Traders Unite!

Morgan Stanley, Citigroup, Plug Power: What to Watch When the Stock Market Opens Today

U.S. stock futures rose amid a wave of earnings reports, including from major banks. Here’s what we’re watching before Thursday’s opening bell.

  • Citigroup is scheduled to report earnings before the open.
  • Morgan Stanley climbed 1.7%. The bank reported revenue growth across almost all of its major divisions, including record advisory revenue.
  • Wells Fargo shares added 1.3% premarket after the bank reported a 59% rise in profit in the third quarter, boosted by a release of funds it had set aside for potential loan losses during the pandemic. Its revenue slipped 2% but still came above analysts’ estimates.
  • Bank of America rose 2.8% after reporting earnings per share that beat analysts’ estimates. The bank released $1.1 billion of its reserve in the third quarter, citing asset quality improvements.
  • Boeing slid 1%. The Wall Street Journal reported that the company is dealing with a new defect on its 787 Dreamliner, the latest in a series of production slip-ups that have delayed aircraft deliveries and drawn scrutiny.
  • UnitedHealth climbed 2.7% after raising its full-year guidance for earnings. It said its revenue growth was driven by higher insurance memberships.
  • Walgreens Boots Alliance rose 1.6%. The pharmacy chain posted a profit jump and earnings per share that came above Wall Street’s estimates.
  • Shares of United Parcel Service rose 2.7% premarket. An equity research analyst at Stifel raised their price target and rating on the stock.
  • Fuel-cell company Plug Power added 3.1%, extending Wednesday’s rally. The fuel-cell company said it would work with Airbus to study the feasibility of bringing green hydrogen to aircraft and airports.
  • Lordstown Motors gained 1.5% premarket. The electric-truck startup hired a new finance chief in the wake of its recent liquidity problems.
  • Online furniture retailer Wayfair slipped 2.7% following downgrades by equity research analysts at Jefferies and Morgan Stanley. The stock is down 2.8% this week so far.
  • Aluminum producer Alcoa ‘s shares added 3.3% premarket, as aluminum prices climbed. The company is also scheduled to report earnings after markets close.
Chart of the Day

Write to Anna Hirtenstein at anna.hirtenstein@wsj.com

Comments are closed.