Stocks making the biggest moves premarket: BlackRock, Wells Fargo, Sherwin-Williams

Check out the companies making headlines before the bell:

BlackRock (BLK) BlackRock earned an adjusted $10.42 per share for the fourth quarter, beating the consensus estimate of $10.16, although the asset manager’s revenue was slightly below expectations. Assets under management rose above $10 trillion for the first time.

JPMorgan Chase (JPM) – JPMorgan beat estimates by 32 cents with quarterly earnings of $3.33 per share, while revenue also beat expectations. The bank’s strong performance helped its investment banking unit, but the results of its business operations slowed. JPMorgan shares fell 2.7 percent in pre-market trading.

Wells Fargo (WFC) Wells Fargo gained 2.3% in pre-market after beating top and bottom earnings estimates for the fourth quarter. Wells Fargo earned an adjusted $1.25 per share, 12 cents above estimates. Gross profit is enhanced by the release of loan loss provisions and by improving loan demand.

Sherwin-Williams (SHW) — The paint company’s stock fell 3.3% in pre-market activity after it cut its full-year forecast amid supply chain issues that it expects to continue into the current quarter. Sherwin-Williams said demand remains strong in most of its end markets.

Casino Macau – Las Vegas Sands (LVS), Wynn Resorts (WYNN), Melco Entertainment (MLCO) and MGM Resorts (MGM) shares surged in pre-market trading after the Macau government said it would limit the number of casino licenses to six. These companies are among six operating in Macau, whose existing licenses are set to expire this year. Las Vegas Sands stock jumped 10.7%, Wynn rose 10%, Melco rose 12.9%, and MGM added 4%.

Walt Disney (DIS) — Disney lost 1.6% in premarket trading after the Guggenheim downgraded the stock to “neutral” from “buy,” reflecting lower expectations for Disney’s direct-to-consumer business and theme parks.

Boston Beer (SAM) — Boston Beer fell 8% in the primary market after the beer company cut its annual profit forecast. The company is being affected by supply chain issues as well as waning growth for its already solid brand.

Virgin Orbit (VORB) — Virgin Orbit successfully launched seven small satellites Thursday, the first launch since the company went public last month. Shares are up 1.1% in pre-market trading.

BJ’s Wholesale (BJ) — BJ shares lost 3% in pre-market activity after JP Morgan Securities cut the warehouse retailer’s stockpile to “underweight” from “neutral,” reflecting concerns about inflation and waning stimulus measures for consumers.

Bausch Health (BHC) — Bausch Health surged 3.2% in the primary market after news that its Bausch + Lomb eye care unit had gone public and that the unit reported a jump in sales for the nine months ending in September. Bausch Health will remain majority owner of Bausch + Lomb.

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