Stocks making the biggest moves premarket: Nvidia, Trade Desk, BlackRock, Wells Fargo and more

CNBC

a day ago

Check out the companies making headlines before the bell. JPMorgan Chase — Shares fell less than 1% in the premarket after the bank posted second-quarter earnings that beat analyst expectations. Investment banking and trading revenue drove the stronger-than-expected numbers. Wells Fargo — Shares were down 3% in the premarket after the company lowered its 2025 net income guidance to roughly in line with 2024 levels. The bank previously expected an increase of 1% to 3%. The forecast reduction overshadowed better-than-expected second-quarter profits. Citigroup — Shares added less than 1% after the bank posted second-quarter results that exceeded analyst expectations. Citigroup earned $1.96 per share on revenue of $21.67 billion, while analysts polled by LSEG had expected earnings of $1.60 on $20.98 billion in revenue. BlackRock — Stock in the world's largest asset manager slipped about 3% after second-quarter revenue missed Wall Street's expectations. BlackRock reported revenue of $5.42 billion, while analysts surveyed by LSEG were looking for $5.46 billion. LM Ericsson — The Swedish telecommunications stock slipped 2% after reporting second-quarter revenue of SEK56.10B. This came below the SEK59.29B analyst consensus, according to FactSet. Bank of New York Mellon — Shares fell less than 1% after the bank reported second-quarter adjusted earnings of $1.94 per share, exceeding the $1.76 per share analysts had expected, according to LSEG. The company's $5.03 billion revenue also came above the forecast. Albertsons — The supermarket chain was up slightly after reporting a narrow fiscal first-quarter earnings and revenue beat. The company also reaffirmed its full-year adjusted earnings guidance of between $2.03 to $2.16 per share, versus FactSet's consensus estimate of $2.11. State Street — Shares slipped nearly 2% after the bank reported second-quarter net interest income of $729 million, while FactSet analysts had estimated $733.2 million. This shortfall overshadowed its second-quarter beat. Nvidia — Shares jumped 4% after the graphics processing unit manufacturer announced it will "soon" resume sales of its H20 AI chip to China upon receiving licenses from the U.S. government. The Trump administration had previously told the company in April that it would require a license to sell the chips in China, effectively halting sales. Fellow semiconductor chip stocks Advanced Micro Devices , Broadcom and Micron Technology respectively rose 5%, 1% and 2%. Trade Desk — Shares surged 14% after S & P Global announced that the digital advertising company is set to join the S & P 500 as of Friday. It will replace software maker Ansys, which will be acquired in a $35 billion deal by Synopsys. Shares of AppLovin and Robinhood Markets both shed around 1% upon being left out of the index once again. SolarEdge Technologies , Enphase Energy — The solar stock fell nearly 2% in premarket trading after JPMorgan downgraded shares of the company to neutral from overweight. The Wall Street firm said it's looking for signs of stronger-than-expected market share gain and/or margin expansion to add to positions. The stock has been on a monster rally as of late, gaining more than 110% in the past three months and more than 96% year to date. Shares of Enphase Energy also slipped 2% after similarly receiving a downgrade to neutral from overweight. National Fuel Gas — Shares popped 4% on the heels of Bank of America's double upgrade to buy from underperform. Bank of America said the energy company has improved productivity. — CNBC's Brian Evans, Alex Harring, Fred Imbert, Yun Li and Jesse Pound contributed reporting.