Stocks with the biggest gains before the market: UNH, MS, LYV | Private Equity Weekly
Check out the companies making headlines before the market opens. UnitedHealth — The health care giant reported better-than-expected first-quarter results on Tuesday, sending its shares up about 7%, up nearly 9% from $91.9 billion in the same period last year. UnitedHealth reported adjusted earnings of $6.91 per share on revenue of $99.8 billion for the quarter, while analysts polled by LSEG expected earnings of $6.61 per share on revenue of $99.3 billion. Morgan Stanley — Morgan Stanley shares rose 3.2% after first-quarter wealth management, trading and advisory results beat expectations. The company reported earnings of $2.02 per share, while analysts polled by LSEG expected earnings of $1.66 per share. Revenue for the quarter was $15.14 billion, beating analysts’ expectations of $14.41 billion. Live Nation Entertainment — Shares of Ticketmaster dropped 9.6% after the Wall Street Journal reported that the Justice Department is preparing to file an antitrust lawsuit against the parent company of Ticketmaster in the coming weeks. Johnson & Johnson — Shares of Johnson & Johnson edged lower even as the pharmaceutical giant beat quarterly profit estimates and benefited from rising medical device sales. Revenue was $21.38 billion, roughly in line with the $21.4 billion expected by analysts surveyed by LSEG. Bank of America – The U.S. banking giant reported first-quarter adjusted earnings of 83 cents per share, topping analysts’ expectations of 76 cents per share, according to LSEG. Revenue was US$25.98 billion, in line with expectations of US$25.46 billion. The stock was little changed in premarket trading. International Paper Corp. – The company that makes packaging and other fiber products agreed to acquire British packaging company DS Smith in an all-stock deal worth $7.2 billion, sending its shares up nearly 2 percent. Tesla – Shares of the electric car maker fell 2.7% on Monday, extending their losses, after an internal company memo said Tesla planned to lay off more than 10% of its workforce. “As we prepare for the next phase of the company’s growth, it is extremely important to look at all aspects of the company to reduce costs and increase productivity,” Chief Executive Musk wrote in the memo. Two senior Tesla executives The executive also announced his departure from the company on Monday. —CNBC’s Samantha Subin, Tanaya Macheel and Michelle Fox Theobald contributed reporting.
