Aaron Newsom, left, a solar company installer, Sunrun, and Tim McKibben, a senior installer, prepare solar panels to install on the roof of a home in Granada Hills.
Mel Melcon | Los Angeles Times | Getty Images
Check out the companies that make news before the bell:
Morgan Stanley (MS) – Morgan Stanley exceeded analysts ’expectations about first-quarter earnings thanks to better-than-expected bond trading results, which allowed market shares to rise. The major U.S. bank reported earnings of $ 2.19 per share with revenue of $ 15,722 million.
Sunrun (RUN) – Shares of the residential solar company rose 3% after Simmons Energy upgraded the shares to an “overweight” rating. In a note to customers, the firm said the company has a strong growth history ahead and that the recent weakness presents an attractive buying opportunity.
Cisco (CSCO) – On Friday, Cisco shares rose 1.1% in pre-market operations after Wolfe Research improved its own resources to “surpass” them. Analyst Jeff Kvaal wrote that “strong IT spending should show a negative effect on Cisco estimates” by fiscal year 2022 and said stocks should rise to $ 63, which would account for 22% up since the close on Thursday.
PNC Financial (PNC): Banking shares fell 1.9% in premarket trading even after PNC exceeded upper and lower line estimates for its first quarter report. PNC reported earnings per share of $ 4.10 for revenue of $ 4,222 million. Analysts surveyed by Refinitiv had written at $ 2.75 per share and $ 4.122 billion in revenue. According to FactSet, the bank’s net interest margin declined and lost expectations.
Comcast (CMCSA) – Comcast shares rose 1.2% ahead of the opening bell after Raymond James upgraded shares to an “overrun” rating and told customers he expects a strong first quarter result of the media giant. “We believe there is a future NBCU on the rise of the HSD force, the growth of Peacock sub, the improvement of theater revenue and the gradual reopening of theme parks,” wrote analyst Frank Louthan.
Simon Property Group (SPG): Real estate company shares rose in premarket trading after Jefferies upgraded shares to “buy” from “hold”. The Wall Street firm said that “retailers’ investments, accumulated consumer demand and reduced bad debt are positive catalysts” for the mall owner.
Bank of New York Mellon (BK) – Bank shares rose 1% in pre-market trading after Bank of New York Mellon exceeded analysts ’estimates in its first quarter report. The company earned 97 cents per share with revenue of $ 3.9 billion. Analysts surveyed by Refinitiv were looking for 87 cents per share and revenue of $ 3.855 billion.
United Airlines (UAL): United Airlines shares appeared on premarket trading after an upgrade to “buy” on Argus ’hold. The Wall Street firm said it likes the airline’s plans to limit capacity, reduce structural costs by $ 2 billion and restore margins to pre-pandemic levels.
Coinbase (COIN): Shares of the new public cryptocurrency exchange fell in premarket trading on Friday. The weakness came despite another vote of confidence from popular investor Cathie Wood, which Ark Invest bought about $ 110 million on Thursday.
– with reports from Pippa Stevens, Jesse Pound and Tom Franck of CNBC.
Disclosure: Comcast is the owner of NBCUniversal, CNBC’s parent company.