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Shares of Bank of America rose 1% after third-quarter earnings and revenue surpassed analysts’ expectations. Earnings came in at 81 cents, beating the 77 cents forecasted by analysts. Revenue was $25.5 billion, higher than the $25.3 billion consensus estimate. Johnson & Johnson’s shares also increased slightly in premarket trading as quarterly results exceeded expectations, driven by strong sales of oncology drugs. The company also raised its forward financial guidance for full-year 2024 profit and sales. Goldman Sachs saw a more than 2% jump in shares following better-than-expected quarterly earnings. The investment bank reported earnings per share of $8.40 on $12.70 billion in revenue, surpassing analyst estimates. UnitedHealth Group, despite posting a top- and bottom-line beat in the third quarter, saw its stock decline by 3.2%. The company lowered its earnings guidance due to ongoing challenges from a cyberattack earlier in the year. Walgreens Boots Alliance surged 5% after fiscal fourth-quarter sales and profit exceeded analysts’ expectations. The company announced plans to close approximately 1,200 stores over the next three years to increase adjusted earnings and free cash flow. Citigroup’s shares added 1.7% after reporting better-than-expected third-quarter earnings and revenue. Citigroup posted earnings per share of $1.51 on $20.32 billion in revenue, outperforming analyst expectations. PNC Financial gained 0.8% during premarket trading after reporting earnings per share of $3.49, beating estimates. Etsy’s shares dropped more than 5% following a downgrade by Goldman Sachs from neutral to sell. Coty’s stock fell 4% after the beauty company warned of a slower U.S. market in preliminary fiscal first-quarter results. Charles Schwab surged over 7% after reporting third-quarter results that surpassed analysts’ estimates. Enphase Energy saw a 1.8% drop in shares after a downgrade by RBC Capital Markets, citing a slower pace of growth expected next year. Enphase, known for its solar micro-inverters, electric vehicle charging stations, and battery storage units, has seen a decline of over 20% this year.
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Emily Jensen, graduated from the London School of Economics and Political Science (LSE) in the UK in 2015 with a degree in Economics. She specializes in financial markets and international trade. After graduating, she worked as an analyst at an investment bank in London, where she developed expertise in global economic trends. She later transitioned into consulting, focusing on fintech ventures and providing insights into global economic developments. Emily is passionate about the intersection of finance and technology and aims to drive innovation in the financial sector.
