Home| Features| About| Customer Support| Request Demo| Our Analysts| Login
Gallery inside!
Markets

JPMorgan Chase, Wells Fargo, And More Stocks Making Biggest Premarket Move 

April 14, 2023
minute read

JPMorgan Chase

 

Due to higher interest rates, the banking behemoth posted record revenues that exceeded analysts' expectations. Refinitiv analysts had predicted that JPMorgan Chase's revenue would be $36.19 billion, but JPMorgan came in ahead of that estimate with $39.34 billion.

Wells Fargo

 

In its earnings report, the bank beat Wall Street expectations by 3.1%. Shareholders earned $1.23 per share, 10 cents more than analysts had predicted. It reported revenues of $20.73 billion, which was higher than Wall Street's expectation of $20.08.

BlackRock

 

After reporting first-quarter earnings, the investment management company added 1.6%. Refinitiv analysts expected $7.76 in adjusted earnings per share for BlackRock. With $4.24 billion in revenue, the company met expectations.

PNC

 

As a result of the bank's first-quarter earnings report, its shares rose 1.3%. Analysts had predicted $3.67 in earnings per share, but PNC reported $3.98 instead. There was a $5.60 billion revenue surprise for the bank, a slight decline from the $5.61 billion expected. As well as reporting a slight increase in deposits, PNC noted that its provision for credit losses decreased from the previous quarter.

Citigroup

 

A strong revenue report for the first quarter boosted the bank's shares by 2.5%.

Express

 

As a result of news that Express was acquiring e-commerce apparel retailer Bonobos from Walmart, the apparel brand's shares jumped 18%.

Lucid

 

As a result of delivering fewer Air sedans than it had in the first quarter, the luxury electric vehicle maker saw its stock drop 6.6%. Analysts also expected more Air sedans to be delivered than were actually delivered.

Rivian

 

Piper Sandler downgraded shares from overweight to neutral, which caused shares to fall 2.5%. In order for the company to remain competitive, funding headwinds will need to be addressed. The shares of Tesla fell 1% in premarket trading.

UnitedHealth

 

In addition to beating Wall Street's expectations on the top and bottom lines, UnitedHealth raised its profit outlook for 2023. Revenue of $91.93 billion was accompanied by adjusted earnings of $6.26 per share. Refinitiv’s analysts expected $89.78 billion in revenue to generate earnings per share of $6.13.

Boeing 737 Max
Boeing 737 Max

Boeing

 

As part of an issue with a part made by Spirit AeroSystems, Boeing warned it might have to reduce 737 Max deliveries in the premarket. A 14% drop in Spirit AeroSystems' shares was reported.

Amazon

 

The company's shares fell slightly as investors examined CEO Andy Jassy's letter to shareholders. According to both Bank of America and UBS, the stock will keep its buy rating following the release of the letter.

Hello Group

 

In response to JPMorgan's upgrade to overweight from neutral, shares of the Chinese entertainment company jumped 5.2%. Based on JPMorgan's research, Hello Group is a preferred stock in the live-streaming industry.

Carisma Therapeutics

 

Baird initiated coverage of the biopharmaceutical company with an outperform rating, leading the stock to advance 3.2%. A new report, due later in the year, is expected to provide more insight.

LiveOne

 

A buy rating was initiated by Roth MKM on the audio stock, resulting in an increase of 2.1% in shares. Since a subsidiary has been spun off, the stock has upside potential.

VF Corp

According to Goldman Sachs, the company's recent strategic moves are expected to boost the share price, boosting apparel retailers like Vans and The North Face. Goldman believes that VF's stock can jump more than 20% as a result of the company's strong management strategy and new products.

Tags:
Author
Adan Harris
Managing Editor
Eric Ng
Contributor
John Liu
Contributor
Editorial Board
Contributor
Bryan Curtis
Contributor
Adan Harris
Managing Editor
Cathy Hills
Associate Editor

Subscribe to our newsletter!

As a leading independent research provider, TradeAlgo keeps you connected from anywhere.

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

Explore
Related posts.