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Goldman Sachs, PepsiCo Rise Premarket; JPMorgan Falls

Stock MarketsJul 13, 2021 08:07AM ET
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By Peter Nurse -- Stocks in focus in premarket trade on Tuesday, July 13th. Please refresh for updates.

  • Goldman Sachs (NYSE:GS) stock rose 0.4% after Wall Street’s biggest investment bank easily beat estimates for second-quarter profit. The bank benefited from record global deal making activity.

  • JPMorgan Chase (NYSE:JPM) stock fell 0.9%, handing back some of Monday’s gains as although the banking giant reported a sharp jump in quarterly profit, albeit the headline number was supported by the release of reserves it had set aside for pandemic-related defaults. Underlying performance was slightly less impressive.

  • PepsiCo (NASDAQ:PEP) stock rose 1.2% after the soft drinks giant raised its full-year earnings forecast, looking for surging demand as the entertainment sector fully reopens.

  • Johnson & Johnson (NYSE:JNJ) stock fell 0.6% after the U.S. Food and Drug Administration added a warning to the drug maker’s Covid-19 vaccine, flagging an increased risk of a rare neurological disorder.

  • Boeing (NYSE:BA) stock fell 1.9% after the aircraft manufacturer said it would cut its 787 'Dreamliner' production rate as it works through a new production-related structural defect in its troubled twin-aisle airliner program.

  • Electronic Arts (NASDAQ:EA) stock rose 1.5% after BMO upgraded its recommendation on the video games manufacturer to ‘outperform’ from ‘market perform’, citing the strong performance of its Apex Legends game.

  • First Solar (NASDAQ:FSLR) stock fell 0.4% after Citigroup (NYSE:C) downgraded its recommendation to ‘neutral’ from ‘buy’, citing its valuation after the stock gained 20% in three months.

  • Nokia (NYSE:NOK) ADP rose 8.2% after the Finnish telecom equipment maker said it planned to raise its full-year outlook as business picked up pace in the second quarter.

  • ConAgra Foods (NYSE:CAG) stock fell 3.4% after the food producer cut its fiscal 2022 full-year forecast, citing the impact of inflation.
Goldman Sachs, PepsiCo Rise Premarket; JPMorgan Falls

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