Stocks making the biggest moves premarket: GS, SNPO, CRM

Check out the companies making headlines before the bell. Goldman Sachs shares jumped 3.3% in premarket trading after the company beat Wall Street’s first-quarter earnings expectations. Goldman posted earnings of $11.58 per share on revenue of $14.21 billion for the period, fueled by its trading and investment banking businesses. Analysts had called for earnings of $8.56 per share on revenue of $12.92 billion, meanwhile. Logitech shares pulled back roughly 2% after Morgan Stanley downgraded the computer peripherals stock to underweight. Analyst Erik Woodring thinks the market is “mis-pricing” Logitech’s outlook and forecasts only 3% annual revenue growth through fiscal year 2027. Masimo, the health tech stock, rose more than 2% following an upgrade to buy from hold at Stifel. Analyst Rick Wise said he sees “room for further share price appreciation,” citing as catalysts the bank’s business improvement and gross margin expansion opportunities. Salesforce shares slid nearly 3% in premarket trading, following reports that the software company is in advanced talks to acquire Informatica, a data management firm. Medical Properties Trust shares soared 14% after the real estate investment trust said that it would sell its majority interests in five Utah hospitals to a new joint venture, with the deal coming to a total valuation of $886 million. Coupang, the South Korea-based e-commerce company, climbed 2% following an upgrade to buy from neutral at Citi. Lockheed Martin, the aerospace and defense stock, gained nearly 2% following an upgrade to overweight at JPMorgan. Cisco Systems shares added 2% following an upgrade to buy from neutral at Bank of America. Coty shares moved 1.3% higher after Canaccord Genuity initiated coverage of the beauty products company with a buy rating. Charles Schwab fell 1% on the back of mixed first-quarter results. Snap One shares surged 30% after the provider of smart living products said it was going to be acquired by Resideo Technologies, a home automation company, for $10.75 per share in cash. Resideo shares jumped 5%. Tesla shares slid 1% after an internal memo showed that the firm was planning to lay off more than 10% of its global workforce. Elon Musk said in the memo, “As we prepare the company for our next phase of growth, it is extremely important to look at every aspect of the company for cost reductions and increasing productivity.” CNBC’s Brian Evans, Michelle Fox, Sarah Min and Pia Singh contributed reporting.

Goldman Sachs shares rose 3.3% after beating Wall Street’s first-quarter earnings expectations, with earnings of $11.58 per share on revenue of $14.21 billion. Logitech shares fell 2% after being downgraded by Morgan Stanley to underweight. Masimo saw a 2% increase after an upgrade to buy from hold at Stifel. Salesforce shares dropped 3% amid reports of advanced talks to acquire Informatica. Medical Properties Trust surged 14% after announcing a $886 million deal for five Utah hospitals. Coupang climbed 2% following an upgrade to buy from neutral at Citi. Lockheed Martin gained nearly 2% after an upgrade to overweight at JPMorgan. Cisco Systems rose 2% after an upgrade to buy from neutral at Bank of America. Coty shares moved 1.3% higher after Canaccord Genuity initiated coverage with a buy rating. Charles Schwab fell 1% on mixed first-quarter results. Snap One shares surged 30% after being acquired by Resideo Technologies for $10.75 per share. Resideo shares jumped 5%. Tesla shares slid 1% after an internal memo revealed plans for layoffs.

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