US Premarket: Apple, Meta, Splunk and other stocks making biggest moves
Apple gained 1.4% in premarket trading after Morgan Stanley named it a “top pick” for its ability to survive an economic slowdown.
Meta was jumped 1.6% in premarket action after the tech giant fell short of its goals for its flagship metaverse product “Horizon Worlds”, according to a report by the Wall Street Journal. The product has less than 200,000 monthly active users, as against an initial target of 500,000 by the end of this year and a revised year-end target of 280,000.
Splunk rallied 9.1% in premarket action after a Wall Street Journal report that activist investor Starboard Value holds just under a 5% stake in the software company.
BAC Bank of America
Bank of America added 3.1% in premarket action after exceeding top and bottom line estimates in its third-quarter earnings report. Results were boosted by an increase in net interest income.
CLR Continental Resources
jumped 8.6% in premarket trading after reports that Chairman and founder Harold Hamm and his family will acquire the shares of the energy producer that they don’t already own for $74.28 per share. The deal is not dependent on any financing and is expected to settle before the end of the year.
BK) Bank of NY Mellon
The bank’s shares surged 4.4% in the premarket after a better-than-expected quarterly earnings report. Net interest revenue grew 44% from a year-ago period during the third quarter.
NWSA News Corp.
rallied 3.5% in the premarket and Fox Corp fell 4.1%. Rupert Murdoch’s media companies have both formed special committees to consider remerging the two media companies, which separated in 2013.
GS… Goldman suchs
Goldman rose 1% in premarket trading as it plans to combine its various businesses into three divisions in a significant reorganization, according to the Wall Street Journal. One unit will handle investment banking and trading, second unit will house asset and wealth management, with transaction banking in a third division.
Shares of the natural gas producer surged 51.1% in premarket action after agreeing to be acquired by BP for $26 per share. BP added 2.2%.
CS Credits suchs
Credit Suisse surged 3.2% in premarket trading after the Financial Times reported that the company is ready to sell parts of its Swiss domestic bank to raise capital.
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