Stocks with the biggest gains before the market: GS, SNPO, CRM | Private Equity Weekly
Check out the companies making headlines before the market opens. Goldman Sachs – Shares of Goldman Sachs rose 3.3% in premarket trading after the company’s first-quarter profit topped Wall Street expectations. Goldman Sachs reported quarterly revenue of $14.21 billion and earnings of $11.58 per share, driven by trading and investment banking. Meanwhile, analysts polled by LSEG expected earnings of $8.56 per share and revenue of $12.92 billion. Logitech — Shares of Logitech fell about 2% after Morgan Stanley downgraded the computer peripheral stock to underweight. Analyst Erik Woodring believes the market has “mispriced” Logitech’s prospects and forecast annual revenue growth of just 3% through fiscal 2027. The health tech stock rose more than 2% following a “buy” call. Analyst Rick Wise said he sees “room for further appreciation in the stock price,” citing the bank’s improving operations and gross margin expansion opportunities as catalysts. Salesforce — The software company is in advanced talks to acquire data management company Informatica, sending the company’s shares down nearly 3% in premarket trading after the Wall Street Journal and Reuters reported that the software company is in advanced talks to acquire data management company Informatica. Medical Properties Trust — The real estate investment trust said it will sell a majority stake in five Utah hospitals to a new joint venture in a deal that values the company at $886 million, sending its shares soaring 14%. Coupang — Shares of the South Korean e-commerce company rose 2% after Citigroup upgraded the stock to “buy” from “neutral.” The bank believes there is still room for margin expansion as Coupang raises subscription fees and does not expect any resistance from customers due to its strong delivery service. Lockheed Martin — The aerospace and defense stock rose nearly 2% after JPMorgan upgraded the stock to “overweight.” While the stock has underperformed this year, the bank expects better prospects going forward as the company receives additional funding due to geopolitical events overseas. Cisco Systems — Shares of the technology giant rose 2% after Bank of America upgraded the company to “buy” from “neutral.” Analyst Tal Liani sees room for upside in the stock, citing expected growth in the security and networking categories and the impact of Cisco’s recent acquisition of Splunk. Coty — Shares of Coty rose 1.3% after Canaccord Genuity issued a buy rating on the beauty products company. The company said Coty has significant growth opportunities and a strong brand to maintain consumer interest. Charles Schwab – Online brokerage fell 1% amid mixed first-quarter results. Schwab’s profit was 74 cents, in line with LSEG’s forecast. Revenue was $4.74 billion, slightly above the consensus forecast of $4.71 billion. Snap One, Resideo Technologies — Snap One, a provider of smart living products, said it will be acquired by home automation company Resideo Technologies for $10.75 per share in cash, sending the company’s shares soaring 30%. The transaction is valued at approximately $1.4 billion, including net debt. Resideo shares rose 5%. Tesla — Shares of the electric car maker fell 1% after an internal memo showed the company plans to lay off more than 10% of its global workforce. Tesla CEO Elon Musk said in the memo: “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 improve productivity. — CNBC’s Brian Evans, Michelle Fox, Sarah Min and Pia Singh contributed reporting.
