• 293
  • 52
  • Favorite

Toplines Before US Market Open on Wednesday

Tiger Newspress2022-01-19

Upbeat results from Morgan Stanley and Bank of America pushed U.S. stock index futures higher on Wednesday, partially righting a wobbly start to the fourth-quarter earnings reporting season, while Big Tech stocks also looked set to make a comeback.

At 8:00 a.m. ET, Dow E-minis were up 76 points, or 0.22%, S&P 500 E-minis were up 13.5 points, or 0.3% and Nasdaq 100 E-minis were up 59.25 points, or 0.39%.

Shares of beaten-down megacap growth companies, including Apple Inc, Microsoft Corp, Alphabet Inc, Tesla Inc, Meta Platforms Inc and Netflix Inc , rose up to 1%.

Stocks making the biggest moves in the premarket:

Bank of America – Bank of America shares rallied 3.2% in the premarket after it beat estimates by 6 cents with a quarterly profit of 82 cents per share. Revenue was slightly below forecasts, but the bank’s overall performance was helped by strength in investment banking.

UnitedHealth Group – UnitedHealth earned an adjusted $4.48 per share for the fourth quarter, 17 cents above estimates, and the health insurer’s revenue also topped forecasts. UnitedHealth saw particular strength from its Optum unit’s drug benefits management business.

Morgan Stanley – Morgan Stanley jumped 3.5% in the premarket after beating estimates by 10 cents with a quarterly profit of $2.01 per share, and revenue essentially in line with forecasts. Results got a boost from robust deal advisory fees on a very active quarter for merger and acquisition deals.

Procter & Gamble – P&G added 1% in the premarket after beating estimates on the top and bottom lines for its fiscal second quarter and raising its organic growth outlook. P&G beat estimates by a penny with a profit of $1.66 per share, as consumers shrugged off price hikes for the company’s household staples.

Sony – Sony fell 3.9% in premarket trading on top of a 7.2% skid Tuesday. The drop followed news ofMicrosoft’s (MSFT) deal to buy video game makerActivision Blizzard(ATVI) for $68.7 billion, a transaction that would increase competitive pressure on Sony’s PlayStation operation.

Alliance Data Systems – Alliance Data lost 1.7% in premarket action, following news that warehouse retailerBJ’s Wholesale(BJ) is moving its co-branded credit card account toCapital One(COF). Alliance is also being sued by BJ’s, which claims the store credit card specialist is slowing down the transfer process. Alliance said it believes it is in full compliance with its contract.

SoFi Technologies – SoFi surged 18% in premarket action after the financial technology company won regulatory approval to become a bank holding company.

Zogenix – Zogenix soared 65.9% in the premarket after agreeing to be acquired by Brussels-based biopharmaceutical company UCB for $26 dollars per share, compared with the $15.64 Tuesday closing price for Zogenix. UCB would also pay an extra $2 per share if the Zogenix drug fintepla – a treatment for a rare type of epilepsy – wins EU approval by the end of 2023.

Tegna – Tegna is close to finalizing a $9 billion deal to be bought out by private equity firms Apollo Global Management and Standard General, according to sources familiar with the situation who spoke to the New York Post. The paper said the TV station operator was initially holding out for a roughly $500 breakup fee if the deal did not receive FCC approval in a timely manner, but has now backed off that demand. Tegna rallied 4.9% in the premarket.

ASML – ASML shares rose after reporting a better-than-expected fourth-quarter profit. The Dutch chipmaker also issued an upbeat 2022 sales growth forecast, with shares adding 2.2% in premarket trading.

Pearson – Pearson raised its full-year forecast amid strength across its education publishing portfolio and better-than-expected prospects for U.S. higher education courseware. Pearson shares jumped 7.2% in the premarket.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Report

Comment52

  • HelloKitty55
    ·2022-01-20
    Ok
    Reply
    Report
  • SilentWarrio
    ·2022-01-20
    Thanks for the info
    Reply
    Report
  • time to eat
    ·2022-01-20
    Just buy
    Reply
    Report
  • 75b37620
    ·2022-01-20
    Great
    Reply
    Report
  • nanehz07
    ·2022-01-20
    Like
    Reply
    Report
  • 34b891b9
    ·2022-01-20
    👍
    Reply
    Report
  • HENRYCSC
    ·2022-01-20
    Ok 
    Reply
    Report
  • BKT
    ·2022-01-20
    Good. Pls like thanks.
    Reply
    Report
  • KCmax
    ·2022-01-19
    Please like
    Reply
    Report
  • SanWangtikup
    ·2022-01-19
    Go
    Reply
    Report
  • Anonyb
    ·2022-01-19
    Bullish outlook for today. 
    Reply
    Report
  • Dttk
    ·2022-01-19
    like pls
    Reply
    Report
  • yiyirox
    ·2022-01-19
    Ok
    Reply
    Report
  • Jayden_Mok
    ·2022-01-19
    Like
    Reply
    Report
  • Ericsohth
    ·2022-01-19
    Great
    Reply
    Report
  • Nutshell
    ·2022-01-19
    👍
    Reply
    Report
  • Damien111
    ·2022-01-19
    Like
    Reply
    Report
  • jerryang17
    ·2022-01-19
    Hoodelins ya humailin. 
    Reply
    Report
  • yl2021
    ·2022-01-19
    Like pls
    Reply
    Report
  • audreyhutah
    ·2022-01-19
    like
    Reply
    Report
 
 
 
 

Most Discussed

 
 
 
 
 

7x24

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Company: TTMF Limited. Tech supported by Xiangshang Yixin.

Email:uservice@ttm.financial