Morgan Stanley, Citigroup, Plug Power: What to Watch When the Stock Market Opens Today

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U.S. stock futures rose amid a wave of earnings reports, including from major banks. Here’s what we’re watching before Thursday’s opening bell.

  • Citigroup C -0.54% rose 1.2% premarket after posting a sizable beat on earnings per share and a 48% rise in net income. The bank’s CEO said the recovery from the pandemic is driving corporate consumer confidence.
  • Morgan Stanley MS 0.81% climbed 2.7%. The bank reported revenue growth across almost all of its major divisions, including record advisory revenue.
  • Wells Fargo WFC -1.29% shares added 0.7% premarket after the bank reported a 59% rise in profit in the third quarter, boosted by a release of funds it had set aside for potential loan losses during the pandemic. Its revenue slipped 2% but still came above analysts’ estimates.
  • Bank of America BAC -0.92% rose 2.2% after reporting earnings per share that beat analysts’ estimates. The bank released $1.1 billion of its reserve in the third quarter, citing asset quality improvements.
  • Boeing BA -0.80% slid 0.6%. The Wall Street Journal reported that the company is dealing with a new defect on its 787 Dreamliner, the latest in a series of production slip-ups that have delayed aircraft deliveries and drawn scrutiny.
  • Domino’s Pizza tumbled 4.3% after the fast-food chain posted revenue and U.S. same-store sales that missed expectations.
  • UnitedHealth UNH 0.08% climbed 2.8% after raising its full-year guidance for earnings. It said its revenue growth was driven by higher insurance memberships.
  • Shares of Deere declined 2.1%. Some of the agriculture-equipment maker’s employees went on strike for higher pay.
  • Walgreens Boots Alliance WBA -0.34% rose 1%. The pharmacy chain posted a profit jump and earnings per share that came above Wall Street’s estimates.
  • Shares of United Parcel Service UPS 1.14% rose 2.8% premarket. An equity research analyst at Stifel raised their price target and rating on the stock.
  • Fuel-cell company Plug Power PLUG 12.79% added 1.9%, extending Wednesday’s rally. The fuel-cell company said it would work with Airbus EADSY 0.40% to study the feasibility of bringing green hydrogen to aircraft and airports.

A Plug Power hydrogen delivery truck.

Photo: Plug Power

  • Lordstown Motors RIDE 2.15% gained 1.5% premarket. The electric-truck startup hired a new finance chief in the wake of its recent liquidity problems.
  • Online furniture retailer Wayfair W 0.51% slipped 2.9% following downgrades by equity research analysts at Jefferies and Morgan Stanley. The stock is down 2.8% this week so far.
  • Aluminum producer Alcoa AA 1.30% ‘s shares added 3.1% premarket, as aluminum prices climbed. The company is also scheduled to report earnings after markets close.
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