At Extreme Investor Network, we keep a close eye on the companies making headlines in the world of finance. Today, we are excited to share with you some key updates on major players in the market.
Bank of America kicked things off with a 1% increase in shares following a strong third-quarter performance. The bank’s earnings and revenue surpassed Wall Street analysts’ estimates, with earnings coming in at 81 cents per share and revenue hitting $25.5 billion.
Next up, Johnson & Johnson saw a slight rise in shares during premarket trading as quarterly results exceeded expectations, thanks to strong sales of oncology drugs. The health-care giant also raised forward financial guidance for full-year 2024 profit and sales.
Goldman Sachs had a standout quarter, with shares jumping more than 2% on better-than-expected earnings. The investment bank reported earnings per share of $8.40 on $12.70 billion in revenue, outperforming analysts’ forecasts.
On the flip side, UnitedHealth Group saw a 3.2% decline in its stock price despite posting a top- and bottom-line beat in the third quarter. The company lowered its earnings guidance due to ongoing challenges from a cyberattack earlier in the year.
Walgreens Boots Alliance had reason to celebrate, with a 5% jump in shares after fiscal fourth-quarter sales and profit exceeded expectations. The retail drugstore chain also unveiled plans to close roughly 1,200 stores over the next three years to increase adjusted earnings and free cash flow.
Citigroup and PNC Financial both reported better-than-expected third-quarter earnings, with their shares rising 1.7% and 0.8% respectively during premarket trading.
Etsy faced a setback as shares tumbled more than 5% following a downgrade from Goldman Sachs to sell from neutral. The investment bank cited concerns about compressed profit margins and market share losses.
Coty also faced challenges, with shares falling 4% after the beauty company warned of a slower U.S. market in preliminary fiscal first-quarter results.
On a positive note, Charles Schwab surged more than 7% after reporting third-quarter results that beat analysts’ estimates. The brokerage company saw strong revenue growth and record year-to-date inflows in its wealth advisory division.
Enphase Energy, however, saw a 1.8% decrease in shares after a downgrade from RBC Capital Markets, which expects a slower pace of growth next year.
Stay tuned to Extreme Investor Network for more updates on the latest trends and developments in the world of finance. Don’t miss out on valuable insights and actionable information to help you make informed investment decisions.