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HomeTrading RoomThe Largest Premarket Movements Are In Stocks

The Largest Premarket Movements Are In Stocks

Look at the firms that are generating news in the premarket trade.

Bank of East West Due to the positive third-quarter performance, shares increased 2.6% after UBS upgraded them to buy. Before the firm enters the fourth quarter, UBS also emphasised its ability to strengthen its balance sheet and its efforts to return capital.

Technologies SoFi — After SoFi reported a huge revenue beat for the third quarter and upgraded its projection for the entire year, shares surged 6.1%. Based on estimates from LSEG, the financial services company reported $531 million in sales compared to analysts’ expectations of $512.1 million. According to the company’s results report, higher-than-expected student loan originations for the quarter increased revenue.

McDonald’s—Shares shot up 2.8% following the fast-food juggernaut’s impressive third-quarter revenue and earnings announcement. Price rises helped McDonald’s U.S. same-store sales increase by 8.1% during the quarter.

L3Harris Technologies – Following Raymond James’ upgrade to outperform from market perform, shares increased by 1.5%. The company acknowledged the stock’s mean reversion and strengthening fundamentals. The update follows last week’s better-than-expected third-quarter earnings report from L3Harris.

Invitation Homes: Following an upgrade to outperform from Oppenheimer, the home leasing company saw a 2% increase in shares. The company said that both rent growth and occupancy had stabilised, which may support share price growth through 2024.

Source (CNBC)

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