Check out the companies that make headlines before the bell:
UnitedHealth (UNH) – Health insurers’ share has risen 2.2% in front of the market after surpassing the top and bottom lines in the third quarter and raising full-year earnings forecasts. UnitedHealth earned $ 4.52 per share, 11 cents above consensus, supported by higher revenues in the Optum Pharmaceutical Benefits segment.
Bank of America (BAC) – Bank of America shares rose 2.8% in pre-market trading after reporting a profit per share of 85 cents in the third quarter. This is compared to a 71-cent consensus estimate and higher-than-expected revenue. This is partly due to the double-digit increase in net interest income.
Wells Fargo (WFC) – Wells Fargo reported adjusted quarterly earnings of $ 1.22 per share compared to a 99-cent consensus forecast, but earnings also exceeded expectations. Wells Fargo’s results were helped by the release of funds reserved to cover bad debts. Inventory was added 1.2% before marketing.
Walgreens Boots Alliance (WBA) – Walgreens shares rose 2.4% in front of the market as adjusted quarterly earnings of $ 1.17 per share exceeded expectations by 15 cents. Revenues also exceeded consensus estimates, with results supported by increased Covid-19 vaccine sales, home Covid test sales, and cold and flu product sales growth.
Morgan Stanley (MS) – Morgan Stanley exceeded estimates by 30 cents, with third-quarter earnings of $ 1.98 per share, but revenues also exceeded Street’s expectations. The investment company said its earnings reflect strong performance across all business segments. Morgan Stanley increased 1.5% in pre-marketing behavior.
Caterpillar (CAT) – Heavy equipment manufacturers say Cohen has achieved Caterpillar’s “megacycle” for the first time in 14 years, increasing 1.2% in pre-marketing behavior after launching coverage on “outperform” ratings bottom.
Taiwan Semiconductor (TSM) – Chip makers reported that third-quarter profits were up 13.8% more than expected, thanks to a surge in global demand for chips and a shortage that pushed up prices. Stock prices in front of the market soared 3.8%.
Shopify (SHOP) – Shopify has partnered with Microsoft (MSFT), Oracle (ORCL), and other cloud providers to help streamline your business. The various tools of these providers will be integrated into the customer platform of Canadian e-commerce companies.
Avis Budget (CAR) – The Avis Budget has been downgraded from “equivalent weight” to “underweight” at Morgan Stanley due to a number of factors, including ratings. Car rental companies’ share has increased five-fold in the last 12 months, and Morgan Stanley feels that Avis Budget is in peak circular revenue. Pre-market stock prices fell 4.3%.
UPS (UPS) – UPS has been upgraded from Stifel Financial’s Hold to Buy because of its valuation, long-term e-commerce volume growth, and continued focus on yield management. Stifel has also raised its share price target to $ 224 per share. This represents a potential 22% increase from current levels. UPS added 2.6% in pre-market transactions.
UnitedHealth, Wells Fargo, Walgreens, etc.
Source link UnitedHealth, Wells Fargo, Walgreens, etc.