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Bank of America, Goldman Sachs, Splunk Rise Premarket; Fox Falls

By Peter Nurse

Investing.com -- Stocks in focus in premarket trade on Monday, October 17th. Please refresh for updates.

  • Bank of America (NYSE:BAC) stock rose 2.9% after the second-largest U.S. lender posted better than expected earnings, helped by strong bond trading and higher interest rates, even as it reported a drop in third-quarter profit as it set aside funds to cover potential soured loans.

  • Goldman Sachs (NYSE:GS) stock rose 1.3% after the Wall Street Journal reported that the investment bank was planning a sweeping reorganization, including combining its flagship investment banking and trading businesses into one unit.

  • Bank of New York Mellon (NYSE:BK) stock rose 4.4% after the lender reported healthy quarterly earnings, with net interest revenue up 44% from a year ago.
  • Splunk (NASDAQ:SPLK) stock rose 10% after the Wall Street Journal reported that activist investor Starboard Value has taken a near 5% stake in the software maker.

  • Apple (NASDAQ:AAPL) stock rose 1.3% after Morgan Stanley called the iPhone maker a top stock pick in the event of a U.S. economic downturn.

  • Honeywell (NASDAQ:HON) stock rose 1.4% after the aerospace company lifted its outlook for business jet deliveries, as the COVID-19 pandemic brought in a wave of first-time users and buyers in the private flying market.

  • Tesla (NASDAQ:TSLA) stock rose 1.4% after job openings on the company's website suggest the world's most valuable car maker is hiring employees at a quick pace, in nearly every category of job.

  • Continental Resources (NYSE:CLR) stock rose 8.2% after billionaire investor Harold Hamm boosted his offer to $4.3 billion for the remaining stock his family doesn’t already own, planning to take private the shale giant he founded decades ago.

  • News Corp (NASDAQ:NWSA) stock rose 3.5% and Fox (NASDAQ:FOX) stock fell 5.3% following the news that owner Rupert Murdoch has started a process that could reunite his media empire, nearly a decade after the companies split.

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.