Aaron Newsom, left, a solar power company installer, Sunrun, and Tim McKibben, a senior installer, are preparing solar panels to be installed on the roof of a house in Granada Hills.
Mel Melcon | Los Angeles Times | Getty Images
Check out the companies that make headlines before the clock:
Morgan Stanley (MS) – Morgan Stanley exceeded analysts’ expectations for first-quarter earnings due to better-than-expected bond trading results, which led shares to the upside. The largest U.S. bank reported earnings of $ 2.19 per share on revenue of $ 15.72 billion.
Sunrun (RUN) – The shares of the residential solar power company rose by 3% after Simmons Energy upgraded the share to an “overweight” rating. In a comment to clients, the firm said that the company has a strong growth story ahead, and that the recent weakness offers an attractive buying opportunity.
Cisco (CSCO) – Cisco shares rose 1.1% in trading to the market on Friday after Wolfe Research upgraded equity to ‘better than’. Analyst Jeff Kvaal wrote that strong IT spending would be a headwind for Cisco’s estimates up to the 2022 fiscal year, saying stocks should rise to $ 63, giving an upward 22% lead is from the end of Thursday.
PNC Financial (PNC) – Bank shares fell 1.9% in pre-market trading, even after PNC passed the top and bottom line estimates for its first quarterly report. PNC reported $ 4.10 in earnings per share on $ 4.22 billion in revenue. Analysts surveyed by Refinitiv recorded $ 2.75 per share and $ 4.12 billion in revenue. The bank’s net interest margin fell, according to FactSet, and missed expectations.
Comcast (CMCSA) – Shares in Comcast rose 1.2% ahead of the opening bell after Raymond James upgraded the stock to a “better performance” and told clients the media giant expects strong earnings for the first quarter. “We believe the future NBCU is on the rise due to HSD power, Peacock growth, improved theater revenues and phased theme park reopening,” wrote analyst Frank Louthan.
Simon Property Group (SPG) – The shares of the real estate company rose in trading of the market after Jefferies upgraded the stock to “buy” from “owned”. The Wall Street firm said retail investment, pent-up consumer demand and lower bad debt are a positive catalyst.
Bank of New York Mellon (CC) – The bank’s shares rose 1% in trading after Bank of New York Mellon beat analysts’ estimates in its first quarterly report. The business earned 97 cents a share on $ 3.92 billion in revenue. Analysts surveyed by Refinitiv looked for 87 cents a share and $ 3.85 billion in revenue.
United Airlines (UAL) – Shares of United Airlines ‘bought’ out of ‘hold’ in the pre-trade following an upgrade to Argus. The Wall Street firm said it likes the airline’s plans to limit capacity, reduce $ 2 billion in structural costs and restore margins to pre-pandemic levels.
Coinbase (COIN) – Shares of the newly public cryptocurrency exchange traded in pre-trading on Friday. The weakness came despite another confidence move from popular investor Cathie Wood, whose Ark Invest bought about $ 110 million of the stock on Thursday.
– with coverage of CNBC’s Pippa Stevens, Jesse Pound and Tom Franck.
Disclosure: Comcast is the owner of NBCUniversal, CNBC’s parent company.