Look at the businesses making news just before the bell:
After exceeding analysts’ third-quarter projections, UnitedHealth, the largest health insurer by sales, saw a rise of more than 1%. The corporation, which is a constituent of the Dow Jones Industrial Average, reported adjusted earnings of $6.56 per share on $92.4 billion in revenue. On $91.37 billion in revenue, analysts surveyed by LSEG projected $6.32 in profits per share.
BlackRock — BlackRock declined 1.8% in the premarket after missing sales projections for the third quarter. Revenue of $4.52 billion, which was less than the $4.54 billion average estimate from LSEG, was announced by the asset manager. Earnings at Blackrock above expectations, coming in at $10.91 adjusted per share compared to an estimate of $8.26.
After disclosing its third-quarter earnings, PNC Financial Services Group, based in Pittsburgh, fell by 0.2%. As opposed to the $5.32 billion analysts surveyed by LSEG, actual revenue came in at $5.23 billion. However, earnings were more than expected, coming in at $3.60 per share as opposed to $3.11 per share as predicted.
Dollar General—After Gordon Haskett raised shares to a buy rating, Dollar General saw a 7% increase. According to the Wall Street firm, the most recent leadership move at the bargain retailer may assist to stabilise the business.
JPMorgan Chase & Co.—The biggest bank in the nation—reported third-quarter financial results on Friday, increasing its profit from a year earlier to $4.33 per share—a figure that was not immediately comparable to LSEG estimates. Compared to the LSEG projection of $39.63 billion, the actual revenue for the quarter was $40.69 billion. Early morning trading saw minimal change in the share price.
The Wells Fargo — As third-quarter earnings and revenue above expectations, Wells Fargo gained close to 2%. More than the $20.11 billion analysts polled by LSEG had predicted, the bank reported revenue of $20.86 billion. Although results were not directly comparable, the bank’s earnings per share of $1.48 for the quarter, or $1.39 removing discrete tax benefits, seemed to surpass the LSEG consensus per-share earnings of $1.24.
After exceeding third-quarter sales forecasts, Citigroup’s stock increased by 2%. More than the $19.31 billion average expectation from LSEG, the Jane Fraser-led bank recorded revenue of $20.14 billion. Earnings weren’t right away comparable.
JD.com – Premarket trading saw a more than 4% decline in JD.com share prices. Due to sluggish customer demand, Morgan Stanley lowered its price target and downgraded the Chinese e-commerce company to equal-weight.
Source (CNBC)
