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Biggest Moves Pre-Market Stock: BlackRock, Wells Fargo, Sherwin-Williams

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Biggest Moves Pre-Market Stock: BlackRock, Wells Fargo, Sherwin-Williams

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Find out which companies are making the headlines before the bell:

BlackRock (BLK) – BlackRock gained adjusted $ 10.42 per share for the fourth quarter, beating the consensus estimate of $ 10.16, although the asset manager’s earnings were slightly lower than expected. Assets under management surpassed the $ 10,000 billion mark for the first time.

JPMorgan Chase (JPM) – JPMorgan broke estimates by 32 cents with quarterly profit of $ 3.33 per share, while earnings also beat expectations. The bank was helped by the strong performance of its investment banking unit, but the results of its trading operations slowed. JPMorgan shares fell 2.7% pre-market.

Wells Fargo (WFC) – Wells Fargo gained 2.3% in pre-market after beating upper and lower fourth quarter earnings estimates. Wells Fargo gained adjusted $ 1.25 per share, 12 cents above estimates. Overall profit was boosted by the release of loan loss provisions and improved demand for loans.

Sherwin-Williams (SHW) – Shares of the paint company fell 3.3% pre-market after slashing its full-year guidance due to supply chain issues that are expected to persist over the course of the year. current quarter. Sherwin-Williams said demand remains strong in most of its end markets.

Shares of Macau casinos – Las Vegas Sands (LVS), Wynn Resorts (WYNN), Melco Entertainment (MLCO) and MGM Resorts (MGM) rallied to pre-market trading after the Macau government announced it would limit the number of casino licenses to six. The companies are among six companies operating in Macau, with their current licenses set to expire this year. Las Vegas Sands climbed 10.7%, Wynn 10%, Melco 12.9% and MGM 4%.

Walt Disney (DIS) – Disney lost 1.6% in pre-market trade after Guggenheim lowered the share to “neutral” from “buy,” reflecting lower expectations for direct-to-consumer sales activity and from Disney parks.

Boston Beer (SAM) – Boston Beer fell 8% in pre-release after the brewer slashed its outlook for annual profits. The company is affected by supply chain issues as well as declining growth of its Truly hard seltzer brand.

Virgin Orbit (VORB) – Virgin Orbit successfully launched seven small satellites on Thursday, the first launch since the company went public last month. The stocks gained 1.1% in pre-market trading.

BJ’s Wholesale (BJ) – BJ shares lost 3% in pre-market after JP Morgan Securities downgraded warehouse retailer shares from “neutral” to “underweight”, reflecting concerns about inflation and a decline in stimulus measures for consumers.

Bausch Health (BHC) – Bausch Health grew 3.2% pre-market following news that its Bausch + Lomb eye care unit went public and the unit reported increased sales for nine months ended in September. Bausch Health will remain the majority shareholder of Bausch + Lomb.

Biggest Moves Pre-Market Stock: BlackRock, Wells Fargo, Sherwin-Williams

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