JPMorgan, Wells Fargo and BlackRock rise premarket; Boeing, Lucid fall
By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Friday, April 14th. Please refresh for updates.
JPMorgan (NYSE: JPM) stock rose 5.9% after the banking giant reported a 52% jump in first-quarter profit with record revenues, helped by strong results in its consumer business in a period that saw two of the biggest banking failures in U.S. history.
Wells Fargo (NYSE: WFC) stock rose 2.9% after the lender posted a rise in sharp profit as it earned more from interest rate payments in the first quarter, helped by the U.S. Federal Reserve's tighter monetary policy.
- PNC Financial (NYSE: PNC) stock rose 1.3% after the regional lender reported an 18.5% rise in first-quarter profit, as the Fed's rate hikes fueled a surge in its net interest income.
Boeing (NYSE: BA) stock fell 5.7% after the aircraft manufacturer halted deliveries of some 737 MAXs as it grapples with a new supplier quality problem from Spirit AeroSystems (NYSE: SPR), which fell over 13%.
Lucid Group (NASDAQ: LCID) stock fell 6.4% after the luxury electric car manufacturer reported first-quarter production and delivery figures that were lower than the preceding three months, as it struggles with supply chain and logistics issues.
Tesla (NASDAQ: TSLA) stock fell 0.8% after the electric car maker lowered the price of its Model 3 in Germany, according to data on its website, in a bid to spur demand.
Hartford Financial (NYSE: HIG) stock fell 2.2% after the insurer warned its first-quarter earnings could be weaker than previously expected, weighed by catastrophic losses from winter storms.
BlackRock (NYSE: BLK) stock rose 1.5% after assets at the world's largest asset manager jumped to $9.09 trillion in the first quarter as depositors sought cover following the collapse of several U.S. banks.
UnitedHealth (NYSE: UNH) stock rose 0.9% after the healthcare and insurance company beat Wall Street estimates for quarterly profit on Friday and raised its annual forecast, helped by lower medical costs at its insurance unit.