TFC - Hot Stocks: IBM sinks on weak cash flow while HAL and TFC rise on earnings SHO also gains

In a risk off premarket session, shares of Halliburton Company ( NYSE: HAL ) and Truist Financial Corporation ( NYSE: TFC ) rose after both organizations delivered positive Q2 earnings information. Also tracking higher on Tuesday are shares of Sunstone Hotel Investors, Inc. ( NYSE: SHO ).

At the other end of the spectrum, International Business Machines Corporation ( NYSE: IBM ) dropped as its outlook for the rest of the year is going to be impacted by rising strength in the U.S. dollar and the company exiting its business in Russia.

Gainers

Halliburton Company ( HAL ) rose 1.3% in premarket trading after the organization delivered strong Q2 Non-GAAP EPS and revenue . HAL provided Q2 Non-GAAP EPS of $0.49, which topped forecasts by $0.04. Moreover, it also beat on revenue by $360M after reporting revenue of $5.07B.

Truist Financial Corporation ( TFC ) gained ground by 1.9% on Tuesday after the financial firm announced Q2 earnings that topped Wall Street expectations as higher rates boosted its net interest income and loans increased. TFC’s Q2 adjusted EPS of $1.20, exceeded the estimate of $1.15.

Sunstone Hotel Investors, Inc. ( SHO ) popped 7.4% on news that the stock will replace Vonage in the S&P SmallCap 600 effective July 21 after market opens.

Decliner

International Business Machines Corporation ( IBM ) declined 5.9% in early market trading as free cash flow forecasts outweighed an upbeat Q2 earnings report. IBM now expects its free cash flow for all of 2022 to be $10B, or at the low end of its earlier forecast range of $10B to $10.5B.

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