 2024 financial guidance. Eli Lilly — Shares popped nearly 7% after the maker of the Mounjaro diabetes and weight loss drug reported first-quarter adjusted earnings of $2.58 per share, beating the consensus estimate of $2.46, according to LSEG. Eli Lilly also hiked its full-year guidance for adjusted earnings and revenue, topping analysts’ expectations. 3M – Shares advanced 7.7% after the maker of industrial products posted earnings of $2.39 per share on revenues of $7.72 billion. That topped analysts’ estimates of $2.10 per share on adjusted revenues of $7.63 billion, according to LSEG. 3M also said it will cut its dividend, which it had raised for 64 consecutive years , after spinning off its healthcare unit earlier this month. — CNBC’s Tanaya Macheel, Yun Li, Jesse Pound and Michelle Fox Theobald contributed reporting.
