Check out the companies that make headlines before the call:
BlackRock (BLK) — BlackRock earned an adjusted $10.42 per share in the fourth quarter, beating the consensus estimate of $10.16, although the asset manager’s revenue came in slightly below forecasts. Assets under management surpassed the $10 trillion mark for the first time.
JPMorgan Chase (JPM) – JPMorgan beat estimates by 32 cents with quarterly earnings of $3.33 per share, and revenue also beat forecasts. The bank was helped by the strong results of its investment banking division, but its trading performance slowed down. Shares of JPMorgan fell 2.7% in premarket trading.
Wells Fargo (WFC) – Wells Fargo added 2.3% in premarket trading after outperforming its top and bottom line estimates for the fourth quarter. Wells Fargo posted adjusted earnings of $1.25 per share, up 12 cents from estimates. Overall profit increased due to the release of provisions for possible loan losses and improved demand for loans.
Sherwin-Williams (SHW) – Shares in the paint company fell 3.3% in premarket trading after it cut its full-year guidance due to supply chain problems expected to persist into the current quarter. Sherwin-Williams said demand remains strong in most end markets.
Macau casino shares – Las Vegas Sands (LVS), Wynn Resorts (WYNN), Melco Entertainment (MLCO) and MGM Resorts (MGM) rose in premarket trading after the Macau government said it would limit the number of casino licenses to six. These companies are among six companies operating in Macau, with their current licenses expiring this year. Las Vegas Sands was up 10.7%, Wynn was up 10%, Melco was up 12.9% and MGM was up 4%.
Walt Disney (DIS) – Disney shed 1.6% in pre-market trading after the Guggenheim downgraded the stock to Neutral from Buy, reflecting lowered guidance for Disney’s consumer-facing business and parks.
Boston Beer (SAM) – Boston Beer shares fell 8% in premarket trading after the brewer cut its full-year profit guidance. The company is facing supply chain issues as well as a slowdown in the growth of its Truly hard Seltzer brand.
Virgin Orbit (VORB) — Virgin Orbit successfully launched seven small satellites Thursday, the first launch since the company went public last month. Shares rose 1.1% in premarket trading.
BJ’s Wholesale (BJ) – BJ shares shed 3% in premarket trading after JP Morgan Securities downgraded the warehouse retailer’s stock from neutral to undermarket, reflecting concerns about inflation and a pullback in consumer stimulus measures.
Bausch Health (BHC) – Shares of Bausch Health rose 3.2% in premarket trading after news that its eye care company Bausch + Lomb filed for a public offering and reported a jump in sales in the nine months ended September. Bausch Health will remain the majority owner of Bausch + Lomb.