U.S. stock futures ticked up Friday as investors turned their attention to big bank earnings after the major averages staged a historic turnaround rally.
Market Snapshot
At 7:50 a.m. ET, Dow e-minis were up 134 points, or 0.45%, S&P 500 e-minis were up 11.5 points, or 0.31%, and Nasdaq 100 e-minis were up 10.5 points, or 0.09%.
Pre-Market Movers
Connexa Sports Technologies Inc. stock is rocketing more than 70% alongside heavy pre-market trading.
Zovio Inc shares are soaring over 38% as they also see heavy trading volume this morning.
Chembio Diagnostics stock is surging more than 25% without any news on Friday morning.
Imara Inc. shares are gaining over 17% after announcing a merger agreement with Enliven Therapeutics.
Siyata Mobile Inc. stock is rising more than 15% after closing a registered direct offering yesterday.
Novo Integrated Sciences, Inc. stock is plummeting more than 41% after pricing a public offering.
Liquid Media Group Ltd. shares are diving almost 17% today.
Panbela Therapeutics, Inc. stock is tumbling close to 16% on Friday morning.
Nuwellis, Inc. shares are taking an over 15% beating after announcing a stock offering.
Beyond Meat, Inc. shares are slipping more than 9% after cutting its 2022 revenue outlook.
Market News
Morgan Stanley reported net revenues of $13.0 billion for the third quarter ended September 30, 2022 compared with $14.8 billion a year ago. Net income applicable to Morgan Stanley was $2.6 billion, or $1.47 per diluted share, compared with net income of $3.7 billion, or $1.98 per diluted share, for the same period a year ago.
JPMorgan Chase reported Q3 earnings Friday of $3.12 per diluted share, down from $3.74 a year earlier.Net revenue for the quarter was $32.72 billion, compared with $29.65 billion a year earlier.
Wells Fargo posted Q3 earnings Friday of $0.85 per diluted share, down from $1.17 per share a year ago.Revenue was $19.51 billion for the quarter ended Sept. 30, up from $18.83 billion a year ago.
UnitedHealth reported Q3 adjusted earnings Friday of $5.79 per diluted share, up from $4.52 per share a year earlier.Revenue for the quarter ended Sept. 30 was $80.89 billion, up from $72.34 billion a year ago.
Billionaire Elon Musk is being investigated by federal authorities related to his attempted acquisition of Twitter, lawyers on behalf of the social media company wrote in a court filing in Delaware.
U.S. Bancorp reported Q3 earnings Friday of $1.16 per diluted share, down from $1.30 per diluted share a year earlier.Revenue for the quarter ended Sept. 30, expressed as the sum of net interest income and total non-interest income, was $6.33 billion, up from $5.89 billion a year ago.
Kroger will acquire all of the outstanding shares of Albertsons Companies for an estimated total consideration of $34.10 per share, implying a total enterprise value of approximately $24.6B.
Beyond Meat, Inc. is conducting further layoffs following a round of cuts made in August, according to people familiar with the matter.It wasn’t immediately clear how many workers were terminated.