Companies in the news before the opening bell include UnitedHealth, whose stock rose 7% after the company reported better-than-expected revenue in its first-quarter results. Morgan Stanley’s shares also increased by 3.2% as the company exceeded first-quarter expectations in wealth management, trading, and advisory results. On the other hand, Live Nation Entertainment saw its shares drop by 9.6% after reports emerged that the Justice Department is preparing to file an antitrust lawsuit against the Ticketmaster parent company. Johnson & Johnson’s stock slightly declined despite surpassing quarterly earnings expectations and experiencing a rise in medical device sales. Bank of America reported first-quarter earnings that surpassed analysts’ estimates, with little change in premarket trading. International Paper’s shares rose nearly 2% after agreeing to acquire British packaging company DS Smith in a $7.2 billion all-stock deal. Tesla’s shares fell 2.7% following an internal memo outlining plans to lay off more than 10% of its workforce. Two senior executives also announced their departures from the company.
UnitedHealth saw a 7% increase in shares after posting better-than-expected revenue in the first quarter. Morgan Stanley also saw shares rise by 3.2% after exceeding expectations on wealth management, trading, and advisory results. On the other hand, Live Nation Entertainment saw a 9.6% decline in shares following reports of a potential antitrust lawsuit. Johnson & Johnson’s stock remained relatively stable despite beating quarterly earnings expectations. Bank of America reported adjusted earnings that beat estimates, while International Paper’s shares rose after agreeing to buy British packaging company DS Smith in a $7.2 billion deal. Tesla’s shares fell 2.7% after an internal memo announced plans to lay off more than 10% of its workforce, leading to the departure of two senior executives.
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