Thursday, June 13, 2024
HomeBusinessBig banks, Facebook, Tesla & more

Big banks, Facebook, Tesla & more


Related stories

5 Reasons AI Will Revolutionize Investment

If you’re an investor in the stock market, you...

Advantages of Financial Advisory Services in Retirement Planning

Planning for retirement can be both exciting and daunting....

Uncovering the Mysteries of Mount Hayes: A Expedition

History and Exploration of Mount Hayes Mount Hayes...

What are Electrical Control Panels and Why Do You Need One?

Our lives are fueled by electricity. From the moment...

Tammy Slaton Shares New Video, Flaunts Incredible Weight Loss

Tammy Slaton is clearly very proud of the progress...


Take a look at some of the biggest movers in the premarket:

Big banks – Goldman Sachs (GS), Bank of America (BAC), Morgan Stanley (MS), JPMorgan Chase (JPM) and Wells Fargo (WFC) all announced dividend increases after passing the Fed’s latest stress tests. Morgan Stanley and Wells Fargo both doubled their dividends, while Citigroup (C) was the only one of the six largest banks to keep its dividend unchanged. Morgan Stanley rose 3.3% in the premarket, with Goldman up 1.4%.

Facebook (FB) – Facebook remains on watch after a late Monday jump which saw it surge past the $1 trillion mark in market value. That followed a court decision that dismissed both federal and state antitrust complaints against the social media giant.

Tesla (TSLA) – UBS cut its price target on Tesla shares to $660 from $730, while maintaining a “neutral” rating, noting increasing competition as well as operational delays.

Boeing (BA) – Boeing won a 200 jet order from United Airlines (UAL), which also ordered 70 Airbus jets as it modernizes its fleet. United will buy a variety of Max jets from Boeing and A321neo models from Airbus.

FactSet (FDS) – The financial information company earned $2.72 per share for its fiscal third quarter, 3 cents a share shy of estimates. Revenue came in above Wall Street forecasts. FactSet expects earnings of $10.75 to $11.15 per share for the fiscal year ending in August, compared to a current consensus estimate of $11.14 a share.

Herman Miller (MLHR) – Herman Miller reported quarterly profit of 56 cents per share, beating the consensus estimate of 39 cents a share. The office furniture maker’s revenue came in above estimates as well. Herman Miller gave a lower-than-expected earnings forecast, however, and its shares fell 1.7% in the premarket.

See also  Neena Gupta's 'Sach Kahun Toh': Candid as ever! From real life struggles as an actor to being a single mother

Jefferies Financial (JEF) – Jefferies beat Wall Street forecasts for both profit and revenue for its latest quarter, and the financial services firm also announced a 25% dividend increase. Jefferies rallied 3.3% in premarket trading.

XPO Logistics (XPO) – XPO announced that its public offering of 5 million common shares was priced at $138 per share, compared to Monday’s close of $140.61. The transportation and logistics company plans to use the funds to pay down debt and for general corporate purposes. XPO fell 1.5% in the premarket.

Herbalife Nutrition (HLF) – Herbalife was rated “buy” in new coverage at B Riley Securities, with a price target of $70 per share. The nutritional products maker’s stock closed at $53.34 on Monday. B Riley notes Herbalife’s global leadership in weight management supplements as an increasing presence in the sports/fitness category.

General Electric (GE) – Goldman Sachs named the stock a “top idea,” based in part on an upbeat view of GE’s cash flow prospects as the industrials sector recovers. Goldman rates GE “buy” with a price target of $16 compared to Monday’s close of $12.89. GE rose 1% in premarket trading.

Textron (TXT) – Textron was upgraded to “overweight” from “equal-weight” at Morgan Stanley, based on a rebound in the use of business jets as well as the prospects for electric vertical takeoff and landing vehicles.

FedEx (FDX) – Bank of America Securities added FedEx to its “US1” list of top picks, while maintaining a “buy” rating. BofA sees significant tailwinds for FedEx including increased pricing power, and notes that the stock is at the low end of its historical trading range.

See also  DCM Shriram Q3 profit after tax up 38% at Rs 350 crore


Source link

Bellie Brown
Bellie Brown
Hi my lovely readers, I am Bellie brown editor and writer of I write blogs on various niches such as business, technology, lifestyle., health, entertainment, etc as well as manage the daily reports of the website. I am very addicted to my work which makes me keen on reading and writing on the very latest and trending topics. One can check my more writings by visiting

Latest stories