12:15 PM EDT, 07/23/2024 (MT Newswires) -- All three major US stock indexes were up in late-morning trading Tuesday, as earnings results from major companies continued to roll in.

In individual company news, General Motors ( GM ) reported Q2 adjusted earnings Tuesday of $3.06 per diluted share, up from $1.91 a year earlier and above the Capital IQ consensus analyst estimate of $2.70. Second-quarter revenue was $47.97 billion, up from $44.75 billion in the year-ago period and above the Capital IQ consensus estimate of $45.32 billion. The company said it now expects 2024 adjusted earnings of $9.50 to $10.50 per diluted share, up from its prior guidance of $9.00 to $10.00 per diluted share. In addition, GM's Cruise self-driving unit will shift its development focus to the next-generation Chevrolet Bolt from the Origin, CEO Mary Barra said Tuesday in a letter to shareholders. Lastly, Barra said during a Tuesday earnings call that the reopening of its Orion assembly plant in Michigan as a factory for battery electric trucks has been pushed back six months to mid-2026, according to a Capital IQ transcript. Shares of General Motors ( GM ) were down 7.5% near noon.

Coca-Cola (KO) reported Q2 comparable earnings Tuesday of $0.84 per diluted share, up from $0.78 a year earlier and above the Capital IQ consensus analyst estimate of $0.81. Second-quarter revenue was $12.36 billion, up from $11.97 billion in the year-ago period and above the Capital IQ consensus estimate of $11.75 billion. The company raised its full-year outlook, calling for adjusted earnings per share to grow 5% to 6% for fiscal 2024, up from previous guidance of an increase of 4% to 5%. Coca-Cola said it expects revenue to grow between 9% and 10% for the same period, up from previous guidance of 8% to 9% growth. Shares of the company were up 1.1%.

Danaher ( DHR ) reported Q2 diluted earnings Tuesday of $1.22 per share, down from $1.49 per share a year earlier and above the Capital IQ consensus analyst estimate of $1.16 per share. Second-quarter revenue was $5.74 billion, down from $5.91 billion in the year-ago period but above the Capital IQ consensus estimate of $5.59 billion. The company said it expects Q3 non-GAAP core revenue to be down low-single digits compared to last year. For full-year 2024, the company reiterated its expectation of non-GAAP core revenue to be down low-single digits year-over-year. Danaher ( DHR ) shares were up 6.8%.

GE Aerospace (GE) reported Q2 adjusted earnings Tuesday of $1.20 per diluted share, up from $0.74 a year earlier and above the Capital IQ consensus analyst estimate of $0.99. Second-quarter revenue was $9.09 billion, up from $8.76 billion in the year-ago period and above the Capital IQ consensus estimate of $8.55 billion. The company raised its full-year 2024 adjusted EPS outlook to a range of $3.95 to $4.20 from the previous guidance range of $3.80 to $4.05. Shares of GE were up 7.3%.

Philip Morris International ( PM ) reported Q2 adjusted earnings Tuesday of $1.59 per diluted share, down from $1.60 a year earlier but above the Capital IQ consensus analyst estimate of $1.56. Second-quarter net revenue was $9.47 billion, up from $8.97 billion in the year-ago period and above the Capital IQ consensus estimate of $9.19 billion. The company raised its full-year 2024 adjusted earnings guidance to a range of $6.33 to $6.45 per diluted share from a range of $6.19 to $6.31. Philip Morris ( PM ) shares were up 2.5%.

Comcast ( CMCSA ) reported Q2 adjusted earnings Tuesday of $1.21 per share, up from $1.13 a year earlier and above the Capital IQ consensus analyst estimate of $1.12. Second-quarter revenue was $29.69 billion, down from $30.61 billion the year prior and below the Capital IQ consensus estimate of $30.04 billion. Comcast ( CMCSA ) shares were down more than 4%.

United Parcel Service ( UPS ) reported Q2 adjusted earnings Tuesday of $1.79 per diluted share, down from $2.54 a year earlier and below the Capital IQ consensus analyst estimate of $1.99. Second-quarter revenue was $21.8 billion, down from $22.1 billion in the year-ago period and below the Capital IQ consensus estimate of $22.24 billion. The company said it now expects full-year 2024 revenue of about $93 billion, compared with prior guidance of revenue in a range of $92.0 billion to $94.5 billion. UPS also said it restarted its share buyback program and is targeting around $500 million in repurchases in 2024. Shares of UPS were down 13.2%.

The US Department of Transportation has opened an investigation into Delta Air Lines ( DAL ) amid widespread flight disruptions and cancellations, Secretary Pete Buttigieg said Tuesday on X. Delta shares were up 0.2%.

Cybersecurity company Wiz has ended talks with Alphabet (GOOG, GOOGL) on a reported $23 billion deal in which it would have become the tech giant's largest-ever acquisition, Reuters reported Tuesday, citing a memo it viewed. Shares of Alphabet were up 0.6%.

Johnson Controls International ( JCI ) said Tuesday it has agreed to sell its Residential and Light Commercial HVAC business to the Bosch Group in a deal valued at $8.1 billion. The transaction includes the North America Ducted business and global Residential joint venture with Hitachi. JCI's portion of the consideration is about $6.7 billion. As part of the deal, Hitachi will retain certain ductless HVAC assets located in Shimizu, Japan. JCI shares were down 1.3%.

Price: 65.40, Change: +0.63, Percent Change: +0.96