Stocks making the biggest moves in the premarket: JPMorgan Chase, PNC Financial, Disney & more
Take a look at some of the biggest movers in the premarket:
JPMorgan Chase (JPM) – The bank reported fourth-quarter earnings and revenue that topped Wall Street forecasts. Strong trading and investment banking results were among the factors helping the company’s bottom line.
PNC Financial (PNC) – PNC reported better-than-expected revenue and earnings for the fourth quarter, saying operational results were solid and it recaptured some credit reserves thanks to an improving economy. Shares of PNC fell 1.4% in premarket trading as of 7:40 a.m. ET.
Walt Disney (DIS) – Disney ended its annual pass program for Disneyland, citing uncertainty about when the park would reopen and the limitations that may be imposed on it when it does. The park has been closed for 10 months, and Disney plans to issue pro-rated refunds to current annual pass holders.
Whirlpool (WHR) – Whirlpool and other appliance makers are on watch, after President Donald Trump extended tariffs on large residential washing machines for another two years. They were imposed in 2018 and were set to expire on Feb. 8.
Playtika (PLTK) – Playtika priced its initial public offering at $27 per share, above the target range of $22 to $24 per share. The mobile gaming company’s stock will begin trading today on the Nasdaq.
Amazon.com (AMZN) – Amazon is the target of a class-action lawsuit, accusing the company of colluding with publishers to inflate the price of electronic books. About 90% of all e-books are sold through Amazon.
SAP (SAP) – SAP is forecasting flat revenue and a decline in profit for 2021, although the German business software company’s fourth-quarter results did beat analyst forecasts. The company had dropped medium-term profit targets last quarter, cautioning that a rebound from the pandemic would take longer than expected.
Petco (WOOF), Poshmark (POSH) – These stocks remain on watch after successful Wall Street debuts Thursday. Petco jumped 63% from its initial public offering price on its first day of trading, while Poshmark had 2021’s best IPO debut day with a jump of nearly 142%.
Accolade (ACCD) – Accolade is buying telehealth startup 2nd.MD for about $460 million, as the health care services provider seeks to expand its presence in the growing virtual medical services market.
Teva Pharmaceutical (TEVA) – The generic pharmaceutical company announced it was launching a generic version of Merck’s (MRK) NuvaRing birth control device in the U.S. market.
Fast Acquisition (FST) – The special purpose acquisition company is moving higher once again in pre-market trading following a Bloomberg report that billionaire Tilman Fertitta was in talks to list his casino and dining assets through a $7 billion merger. The stock rose 8% Thursday when that report first broke. Sources confirmed the talks to CNBC, but Fertitta told CNBC he was unable to comment on market rumors.
Zoom Video (ZM) – The messaging platform is higher in pre-market trading after Bernstein named Zoom a top 2021 stock pick. The firm points to Zoom’s recent announcement that paid seats have passed the 1 million mark.
