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Morgan Stanley, BofA Rise in Premarket After Earnings; Cisco Falls -Breaking

by Mike Robinson

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© Reuters.

Geoffrey Smith 

Investing.com — Focus on stocks in premarket trades Wednesday, 19 January Refresh to see the most recent updates. 

  • Procter & GambleStock rose 1.7% on the NYSE as consumer giant NASDAQ raised its guidance regarding organic sales growth. This follows a quarter when it was able raise most prices.
  • Morgan Stanley Stocks of (NYSE:) rose 4.0% following quarterly earnings beats. Earnings beat estimates by about 5% due to strong revenue from equity trading and origination. This was in addition to a 10% increase in wealth management revenues.
  • Bank of AmericaThe stock of (NYSE:) rose 3.5% following its quarterly update that showed another release of provisions and buoyant revenue from investment banking and lending. The bank wasn’t able to escape the trend of falling revenue from bond trading, but did mitigate it with a strong performance in equities.
  • UnitedHealth (NYSE:) stock rose 0.7% after the U.S.’s biggest health insurer repeated its full-year guidance after an unspectacular set of results. Optum Healthcare Services, which provides healthcare data analytics services and manages prescription benefits, increased revenue by 15%. Adjusted earnings, however, came in at 3% more than expectations.
  • Cisco SystemsStock in (NASDAQ::) fell 2.4% after Goldman Sachs analysts (NYSE::) downgraded it from neutral to indicate that the stock is close to fair value.
  • ASML ADRs (NASDAQ:)  rose 3.3% after the Dutch-based maker of chipmaking equipment raised its dividend by around half and forecast another year in which it will struggle to meet buoyant demand for its lithographic machinery. The company also revealed first orders for its new high-end machine.
  • Sony Stock of the (NYSE: ) dropped another 3.7% due to competition to its operations. Microsoft’Acquisition by (NASDAQ: Activision Blizzard (NASDAQ:). ADRs fell more than 7 percent on Tuesday.
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