Bank of America, Coinbase, Dell and more

Check out some of the biggest movers in the premarket:

Bank of America (BAC) – The Wall Street banks’ strong earnings start season continued with a blow to the upper and lower limits for Bank of America. The bank released $ 2.7 billion in reserves for loan losses, boosting profits. Shares rose 1.2% before the bell.

Coinbase (COIN) – The cryptocurrency exchange continued its volatile start as a publicly traded company, with stocks surging more than 7% in premarket trading. The stock started trading at $ 381 a share on direct listing on Wednesday and rose in its opening minutes, but the stock was reversed later in the day and Coinbase closed close to $ 328 a share. Additionally, Coinbase’s BTIG coverage started with a “buy” rating.

Dell (DELL) – Shares in the technology company skyrocketed after Dell announced it had decided to wind down its 81% stake in VMWare. Shares of Dell were up more than 7%, while VMWare was up 2.6% in premarket trading.

Nvidia (NVDA) – Raymond James has upgraded chip inventory to a “strong buy” from “outperform,” saying the company was well positioned in the short and long term. The company also started to cover advanced micro-devices with an “outperform” rating. Nvidia and AMD were up 1.8% and 1.5% in premarket trading, respectively.

UnitedHealth (UNH) – The managed care business surpassed top and bottom estimates for the first quarter, with adjusted earnings of $ 5.31 per share and more than $ 70 billion in revenues. UnitedHealth also raised its full year earnings expectations. Shares were up 1.7% in premarket trading.

American Eagle (AEO) – The apparel company has announced that it expects sales to exceed $ 1 billion in the first quarter, a growth in the mid-teens over the same period in 2019, before the pandemic. American Eagle also expected operating income to more than double compared to the same period. The company will report its full results on May 1. Shares were up more than 6% in premarket trading.

CrowdStrike (CRWD) – Deutsche Bank started its cybersecurity share coverage with a ‘buy’ rating, saying in a note that the company’s margins could exceed 30%. Shares of CrowdStrike were up 3% in premarket trading.

PepsiCo (PEP) – According to Refinitiv, the beverage company reported adjusted earnings of $ 1.21 per share, 9 cents above estimates. Sales were also higher than expected as organic revenues were up 2.4%. Shares of PepsiCo were up 0.6% in premarket trading.

BlackRock (BLK) – The asset management giant reported $ 7.77 in adjusted earnings per share and $ 4.4 billion in revenues for the first quarter, slightly above estimates on both counts, Refinitiv said. The company’s assets under management were $ 9 trillion. Shares were up 0.4% in premarket trading.

–CNBC’s Michael Bloom contributed to this story.