By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Friday, January 14th. Please refresh for updates.
JPMorgan (NYSE:JPM) stock fell 3.5% after the banking giant reported a 14% fall in fourth-quarter earnings, weighed by a slowdown in its trading performance.
Wells Fargo (NYSE:WFC) stock rose 2.2% after the bank reported a rise in fourth-quarter profit, propped up by gains from the sale of its corporate trust and asset management businesses.
BlackRock (NYSE:BLK) stock fell 1.9% despite the world’s largest money manager beating expectations for fourth-quarter profit, with assets under management scaling a new peak of over $10 trillion. Its stock climbed around 20% last year.
Johnson & Johnson (NYSE:JNJ) stock rose 0.1% after a study in South Africa showed the drug maker’s Covid-19 vaccine booster shot is 85% effective in protecting against being hospitalised by the Omicron variant for 1-2 months after it is received.
Chipotle (NYSE:CMG) stock rose 1.2% after Morgan Stanley upgraded the fest food chain to “overweight” from “equal weight”, saying the recent dip presents a buying opportunity, seeing nearly 30% upside.
Wynn Resorts (NASDAQ:WYNN), Melco Resorts (NASDAQ:MLCO) and Las Vegas Sands (NYSE:LVS) stock were up over 10% each while MGM Resorts (NYSE:MGM) was up 4% after Reuters reported that the Macau government will issue licenses to six concessionaires with permission to operate for up to 10 years, suggesting business continuity.
Ford Motor Company (NYSE:F) stock fell 1.4% after RBC downgraded its stance on the auto giant to “sector perform” from “outperform”, seeing limited upside for the stock in the near term after a big run up in 2021.
- Sherwin-Williams (NYSE:SHW)stock fell 3.9% after the paints company cut its full year forecast, citing supply chain problems that it expects to persist through the current quarter.