In this photo illustration, a container of Johnson and Johnson baby powder is displayed on April 05, 2023 in San Anselmo, California.
Justin Sullivan | Getty Images
Check out the companies making headlines before the bell on Tuesday.
Goldman Sachs — The investment bank said first quarter revenue totaled $12.22 billion, below the $12.79 billion consensus estimate of analysts polled by Refinitiv. Fixed income, currencies and commodity trading was $3.93 billion in the first quarter, well below the $4.16 billion Wall Street estimate, according to FactSet. Goldman shares declined by nearly 4%. Goldman also said it took a $470 million hit tied to the sale of consumer loans in its Marcus unit.
Johnson & Johnson — The drug and consumer products maker said first quarter sales rose 5.6% to $24.75 billion, above the $23.67 billion consensus estimate of analysts polled by Refinitiv. Adjusted earnings came in at $2.68 per share ex-items, above the consensus estimate of $2.50. The CEO noted “strong performance” across all three business segments with the company raising 2023 guidance midpoints. Shares of the Dow Industrials constituent gained more than 1% premarket.
Bank of America — The Charlotte-based bank gained about 1.8% after topping first-quarter expectations on the top and bottom lines as interest rates rose. Higher rates helped boost BofA’s net interest income by 25% to $14.4 billion in the period.
Sunrun — The residential solar energy company’s shares rose 4.2% after KeyBanc upgraded the stock to overweight from sector weight. The bank said Sunrun could rally more than 31% from Monday’s close as it gains market share in California. Shares are down 14.4% year to date.
Nvidia — Shares of the chipmaker rose 2.4% Tuesday after HSBC upgraded the stock two levels, to buy from reduce. The firm said Nvidia is showing it has more power in pricing artificial intelligence chips than previously thought. Shares of Nvidia have already soared about 85% since the start of…
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