Jul 18, 2022 | Blog

During Market hours Yesterday  (Friday – 15.07.2022):

  • The Dow (Symbol: DIA) went up +2.04%. The S&P 500 (Symbol: SPY) gained +1.91% and the Nasdaq (Symbol: QQQ) jumped +1.81%.
  • Pinterest (Symbol: PINS) — Shares of the image-sharing social media company surged +16.2% on a report from the Wall Street Journal that Elliott Management has acquired a more than 9% stake.
  • Citigroup (Symbol: C) — Citigroup rallied +13.2% after second-quarter earnings beat on the top and bottom lines. Citigroup was the only one of the four major banks that reported earnings this week to surpass expectations on revenue.
  • Wells Fargo (Symbol: WFC) — Shares of Wells Fargo surged +6.2% after the bank reported quarterly earnings Friday morning. The bank missed analysts’ revenue estimates but beat on adjusted earnings per share, coming in at 82 cents versus 80 cents expected. Higher interest rates helped the bank during the quarter as net interest income climbed 16% on the year — which should help the bank offset further pressure on its mortgage unit and other operations going forward.
  • State Street (Symbol: STT) — Shares jumped +9.7% after the financial services fiduciary reported a beat on earnings per share estimates. State Street reported earnings of $1.94 per share on revenue of $2.95 billion. Analysts polled by Refinitiv were expecting earnings of $1.73 per share on revenue of $2.99 billion.
  • Bank of New York Mellon (Symbol: BK) — The bank holding company jumped +7.3% after a beat on revenue in its second-quarter earnings. Bank of New York Mellon reported revenue of $4.25 billion, compared with Refinitiv consensus estimates of $4.17 billion.

During Premarket hours today – (Monday – 18.07.2022):

  • Goldman Sachs (Symbol: GS) – Goldman gained +2.6% in premarket trading, following upbeat profit and revenue. Second-quarter earnings came in at $7.73 per share, compared to a consensus estimate of $6.58 a share. Goldman’s profit dropped from a year ago, however, as the pace of dealmaking slowed.
  • Coinbase (Symbol: COIN) — Coinbase rallied +6.5% in premarket action, with the cryptocurrency exchange operator’s stock one of several crypto-related stocks rising after the value of bitcoin and ether surged in overnight trading.
  • Bank of America (Symbol: BAC) — Bank of America fell 2 cents a share shy of estimates with quarterly earnings of 73 cents per share, though revenue came in slightly above Wall Street forecasts. Bank of America’s results were impacted by a sharp drop in investment banking revenue. The stock initially fell -1.7% in the premarket but then pared those losses.
  • Twitter (Symbol: TWTR) — Elon Musk filed a court motion late Friday seeking to deny Twitter’s request for an expedited trial over his move to terminate his $44 billion takeover deal.
  • Boeing (Symbol: BA) — Boeing announced that Delta Air Lines (DAL) had ordered 100 Boeing 737 Max jets, and also said that the company was very close to resuming deliveries of its 787 Dreamliner. Boeing jumped +4.2% in premarket trading.
  • Starbucks (Symbol: SBUX) — Starbucks rose +1.% in the premarket after the Sunday Times reported that the coffee chain is exploring a possible sale of its U.K. operations.

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