Stock Sentiment Today & Earnings Reaction: MMM, GM, KO, GE

The stock market today opened in the negative territory as investors reacted to latest earnings reports. Energy market movers included crude oil, natural gas, gasoline, and heating oil. 3M Co. (MMM) second quarter earnings call indicated $2.48 in EPS vs the $2.41 estimate. 3M Co. (MMM) is expected to spin off a health care business by the end of 2023. The MMM stock price today rose following the news. Next, Shawn Cruz weighs in on the General Motors (GM) earnings report that saw fiscal year 2022 adjusted automotive free cash flow between $7B to $9B. General Motors plans to produce 400K electric vehicles over the course of 2022 and 2023. The company is expected to begin ultium cells production over the next month. How does GM compare to other auto and EV stocks like Ford Motor Co. (F), Tesla (TSLA), and Rivian (RIVN)? Coca-Cola (KO) earnings call indicated $0.70 in EPS and $11.3B in revenue, beating the estimates. Finally, Cruz discusses the General Electric (GE) earnings report.