Goldman, Bank of America, Johnson&Johnson rise premarket; Lockheed Martin falls
Investing.com -- U.S. futures slipped lower Tuesday, handing back some of the previous session’s gains as investors digest more influential quarterly earnings.
Here are some of the biggest premarket U.S. stock movers today:
Goldman Sachs (NYSE: GS) stock rose 0.2% in volatile trade after the investment bank's profit came in better than expected in the third quarter, but was still weighed down by a writedown on its GreenSky fintech business and its investments in real estate.
Bank of America (NYSE: BAC) stock rose 1% after the banking giant's third quarter results beat expectations, with net interest income rising 4%, driven by higher interest rates and loan growth.
Tesla (NASDAQ: TSLA) stock fell 0.4% after the EV manufacturer has been told to recall just under 55,000 Model X vehicles manufactured between 2021-2023, as the vehicle controller is likely to fail to detect low brake fluid and not display a warning light.
- Lockheed Martin (NYSE: LMT) stock fell 1.7% after sales at the defence giant's aeronautics unit, the largest by size, saw a 5.2% decline in the third quarter, even as it reported higher third-quarter revenue.
Microsoft (NASDAQ: MSFT) stock fell 0.4% after the tech giant’s LinkedIn unit said it would lay off more than 600 employees across in the second round of job cuts this year for the social media network for professionals amid slowing revenue growth.
Bank of NY Mellon (NYSE: BK) stock rose 0.6% after the lender beat estimates for third-quarter profit, as rate hikes by the Federal Reserve bolstered its income from loans.
Johnson & Johnson (NYSE: JNJ) stock rose 1.5% after the drugmaker raised its 2023 profit forecast, helped by resilient demand for its anti-inflammatory drug Stelara and recorded a $21 billion gain from the spin off of its consumer health unit.
Wyndham Hotels & Resorts (NYSE: WH) stock soared over 15% after Choice Hotels (NYSE: CHH), down 6%, disclosed it made an offer to its rival for about $7.8 billion in a cash and stock deal.
Ericsson (BS:ERICAs) ADRs fell 4.8% after the Swedish telecom gear maker booked a near $3 billion impairment charge related to its acquisition last year of Vonage, and said core profits fell in the third quarter as demand tumbled in North America.
NetScout Systems (NASDAQ: NTCT) stock slumped 20% after the enterprise software firm lowered its 2024 revenue and profit forecasts.
SunPower (NASDAQ: SPWR) stock fell 8.5% after Morgan Stanley downgraded its stance on the solar energy company to ‘underweight’ from ‘equal weight’, citing, among other factors, a possible capital raise to maintain liquidity.