Bank of America, UnitedHealth, P&G and more

Check out the companies that make headlines before the call:

Bank of America (BAC) – Shares of Bank of America rose 3.2% in premarket trading after they outperformed estimates by 6 cents with quarterly earnings of 82 cents per share. Revenue was slightly below forecasts, but the bank’s overall performance was supported by a strong investment banking performance.

UnitedHealth Group (UNH) – UnitedHealth earned an adjusted $4.48 per share in the fourth quarter, up 17 cents from estimates, with the insurance company’s revenue also better than forecast. UnitedHealth saw particular strength in the drug benefit management business of its Optum division.

Morgan Stanley (MS) – Shares of Morgan Stanley jumped 3.5% in premarket trading after beating 10 cents on estimates with quarterly earnings of $2.01 a share, on revenue that was nearly in line with forecasts. Results were boosted by high transaction advisory fees in a very active M&A quarter.

Procter & Gamble (PG) – P&G added 1% in premarket trading after beating its fiscal second-quarter top and bottom estimates and raising its organic growth forecast. P&G beat estimates by a penny, earning $1.66 a share as consumers shrugged off a spike in home essentials.

Sony (SONY) – Sony fell 3.9% in premarket trading after falling 7.2% on Tuesday. The fall followed news of a deal by Microsoft (MSFT) to buy video game maker Activision Blizzard (ATVI) for $68.7 billion, a deal that will increase competitive pressure on Sony’s PlayStation operations.

Alliance Data Systems (ADS) – Alliance Data shed 1.7% in premarket trading after news that warehouse retailer BJ’s Wholesale (BJ) is moving its joint credit card account to Capital One (COF). Alliance has also been sued by BJ’s, which claims the store’s credit card specialist is slowing down the transfer process. The Alliance said it believes it is in full compliance with its contract.

SoFi Technologies (SOFI) – SoFi shares rose 18% in premarket trading after the fintech company received regulatory approval to become a bank holding company.

Zogenix (ZGNX) – Zogenix’s stock soared 65.9% in premarket trading after Brussels-based biopharmaceutical company UCB agreed to acquire it at $26 a share, compared to Tuesday’s closing price of $15.64 a share of Zogenix. UCB will also pay an additional $2 per share if Zogenix fintepla, a treatment for a rare type of epilepsy, receives EU approval by the end of 2023.

Tegna (TGNA) – Tegna is close to closing a $9 billion deal to be bought out by private equity firms Apollo Global Management and Standard General, according to people familiar with the situation who spoke to the New York Post. The newspaper reported that the station’s operator originally demanded an estimated $500 million break fee if the deal did not receive timely FCC approval, but has now waived that demand. Tegna shares rose 4.9% in premarket trading.

ASML (ASML) – ASML shares rose after reporting higher-than-expected earnings in the fourth quarter. The Dutch chip maker also posted an optimistic sales forecast for 2022, with shares gaining 2.2% in premarket trading.

Pearson (PSON) – Pearson raised its full-year guidance on the back of a strong performance for its education portfolio and a stronger-than-expected outlook for higher education courseware in the US. Shares of Pearson jumped 7.2% in premarket trading.

Correction: According to the New York Post, Tegna was asking for a gap fee of about $500 million in a deal that was to be bought out by private equity firms. In an earlier version of this story, this figure was garbled.

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