Ford Motor Co. (NYSE:F): The Michigan-based auto giant reported its second quarter earnings this morning, with profits falling to $2.4 billion, or 59 cents a share, from $2.6 billion, or 61 cents a share, in the year-ago period. Revenue rose to $35.5 billion from $31.3 billion. The company fell short of the expected EPS target of 60 cents per share 60 cents a share, but topped the revenue expectation of $32.15 billion. Notably, Ford said its total cash for the recent period rose by $700 million to $22 billion. F stock is trading up 1.82% in premarket activity. Keep an eye on shares of General Motors (NYSE:GM) and Toyota Motor Company (NYSE:TM).
3M Company (NYSE:MMM): The diversified technology company also reported the results of its fiscal second quarter to shareholders today, with earnings increasing to $1.2 billion, or $1.60 a share, compared $1.1 billion, or $1.54 a share in the year-ago period. Total revenue was $7.7 billion, 14% higher than the same period last year. Analysts expected earnings of $1.59 a share, on revenue of $7.6 billion. MMM raised the low-end of its guidance for 2011. The stock is down -2.69% in premarket trades. Expect this news to affect other Industrials (NYSE:XLI).
United Parcel Service (NYSE:UPS): The package delivery company mailed in a 26% increase in profits in the second quarter, boosting earnings to $1.06 billion, or $1.07 a share, from $845 million, or 84 cents, a year earlier. Total revenue rose 8.1% to $13.2 billion. Analysts predicted that UPS earn $1.04 a share on revenue of $13.1 billion in the second quarter and $4.34 a share for the year. The company maintained its forecast for the year of profit in the range of $4.15 to $4.40 a share. UPS stock is down -1.12% in premarket trades. This may heavily impact trading in key rival FedEx (NYSE:FDX).