Several major companies are seeing significant stock movements in premarket trading today
New York: Check out the companies making headlines in premarket trading. UnitedHealth Group saw its shares drop over 3% after reporting fourth-quarter revenue that fell short of Wall Street’s expectations. They posted $100.81 billion, while analysts were looking for $101.76 billion. On the bright side, their earnings did beat estimates.
Then there’s Morgan Stanley, which gained 1% after its fourth-quarter results exceeded expectations, thanks to a 29% jump in investment banking. They reported earnings of $2.22 per share on $16.22 billion in revenue, beating the forecast of $1.70 per share.
Target’s stock was pretty much flat after the retailer raised its fourth-quarter sales guidance. They now expect comparable store sales to rise by 1.5%, which is better than their previous forecast.
Southwest Airlines saw a 2% drop in its stock after Citi downgraded it from neutral to sell. They mentioned that the airline’s earnings quality and cash flow have worsened since before the pandemic.
On a positive note, Taiwan Semiconductor Manufacturing’s stock rose 4% after they issued higher-than-expected revenue guidance for the current quarter, predicting between $25 billion and $25.8 billion.
US Bancorp, based in Minneapolis, fell 2.9% after reporting mixed results. Their adjusted earnings per share were slightly above estimates, but their net interest margin was a bit below what analysts expected.
Bank of America reported fourth-quarter results that topped expectations, with earnings of 82 cents per share on $25.5 billion in revenue, which was better than what analysts were predicting.
DuPont’s shares were flat after they announced they wouldn’t spin off their water division but would instead speed up the separation of their electronic business.
Lastly, Sezzle’s stock surged 26% after the fintech company updated its guidance, expecting revenue for the year to exceed their previous forecast of 55% growth. — CNBC’s Michelle Fox, Jesse Pound, Pia Singh, Alex Harring, and Sean Conlon contributed reporting.
