Check out the companies that make headlines before the bell. Bank of America – Shares rose approximately 2% after Bank of America reported first quarter results that exceeded analyst expectations due to stronger net interest and trading revenue than expected. Banks’ quarterly profits rose 11% to $7.4 billion, or 90 cents per share, while revenues rose 5.9% to $275.1 billion. Analysts voted by LSEG were seeking a profit of 82 cents per share on revenues of $269.9 billion. Boeing – Aerospace company shares fell more than 3% after Beijing ordered Chinese airlines not to increase Boeing plane delivery, ordering it to halt purchases of aircraft equipment from US companies, according to a Bloomberg report on Tuesday. Dow – Chemicals slipped over 4% after downgrading from a purchase at Bank of America to a decline in performance. The investment company said the Dow is facing a “complete storm” of negative factors, including weaker economics and high trade barriers. Citigroup – Stocks rose after the bank reported better results driven by profits from bond and stock trading units. Citi won $1.96 per share with revenue of $21.5 billion. Analysts estimated that the bank would make $1.85 per share with revenues of $212.9 billion. Johnson & Johnson – The stock slipped 1% after Johnson & Johnson increased its sales forecast, but its annual revenue guidance remained unchanged. The drug giant beat expectations, reporting profits of $2.77 per share with $218.9 billion, while analysts surveyed by LSEG sought profits of $2.59 per share with $215.6 billion. The company’s chief financial officer told the Wall Street Journal that it expects to cost around $400 million this year in relation to medical device tariffs. Netflix – The streaming giant’s shares rose 2% after the Wall Street Journal reported that Netflix was aiming to double its revenue by 2030 last year, reaching a market capitalization of $39 billion to $1 trillion. ALBERTSONS – Shares in the grocery chain fell 5% after the Albertsons fell below annual revenue guidance. The company expects profits of $2.03 to $2.16 per share, earnings of $2.03 to $2.16 per share, but analysts said FactSet’s expected revenues of $2.28 per share were voted. The Albertsons still outperformed their fourth quarter revenue and revenue forecasts. – CNBC’s Jesse Pound contributed the report.
The largest move stocks are pre-market (BAC, BA, JNJ)
