Check out the companies making headlines before the bell. Bank of America — Shares rose 1% after third-quarter profit and revenue beat Wall Street analysts’ expectations. Earnings came in at 81 cents, beating the 77 cents expected by analysts polled by LSEG. Revenue came in at $25.5 billion, compared to the consensus estimate of $25.3 billion. Johnson & Johnson – The healthcare conglomerate posted better-than-expected quarterly results on strong sales of oncology drugs, sending its stock slightly higher in premarket. J&J also raised its future financial outlook for full-year 2024 earnings and sales. Goldman Sachs — Shares of the investment bank rose more than 2% after better-than-expected quarterly profits. Goldman Sachs posted earnings of $8.40 per share on revenue of $12.7 billion. Analysts surveyed by LSEG had expected earnings of $6.89 per share and revenue of $11.8 billion. Goldman’s trading and investment banking divisions drove results. UnitedHealth Group — Healthcare stocks fell 3.2% despite strong sales and bottom line results in the third quarter. The company lowered its earnings outlook as it continues to face headwinds from a cyberattack earlier this year. UnitedHealth lowered the high end of its full-year earnings forecast to $27.50 to $27.75 per share from $27.50 to $28. Walgreens Boots Alliance — The retail drugstore chain rose 5% after fiscal fourth-quarter sales and profits beat analysts’ expectations. Walgreens also said it plans to close about 1,200 stores over the next three years, which it says will increase adjusted earnings and free cash flow and reduce costs. Citigroup — Shares of Jane Fraser’s bank rose 1.7% after third-quarter earnings and sales beat consensus estimates. Citigroup had earnings of $1.51 per share on revenue of $20.32 billion, compared to analyst estimates compiled by LSEG of earnings of $1.31 and revenue of $19.48 billion. . PNC Financial — The Pittsburgh-based regional bank added 0.8% premarket. PNC reported earnings of $3.49 per share, beating expectations of $3.30, according to analysts compiled by LSEG. Sales also came in at $5.43 billion, exceeding expectations of $5.39 billion. Etsy — Shares fell more than 5% after Goldman Sachs downgraded the online marketplace from neutral to sell. The investment bank highlighted the risk of margin compression and continued loss of market share. Coty – Shares fell 4% after the beauty company warned of a slowdown in the U.S. market in preliminary first-quarter results. Coty now expects comparable sales to increase 4% to 5%, a downward revision from its previous guidance of 6% growth. Charles Schwab — The brokerage firm soared more than 7% after third-quarter results beat analysts’ expectations. Charles Schwab reported earnings per share, excluding one-time items, of 77 cents and revenue of $4.85 billion. Analysts had expected earnings of 75 cents per share and revenue of $4.78 billion, per LSEG. Revenues increased 5% from the prior quarter due to continued investor engagement. The firm’s wealth advisory division reported record inflows year-to-date. Enphase Energy — RBC Capital Markets rates the maker of solar microinverters and EV charging stations as a top performer, expecting a “slower pace of growth next year that is not reflected in current consensus forecasts.” The stock price fell 1.8% as the company’s performance was lowered from its upside. Enphase, which also makes battery storage units, has fallen more than 20% this year. — CNBC’s Yun Li, Michelle Fox, Samantha Subin, Sara Ming and Pia Xin contributed reporting.
