Investing.com - Financial Markets Worldwide
Get 40% Off
Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

Stocks - Goldman, BofA, Target All Fall in Premarket

Published 01/15/2020, 08:25 AM
Updated 01/15/2020, 08:28 AM
© Reuters.

By Geoffrey Smith

Investing.com -- Stocks in focus in premarket trading on Wednesday, 16th January. Please refresh for updates.

8:58 AM ET: Beyond Meat's (NASDAQ:BYND) hot streak has come to an abrupt end. The stock was down 5.8% on profit-taking after a rally that pushed it 50% higher since the start of the year. Bernstein analysts led by Alexia Howard earlier downgraded the stock to market perform, noting likely capacity constraints in the coming year.

8:50 AM ET: UnitedHealth (NYSE:UNH) stock rose 0.7% after the U.S.’s largest health insurer reported stronger-than-expected fourth-quarter results. The surprise was due largely to its Optum unit, which includes its pharmacy benefits management business. UnitedHealth also reaffirmed its full-year outlook for 2020 at around $16.40 a share.

  • 8:28 AM ET: BlackRock (NYSE:BLK) stock was up 0.8% after reporting record net inflows for 2019 thanks to the sustained boom in passive investing. Its iShares-branded ETFs took in $75.20 billion of new money, up from $41.50 billion in the prior quarter. Fourth-quarter earnings were some 8% ahead of consensus.

  • Target (NYSE:TGT) stock was down 7.0% after the big-box retailer said holiday sales had risen only 1.4% on the year, well below last year’s 5.7% increase and also below its own expectations. The company had a particularly hard time in electronics and toys, although beauty and apparel fared better.

  • Goldman Sachs (NYSE:GS) stock was down 0.6% after missing consensus forecasts for earnings due to a steep rise in provisions against credit losses. Litigation-related impairments of over $1 billion – chiefly arising from the Malaysian 1MDB scandal, also weighed on full-year numbers. That overshadowed a strong end to the year by the bank’s currency and bond traders.
    • 3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

  • Bank of America (NYSE:BAC) stock was down 0.3% after the bank reported a modest drop in revenue and net profit in the fourth quarter. The decline in earnings was less than expected but its core lending figures failed to impress as much as JPMorgan’s and Citi’s on Tuesday.

    Latest comments

    "By Geoffrey Smith Investing.com -- Stocks in focus in premarket trading on Wednesday, 16th January. Please refresh for updates." --- "Please refresh for updates" LOL -- yeah getting the date right will be your first update ..
    "...Wednesday, 16th January." --- OMG .. what dummies are these editors?? total beginners .. Ridiculous!! It's getting worser n worser .. grunt
    Install Our App
    Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
    Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
    Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
    It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
    Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
    © 2007-2024 - Fusion Media Limited. All Rights Reserved.