Stocks make the biggest moves before market
Check out the companies making headlines before the bell:
Albertson (AIT) – Albertsons lost 4.1% in pre-marketing after announcing a merger deal with its supermarket rival Kroger (KR). Albertsons jumped 11.5% on Thursday after sources told CNBC the two sides were in talks to combine. Kroger shares slid 3%.
JPMorgan Chase (JMP) – JPMorgan Chase shares gained 2.3% pre-market after beating estimates for third-quarter revenue and net income. The bank’s results were boosted by higher net interest income, which helped offset lower transaction-related income and higher loan loss reserves.
Wells Fargo (WFC) – Wells Fargo gained 1.6% in premarket trading after its quarterly results. Rising interest rates helped the bank profit from its results, despite the costs associated with litigation and other matters.
Morgan Stanley (MRS) – Morgan Stanley reported quarterly profit of $1.47 per share, 2 cents below estimates, as the investment bank navigated what it called a difficult and uncertain environment.
UnitedHealth Group (A H) – The health insurer rose 1.6% in premarketing after beating third-quarter revenue and profit estimates and raising its outlook. UnitedHealth has been helped by lower COVID-related testing and treatment costs.
Nutanix (NTNX) – Shares of the cloud computing company jumped 15.9% pre-market after the Wall Street Journal reported that Nutanix was considering a possible sale. Sources told the outlet that the company is targeting industry rivals and private equity firms as potential buyers.
Beyond meat (BY ND) – Beyond Meat fell 8.7% in the pre-market after cutting its revenue outlook and announcing another round of job cuts, indicating reduced demand for its plant-based meat products and increased competition .
caterpillar (CAT) – Caterpillar has waived its mandatory retirement policy in a move that will allow CEO Jim Umpleby to stay on after he turns 65 in February.
Infosys (INFY) – Infosys raised its revenue growth outlook for the fiscal year ending in March, although the India-based IT services company cut the top of its operating margin forecast. Infosys also announced a $1.13 billion share buyback.