Bank of America, Pinterest, Masimo & more

A pedestrian walks by the Pinterest headquarters on April 09, 2019 in San Francisco.

Justin Sullivan | Getty Images

Check out the companies making the biggest moves before the bell:

Bank of America — Bank of America added 0.4% in the premarket after beating top and bottom line estimates for the second quarter. BofA’s results were helped by more profitable lending, boosted by higher interest rates.

related investing news

This is Morgan Stanley's favorite card issuer heading into second-quarter earnings


Bank of N.Y. Mellon — The bank reported better-than-expected profit and revenue for the second quarter. Like BofA, Bank of N.Y. Mellon benefited from the impact of higher interest rates. However, the stock fell more than 1%

PNC Financial — PNC fell 2.7% in the premarket after posting lower-than-expected quarterly revenue, even as earnings beat forecasts. Deposits and net interest income both fell at PNC.

Verizon, AT&T — Verizon gained 1% in premarket trading, while AT&T rose 0.7%. Both have been tumbling in recent days, with AT&T hitting its lowest level since 1993 Monday and Verizon dipping to its lowest since 2010. Analysts have been concerned about potential liability from miles of lead-encased cables across the U.S.  

Masimo — Masimo plummeted 28% in the premarket after the medical device maker forecast lower than expected sales for its second quarter, as hospitals cut back on equipment spending amid increased personnel costs.

Novartis — Novartis jumped 2.9% in premarket action after the drug maker raised its full-year outlook on strong pharmaceutical sales. Novartis also said its planned spin-off of generic drug division Sandoz would take place early in the fourth quarter.

Pinterest — Pinterest rallied 3.3% in off-hours trading following an upgrade to “outperform” from “in-line” at Evercore ISI. Evercore said it sees digital ad spending stabilizing, with indications of a recovery in the second half of the year.

Norwegian Cruise Line — The cruise line operator’s stock slid 1.8% in premarket action after Truist downgraded the stock to a hold from a buy. The firm is bullish on cruise industry trends but notes the stock’s recent outperformance.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *