Check out the companies making headlines before the market opens. Bank of America Corp. shares rose 1% after third-quarter profit and revenue topped Wall Street analysts’ expectations. Profit was 81 cents, beating the 77 cents expected by analysts polled by LSEG. Revenue was $25.5 billion, compared with consensus estimates of $25.3 billion. Johnson & Johnson – Shares of the healthcare group edged higher in premarket on strong sales of oncology drugs and better-than-expected quarterly results. Johnson & Johnson also raised its forward financial guidance for full-year 2024 profit and sales. Goldman Sachs – Shares of the investment bank rose more than 2% as quarterly earnings beat estimates. Goldman Sachs reported earnings of $8.40 per share on revenue of $12.7 billion. Analysts polled by LSEG expected earnings of $6.89 per share and revenue of $11.8 billion. Goldman Sachs’ trading and investment banking units received a performance boost. UnitedHealth Group — The healthcare stock fell 3.2% despite beating third-quarter revenue and profit estimates. The company lowered its profit forecast due to continued headwinds from cyberattacks earlier this year. UnitedHealth lowered its full-year profit forecast to a range of $27.50 to $27.75 per share, down from a range of $27.50 to $28 per share. Walgreens Boots Alliance — Shares of Walgreens Boots Alliance rose 5% after the retail pharmacy chain beat analysts’ expectations for fiscal fourth-quarter sales and profits. Walgreens also said it plans to close about 1,200 stores over the next three years, which will increase adjusted earnings and free cash flow and help cut costs. Citigroup — Citigroup, led by Jane Fraser, rose 1.7% after third-quarter profit and revenue beat consensus estimates. Citigroup reported earnings of $1.51 per share on revenue of $20.32 billion, while analysts polled by LSEG expected earnings of $1.31 per share on revenue of $19.48 billion. PNC Financial — The Pittsburgh-based regional bank gained 0.8% in premarket. PNC reported earnings of $3.49 per share, beating estimates of $3.30 per share, according to analysts surveyed by LSEG. Revenue of $5.43 billion also beat expectations of $5.39 billion. Etsy — Shares of Etsy fell more than 5% after Goldman Sachs downgraded the online market to sell from neutral. The investment bank highlighted the risks of margin compression and continued market share losses. Coty – Shares of Coty fell 4% after the beauty company warned of a U.S. market slowdown in preliminary fiscal first-quarter results. Coty now expects comparable revenue to grow 4% to 5%, down from its previous forecast of 6% growth. Charles Schwab — The brokerage’s third-quarter results beat analysts’ expectations, sending shares soaring more than 7%. Charles Schwab reported earnings of 77 cents per share, excluding one-time items, on revenue of $4.85 billion. Analysts expected LSEG to earn 75 cents per share on revenue of $4.78 billion. Revenue increased 5% from the previous quarter due to continued investor participation. The firm’s wealth advisory arm reported record inflows so far this year. Enphase Energy — RBC Capital Markets downgraded the maker of solar microinverters and electric vehicle charging stations to “sector perform” from “outperform” and said it expects “growth to slow next year, but Current consensus estimates are not priced in,” and the company’s shares fell 1.8%. Enphase, which also makes battery storage equipment, has seen its shares fall more than 20% this year. —CNBC’s Yun Li, Michelle Fox, Samantha Subin, Sarah Min and Pia Singh contributed reporting
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