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JPMorgan, Wells Fargo, Intel and Tesla fall premarket; BlackRock rises

Published 12/04/2024, 13:08
© Reuters

Investing.com -- U.S. futures slipped lower Friday, with investors digesting a deluge of corporate earnings, including from a number of big banks.

Here are some of the biggest premarket U.S. stock movers today:

  • JPMorgan Chase (NYSE:JPM) stock fell 2.4% after the banking giant forecast full-year income from interest payments below expectations as the industry prepares for widely expected Federal Reserve rate cuts .

  • Wells Fargo (NYSE:WFC) stock fell 01% as the lender reported softer-than-expected net interest income numbers, even as first-quarter revenue surpassed expectations.

  • Apple (NASDAQ:AAPL) stock fell 0.2% after the iPhone maker lost a bid to throw out a mass lawsuit valued at just under $1 billion brought in London on behalf of more than 1,500 app developers over its App Store fees.

  • BlackRock (NYSE:BLK) stock rose 2.7% after the investment management company posted a rise in first-quarter profit, as a rebound in global equity markets bolstered the company's investment advisory and administration fees.

  • Intel (NASDAQ:INTC) and AMD (NASDAQ:AMD) both dropped 1.7% after the Wall Street Journal reported that China is intensifying efforts to reduce its reliance on foreign technology by aiming to eliminate American chip makers from its telecom infrastructure by 2027.

  • Tesla (NASDAQ:TSLA) stock fell 0.6% after Wedbush analyst Dan Ives, a known bull, said in a note, that the EV manufacturer’s newly announced robotaxi product “is not the answer for now."

  • Globe Life (NYSE:GL) stock rose over 10%, with the financial services company bouncing after Thursday’s sharp selloff in the wake of Fuzzy Panda Research disclosing a short position in the company, alleging multiple instances of insurance fraud. Global Life has denied the allegations.

  • Coupang (NYSE:CPNG) stock rose 9.4% after South Korea’s largest e-commerce platform said it planned to raise membership fees, its first hike in two years.

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