Pedestrians pass the AT&T store in New York, USA
Scott Mir | CNBC Money
Check out the companies making headlines in premarket trading.
JPMorgan — Shares of the bank rose 2.7 percent on higher interest rates and strong bond trading at the investment bank, which reported better-than-expected earnings. The company reported an adjusted $4.37 a share on revenue of $42.4 billion, compared with analysts polled by Refinitiv who had estimated $4 a share on revenue of $38.96 billion.
FuGuo bank — Shares rose nearly 4 percent as interest income rose 29 percent and earnings topped expectations. Wells Fargo reported adjusted $1.25 a share and $20.53 billion in revenue, compared with analysts polled by Refinitiv forecasting $1.16 a share and $20.12 billion.
Citibank — Citi shares rose nearly 2 percent in premarket trading after earnings beat expectations. The company reported adjusted EPS of $1.33 on revenue of $19.44 billion. Analysts polled by Refinitiv expected earnings of $1.30 a share on revenue of $19.29 billion.
black stone — Shares down about 1% After quarterly results. The investment firm reported adjusted earnings of $9.28 a share on revenue of $4.46 billion, while analysts polled by Refinitiv expected $8.45 a share on revenue of $4.45 billion.
Coinbase — Shares in the cryptocurrency exchange fell 1.2 percent in premarket trading. Coinbase shares experienced a strong rally the day before due to the ruling in the cryptocurrency XRP case. A judge in the Southern District of New York said the token may not be a security.
plug power — Batteries rose nearly 6 percent after Northland Capital Markets upgraded the battery stock to outperform.
Microsoft — Microsoft rose 1.8% after UBS upgraded the technology stock to “buy” from “neutral.” The Wall Street firm said recent weakness in the stock represents an opportunity for investors in a major artificial intelligence company. UBS also raised its price target to $400, implying an upside of more than 16%. Microsoft shares are up 42% this year.
AT&T — Shares fell 1.3% after JPMorgan downgraded the telecom giant to neutral due to increased competition in wireless and wireline.
UnitedHealth Group — Healthcare shares rose 3.4 percent after earnings topped expectations. The company reported adjusted earnings of $6.14 per share on revenue of $92.9 billion, compared with forecasts of $5.99 and $91.0 billion by analysts polled by Refinitiv.
Alcoa — Shares in the aluminum supplier fell 2.3% after JPMorgan downgraded its rating to neutral due to recent weakness in metal prices.
— CNBC’s Sarah Min contributed reporting
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