Aaron Newsom, left, a plumber for the solar company, Sunrun, and Tim McKibben, a senior plumber, are preparing solar panels to be installed on the roof of a house in Granada Hills.
Mel Melcon | Los Angeles Times | Getty Images
Check out the companies that make headlines before the bell:
Morgan Stanley (MS) – Morgan Stanley exceeded analysts’ expectations for first-quarter earnings based on better-than-expected bond trading results by sending shares to the premarket. The large US bank reported earnings of $ 2.19 per share on revenue of $ 15.72 billion.
Sunrun (RUN) – The shares of the residential solar company increased by 3% after Simmons Energy updated the stock to an “overweight” rating. In a note to customers, the company said the company has a strong growth story and that the recent weakness presents an attractive buying opportunity.
Cisco (CSCO) – Cisco shares rose 1.1% in premarket trading on Friday after Wolfe Research updated its equity to “outperform.” Analyst Jeff Kvaal wrote that “strong IT spending should prove a wind behind Cisco estimates” by fiscal year 2022 and said stocks should rise to $ 63, up 22% from closing. Thursday.
PNC Financial (PNC) – The bank’s stock fell 1.9% in premarket trading, even after PNC exceeded estimates for the top and bottom lines for its first-quarter report. PNC reported earnings per share of $ 4.10, with revenues of $ 4.22 billion. Analysts surveyed by Refinitiv created $ 2.75 per share and $ 4.12 billion in revenue. The bank’s net interest margin fell and missed expectations, according to FactSet.
Comcast (CMCSA) – Comcast shares rose 1.2% before the opening bell after Raymond James upgraded shares to a “better” rating and told customers he expected strong results in the first quarter of the part of the media giant. “We believe that the future of NBCU will be in addition to the power of HSD, the growth under Peacock, the improvement of theater revenues and the gradual reopening of theme parks,” wrote analyst Frank Louthan.
Simon Property Group (SPG) – The real estate company’s shares rose in premarket trading after Jefferies updated the shares to “buy” from “ownership”. The Wall Street firm said that “retailers’ investments, retained consumer demand and lower non-performing debts are positive catalysts” for the mall owner.
Bank of New York Mellon (BK) – The bank’s shares rose 1% in premarket trading after Bank of New York Mellon exceeded analysts’ estimates in its first-quarter report. The company earned 97 cents per share with revenue of $ 3.92 billion. Analysts surveyed by Refinitiv were looking for 87 cents a share and revenue of $ 3.85 billion.
United Airlines (UAL) – United Airlines shares appeared in premarket trading after an upgrade to “buy” from the “wait” from Argus. Wall Street said it likes the airline’s plans to limit capacity, reduce structural costs by $ 2 billion and restore margins to pre-pandemic levels.
Coinbase (COIN) – Shares of the new public cryptocurrency exchange fell in premarket trading on Friday. The weakness came despite another vote of confidence from popular investor Cathie Wood, whose Ark Invest bought about $ 110 million in shares on Thursday.
– with reports from CNBC Pippa Stevens, Jesse Pound and Tom Franck.
Disclosure: Comcast is the owner of NBCUniversal, CNBC’s parent company.