Stocks move premarket after earnings from BlackRock, Morgan Stanley and others
Premarket stocks rise on earnings beats, guidance hikes and takeover buzz See which major names moved and why investors are reacting this morning
Several major stocks moved in premarket trading on Wednesday after a mix of earnings reports, guidance updates, and takeover reports.
BlackRock rose more than 4% after the asset manager posted strongerthanexpected secondquarter results, while Morgan Stanley gained about 1.5% after reporting record quarterly revenue and profit. ASML also advanced after beating estimates and lifting its fullyear guidance again.
Other names moved lower or reacted sharply to company updates. Pentair fell after preliminary secondquarter results missed expectations, Johnson & Johnson slipped despite a small earnings beat, and Elevance Health dropped even after raising its fullyear outlook. PayPal jumped after a Reuters report said Stripe and Advent had made a $53 billion takeover offer, while IBM recovered slightly after its steep decline in the previous session.