Today's Pre-Market Stock Movers: FDX, NVDA, CS, FRC and More
Gapping up
$FedEx (FDX.US)$ +11.6% (The company's fiscal third-quarter earnings topped analysts expectations. FedEx reported adjusted earnings of $3.41 per share, topping a Refinitiv consensus forecast of $2.73 per share. The company also raised its earnings forecast for the full year.)
$NVIDIA (NVDA.US)$ +2% (The chip stock received an upgrade to overweight by Morgan Stanley. The Wall Street firm cited continued tailwinds from the growing push toward artificial intelligence.)
$United States Steel (X.US)$ +3.6% (The steelmaker issued better-than-expected first-quarter guidance on improving demand. The company said it expects first-quarter adjusted earnings of 58 cents to 63 cents a share, well above Wall Street forecasts of 19 cents.)
$Bumble (BMBL.US)$ +1% (Citi initiated coverage of the dating app maker with a buy rating, and said the stock could rally more than 20% as it captures market share.)
$Warner Bros Discovery (WBD.US)$ +4.2% (Wolfe Research upgraded it to outperform. The firm anticipates Warner Bros Discovery shares rallying more than 40% in coming months. Wells Fargo also upgraded the stock to overweight from equal weight, noting that, "While recent macro events might make levered equities seem worse, we've been trending more positive on WBD due to synergies + execution.")
Gapping down
$Credit Suisse (CS.US)$ -4.1% ( Credit Suisse shares have had a volatile week after its largest investor announced it would not provide additional funding to the bank. The stock briefly rallied on Thursday after Credit Suisse announced it would borrow up to $50 billion francs ($54 billion) from the Swiss National Bank. Shares are down almost 29% year to date.)
$First Republic Bank (FRC.US)$ -24% (On Thursday, the stock rallied nearly 10% as a group of 11 banks, including Bank of America and Goldman Sachs, agreed to deposit $30 billion in First Republic.)
Source: Dow Jones, CNBC
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