Stocks In Focus In Premarket Trading
- Bank of America (NYSE: BAC) fell 0.5% by 8:15 AM ET (12:15 GMT) after it reported a miss on revenue, even as earnings per share were higher than expected. The company’s first-quarter results were largely driven by consumer banking, with net income up 25% to $3.2 billion.
- Netflix (NASDAQ: NFLX) jumped 1.8% after Deutsche Bank (DE: DBKGn) upgraded the streaming company to buy from hold ahead of its earnings reports after the closing bell on Tuesday.
- BlackRock (NYSE: BLK) fell 0.6% after the asset manager reported a 3.3% drop in quarterly profit, due to investors turning away from its more expensive products to its low risk, inexpensive funds. The news offset its higher than expected earnings and revenue for the first quarter.
- UnitedHealth Group (NYSE: UNH) jumped 3% after its earnings reports beat estimates and it raised its 2019 forecast.
- AT&T (NYSE: T) inched up 0.5% on news that it is selling back its stake in Hulu for $1.43 billion, which gives more control of the company to Walt Disney (NYSE: DIS).
- Johnson & Johnson (NYSE: JNJ) skyrocketed 1.9% after its earnings per share and revenue were better than expected. The company reported an EPS of $1.39 on revenue of $20 billion.