Stocks making the biggest moves premarket: Goldman Sachs, Morgan Stanley, Apple, Boeing and more
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- January 16, 2024
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Check out the companies making headlines before the bell: Goldman Sachs — Goldman Sachs shares rose 1.3% after the Wall Street firm reported $11.32 billion in revenue, topping the LSEG consensus estimate of $10.80 billion. Earnings per share came in at $5.48, but it was not immediately clear if that was comparable to the $3.51 per share estimate.
Morgan Stanley — Morgan Stanley shares dropped 0.3% even after the bank reported revenue of $12.90 billion, better than the $12.75 billion expected by analysts polled by LSEG. The company reported 85 cents earnings per share, though it was not clear if that was comparable to the $1.01 consensus estimate.
Tesla — Tesla shares slid 1.5% after CEO Elon Musk said Monday that he wants about 25% voting power over his electric vehicle business. He currently owns about 13% of Tesla. PNC Financial Services — Shares fell 1.7% after PNC Financial Services Group issued first quarter net interest income guidance of a loss of 3% to 2%.
Boeing — Shares of the aerospace giant dipped 2% after Wells Fargo downgraded Boeing to equal weight from overweight. The investment firm warned that the ongoing regulatory audit of Boeing's production could uncover more quality problems for the company. Uber Technologies — Uber declined about 1% after Axios reported the ridehailing company decided to shut down alcohol delivery service Drizly.
Uber bought Drizly three years ago in a $1.1 billion transaction. Apple — Apple shares pulled back 1.5% after Reuters reported the iPhone maker is offering a rare discount in China, cutting retail prices of some of its smartphones by 5%. Applied Digital — Shares of the datacenter company gained more than 3% ahead of Applied Digital's latest quarterly results.
Starbucks — Shares rose by 0.7% after Morgan Stanley upgraded the coffee chain to overweight from equal weight. Morgan Stanley said the company still has a strong brand despite recent weakness. Elsewhere, Haskett downgraded Starbucks to hold from buy, citing decreased expectations for upside and upward earnings revisions.
Synopsys , Ansys — Shares of both companies were halted in premarket trading after a Reuters report , citing people familiar, said design software company Synopsys is set to acquire engineering software company Ansys in a roughly $35 billion cash and stock transaction. Synopsys was last lower by 0.9%.
Ansys was higher by 1.9%. — CNBC's Alex Harring and Jesse Pound contributed reporting.