December 11, 2023

Check out the companies making headlines in premarket trading.

JPMorgan – Shares soared more than 5% after the banking giant reported record revenue that beat analysts’ expectations amid rising interest rates. JPMorgan reported revenue of $39.34 billion, topping the $36.19 billion estimate of analysts polled by Refinitiv.

FuGuo bank — The bank rose 3.1 percent after it beat Wall Street expectations when it reported earnings. Earnings of $1.23 per share were 10 cents above analysts’ expectations in a Refinitiv poll. The company reported revenue of $20.73 billion, beating Wall Street expectations of $20.08.

black stone — The investment management firm rose 1.6% after reporting first-quarter earnings. BlackRock reported adjusted earnings of $7.93 a share, topping the $7.76 estimate of analysts polled by Refinitiv. Revenue was in line with expectations at $4.24 billion.

police — Shares rose 1.3 percent after the bank reported first-quarter earnings. PNC reported earnings of $3.98 per share, beating analysts’ expectations of $3.67. The bank said revenue was $5.6 billion, slightly missing expectations of $5.61 billion. PNC also reported a slight increase in deposits, while noting that its provision for credit losses was down from the previous quarter.

Citigroup — Shares rose 2.5 percent after the bank’s first-quarter revenue topped expectations.

Express — Express rose 18% as the apparel brand and WHP Global will acquire e-commerce apparel company Bonobos walmart.

sober — The luxury electric carmaker fell 6.6% after it reported that it delivered fewer Air sedans to customers than it produced in the first quarter, which could be seen as a sign of weak demand. The company’s delivery numbers also fell short of analysts’ expectations.

Rivian — Shares fell 2.5% after Piper Sandler downgraded its rating to neutral from overweight.The company said it will need to address funding headwinds to compete with tesla. Tesla shares fell 1% premarket.

joint health – Shares of UnitedHealth (UnitedHealth ) edged higher after the health insurer topped Wall Street estimates for revenue and profit and raised its profit forecast for 2023. The company reported adjusted earnings per share of $6.26 on revenue of $91.93 billion. Analysts had expected earnings of $6.13 a share on revenue of $89.78 billion, according to Refinitiv data.

Boeing — Boeing Co said it may have to reduce deliveries of its 737 Max planes due to problems with parts made by suppliers, shares fell 5.9% premarket, Spirit Aerosystems. Spirit AeroSystems shares fell 14%.

amazon — Shares fell slightly as investors continued to analyze CEO Andy Jassy’s annual shareholder letter. Both Bank of America and UBS said they would maintain their buy ratings on the stock following the publication of the letter.

hello group — The Chinese entertainment company rose 5.2% after JPMorgan upgraded the stock to overweight from neutral. JPMorgan Chase said that Hello Group is a preferred stock in the field of live broadcasting.

charisma therapy — The clinical-stage biopharmaceutical company rose 3.2 percent after Baird initiated an outperform rating on the stock. The company said it was optimistic ahead of new data expected later this year.

LiveOne — Shares rose 2.1% after Roth MKM initiated coverage on audio stocks with a buy rating. The company said the stock has room to rise as a subsidiary is being spun off.

VF Corporation. — The parent company of apparel retailers including Vans and The North Face rose 5% after Goldman Sachs upgraded its shares, saying the company’s latest strategic move could boost the stock. Goldman Sachs said the stock could rise more than 20% due to VF’s strong management strategy and new products.

— CNBC’s Jesse Pound, Samantha Subin, Michelle Fox and Tanaya Macheel contributed reporting