Stock Groups

Bank of America, UnitedHealth, P&G and more

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Take a look at the top companies that made headlines long before the bell rang.

Bank of America (BAC) – Bank of America shares rallied 3.2% in the premarket after it beat estimates by 6 cents with a quarterly profit of 82 cents per share. While revenue fell slightly from expectations, Bank of America’s overall performance is attributed to its investment banking strength.

UnitedHealth Group (UNH) – UnitedHealth earned an adjusted $4.48 per share for the fourth quarter, 17 cents above estimates, and the health insurer’s revenue also topped forecasts. UnitedHealth was particularly pleased with its Optum unit’s drug benefit management business.

Morgan Stanley (MS) – Morgan Stanley jumped 3.5% in the premarket after beating estimates by 10 cents with a quarterly profit of $2.01 per share, and revenue essentially in line with forecasts. The strong deal advisory fees that were paid for a highly active quarter in merger and acquisitions helped to boost results.

Procter & Gamble (PG) – P&G added 1% in the premarket after beating estimates on the top and bottom lines for its fiscal second quarter and raising its organic growth outlook. P&G beat estimates by a penny with a profit of $1.66 per share, as consumers shrugged off price hikes for the company’s household staples.

Sony (SONY) – Sony fell 3.9% in premarket trading on top of a 7.2% skid Tuesday. Following news of MicrosoftDeal by’s (MSFT), to purchase videogame maker Activision Blizzard(ATVI), a deal that will increase competition pressure on Sony’s PlayStation operations, was $68.7 Billion.

Alliance Data Systems (ADS) – Alliance Data lost 1.7% in premarket action, following news that warehouse retailer BJ’s Wholesale(BJ) will be moving the co-branded credit cards account it has to Capital One (COF). BJ’s also sued Alliance. They claim that BJ’s specialist in store credit cards slows down the process of transferring funds. Alliance claimed it was in complete compliance with its contract.

SoFi Technologies (SOFI) – SoFi surged 18% in premarket action after the financial technology company won regulatory approval to become a bank holding company.

Zogenix (ZGNX) – Zogenix soared 65.9% in the premarket after agreeing to be acquired by Brussels-based biopharmaceutical company UCB for $26 dollars per share, compared with the $15.64 Tuesday closing price for Zogenix. UCB would also pay an extra $2 per share if the Zogenix drug fintepla – a treatment for a rare type of epilepsy – wins EU approval by the end of 2023.

Tegna (TGNA) – Tegna is close to finalizing a $9 billion deal to be bought out by private equity firms Apollo Global Management and Standard General, according to sources familiar with the situation who spoke to the New York Post. According to the paper, the television station operator initially demanded a $500 fee for breaking up if it was not approved by the FCC in a timely fashion. However, the demand has been dropped. The premarket saw Tegna rise by 4.9%.

ASML (ASML) – ASML shares rose after reporting a better-than-expected fourth-quarter profit. Also, the Dutch chipmaker released a optimistic 2022 sales growth prediction. Shares increased 2.2% during premarket trading.

Pearson (PSON) – Pearson raised its full-year forecast amid strength across its education publishing portfolio and better-than-expected prospects for U.S. higher education courseware. Premarket shares rose 7.2% for Pearson.

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