Aaron Newsom (left), installer for solar company Sunrun, and Tim McKibben, senior installer, prepare solar panels for installation on the roof of a house in Granada Hills.
Mel Melcon | Los Angeles Times | Getty Images
Check out the companies that are making the headlines before the bell:
Morgan Stanley (MS) – Morgan Stanley exceeded analysts’ expectations for First quarter result Due to the better than expected trading results with bonds, stocks were sent to the pre-market. The major US bank reported earnings of $ 2.19 per share on sales of $ 15.72 billion.
Sunrun (RUN) – Shares in the household solar company rose 3% after Simmons Energy upgraded the stock to an “overweight” rating. In a statement to customers, the company said the company has a strong growth story ahead of it and that the recent weakness is an attractive buying opportunity.
Cisco (CSCO) – Cisco shares rose 1.1% in premarket trading on Friday after Wolfe Research raised equity to “Outperform”. Analyst Jeff Kvaal wrote that “heavy IT spending should provide a tailwind to Cisco estimates” through fiscal 2022 and that shares should climb to $ 63, up 22% from Thursday’s close.
PNC Financial (PNC) – The bank’s stock was down 1.9% in premarket trading, even after PNC top-and-bottom beating estimates for the first quarter. PNC reported earnings per share of $ 4.10 on sales of $ 4.22 billion. Analysts surveyed by Refinitiv estimated $ 2.75 per share and revenue of $ 4.12 billion. The bank’s net interest margin fell and fell short of expectations, according to FactSet.
Comcast (CMCSA) – Comcast stocks rose 1.2% ahead of the opening bell after Raymond James upgraded the stock to an “Outperform” rating and advised clients that he expected the media giant to perform well for the first quarter. “We believe the future of NBCU will be positively impacted by the strength of HSD, the growth of the Peacock sub, improved theater revenues and the gradual reopening of the theme park,” wrote analyst Frank Louthan.
Simon Property Group (SPG) – The real estate company’s shares rose in premarket trading after Jefferies upgraded its stock from hold to buy. The Wall Street company said “retail investments, pent-up consumer demand and lower bad debt are positive catalysts” for the mall owner.
Bank of New York Mellon (BK) – The bank’s shares rose 1% in premarket trading after the Bank of New York Mellon beat analysts’ estimates in its first quarter report. The company made 97 cents per share on sales of $ 3.92 billion. Analysts surveyed by Refinitiv searched for 87 cents per share and $ 3.85 billion in revenue.
United Airlines (UAL) – United Airlines shares appeared in premarket trading after Argus upgraded to buy from hold. The Wall Street company said it likes the airline’s plans to cap capacity, cut structural costs by $ 2 billion, and bring margins back to pre-pandemic levels.
Coinbase (COIN) – Shares in the newly public cryptocurrency exchange fell into premarket trading on Friday. The weakness came despite another vote of confidence from popular investor Cathie Wood, whose Ark Invest had bought around $ 110 million of the stock on Thursday.
– with reports from Pippa Stevens, Jesse Pound and Tom Franck of CNBC.
Disclosure: Comcast owns NBCUniversal, the parent company of CNBC.