Today's Pre-Market Movers and Top Ratings | BAC, GS, UNH, DJT and More

Movers and Shakers wrote a column · Oct 15 20:17

Morning Movers

Gapping up

$Goldman Sachs (GS.US)$ stock increased by 3.0% after the investment bank exceeded third-quarter expectations, driven by strong performance in its Global Banking & Markets division which generated quarterly net revenues of $8.55 billion.

$Bank of America (BAC.US)$ stock advanced 2.2% following earnings that beat expectations, supported by higher investment banking fees, despite a slight year-on-year drop in net interest income.

$PNC Financial Services (PNC.US)$ reported third-quarter earnings and revenue that exceeded analyst expectations, leading to a 0.3% increase in shares during premarket trading on Tuesday.

The Pittsburgh-based bank recorded earnings per share of $3.49, which outperformed the consensus estimate of $3.30. Additionally, revenue reached $5.43 billion, surpassing the anticipated $5.39 billion.

$Walgreens Boots Alliance (WBA.US)$ stock climbed 5.1% after announcing plans to close 1,200 stores over the next three years and slightly surpassing Wall Street's fourth-quarter adjusted profit forecasts.

$Wolfspeed (WOLF.US)$ stock surged 27% after the announcement of receiving $750 million from the U.S. Department of Commerce under the CHIPS and Science Act and an additional $750 million from a consortium including Apollo, The Baupost Group, Fidelity, and Capital Group.

$Trump Media & Technology (DJT.US)$ stock increased by 8.2%, building on the previous session’s major gains, during which over 57 million shares were traded.

Gapping down

$UnitedHealth (UNH.US)$ reported third-quarter earnings and revenue that surpassed analyst expectations. The health insurer announced Q3 earnings per share (EPS) of $7.15, which exceeded the consensus estimate of $7.02. Revenue reached $100.82 billion, also surpassing the anticipated $99.14 billion.

Despite these strong financial results, the company's shares declined by approximately 3.4% in premarket trading on Tuesday. For the quarter, the company's medical loss ratio, which measures the percentage of premiums spent on medical care, was 85.2%. This figure is higher than both the 82.3% reported in the same quarter the previous year and the analysts' estimate of 84.2%.

$Etsy Inc (ETSY.US)$ stock declined by 4.0% after Goldman Sachs downgraded the e-commerce company to sell from neutral due to ongoing challenges in growth and competitiveness.

Stocks of $Exxon Mobil (XOM.US)$ and $Occidental Petroleum (OXY.US)$ fell over 2.5%, following significant drops in crude prices. The decline was spurred by reduced supply concerns after reports suggested Israel might avoid targeting Iranian oil facilities.

Source: CNBC; Investing.com

US Top Rating Updates on 10/15