Stocks making the biggest moves premarket: Johnson & Johnson, Goldman Sachs, Sunrun and more
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Check out the companies making headlines before the bell on Tuesday.
Goldman Sachs — The investment bank said first quarter revenue totaled $12.22 billion, below the $12.79 billion consensus estimate of analysts polled by Refinitiv. Fixed income, currencies and commodity trading was $3.93 billion in the first quarter, well below the $4.16 billion Wall Street estimate, according to FactSet. Goldman shares declined by nearly 4%. Goldman also said it took a $470 million hit tied to the sale of consumer loans in its Marcus unit.
Johnson & Johnson — The drug and consumer products maker said first quarter sales rose 5.6% to $24.75 billion, above the $23.67 billion consensus estimate of analysts polled by Refinitiv. Adjusted earnings came in at $2.68 per share ex-items, above the consensus estimate of $2.50. The CEO noted «strong performance» across all three business segments with the company raising 2023 guidance midpoints. Shares of the Dow Industrials constituent gained more than 1% premarket.
Bank of America — The Charlotte-based bank gained about 1.8% after topping first-quarter expectations on the top and bottom lines as interest rates rose. Higher rates helped boost BofA's net interest income by 25% to $14.4 billion in the period.
Sunrun — The residential solar energy company's shares rose 4.2% after KeyBanc upgraded the stock to overweight from sector weight. The bank said Sunrun could rally more than 31% from Monday's close as it gains market share in California. Shares are down 14.4% year to date.
Nvidia — Shares of the chipmaker rose 2.4% Tuesday after HSBC upgraded the stock two levels, to buy from reduce. The firm said Nvidia is showing it has more power in pricing artificial intelligence
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