IBM, Travelers Rise Premarket; United Airlines Falls

IBM, Travelers Rise Premarket; United Airlines Falls

Investing.com -- Stocks in focus in premarket trade on Tuesday, April 20th. Please refresh for updates.

IBM (NYSE:) stock rose 2.9% after the tech giant recorded its highest quarterly sales growth in more than two years, boosted by its bets in the high-margin cloud computing business.

Johnson & Johnson (NYSE:) stock fell 0.4% after the drugmaker reported $100 million in sales for its Covid-19 vaccine, whose use was paused by U.S. regulators last week. Still, it beat expectations for quarterly revenue and profit and raised dividend payouts to shareholders.

United Airlines (NASDAQ:) stock fell 3.1% after the airline reported a bigger-than-expected $2.4 billion net loss for the first quarter, as fuel costs rose despite demand staying weak due to the pandemic.

Abbott Laboratories (NYSE:) stock fell 3.6%, handing back some of the over 13% gains seen so far this year, despite reporting a more than threefold jump in quarterly profit, buoyed by robust demand for its Covid-19 test kits.

Apple (NASDAQ:) stock fell 0.1% ahead of a virtual launch event later Tuesday, at which the iPhone-maker is expected to unveil a new podcast subscription service and may show off tiny tags meant to locate lost items.

Travelers (NYSE:)