By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Wednesday, October 14th. Please refresh for updates.
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Goldman Sachs (NYSE:GS) stock rose 2.5% after the banking giant reported a near doubling in quarterly profit, driven by a resurgence in deal-making and continued strength in its trading and underwriting businesses.
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Wells Fargo (NYSE:WFC) stock fell 1.8% after the bank reported a third-quarter profit that was less than half what it was last year and was below expectations.
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Bank of America (NYSE:BAC) stock fell 2.2% after it reported a drop in quarterly profit of almost 16%, hit by higher provisions for credit losses due to the Covid-19 pandemic. Both Wells and BofA suffered a drop of nearly 20% in income from their core lending businesses as interest margins compressed in the wake of the Federal Reserve's emergency rate cuts.
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US Bancorp (NYSE:USB) stock rose 2% despite its third-quarter profit falling from the same period last year. The company's earnings per share came in at $0.99, above the $0.91 previously expected.
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Allscripts Healthcare Solutions (NASDAQ:MDRX) stock soared 38% after the healthcare IT company said it was selling off its CarePort Health business to WellSky for $1.35 billion.
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Bed Bath & Beyond (NASDAQ:BBBY) stock rose 5.9% after the retailer announced plans to sell several of its non-core assets, including its Christmas Tree Shops retail brand, its Linen Holdings unit, and a New Jersey distribution center.
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Netflix (NASDAQ:NFLX) stock rose 1.4% after the streaming media giant announced fresh plans to attract new subscribers, ending the ability of potential subscribers in the United States to test the service with a free trial.
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Amazon (NASDAQ:AMZN) stock rose 0.3%, with the e-commerce giant’s key Prime Day running into its second day.
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Concho Resources (NYSE:CXO) stock soared 10% after Bloomberg reported that ConocoPhillips (NYSE:COP) was in talks to buy the company - a move which would represent a big bet on shale.
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Pilgrims Pride (NASDAQ:PPC) stock rose 0.4% after the second-largest U.S. chicken processor said it had reached a deal with the U.S. Justice Department to resolve price-fixing charges, paying a fine of $110.5 million.
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Six Flags (NYSE:SIX) stock rose 0.6% after the company announced plans to reduce costs by cutting its full-time workforce by about 10%, as it sees attendance in its amusement parks dwindle in the ongoing pandemic.
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UnitedHealth (NYSE:UNH) stock rose 0.5% after the health care company reported third-quarter profit and revenue that beat expectations and raised its full-year outlook.