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Stocks Making the Biggest Premarket Moves: Morgan Stanley, UnitedHealth, Live Nation and More

April 16, 2024
minute read

Before the opening bell, keep an eye on these notable companies:

UnitedHealth saw a surge of approximately 7% in its shares following its first-quarter results announcement, surpassing revenue expectations by showcasing a nearly 9% growth from last year, totaling $99.8 billion. Adjusted earnings stood at $6.91 per share, outperforming analyst predictions of $6.61 per share.

Morgan Stanley experienced a 3.2% increase in shares after exceeding first-quarter forecasts in wealth management, trading, and advisory services. The company reported earnings of $2.02 per share, surpassing analyst estimates of $1.66 per share, with revenue reaching $15.14 billion, exceeding expectations of $14.41 billion.

Live Nation Entertainment faced a 9.6% decline in shares following reports from the Wall Street Journal indicating that the Justice Department is gearing up to file an antitrust lawsuit against its parent company, Ticketmaster, in the upcoming weeks.

Despite Johnson & Johnson surpassing quarterly earnings expectations and enjoying a rise in medical device sales, its stock saw a slight decrease. Revenue matched analyst projections at $21.38 billion, close to the anticipated $21.4 billion.

Bank of America reported adjusted first-quarter earnings of 83 cents per share, surpassing analysts' estimates of 76 cents per share, with revenue hitting $25.98 billion, aligning with expectations of $25.46 billion. The company's shares remained relatively stable during premarket trading.

International Paper observed a nearly 2% increase in shares after announcing its acquisition of British packaging company DS Smith in a $7.2 billion all-stock transaction. International Paper specializes in producing packaging and other fiber-based products.

Tesla experienced a 2.7% decline in shares, continuing its downward trend following an internal memo released on Monday, which stated the company's intention to lay off over 10% of its global workforce. CEO Elon Musk emphasized the need for cost reductions and increased productivity as the company prepares for its next phase of growth. Additionally, two senior Tesla executives announced their departure from the company on the same day.

Editorial Board
Eric Ng
John Liu
Editorial Board
Bryan Curtis
Adan Harris
Managing Editor
Cathy Hills
Associate Editor

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