Today's Morning Movers and Top Ratings: C, JPM, WFC, T and More

$Citigroup (C.US)$ In premarket trading on Friday, Citigroup's stock rose by 3.4% as the banking giant reported second-quarter earnings that exceeded analyst expectations.

$Carvana (CVNA.US)$ 's stock enjoyed a 1.3% uptick after BTIG initiated coverage with a positive 'buy' rating. BTIG's analysts highlighted Carvana's strong position relative to its industry rivals, suggesting that the company represents a valuable investment opportunity that should not be overlooked.

$Bank of New York Mellon (BK.US)$ shares rose by 2.81% in premarket trading. The company reported second quarter EPS of $1.51, $0.09 better than the analyst estimate of $1.42. Revenue for the quarter came in at $4.6B versus the consensus estimate of $4.52B.

$Wells Fargo & Co (WFC.US)$ experienced a 5.4% drop in share price following its report of a second-quarter net interest income of $11.92 billion, a figure down by 9% from the previous year and below the $12.12 billion anticipated by analysts. The bank also maintained its yearly forecast, expecting a 7% to 9% decline in net interest income.

$JPMorgan (JPM.US)$ declined by 0.19% despite reporting a second-quarter revenue of $50.99 billion, surpassing the $49.87 billion analysts had estimated. Earnings were at $4.40 per share, which may not directly compare to the consensus estimate of $4.19 per share. Despite this dip, the bank's shares have risen by nearly 22% over the current year.

$Tesla (TSLA.US)$ shares declined by 2.0%, adding to a significant drop from the prior session. This followed UBS's downgrade of Tesla from 'neutral' to 'sell', in reaction to the delay of Tesla's robotaxi event.

$AT&T (T.US)$ 's stock fell by 2.5% after the company announced a security breach where customer data, including call and text records for most customers over a six-month span in 2022, was illegally accessed from a third-party platform.