Stocks making the biggest moves premarket: United Airlines, Moderna, IBM and more

Market Insider

In this article

A United Airlines plane taxis at Newark International Airport, in Newark, New Jersey, on January 11 2023.
Kena Betancur | AFP | Getty Images

Check out the companies making headlines in premarket trading.

United Airlines – Shares of United Airlines rose 3.5% after the company reported quarterly earnings that topped Wall Street’s estimates for the fourth quarter, signaling strong demand amid higher prices. United posted adjusted earnings per share of $2.46 on $12.4 billion in revenue. Analysts expected adjusted earnings per share of $2.10 and $12.2 billion in revenue, per Refinitiv.

Moderna – Moderna rose 7.5% after the pharmaceutical company said Tuesday that its RSV vaccine is 84% effective in preventing disease in older adults. A clinical trial also showed no safety concerns for the vaccine, which uses the same messenger RNA technology as the Moderna Covid-19 shot.

IBM — IBM shares dipped about 2% before the bell after Morgan Stanley downgraded the stock to equal weight from an overweight rating, and cited concerns of decelerating revenue growth.

J.B. Hunt Transport Services — The transportation stock shed more than 1% after fourth-quarter results fell short of analysts expectations. Analysts surveyed by StreetAccount had anticipated adjusted earnings of $2.44 per share on revenues of $3.81 billion. J.B. Hunt shared earnings of $1.92 and $3.65 billion in revenue.

PNC Financial — The regional bank fell more than 4% after PNC’s fourth quarter results missed Wall Street estimates. PNC reported $3.49 in adjusted earnings per share on $3.68 billion of revenue. Analysts surveyed by StreetAccount had penciled in $3.95 per share on $3.74 billion of revenue.

Interactive Brokers — The brokerage saw shares rise 2.5% after reporting strong financial results for its most recent quarter. Earnings came in at $1.30 per share, compared to estimates of $1.17 per share, according to StreetAccount. Adjusted net revenue of $958 million was also higher than estimates of $924.2 million.

Levi Strauss — The apparel company slid 1.7% after being downgraded by Bank of America to neutral from buy. The Wall Street firm said it sees 20% downside to earnings per share estimates for the first half of the year and is uncertain that denim demand will improve in the second half.

Oatly — The food stock jumped 6.7% following an upgrade by analysts at Mizuho, citing improving liquidity. After a difficult 2022, the firm also said Oatly should benefit from resilient demand plant-based beverages.

Yeti — Yeti shares dipped 1.7% after Cowen downgraded the cooler company to a market perform from an outperform rating, citing risks to consensus growth expectations.

Skechers — Shares slipped 2.1% after Morgan Stanley downgraded Skechers to equal weight from overweight. The bank said the footwear stock trades near the higher end of its historical valuation range.

GoDaddy — GoDaddy’s stock gained about 4% following an upgrade to outperform from and line at Evercore ISI. Analysts said the company’s business model should hold up well even in a recession.

— CNBC’s Carmen Reinicke, Michelle Fox, Jesse Pound and Tanaya Macheel contributed reporting

Articles You May Like

Top Wall Street analysts recommend these dividend stocks for higher returns
Warren Buffett’s Berkshire Hathaway scoops up Occidental and other stocks during sell-off
Starboard sees an opportunity to create value at Riot Platforms amid growth in hyperscalers
Wall Street’s fear gauge — the VIX — saw second-biggest spike ever on Wednesday
Why Short Squeeze Stocks May Be 2025’s Hidden Gems