Investing
JPMorgan, Wells Fargo and BlackRock rise premarket; Boeing, Lucid fall
© Reuters.
By Peter Nurse
Investing.com — Stocks in focus in premarket trade on Friday, April 14th. Please refresh for updates.
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JPMorgan (NYSE:) stock rose 5.9% after the banking giant a 52% jump in first-quarter profit with record revenues, helped by strong results in its consumer business in a period that saw two of the biggest banking failures in U.S. history.
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Wells Fargo (NYSE:) stock rose 2.9% after the lender a rise in sharp profit as it earned more from interest rate payments in the first quarter, helped by the U.S. Federal Reserve’s tighter monetary policy.
- PNC Financial (NYSE:) stock rose 1.3% after the regional lender an 18.5% rise in first-quarter profit, as the Fed’s rate hikes fueled a surge in its net interest income.
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Boeing (NYSE:) stock fell 5.7% after the aircraft manufacturer halted deliveries of some 737 MAXs as it grapples with a new supplier quality problem from Spirit AeroSystems (NYSE:), which fell over 13%.
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Lucid Group (NASDAQ:) stock fell 6.4% after the luxury electric car manufacturer first-quarter production and delivery figures that were lower than the preceding three months, as it struggles with supply chain and logistics issues.
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Tesla (NASDAQ:) stock fell 0.8% after the electric car maker lowered the price of its Model 3 in Germany, according to data on its website, in a bid to spur demand.
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Hartford Financial (NYSE:) stock fell 2.2% after the insurer warned its first-quarter earnings could be weaker than previously expected, weighed by catastrophic losses from winter storms.
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BlackRock (NYSE:) stock rose 1.5% after assets at the world’s largest asset manager jumped to $9.09 trillion in the first quarter as depositors sought cover following the collapse of several U.S. banks.
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UnitedHealth (NYSE:) stock rose 0.9% after the healthcare and insurance company Wall Street estimates for quarterly profit on Friday and raised its annual forecast, helped by lower medical costs at its insurance unit.
Read the full article here
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