Aaron Newsom, left, an installer for the solar company, Sunrun, and Tim McKibben, a senior installer, are preparing solar panels on the roof of a house in Granada Hills.
Mel Melcon | Los Angeles Times | Getty Images
Check out the companies making headlines before the bell:
Morgan Stanley (MS) – Morgan Stanley exceeded analyst expectations for first-quarter earnings thanks to better-than-expected bond trading results, pushing up premarket stocks. The large US bank reported earnings of $ 2.19 per share on revenues of $ 15.72 billion.
Sunrun (RUN) – Shares of the residential solar company rose 3% after Simmons Energy upgraded the stock to an “overweight” rating. In a note to customers, the company said the company has a strong growth story ahead and that the recent weakness presents an attractive buying opportunity.
Cisco (CSCO) – Cisco shares rose 1.1% in premarket trading Friday after Wolfe Research upgraded equity to “outperform.” Analyst Jeff Kvaal wrote that “Strong IT spending should prove to be a tailwind to Cisco’s estimates” during fiscal year 2022 and said shares should rise to $ 63, up 22% from close. from Thursday.
PNC Financial (PNC) – Bank share fell 1.9% in premarket trading, even after PNC beat top and bottom estimates for its first quarterly report. PNC reported $ 4.10 in earnings per share on $ 4.22 billion in revenue. Analysts polled by Refinitiv had posted $ 2.75 per share and $ 4.12 billion in revenue. The bank’s net interest margin has fallen and is not expected, according to FactSet.
Comcast (CMCSA) – Shares of Comcast rallied 1.2% before the opening bubble after Raymond James upgraded the stock to an “outperform” rating and told customers it expects strong first-quarter earnings results from the media giant. “We believe there are future NBCU benefits from HSD strength, Peacock subgrowth, improved theater revenues and phased theme park reopenings,” wrote analyst Frank Louthan.
Simon Property Group (SPG) – Shares of the real estate company surged in premarket trading after Jefferies upgraded the stock to “buy” from “hold.” Wall Street said that “retailer investment, pent-up consumer demand and lower bad debt are positive catalysts” for the mall owner.
Bank of New York Mellon (BK) – Stocks of the bank rose 1% in premarket trading after Bank of New York Mellon beat analyst estimates in its first quarterly report. The company made 97 cents a share on $ 3.92 billion in revenue. Analysts polled by Refinitiv were looking for 87 cents a share and $ 3.85 billion in revenue.
United Airlines (UAL) – United Airlines shares plunged into premarket trading after an upgrade to “buy” from “hold” from Argus. The Wall Street firm said it approves of the airline’s plans to limit capacity, cut structural costs by $ 2 billion, and bring margins back to pre-pandemic levels.
Coinbase (COIN) – Shares of the newly public cryptocurrency exchange plunged into premarket trading on Friday. The weakness came despite a new vote of confidence from popular investor Cathie Wood, whose Ark Invest bought about $ 110 million of the stock on Thursday.
– with reporting from CNBC’s Pippa Stevens, Jesse Pound and Tom Franck.
Disclosure: Comcast is the owner of NBCUniversal, CNBC’s parent company.