Stocks making the biggest moves premarket: JEF, ORCL, FITB, MU
Check out the companies making headlines in premarket trading. Regional bank stocks — The subsector ticked higher after driving down the broader market on Thursday. Zions rose more than 1% on the back of a Baird upgrade , while Western Alliance bounced by less than 1%. The SPDR S & P Regional Banking ETF (KRE) advanced 0.4%. Jefferies — The investment bank’s shares jumped 3% following Thursday’s plunge of more than 10%. Oppenheimer upgraded the stock to outperform on Friday, with the firm saying Jefferies’ exposure to First Brands is “very limited.” CSX — The railroad stock added 2.5% following better-than-expected earnings for the third quarter. CSX reported adjusted earnings of 44 cents per share on $3.59 billion in revenue, while analysts polled by LSEG penciled in 42 cents a share and $3.58 billion. Interactive Brokers Group — Shares lost 2.6% despite an expectation-beating earnings report for the third quarter. Interactive Brokers recorded earnings of 57 cents per share, excluding items, and $1.61 billion in revenue. That topped an LSEG of 54 cents in earnings per share and $1.52 billion in revenue. Oracle — The software stock shed 2.4%, giving back a chunk of its rally in Thursday’s session. Oracle on Thursday confirmed a cloud computing deal with Meta. Bank OZK — The regional bank slipped around 2% as third-quarter earnings missed expectations, adding to losses seen during Thursday’s regional bank sell-off. Bank OZK earned $1.59 per share, missing the consensus forecast for $1.66 a share from analysts surveyed by FactSet. Novo Nordisk , Eli Lilly — The pharmaceutical stocks each lost about 4% after President Donald Trump suggested obesity drug costs could be “much lower.” However, Dr. Mehmet Oz, administrator of the Centers for Medicare & Medicaid Services, noted that the price of the popular GLP-1 medications had not yet been negotiated by the White House. Fifth Third — Shares of the bank, which announced its acquisition of Comerica last week, gained 2.8% on the back of a better-than-expected earnings report for the third quarter. Fifth Third earned 91 cents per share and $2.31 billion in revenue, while analysts surveyed by LSEG forecasted 87 cents and $2.28 billion. Comerica shares rose 0.8% after also posting earnings. Micron Technology — Shares traded 1.8% lower after Reuters reported , citing sources, that Micron would exit the server chips business in China. Reuters reported that Micron’s business in the Asian country had failed to recover following a 2023 ban on its products in critical infrastructure. Huntington Bancshares — The regional bank popped 2%. Huntington earned 41 cents per share in the third quarter, surpassing the LSEG consensus forecast 37 cents a share. American Express — The financial stock added about 1% after beating expectations for the third quarter and raising its full-year guidance. American Express said it earned $4.14 per share on $18.43 billion in the quarter, while analysts polled by FactSet anticipated $4 a share and $18.05 billion. Truist Financial — The bank’s stock rose 2.8% on a stronger-than-anticipated third-quarter earnings report. Truist earned $1.07 per share, excluding items, and $5.24 billion in revenue, while analysts were expecting $1 and $5.20 billion. Intuitive Machines — The space technology stock rallied 4.8% on the heels of Deutsche Bank’s upgrade to buy from hold. Deutsche said the stock’s risk-to-reward ratio looks attractive and that the business has commercial catalysts on the horizon. — CNBC’s Pia Singh contributed reporting
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