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Stocks - JP Morgan, Wells Fargo Fall Premarket; J&J, Goldman Sachs Rise

Stock MarketsJul 16, 2019 08:38AM ET
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Investing.com - Stocks in focus in premarket trading on Tuesday:

• JPMorgan Chase & Co (NYSE:JPM) stock lost 1.6% in premarket trade by 8:20 AM ET (12:20 GMT) after it cut its forecasts for net interest income by $500 million to $57.5 billion, compared to the $58 billion target in the previous quarter, prompting fears that earnings had reached their cyclical peak. The bank still beat estimates on the bottom and top line.

Wells Fargo & Company (NYSE:WFC) stock was down 0.6% even though, like JPMorgan, its earnings and revenue topped forecasts.

• Tesla (NASDAQ:TSLA) stock slipped 1.9% after it dropped variants of its Model X and Model S and cut the starting price of its Model 3 to $38,990.

• Goldman Sachs (NYSE:GS) stock rose 1% after its financial results were better than expected, despite a 6% fall in quarterly profit. The bank’s earnings were hit by subdued fixed-income trading and weak debt underwriting.

• Johnson & Johnson (NYSE:JNJ) stock was up 0.5% after it raised its annual sales outlook and its earnings came in better than expected. The company was unable to give clear guidance on the cost of legal proceedings that claim its talcum powder caused ovarian cancer.

• Google parent company Alphabet (NASDAQ:GOOGL) stock fell 0.5% after U.S. President Donald Trump tweeted that his administration would look into comments from tech investor Peter Thiel that the tech giant should be investigated for allegedly aiding the Chinese military.

• Domino’s Pizza (NYSE:DPZ) stock slumped 7.3% after its sales came in below estimates, while comparable-store sales were up 3%, which was less than expected.

Stocks - JP Morgan, Wells Fargo Fall Premarket; J&J, Goldman Sachs Rise
 

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Hlubi Radebe
Hlubi Radebe Jul 16, 2019 1:08PM ET
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try canopy growth company
Vuong Ngoc Tran
Vuong Ngoc Tran Jul 16, 2019 11:48AM ET
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hi guys, where can I find the cannabis stocks?
Kim Boesgaard Lauritsen
Kim Boesgaard Lauritsen Jul 16, 2019 10:17AM ET
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thank you for the update guys, Hope that you will have a great day
 
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