Apple gained 1.4% in premarket trading after Morgan Stanley
named it a “top pick” for its ability to survive an economic slowdown.
Meta Platforms (META)
Meta 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.
Bank of America (BAC)
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.
Continental Resources (CLR)
Continental 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
Bank of NY Mellon (BK)
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.
News Corp. (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.
Goldman Sachs (GS)
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.
Archaea Energy (LFG)
Shares of the natural gas producer surged 51.1% in
premarket action after agreeing to be acquired by BP for $26 per share. BP
Credit Suisse (CS)
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.