Stocks making the biggest moves premarket: JPM, BAC, IBM, AAPL Skip Navigation Markets Business Investing Tech Politics Video Watchlist Investing Club PRO Livestream Menu Check out the companies making headlines before the bell: JPMorgan Chase Shares were down slightly in the premarket after the banking giant posted Q2 results. The bank earned $6.14 per share, excluding significant items, on revenue of $58.02 billion. Analysts polled by LSEG expected a profit of $5.85 per share on revenue of $50.19 billion. To be sure, it wasn't clear if the bank's profit was comparable to the consensus. Bank of America Bank of America beat expectations in its latest quarter. The bank posted earnings of $1.21 per share, more than the $1.13 expected by analysts polled by LSEG. Revenue of $31.7 billion also exceeded the $30.72 billion consensus estimate. To be sure, shares were flat in the premarket. Wells Fargo The stock were down 1% even after Wells Fargo posted earnings of $2 per share on revenue of $22.62 billion. Analysts surveyed by LSEG were anticipating earnings of $1.72 per share on revenue of $21.84 billion. Goldman Sachs Shares added 1.4% after the bank posted second-quarter earnings that exceeded estimates. Goldman posted earnings of $20.98 per share, more than the $14.48 LSEG consensus estimate. Revenue of $20.34 billion also topped the $16.13 billion expected. Citigroup The bank fell 2% even after Citigroup posted its best quarterly revenue in a decade. Citigroup posted second quarter earnings of $3.15 per share, more than the $2.74 expected by analysts surveyed by LSEG. Revenue of $24.77 billion also exceeded the anticipated $23.74 billion. Apple Shares of the iPhone maker slid about 1% KeyBanc downgraded Apple to underweight from sector weight, with a $250 price target implying 21% downside from Monday's close. The Wall Street firm expects the stock could come under pressure as customers tighten their purse strings in response to rising prices. IBM The legacy tech giant plunged 17% after it posted weaker-than-expected preliminary Q2 earnings. IBM expects to report a profit of $2.93 per share, excluding certain items. Analysts polled by FactSet expect a profit of $3.01 per share. Telefonaktiebolaget LM Ericsson Shares of the Swedish networking and telecommunications provider dropped nearly 10%. The company posted disappointing revenue of SEK52.70B, missing the consensus estimate of SEK53.94B, according to StreetAccount. Adjusted gross margin of 48.4% also came in below the 47.8% expected. CNBC's Fred Imbert contributed reporting
🔥 EXCLUSIVE PARTNER OFFER
1PC Baofeng UV 5RMINI Wireless Frequency Reading Walkie Talkie AM Long Range Multi-Band Type-C Charger Ham Radio
Special Price
🎯 Best price guarantee! Order now and enjoy fast shipping with global tracking.
Affiliate link — Commission earned at no extra cost to you
© EcoNews DZ — Global Economic & Financial News
Comments
Post a Comment