Take a look at some of the biggest movers in the premarket:
Goldman Sachs (GS) – Goldman gained 2.6% in premarket trading, following upbeat profit and revenue. Second-quarter earnings came in at $ 7.73 per share, compared to a consensus estimate of $ 6.58 a share. Goldman’s profit dropped from a year ago, however, as the pace of dealmaking slowed.
Synchrony Financial (SYF) – The financial services company’s stock rallied 3.5% in the premarket after it reported better-than-expected profit and revenue for the second quarter. Synchrony pointed to upbeat loan growth and credit trends, with consumers remaining strong.
Coinbase (COIN) – Coinbase rallied 6.5% in premarket action, with the cryptocurrency exchange operator’s stock one of several crypto-related stocks rising after the value of bitcoin and ether surged in overnight trading.
Bank of America (BAC) – Bank of America fell 2 cents a share shy of estimates with quarterly earnings of 73 cents per share, though revenue came in slightly above Wall Street forecasts. Bank of America’s results were impacted by a sharp drop in investment banking revenue. The stock initially fell 1.7% in the premarket but then pared those losses.
Twitter (TWTR) – Elon Musk filed a court motion late Friday seeking to deny Twitter’s request for an expedited trial over his move to terminate his $ 44 billion takeover deal.
Boeing (BA) – Boeing announced that Delta Air Lines (DAL) had ordered 100 Boeing 737 Max jets, and also said that the company was very close to resuming deliveries of its 787 Dreamliner. Boeing jumped 4.2% in premarket trading.
Seagen (SGEN) – The closing of Merck’s (MRK) $ 40 billion deal to buy Seagen will be delayed, according to people familiar with the matter who spoke to The Wall Street Journal. The delay stems from a wait for data evaluating a study of a Seagen treatment. The stock slid 2.9% in the premarket.
Starbucks (SBUX) – Starbucks rose 1.% in the premarket after the Sunday Times reported that the coffee chain is exploring a possible sale of its UK operations.
GlaxoSmithKline (GSK) – The company formerly known as GlaxoSmithKline completed the spin-off of its consumer health business into a separate company known as Haleon, which contains well-known brands such as Advil and Sensodyne. GSK fell 1.3% in the premarket.
Paramount Global (PARA) – The media company’s stock lost 1.8% in premarket trading after Morgan Stanley downgraded it to “underweight” from “equal-weight,” noting the possibility of advertisers and consumers pulling back in a recession scenario.
Fresh Del Monte Produce (FDP) – The fruit and vegetable company’s stock rose 2.8% in premarket trading after Bloomberg reported that private-equity firm I Squared Capital is considering a takeover, as one option to expand a partnership agreement struck in 2021.