Goldman Sachs, Bed Bath & Beyond, JetBlue and more

Here are some of the companies that make headlines in trading pre-markets:

Goldman Sachs (GS) – Goldman shares rose more than 1% in pre-trading after the company’s results in the first quarter met Wall Street expectations. The bank is earning $ 18.60 per share, compared to the $ 10.22 per share expected by analysts surveyed by Refinitiv. Revenue was $ 17.7 billion, higher than the expected $ 12.6 billion. JPMorgan Chase (JPM) also achieved the best estimates for the first quarter.

Bed Bath & Beyond (BBBY) – Retailer shares fell 7% in the futures market after the company said net sales fell 16% during the fourth quarter. During the period, the company earned 40 cents per share on revenue of $ 2.62 billion. Analysts surveyed by Refinitiv expect 31 cents a share and $ 2.63 billion in revenue.

JetBlue Airways (JBLU) – JetBlue share rose 3% after JPMorgan upgraded its share to ‘overweight’ from ‘underweight’. The firm expects the airline to continue to focus on cost control in the wake of the pandemic, noting that the current valuation is attractive. JPMorgan also upgraded Spirit Airlines (SAVE) to ‘overweight’ from ‘underweight’, while raising its rating on Southwest (LUV) to ‘neutral’.

Moderna (MRNA) – Shares in Moderna jumped more than 3% in market action after the company said new data showed the Covid vaccine was more than 90% effective six months after the second survey. The data are based on more than 900 cases of the virus.

Occidental (OXY) – Shares of the energy company gained more than 2% in the forex market after MKM Partners upgraded the stock to a ‘buy’ rating. “OXY has fallen by more than 20% since the beginning of March (compared to XOP by 15% -20%) and reflects the upward value of around 30%, which deserves the upgrade from Neutral to Buy,” the firm said in a note to customers said.

Discovery (DISCA) – Class A shares of the media company slipped more than 4% after CNBC reported that Credit Suisse was still taking its position down after the explosion of Archegos Capital Management. According to people familiar with the matter, the bank sold 19 million shares of Discovery’s A shares on Tuesday.

Harley-Davidson (HOG) – Shares of the motorcycle company rose more than 2% in trading on the market after Bank of America began covering the stock with a “buy” rating. The firm said the company’s new strategy enhances an iconic global brand. ‘

Snap (SNAP) – The social media business rose more than 2% after Wedbush accepted the stock’s coverage with a ‘better performance’ rating. The firm said in a comment that Snap is ‘uniquely positioned’ as a video-centric platform, and that it sees opportunities around the company’s augmented reality and social commerce division.