Stock futures declined Friday ahead of quarterly earnings from some of the biggest U.S. banks.
These stocks were poised to make moves Friday:
Analysts forecast JPMorgan Chase (JPM) will report first-quarter earnings of $10.2 billion, up 23% from a year earlier, or $3.41 a share. Revenue is expected to increase to $36.2 billion from $30.7 billion a year earlier thanks to an anticipated jump in net interest income of 36% to $19.1 billion. The stock was up 0.2% in premarket trading.
Wells Fargo (WFC) is expected by Wall Street to report first-quarter earnings of $1.13 a share on revenue of $20.1 billion. A year earlier, the bank earned 88 cents a share on revenue of $17.6 billion. Shares fell 0.7%.
Wall Street will be closely watching further progress on the turnaround plan at Citigroup (C) when the bank reports first-quarter earnings before the stock market opens Friday. Citigroup is expected to post a profit of $3.4 billion or $1.64 a share.
BlackRock (BLK) and PNC Financial (PNC) also are scheduled to report earnings before the opening bell Friday.
Boeing (BA) sank 4.4% in premarket trading after the aerospace giant halted deliveries of its 737 MAX jet after the discovery of a parts compliance problem from a supplier.
“A supplier has notified us that a nonstandard manufacturing process was used during the installation of two fittings in the aft fuselage section of certain [737 MAX] airplanes, creating the potential for a nonconformance to required specifications,” a Boeing spokeswoman told Barron’s in an emailed statement.” The spokeswoman added it wasn’t an “immediate safety of flight issue.”
Lucid Group (LCID) declined 6.3% after first-quarter deliveries at the electric-vehicle maker missed analysts’ expectations.
UnitedHealth (UNH), the nation’s largest health insurer by enrollees, is scheduled to report first-quarter earnings ahead of Wall Street trading Friday.
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