Goldman Sachs, Bed Bath & Beyond, JetBlue and more

Here are some of the companies that are making headlines in the premarket trading

Goldman Sachs (GS) – Goldman shares rose more than 1% in premarket trading after the company’s first quarter results beat Wall Street expectations. The bank earned $ 18.60 per share, compared to the $ 10.22 per share expected by analysts polled by Refinitiv. Sales were $ 17.7 billion, which was higher than the expected $ 12.6 billion. JPMorgan Chase (JPM) also beat top and bottom line estimates for the first quarter.

Bed Bath & Beyond (BBBY) – The retailer’s stock plummeted 7% in the premarket after the company said net sales fell about 16% in the fourth quarter. During the period, the company earned an adjusted 40 cents per share on $ 2.62 billion in revenue. Analysts polled by Refinitiv expected 31 cents a share and sales of $ 2.63 billion.

JetBlue Airways (JBLU) – JetBlue stock rose 3% after JPMorgan upgraded the stock from “underweight” to “overweight”. The company expects the airline to continue to focus on cost containment in the aftermath of the pandemic, noting that the current valuation is attractive. JPMorgan has also upgraded Spirit Airlines (SAVE) to ‘overweight’ from ‘underweight’, while the rating on Southwest (LUV) has been increased to ‘neutral’.

Moderna (MRNA) – Shares of Moderna were up more than 3% in premarket action after the company said new data shows the Covid vaccine is more than 90% effective six months after the second shot. The data was based on more than 900 cases of the virus.

Occidental (OXY) – The energy company’s stock gained more than 2% in the premarket after MKM Partners upgraded the stock to a “buy” rating. “OXY is depreciated by more than 20% since the beginning of March (vs. XOP down 15% -20%) and reflects an increase in stock value of about 30%, meriting an upgrade from Neutral to Buy,” the company said. a note to customers.

Discovery (DISCA) – Class A shares of the media company fell more than 4% after CNBC reported that Credit Suisse is still discharging its position in the wake of the Archegos Capital Management explosion. According to people familiar with the case, the bank sold 19 million shares of Discovery’s Class A stock on Tuesday.

Harley-Davidson (HOG) – Shares of the motorcycle company rallied more than 2% in premarket trading after Bank of America initiated stock coverage with a ‘buy’ rating. The company said the company’s new strategy is to “elevate an iconic global brand”.

Snap (SNAP) – The social media company’s stock was up more than 2% after Wedbush assumed the stock had an “outperform” rating. The company said in a note that Snap is “uniquely positioned” as a video-centric platform and sees opportunities around the company’s augmented reality and social commerce divisions.