Market Insider

Stocks making the biggest moves premarket: JP Morgan, Goldman Sachs, BlackRock & more

Wall Street set for a higher open

Check out the companies making headlines before the bell:

JPMorgan Chase – The bank reported quarterly profit of $2.68 per share, 23 cents a share above estimates. Revenue also beat Wall Street forecasts, helped by growth in home loans, auto loans, and credit cards.

BlackRock – The asset management firm beat estimates by 19 cents a share, with quarterly profit of $7.15 per share. Revenue came in essentially in line with analyst forecasts. Profit dropped from a year ago, however, as investors shifted money to fixed-income funds and other less profitable accounts.

Johnson & Johnson – The medical device and consumer products maker earned an adjusted $2.12 per share for the third quarter, compared to a consensus estimate of $2.01. Revenue also beat estimates, helped by growth in pharmaceuticals and medical devices.

Goldman Sachs – Goldman reported quarterly profit of $4.79 per share, 2 cents a share below estimates. Revenue was essentially in line with expectations.

UnitedHealth – UnitedHealth reported adjusted quarterly profit of $3.88 per share, beating consensus by 13 cents a share. Revenue came in above forecasts, as well. The company saw higher revenue in both its core health insurance business, as well as its pharmacy benefits management unit. The company also raised its full-year forecast.

Walmart – The retailer has begun its "InHome" service that deliveries groceries directly into a customer's home refrigerator. The service, which was first announced in June, will start in 3 areas – Kansas City, Pittsburgh, and Vero Beach, Florida.

Southwest Airlines – Southwest pilots are predicting that Boeing's 737 Max jet won't return to service until February. Boeing is still targeting a fourth-quarter return, and Southwest – along with United and American – are estimating that the jet will be back in the skies in January. Southwest is the biggest domestic user of the 737 Max jet.

Hilton Grand Vacations – The stock remains on watch after surging yesterday on a Bloomberg report that Apollo Global is offering $40 per share to buy the vacation time-share company.

General Motors – GM and the United Auto Workers union continue to negotiate, with a strike in its fifth week. The UAW has called a Thursday meeting of union leaders from around the nation to update them on the status of the talks.

Deere – Deere is spending billions to ramp up its leasing program, according to The Wall Street Journal, in an effort to combat declining demand for farm tractors and construction equipment.

Bloomin' Brands – The restaurant chain operator was downgraded to "hold" from "buy" at Deutsche Bank, which is cutting its third-quarter comparable sales estimate for the Outback Steakhouse parent to a 0.6% increase from 1.1%. Deutsche Bank is also becoming more conservative on comparable sales estimates for next year, as well.

Bed Bath & Beyond – Bed Bath & Beyond was upgraded to "overweight" from "sector weight" at KeyBanc, which points to a favorable near-term outlook for the housewares retailer as well as expected improvements in merchandising and operations under a new CEO.

Lowe's – Lowe's was upgraded to "overweight" from "neutral" at Piper Jaffray, citing an expected improvement in fundamentals for the home improvement retailer even as Street expectations remain modest.

The stock market vs the economy explained