Goldman Sachs, Pfizer fall premarket; Morgan Stanley, Coinbase rise

  • Stock Market News
Goldman Sachs, Pfizer fall premarket; Morgan Stanley, Coinbase rise

By Peter Nurse -- Stocks in focus in premarket trade on Tuesday, January 17th. Please refresh for updates.

  • Goldman Sachs (NYSE: GS ) stock fell 2.4% after the investment bank's earnings plummeted in the final quarter of the year due to a sharp drop in revenue from asset and wealth management, as well as higher credit provisions and higher operating costs.

  • Morgan Stanley (NYSE: MS ) stock rose 1.1% after the lender beat expectations for fourth-quarter profit, as its trading business got a boost from market volatility, offsetting the hit from sluggish dealmaking.

  • Pfizer (NYSE: PFE ) stock fell 1.4% after Wells Fargo downgraded its stance on the pharmaceutical giant to ‘equal weight’ from ‘overweight’, saying uncertainty over its COVID business could make investors nervous.

  • Lennar (NYSE: LEN ) stock fell 0.1% after RBC downgraded the home construction company to ‘sector underperform’ from ‘sector perform’, seeing a difficult year for the housing sector.

  • Hertz (NASDAQ: HTZ ) stock rose 0.6% after the car rental firm announced it will make up to 25,000 electric vehicles available to rent to drivers of ride-hailing company Uber (NYSE: UBER ), down 0.2%, in European capitals by 2025.

  • Coinbase (NASDAQ: COIN ) stock rose 6.6% with the crypto exchange platform benefiting from the two-week surge in the price of major digital token Bitcoin .

  • Church & Dwight (NYSE: CHD ) stock rose 1.3% after Morgan Stanley upgraded the consumer products seller to ‘overweight’ from ‘equal weight’, saying it is now trading at attractive levels after falling in 2022.

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