Stocks making the biggest moves before the bell: JPMorgan Chase, Wells Fargo, PNC, Lucid, Express & more
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Check out the companies making headlines in premarket trading.
JPMorgan Chase – The banking behemoth popped more than 5% after posting record revenue that surpassed analyst expectations due to higher interest rates. JPMorgan Chase reported revenue of $39.34 billion, beating the $36.19 billion estimates for analyst polled by Refinitiv.
Wells Fargo — The bank added 3.1% after beating Wall Street expectations when reporting earnings. Earnings per share came in at $1.23, 10 cents higher than analysts polled by Refinitiv anticipated. The company reported revenue at $20.73 billion, which is higher than the $20.08 expected by Wall Street.
BlackRock — The investment management company added 1.6% after reporting first-quarter earnings. BlackRock reported $7.93 in adjusted earnings per share, higher than the estimate of $7.76 from analysts polled by Refinitiv. Revenue was in line with expectations at $4.24 billion.
PNC — Shares rose 1.3% after the bank reported first-quarter earnings. PNC reported $3.98 in earnings per share, beating the $3.67 expected by analysts. The bank said revenue came in at $5.60 billion, slightly below expectations of $5.61 billion. PNC also reported a slight increase in deposits, while noting its provision for credit losses was down from the previous quarter.
Citigroup — Shares rose 2.5% after the bank's revenue for the first quarter topped expectations.
Express — Express jumped 18% on news that the apparel brand, along with WHP Global, would buy e-commerce apparel company Bonobos from Walmart.
Lucid — The luxury electric vehicle maker dropped 6.6% after reporting that it delivered fewer of its Air sedans to customers than it produced in the first quarter, which can be seen as a sign of
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