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Check out the companies making headlines before the bell:
BlackRock (BLK) – BlackRock earned an adjusted $10.42 per share for the fourth quarter, beating the consensus estimate of $10.16, although revenue for the asset manager was slightly below forecasts. Assets under management rose above the $10 trillion mark for the first time.
JPMorgan Chase (JPM) – JPMorgan beat estimates by 32 cents with quarterly earnings of $3.33 per share, while revenue topped forecasts as well. The bank was helped by strong performance at its investment banking unit, but results at its trading operation slowed. JPMorgan shares fell 2.7% in the premarket.
Wells Fargo (WFC) – Wells Fargo gained 2.3% in the premarket after beating estimates on the top and bottom lines for the fourth quarter. Wells Fargo earned an adjusted $1.25 per share, 12 cents above estimates. Overall profit was boosted by the release of loan loss provisions and improving loan demand.
Sherwin-Williams (SHW) – The paint company's stock fell 3.3% in premarket action after it cut its full year forecast amid supply chain issues that it expects to persist through the current quarter. Sherwin-Williams did say demand remains strong in most of its end markets.
Macau casino stocks – Las Vegas Sands (LVS), Wynn Resorts (WYNN), Melco Entertainment (MLCO) and MGM Resorts (MGM) rallied in premarket trading after Macau's government said it would limit the number of casino licenses to six. These companies are among the six operating in Macau, with their current licenses due to expire this year. Las Vegas Sands rocketed 10.7%, Wynn surged 10%, Melco soared 12.9% and MGM added 4%.
Walt Disney (DIS) – Disney lost 1.6% in premarket trading after Guggenheim downgraded the stock
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