JPM, BLK, GL and more

Check out the companies making headlines in premarket trading. JPMorgan slipped 2.4% despite beating expectations on both lines and reporting lower credit costs than anticipated. However, the bank said net interest income could be somewhat short of what Wall Street analysts are expecting in 2024, with CEO Jamie Dimon warning about persistent inflationary pressures on the economy. Wells Fargo shares vacillated after reporting first-quarter earnings, with the bank topping Wall Street’s expectations but reporting a decline in net interest income. Citigroup shares rose more than 2% after posting $21.1 billion in revenue, higher than analysts’ expectations. BlackRock advanced 2% with better-than-expected quarterly results. Globe Life jumped about 9% in extended trading, rebounding from a prior session’s significant decline following allegations of insurance fraud. Paramount shares slipped around 1% after proposing a decrease in the number of directors amid merger talks with Skydance. Mobileye gained 2% after an upgrade from Wolfe Research, GitLab shares moved 2.5% higher following an upgrade from Raymond James, and Corteva shares pulled back 2.6% on a downgrade from JPMorgan. Ciena shares dipped 1.3% after a sell rating initiation from Citi, with a target representing roughly 7% downside from the previous close. CNBC’s Tanaya Macheel, Samantha Subin, Sarah Min, and Michelle Fox contributed reporting.

Several companies are making headlines in premarket trading. JPMorgan slipped 2.4% despite beating expectations on both lines and reporting lower credit costs. However, the bank warned that net interest income may fall short of analysts’ expectations in 2024 due to inflationary pressures. Wells Fargo shares were up less than 1% after reporting first-quarter earnings that topped expectations but saw a decline in net interest income. Citigroup shares rose more than 2% after posting higher than expected revenue. BlackRock advanced 2% after reporting better-than-expected earnings per share and revenue. Globe Life jumped 9% after a steep decline in the prior session following allegations of insurance fraud. Paramount shares slipped after proposing fewer directors amid merger talks with Skydance. Mobileye shares gained 2% after an upgrade to outperform. GitLab shares moved higher following an upgrade to outperform. Corteva shares pulled back after a downgrade by JPMorgan. Ciena shares dipped after Citi initiated coverage with a sell rating, citing a delay in the artificial intelligence opportunity.

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