Goldman Sachs, Twitter, Morgan Stanley Rise Premarket; Wells Fargo Drops
2022.04.14 15:32
By Peter Nurse
Investing.com — Stocks in focus in premarket trade on Thursday, April 14th. Please refresh for updates.
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Twitter (NYSE:TWTR) stock rose 6.8% after Elon Musk, CEO of Tesla (NASDAQ:TSLA), offered to buy the social media giant for $54.20 a share in cash, valuing it at just over $41 billion. That’s a 38% premium to the price on the eve of Musk’s disclosure 12 days ago that he had accumulated a 9.2% stake in the company. Tesla stock fell 2.2%.
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Goldman Sachs (NYSE:GS) stock rose 1.3% after the investment bank impressed with its first-quarter earnings, boosted by strong performances on its trading desks amid surging volatility.
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Morgan Stanley (NYSE:MS) stock rose 1.9% after the lender’s first-quarter earnings topped expectations, helped by trading revenue gains.
- Citigroup (NYSE:C) stock rose 2.9% after better-than-expected trading revenue boosted the bank’s first-quarter earnings above expectations.
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Wells Fargo (NYSE:WFC) stock fell 3.7% after the banking giant posted disappointing first-quarter revenue, adding that future credit losses are set to increase.
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UnitedHealth (NYSE:UNH) stock rose 0.4% after the health insurance company reported a 3.5% rise in quarterly profit, helped in part by strength at its Optum healthcare services unit.
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Barrick Gold (NYSE:GOLD) stock fell 0.2% after the miner said its first-quarter production fell almost 18% from the previous three months, hurt by lower output at its Carlin and Cortez mines.
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Ericsson (NASDAQ:ERIC) stock fell 5.5% after the Swedish telecoms gear maker posted weak earnings in the first quarter and warned of further hits due to its withdrawal from Russia and a fresh U.S. fine for sanctions-busting.
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IBM (NYSE:IBM) stock rose 1.9% after Morgan Stanley upgraded its stance on the tech giant to ‘overweight’ from ‘equal weight’, saying the company offers a shelter for investors looking to “hide” amid growing macro risks.
